Our nation grew up along our waterfronts. Cities sprung up along oceans, bays, lakes and rivers, taking advantage of these precious natural resources to fuel the industrial revolution. Today, communities are looking at new ways to take back our shores and offer something new to their citizens. This issue of Brownfield News explores some of the many aspects of waterfront redevelopment.

Recently, several major corporations have reported the cumulative after-tax effect of adopting FIN 47 on net income, including Citibank ($49 million) and IBM ($36 million). Other companies are scrambling to identify and estimate their AROs before issuing their year-end financial statements. What does FIN 47 mean for brownfields?

“Sustainability” has become a popular design and development goal. But confusion and misinformation about the economics of building sustainably is widespread. When one looks at the true costs of building sustainably, it becomes apparent that it costs more not to.

The House recently passed H.R. 4128, the Private Property Rights Protection Act of 2005 with a bipartisan vote of 376-38. The measure would forbid states and local governments from taking private property for economic development purposes if they have received any federal economic development dollars in the past two years. Brownfield redevelopments are exempted. Read more.

The House passed the Brownfields Redevelopment Enhancement Act (HR 280), which provides cities and towns with more flexibility for brownfield development. This bill addresses Brownfields activities managed under the Department of Housing and Urban Development. View the bill.

The U.S. EPA Office of Environmental Justice recently announced two opportunities for financial assistance for affected local community-based organizations. The opening period is from January 31-March 31, 2006. Find out more.