Redevelopment of a blighted or contaminated site is not an easy task, however, there are steps you can take to reduce the risks involved in the process and attract the right investment. To that end, in December 2021, the EPA Office of Brownfields and Land Revitalization added two documents to their Land Revitalization Toolkit: Preparing Your Plan for Site Reuse: How Your Community Can Examine Brownfield Revitalization Possibilities and Creating a Brownfields Investment Package: Attracting Resources for Brownfields Revitalization.
The first guide, Preparing Your Plan for Site Reuse, will help communities analyze and prepare brownfields sites for reuse and to design and calculate site reuse opportunities. It covers how to perform a site reuse assessment (including resource and document research, market assessment, resource tracking, and more) as well as how to determine site reuse potential. Helpful sample templates are included in the appendices.
After collecting all the information and identifying the gaps from the reuse assessment and financial analysis, the Creating a Brownfields Investment Package guide will help communities transform this information into a compelling story by teaching them how to speak the “language of a developer.” It defines the parameters of a brownfields investment package and teaches communities how to then create and use it by stipulating exactly what information should be included and providing examples.
Read more about these guides on the Redevelopment Institute blog here and check out the entire EPA Land Revitalization Toolkit here.