The New Jersey Economic Development Authority (NJEDA) released information Sept. 1 on the Brownfields Redevelopment Incentive (BRI) Program for public feedback.

The initiative, established by the New Jersey Economic Recovery Act of 2020 (ERA), provides $300 million in funding over six years to cover specific costs associated with brownfield remediation and redevelopment, with a focus on community development.

Awards of up to 50% of remediation costs are available for eligible sites for a maximum of up to $4 million. Brownfield sites in a Government Restricted Municipality or Qualified Incentive Tract may be eligible for up to 60% of rehabilitation costs, up to a maximum of $8 million.

The tax credits are scored and awarded on a competitive basis with the NJEDA partnering with the N.J. Department of Environmental Protection (NJDEP) to craft the evaluation criteria.

“The Brownfields Redevelopment Incentive is part of a suite of programs created under the ERA that sets a high bar for equitable and inclusive development,” said NJEDA Chief Executive Officer Tim Sullivan. “Input from community stakeholders will help to ensure the BRI advances Gov. Phil Murphy’s and the N.J. State Legislature’s vision for incentivizing projects that turn vacant and contaminated sites into vibrant economic assets, with a continued focused on community development.”

In addition to accepting public feedback, the NJEDA will also hold two public listening sessions that are scheduled for Sept. 7, at 2 p.m. and Sept. 8, at 1 p.m.

Members of the public can review preliminary information, submit written feedback on the program, and register for the listening sessions here.

See also

The NJEDA is accepting applications for the New Jersey Asset Activation Planning Grant Program, which offers funds to communities and stakeholder groups for planning focused on redevelopment and reuse of vacant and underutilized assets. Click here to learn more.