In July 2021, Ohio’s 2022-2023 budget allocated $500 million in new brownfield funding under various development programs: $350 million for the investigation, cleanup, and revitalization of brownfield sites and another $150 million for the demolition of vacant or abandoned commercial or residential buildings.
The Ohio Department of Development (ODOD) will administer the funding and is
Since the sunset of the Clean Ohio Program in 2013, there has been a strong push for dedicated funding to address brownfield sites in Ohio. The Ohio 2022-2023 budget just signed by Governor DeWine comes through in a very big way by allocating $500 million in new funding under various programs. The budget allocates $350
ASTM International publishes the accepted standard for performance of Phase I environmental assessments to evaluate a property’s environmental condition and assess potential liability for any contamination. U.S. EPA’s “All Appropriate Inquiries” Rule (AAI) recognizes the current ASTM Phase I standard, ASTM 1527-13, is consistent with the requirements of AAI and can be used to satisfy
After taking three years to wind its way through the Ohio General Assembly, Senate Bill 39 may pass out of the Legislature by the end of the year. The Bill would create a “Transformational Mixed-Use Development” (TMUD) tax credit. The TMUD tax credit provides a 10% tax credit for documented development costs. If the project
On June 16, 2020, Ohio Governor Mike DeWine signed House Bill 168, which provides greater flexibility to manage environmental issues on commercial/industrial property. The bill will take effect on September 14, 2020 (90 days after the governor’s signature).
What issue does H.B. 168 address?
The cost to clean up historical contamination at commercial/industrial properties has
The Greater Ohio Policy Center (GOPC) has been calling attention to Ohio’s so-called “legacy cities.” These are the smaller to mid-sized cities across the state other than Cleveland, Columbus, Cincinnati, Toledo, Akron, Canton and Youngstown. Cities like Portsmouth, Mansfield, and Lorain.
A recent Dispatch editorial called attention to GOPC’s efforts regarding Ohio’s legacy cities citing
Many businesses or developers are intimidated about purchasing property former industrial or commercial property that may be contaminated. The fear of the unknown can be the biggest deterrent to considering properties that may be contaminated. Common concerns include:
On February 14, 2019, the IRS will hold a public hearing on its regulations governing Qualified Opportunity Zones. The public comment period closed on December 28, 2018. The IRS is expected to finalize regulations soon after the public hearing.
One of the most notable comments received during the public comment period on the IRS regulations
Since the sunset of the very successful Clean Ohio Brownfield Revitalization Program, brownfield redevelopment has slowed in Ohio. At a time when the economy is finally doing well, and real estate development is in full recovery mode, brownfields are still being passed over for less costly redevelopment options.
This past week, Representative Arndt introduced House