Canadian City Urges Deal to Remediate Brownfields
March 29, 2011
In this article, city planner, Jason Ferrigan, of Greater Sudbury, Canada, makes the case for the redevelopment of brownfields. In a report presented to council, Ferrigan gave an example of a former gas station on a key corner lot situated in a town center surrounded by homes and businesses. The vacant property is assessed at $69,000 and generates $2,276 in annual tax revenue. If developed into a one-story commercial building, Ferrigan estimated the assessed value would increase to $467,000 with an annual tax revenue of $22,000 – that’s nearly a $20,000 increase, or 866 percent.
Click here to read the complete article in the Sudbury Star newspaper.