What is a brownfield?

Published 10/09/2007 09:19 AM   |    Updated 04/22/2009 01:25 PM

What is a brownfield?  

: Indiana defines a brownfield site as a parcel of real estate that is abandoned or inactive or may not be operated at its appropriate use and on which expansion or redevelopment is complicated because of the presence or potential presence of a hazardous substance, a contaminant, petroleum, or a petroleum product that poses a risk to human health or the environment.  Many brownfields are obvious eyesores, while some are open fields that look pristine but may have formerly been occupied by a commercial or industrial operation that caused contamination.  When fear of known or suspected contamination is hindering transfer, reuse or redevelopment of a property, the site may be considered a brownfield. 

 

Indiana Finance Authority (IFA)

http://www.in.gov/ifa

 

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