It should be noted that both state and federal officials are funding projects to remedy environmental and safety issues that have persisted for many years. New funding will also recycle many public assets and make them revenue-producing in the future. Federal and state funding sources are openly and aggressively incentivizing private sector investors to help cover the costs for these types of projects.
New funding for remediation projects is one example. In December, state leaders in Connecticut announced the availability of $24.6 million in funding for clean-up projects with the objective to attract private sector investors in 16 municipalities throughout the state. Without remediation, the selected sites are unusable and often hazardous due to blight, pollution, and contamination. The plan is to transform numerous parcels of land into attractive sites for redevelopment.