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Land bank offers new hope for polluted properties

26 Apr 2016 9:45 AM | Anonymous member (Administrator)

By Hugh BaileyConnecticut Post

If the location is right, pollution is no obstacle.

For some of the former industrial properties known as brownfields, new owners are willing to pay exorbitant cleanup costs to reuse the land. Elsewhere, when the payoff isn’t quite so clear, governments can work with developers on the piecemeal assemblage of a cleanup plan, which can take years to develop.

For some sites, even that much is impossible. In the wrong location, with expensive contamination and a bleak outlook, some properties will simply sit, year after year, decade after decade, as a building’s physical deterioration brings down a neighborhood and any hope of an economic rebound.

A new nonprofit enabled by legislation pending before the General Assembly is aimed at helping those properties that might otherwise be a lost cause.


For the entire article, see

http://www.ctpost.com/business/article/Land-bank-offers-new-hope-for-polluted-properties-7303681.php

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