ALBANY – New York is tightening the tax credits for cleanup and redevelopment of contaminated commercial and industrial sites called brownfields, generally limiting the rebuilding credits in New York City to less lucrative property.
Established in 2003, the program will run 10 more years under the deal recently approved by the Legislature and Gov. Andrew Cuomo in the state budget. The budget also extended the state program for cleaning up more polluted Superfund sites for a decade with $1 billion in funding, as well as state support for municipal brownfields cleanups.
