Communities with complete BOA Nomination Plans may request that the Secretary of State designate the area as a Brownfield Opportunity Area (BOA). BOA designation facilitates the realization of the vision and goals laid out in the BOA Plan, to return brownfield sites to productive use, and to restore environmental quality. Designation is contingent on a Nomination that appropriately reflects community priorities, presents an attainable and realistic plan to promote redevelopment, and is consistent with the applicable provisions of the General Municipal Law, Article 18 - C, Section 970-r. By requesting designation of a BOA, a municipality or community based organization affirms that it is committed to the revitalization of the area impacted by brownfields.
Designation of a BOA provides the following tools and incentives to encourage re-investment in the area:
Support: The NYS Department of State is committed to providing ongoing support to municipalities and CBOs to pursue implementation of BOA Plans in designated BOAs.
Priority and preference: As per General Municipal Law, Article 18-C 970-r, projects located in a designated BOA may receive a priority and preference when considered for NYS grants and other financial assistance.
Predictability: Designation of a BOA demonstrates community support of and commitment to the goals of the BOA plan. This removes risk and uncertainty ordinarily associated with investment in a transitional or marginal market by assuring potential developers that their investment is part of an overall plan for revitalization of the area, and by providing confidence that development proposals consistent with the BOA plan are likely to be approved.
Brownfield Cleanup Program Tax Credit: Developers that are participating in the Brownfield Cleanup Program (BCP) to remediate and redevelop sites in a designated BOA are eligible for a tax credit “bump-up” of up to 5% if the development conforms to the BOA Plan. Read more here:http://www.dos.ny.gov/opd/programs/brownFieldOpp/BOAConformance.html