Environmental Protection Agency Introduces New Incentives to Encourage Sustainable Development of Contaminated Site

Real estate developers are being offered incentives to include “sustainable development” practices during redevelopment of contaminated property as part of an initiative by the United States Environmental Protection Agency (U.S. EPA). The U.S. EPA defines sustainable development as a long-term approach that balances economically sound development with environmental protection and social responsibility. Examples of sustainable development include use of green building technologies; ecological enhancements to improve wildlife habitat, and incorporation of “smart growth” principles. Smart growth principles include infill development, transit-oriented development, pedestrian-friendly development, and other measures to reduce dependency on automobiles and urban sprawl.