In keeping with the Partnership’s mission of supporting the education and training of brownfield professionals, workers, and students, we are pleased to share with you the Fall 2021 Issue 2 of Blueprint, the student-led publication of NYU Schack Institute of Real Estate (view here). We call your attention to the article about the research by Viquar Chaudhry entitled NY Brownfield Cleanup Program and Tax Credit Analysis. It's found on page 19 of the publication linked above.
Sound familiar to members of the NYCBP? It should! Mr. Chaudhry is the NYU graduate student who worked alongside Professor Barry Hersh of the NYU SPS Schack Institute of Real Estate under contract to the New York City Brownfield Partnership on the update to the groundbreaking analysis of the NYS Brownfield Tax credits and their importance to remediation and redevelopment throughout the state. If you attended the Annual Membership Meeting of the Partnership on October 28, 2021, you heard both Mr. Chaudhry and Professor Hersh present the results of the analysis. You have access to the report on the Partnership’s website (https://nycbrownfieldpartnership.org/nycbp-industry-news/11911863).
The Partnership has shared the report with the NYS Bar Association, REBNY, other like-minded real estate and environmental professional organizations, government officials and others interested in the continued success of the New York State Brownfield Program (NYS BCP) and Tax Credits. The Partnership’s report is the only in-depth look at the three generations the NYS BCP and clearly shows that the program has become a “more targeted and effective redevelopment tool across the state. Formerly contaminated industrial sites have been remediated and redeveloped, especially benefitting upstate communities. In NYC, the BCP has made a significant contribution to housing, including affordable housing.”