The Brownfields Revitalization Program provides several key benefits including:
The City of Austin provides free environmental services to entities planning to redevelop or revitalize a property. As long as funding is available, the program may pay the entire cost of an assessment, cleanup planning and cleanup. The City works with its environmental consultants to provide these services, which could save applicants from $5,000 to $75,000 in environmental fees.
Your site conditions are better understood. The perception of environmental contamination can be a substantial barrier to site redevelopment. Most lending institutions require a Phase I ESA before property acquisition.
Applicants receive reports with a summary of overall site conditions and a discussion of options for next steps. These reports will allow for informed decisions. From this point, it is possible to determine if the property is safe for the intended reuse and, if cleanup is required, what will be the best and most cost-effective remedy.