What is a Brownfield?
A Brownfield is real estate which requires some form of cleanup and/or investment to make it suitable for industrial, commercial or residential use. The reason for cleanup may be the presence or potential presence of a hazardous substance, pollutant, or contaminant. Cleaning up a property may be funded by tax incentives to encourage development of Brownfield land.
What are the benefits?
• Job creation and retention
• Finding uses for contaminated
and/or vacant sites
• Increasing the tax base
• Spin-off redevelopment
• Stronger Neighborhoods
• Offers an alternative to urban sprawl and the loss of open space
It is the mission of the Brownfield Redevelopment Authority to identify and to facilitate improvement of environmentally distressed, functionally obsolete, and/or blighted areas so as to promote revitalization within the city of Holland. To date, the City has approved 7 Brownfield projects the details for which can be found in the Full Brownfield Plan.
Shown in the photo above, the Baker Lofts building is an example of a successful Brownfield project. The former Baker Furniture factory located at 24th Street and Columbia Avenue is now a combined use residential, retail and office facility.
The developer has the opportunity to gain up to 4 million dollars for site redevelopment costs through captured taxes (Tax Increment Financing).
This project created 10 to 20 new part time and full time jobs in addition to the construction work. This project will also result in a long term increase to the City’s tax base and the reuse of a formerly vacant industrial building.