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South Carolina Asset Protection News
EPA Awards Over $10.3 million in Grants to Pacific Southwest Groups
(5/12/06) SAN FRANCISCO-- Today the U.S. Environmental Protection Agency awarded over $10.3 million to Pacific Southwest groups for assessment, inventory, redevelopment and cleanup of properties that have sat idle due to perceived or real contamination. The funds will help pay for projects in Californa, Arizona, Nevada, Hawaii, and the Pacific Islands, where grant recipients are working to redevelop “brownfield” properties. Today’s awards were part of $69.9 million in brownfields grants given out to communities throughout the country.
“Today’s grants will help speed the cleanup and redevelopment of properties, providing jobs and helping revitalize neighborhoods,” said Wayne Nastri, administrator of the U.S. EPA’s Pacific Southwest Region. “The brownfields program enables communities to develop idle land into productive community assets.”
The brownfields program encourages turning America's estimated 450,000 problem properties to productive community use. Since the beginning of the brownfields program, the EPA has awarded 883 assessment grants totaling $225.4 million, 202 revolving loan fund grants totaling $186.7 million, and 238 cleanup grants totaling $42.7 million. In addition to industrial and commercial redevelopment, brownfields approaches have included the conversion of industrial waterfronts to river-front parks, landfills to golf courses, rail corridors to recreational trails, and gas stations to housing. EPA's brownfields assistance has leveraged more than $8.2 billion in private investment, helped create 37,525 jobs and resulted in the assessment of 8,374 properties and the cleanup of 93 properties.
Conservation Easement is a legal agreement
A Conservation Easement is a legal agreement reached voluntarily between a landowner and a land trust that protects water quality, wildlife habitat, scenic vistas, agricultural productivity and other conservation values permanently restricts the use of property by current and future landowners keeps property in private hands. Donating some or all of the development rights to a qualified, tax-exempt organization like the Washtenaw Land Trust, and meeting other specific conditions, allows a landowner to be eligible for certain tax benefits.
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Definition:
A type of investment that pools the money of many individuals and acquires real estate or mortgages that are then owned proportionally by each investor.
Bonds
Definition:
Essentially loans or debt. When someone lends you money, he or she gets an IOU that promises the loan will be repaid with interest. When you buy a bond, you're basically buying that IOU. A bond certificate is like an IOU: it shows the amount loaned (principal), the rate of interest to be paid on the loan and the date that the principal will be paid back (maturity date). Bonds can be issued by government agencies, such as the U.S. Treasury and by corporations to raise money.
Diversification
Definition:
Holding several investments that have different risks. The concept of "Don't put all your eggs in one basket." The chance that a single stock or other investment will lose money is offset by the chances of your other stocks and investments making money.
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