Commercial Real Estate Group Calls For Continuation of Brownfields Program
NEW YORK — The New York City Chapter of NAIOP (Commercial Real Estate Development Association) recently called on the state Senate and Assembly to include in their respective budget submissions a proposal to eliminate the sunset of the Brownfields program.
The Brownfields program encourages property owners to clean up contaminated sites, by granting tax credits.
Brian Robin, president of the New York City Chapter of NAIOP, said, “The Brownfields program is one of the surest and most immediate ways to spur jobs and investment throughout the state. It’s essential that the state extend the sunset to encourage the continued development of contaminated properties around the state.”