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GLIN==> Northeast-Midwest Weekly Update -- 18 December 2006



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Weekly Update   18 December 2006

 

HIGHLIGHTS 

  • Economic Benefits of Sediment Remediation
  • Financing Great Lakes Ecosystem Restoration
  • Brownfield Tax Provisions Extended and Expanded
  • The Institute Has Moved

Economic Benefits of Sediment Remediation

The Northeast-Midwest Institute in conjunction with Dr. John Braden from the University of Illinois at Urbana-Champaign, and others, has released a report highlighting results of a two-year study on the economic benefits of sediment remediation in Great Lakes Areas of Concern. Specifically, the report details how much residential property values near the Buffalo River, New York, and Sheboygan River, Wisconsin, could increase if contamination in the rivers is eliminated. Click here to read the report.  Contacts: John Braden with the University of Illinois (217-333-5501) or Nicole Mays with the Northeast-Midwest Institute (202-584-3378) for more information.



Financing
Great Lakes Ecosystem Restoration

The Northeast-Midwest Institute has posted its study of how existing institutions within the Great Lakes region can finance ecosystem restoration.  The report pays particular attention to clean water state revolving funds, water and sewer authorities, port authorities, and state environmental bonds.  The study is the first deliverable on a financing project supported by the Great Lakes Protection Fund.  Click here to read the report and its appendices.  Contact:  Evans Paull at the Northeast-Midwest Institute (202/464-4004).




Brownfields Tax Provisions Extended and Expanded

The “tax extenders” bill that Congress recently approved included a provision to extend the “Brownfields Expensing Deduction” through 2007 and to expand the program to include petroleum cleanups.  The brownfields tax expensing law, Section 198 of the Tax Code, makes cleanup expenditures deductible in the year that the expenses were incurred.  This approach, originally adopted in the Community Renewal Act of 2000, treats cleanup of “Hazardous Substances” as a “repair” to the land, rather than a “capital expenditure” that must be depreciated over time.  For more information about the credit, see: http://www.epa.gov/swerosps/bf/bftaxinc.htm

 


 
The Institute Has Moved

The Northeast-Midwest Institute has moved across Capitol Hill.  Its web site, email addresses, and phone and fax numbers remain the same (202/544-5200 and 202/544-0043 [fax]).  Click here for a map.  The full new address is:

            Northeast-Midwest Institute

            50 F Street, N.W., Suite 950

            Washington, D.C.   20001 


 

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Northeast-Midwest Institute

 50 F Street, NW, #950

Washington DC 2000

Ph. 202 544 5200 

www.nemw.org 

 

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