Brownfields financial incentives

              April 2013
Brownfields Financial Incentives
Financing Brownfields? The availability of capital, especially for
financing site cleanup remains the biggest barrier to brownfields reuse.
Oklahoma works to address this by establishing financial incentives using
direct financing tools, indirect financial assistance and tax incentives.
Oklahoma Quality Jobs Act
The Oklahoma Quality Jobs Act was amended to
apply to basic industries that locate their principal
business activities on contaminated properties of at
least ten acres. These sites must qualify as a federal
Superfund removal site, a National Priorities List
(NPL or Superfund) site, a site formally deferred
to the state in lieu of NPL listing, or a site that was
remediated pursuant to an order of the Oklahoma
Department of Environment Quality (including
Brownfields). These companies may be eligible for the
Quality Jobs Program incentive payments irrespective
of their actual gross payroll or the number of full-time-
equivalent employees in new direct jobs.
Oklahoma Sales Tax Code Exemptions
The Oklahoma Sales Tax Code allows an exemption
for machinery, equipment, fuels and chemicals
incorporated into the treatment process to
substantially reduce the volume or harmful
properties of hazardous waste at facilities approved
by DEQ for the cleanup of contamination.
Clean Water State Revolving Loan Fund
Brownfields sites located within permitted urban
storm water areas may be eligible for the Clean
Water State Revolving Loan Fund. The Clean Water
State Revolving Fund loan program was established
by the 1987 amendments to the Federal Clean Water
Act. Funds can be used
to implement a variety of
structural and nonstructural
best management practices,
storm water runoff controls, green
infrastructure, and brownfields remediation projects.
Proposed projects must participate in the DEQ
Brownfields Program. Brownfield projects that may
be eligible for funding include:
Phase I, II, and III site assessments (for brownfields
with water quality impacts)
Excavation and disposal of underground
storage tanks
Excavation, removal and disposal of contaminated
soils or sediments
Capping of wells and well abandonment
Construction of wetlands
Monitoring of groundwater or surface water for
brownfields contaminants
Oklahoma Brownfields Cleanup
Revolving Loan Fund
This fund provides low interest loans to private
industry, local governments and tribes for the cleanup
of properties contaminated by hazardous substances.
DEQ may provide subgrants to governmental entities
and nonprofit organizations.
This publication is issued by the Oklahoma Department of Environmental Quality as authorized by Steven A. Thompson, Executive Director. Copies
have been printed at a cost of $0.1035 each. Copies have been deposited with the Publications Clearinghouse of the Oklahoma Department of
Libraries. (\fact sheets\land\BrownfieldsFinancialIncentives) 4/2013