New York’s Brownfield Cleanup Program (BCP) is among the most successful brownfield programs in the nation, driving millions of dollars of investment across the state, and in particular, upstate cities that have benefited greatly from this important economic development tool.
The BCP is due to sunset at the end of 2015. Given the lead time that most significant brownfield projects have, both houses of the New York State Legislature recognized the chilling effect this sunset date has had, and will continue to have, on critical development projects. Accordingly, they passed bills early this summer to extend the BCP through March 31, 2017.
On several occasions New York Governor Andrew Cuomo has indicated his support for the BCP extension. Unfortunately, as 2014 draws to a close, Governor Cuomo has not yet signed the BCP extension into law.
The Buffalo News, in a recent editorial, pushed the governor to sign this important legislation into law. A number of business organizations, including The Business Council of New York, Buffalo Niagara Partnership, and The Amherst Chamber of Commerce, have strongly encouraged signing the extension as well.
Time is short for the governor to act on this. As The Buffalo News editorial pointed out, significant development projects are on hold or jeopardized due to uncertainty with the BCP. The governor should extend the BCP through March 31, 2017, now.