Technical Assistance, Tax Incentives and Grants Used at Superfund Sites
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Communities and stakeholders have obtained resources to inform and implement their site reuse goals through a wide array of Federal, State, local government, and private partners.
EPA Support: Communities can leverage a number of EPA programs to accomplish their goals
- SRI engages local government, community organizations, business and residents to proactively plan for reuse of Superfund sites.
- Providing resources to evaluate and build soil, improve habitat for plants and animals, and create a recreational asset for the community.
- Bringing planning tools and resources to communities in order to help them grow in ways that expand economic opportunity, protect public health and the environment, and create and enhance the places that people love.
- Offering job training and employment opportunities for citizens living in communities affected by Superfund sites.
- Improving water quality and water resource access to offer communities affected by Superfund sites a safe water supply, as well as safe opportunities for recreation and community gathering
Technical Assistance and Financing Programs
Communities have found technical assistance or financing to implement their reuse plans. Some of these programs have been listed below. Sites that have utilized these resources are provided as examples.
- Building Sustainable Communities: Funding opportunities and technical resources for farms, small businesses and communities.
- Federal Community Development Block Grants and State-Administered Community Development Block Grants: Annual grant programs to develop viable communities by providing decent housing and a suitable living environment and by expanding economic opportunities, principally for persons of low- and moderate-income.
- Housing and Urban Development (HUD) Department of Transportation (DOT) Environmental Protection Agency (EPA) Partnership for Sustainable Communities: A select listing of funding and technical assistance programs available from these federal agencies to support community efforts to promote livable and sustainable communities.
- Planning and Local Technical Assistance Programs: Economic Development Administration grants to support communities in their comprehensive, entrepreneurial and innovation-based economic development efforts.
- Smart Growth Implementation Assistance: Direct technical assistance in policy analysis or public participatory processes to assist communities encourage growth that fosters economic progress and environmental protection.
Tax incentive programs offer either tax credits or tax depreciation in the interest of encouraging development. Some of these programs have been listed below and, where applicable, sites that have utilized these resources are listed below the appropriate program.
- Business Energy Investment Tax Credit: Tax credits for businesses that utilize renewable energy modalities for their operations.
- Housing and Urban Development (HUD), Empowerment Zone Tax Incentives, and Renewal Community Tax Incentives: These two HUD incentives are worth approximately $11 billion and encourage businesses to open, expand and hire local residents in eligible communities. Incentives include employment credits, a 0 percent tax on capital gains, increased tax deductions on equipment, accelerated real property depreciation and more.
- Modified Accelerated Cost-Recovery System (MACRS): Tax depreciation deductions to recover renewable energy investments for commercial properties.
- Tax Increment Financing (TIF) is a method to use expected future gains in taxes to finance current public improvements and development projects. TIF programs are managed by individual states.