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Essay / Research Paper Abstract
This 6 page paper provides an overview of the various costs and benefits of brownfield reclamation. Bibliography lists 5 sources.
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6 pages (~225 words per page)
File: AM2_PPenvBrnfldTax.rtf
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Unformatted sample text from the term paper:
Wastes 12). The $2 billion incentive was implemented in the hope that it would provide the impetus for the reclamation of the 500,000 or so acres of "abandoned, idle
or under-used industrial and commercial facilities or barren, urban tracts, where redevelopment is complicated by environmental contamination" (World Wastes 12). The incentive allows the costs associated with environmental cleanup
to be written off in the tax year that the cleanup occurs. Effects of Action
There are both advantages and disadvantages of the Brownfield Tax Incentive. It facilitates the speedy reclamation of polluted pieces of land so that they can be safely
used for homes or businesses. The incentive is important in another respect as well. In 1980 the Comprehensive Environmental Response Liability and Compensation Act declared that not only
were past owners of a contaminated site liable for its cleanup, so too were current owners even though they were not responsible for contaminating the land (World Wastes 12).
Although waivers were a possibility under the Comprehensive Environmental Response Liability and Compensation Act, very few were issued by the EPA (World Wastes 12). Obviously, this served as
a deterrent in the purchase of such properties. The Brownfield Incentive, however, protected anyone that purchases such land from incurring liability (at least in part) for additional cleanup (World
Wastes 12). It is important to remember, however, that while government waivers of liability protect landowners against government imposed liability, they do nothing to prevent lawsuits from adjacent property
owners or others who perceive they are faulted by the contamination (World Wastes 12). Costs and Benefits
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