Brownfield Briefs

New Resources: Check Them Out

GIS and Brownfields
International City/County Manage-ment Association (ICMA) has produced a brochure that provides an introduction to geographic information systems (GIS) products and their importance in brownfield redevelopment.
The publication highlights the Florida Department of Environmental Protection (FDEP) use of GIS for management of brownfield redevelopment, and discusses how GIS can facilitate multi-stakeholder engagement in brownfields. Click here to view the brochure. http://www.icma.org/main/ld.asp?from=search&ldid=18278&hsid=1

Cash flow

Generating Cash Flow Now: Interim and Ancillary Uses
By Mary Hashem

The ideal real estate scenario for any property acquired for redevelopment is to begin that development as soon as possible after acquisition. The longer it takes to deliver product, the greater the market and interest rate risk, which may lead to lower returns. Unfortunately, on a brownfield site, immediate site redevelopment may not always be possible.
In addition to typical real estate considerations such as entitlements, rezoning and plan approvals, when developing a brownfield site you also must take into consideration the environmental conditions and the remediation required to allow development to proceed.
In some cases, redevelopment cannot begin for months or years while the property is being cleaned up to an acceptable re-use standard. This is particularly true on large properties with multiple or complicated remediation efforts.
Finding interim uses for brownfield properties can generate cash flow and help cover the carrying costs on the property between the time of acquisition and redevelopment. In addition to interim cash flow, ancillary uses — alternative, long-term usage of a portion of the property — can bridge a financial gap in the deal, and make the remediation and redevelopment of a brownfield site economically viable.
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