Conn. Agencies Regs. § 22a-133m-2 - Eligible property
(a) The
commissioner in consultation with the commissioner of environmental protection
may acquire polluted commercial and industrial property for the purpose of
remediation of the pollution. Such acquisition may include, but not be limited
to, condemnation of the property in accordance with the provisions of chapter
835 of the general statutes.
(b)
Such property may consist of polluted, undeveloped land zoned commercial or
industrial; any developed but polluted commercial or industrial property that
is abandoned or underutilized; or any developed but polluted commercial or
industrial property that is underutilized provided the commissioner finds that
the remediation of such property will assist with the retention or expansion of
an existing manufacturing or economic base business or businesses operating on
such property.
(c) Prior to the
acquisition of real property by the Commissioner, the Commissioner of
Environmental Protection shall conduct an assessment to evaluate the potential
cost of remedial activities of any property proposed for acquisition under
section
22a-133m
of the General Statutes, provided that an eligible applicant has entered into
an agreement with the Commissioner in accordance with sections
22a-133m-1 to
22a-133m-3,
inclusive, of these regulations.
(d) After the Commissioner of Environmental
Protection performs the assessment of the property pursuant to section
22a-133m-2(c)
of these regulations, the Commissioner shall consult with the Commissioner of
Environmental Protection to determine whether to initiate property acquisition.
If the Commissioner finds that the estimated cost of remedial activities at the
site are not significant and do not warrant participation by the State and,
furthermore, that the proposed transferor of the property or the eligible
applicant has the financial ability to implement the remediation activities,
the Commissioner may require that the transferor or the eligible applicant
fully reimburse the State for the costs of the property assessment and provide
security to guarantee such repayment to the State.
(e) If, in the opinion of the Commissioner of
Economic Development, the cost to assess or remediate the property, or both,
represents a significant impediment to the remediation and subsequent reuse of
the property for an eligible project, and provided that the Commissioner
determines that the property has significant economic development and job
creation potential, the Commissioner may provide financial assistance to fund
the cost of assessing or remediating the property, or both. In the event that
the Commissioner decides to provide financing for such costs the State shall
not accept any liability under Federal law.
(f) In deciding whether to acquire any such
property described in subsection (b) of this section, the Commissioner may
consider any factors he deems necessary, including, but not limited to, the
location of the property, the size of the polluted property and the job
creation potential of the eligible project. The Commissioner shall give
priority consideration to eligible projects located in a targeted investment
community.
Notes
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