Brownfields are sites whose former use involved hazardous materials. These can range from discontinued manufacturing facilities to shut-down military bases and abandoned gasoline stations. Federal programs exist to transform these sites into safe areas for redevelopment.
Redevelopment is the process of demolishing existing structures and constructing new improvements on a site. The new improvements often differ significantly from the old structures.
Tax Increment Financing (TIF) is a public financing method used by municipalities to subsidize costs for development or redevelopment projects in distressed areas, with the goal of stimulating economic growth and increasing future tax revenues.
