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The Economic Benefits of the Clean Ohio Revitalization Fund and the Future of Brownfield Redevelopment in Ohio
1. The Economic Benefits of the Clean Ohio Revitalization Fund
and the Future of Brownfield Redevelopment in Ohio
Presentation to the
Environmental Law
Section of the Cleveland
Metropolitan Bar
Association
October 7, 2013
Photos of the remediation and construction of Jeffrey
Place, in Columbus. Ohio. Ohio Development Services
Agency
Lavea Brachman, JD, MCP
Executive Director
Greater Ohio Policy Center
lbrachman@greaterohio.org
2. Greater Ohio Policy Center:
“Think” and “Do” tank
An outcome-oriented statewide non-profit
organization that develops and implements
policies and practices to:
• revitalize Ohio’s urban cores and
metropolitan regions
• achieve sustainable land reuse and
economic growth
3. Greater Ohio Policy Center:
“Think” and “Do” tank
Since its formation in 2008, GOPC
has championed revitalization
and sustainable growth in
Ohio, advocating policies and
practices that enhance our
metropolitan regions as
economic drivers and preserve
Ohio’s open space and farmland.
4. Greater Ohio Policy Center Research
• 2010 Restoring Prosperity to Ohio, a report cowritten with the Brookings Institution
• 2013 report Investing in Brownfields: The
Economic Benefits of the Clean Ohio
Revitalization Fund
• 2013 policy brief on Regenerating America’s
Legacy Cities for the Lincoln Institute of Land
Policy
5. Restoring Prosperity Findings
State policies undercutting
Ohio’s competitiveness:
• Hollowed out urban core &
sprawl
• Not building on our
urban/metro assets
• Insufficient regional/metro
economic growth
• Fragmentation due to too
much government
6. Restoring Prosperity Findings
• Ohio can compete in the “next
economy”
• But to compete, we must adapt
• Reforms in Innovation,
Infrastructure, Quality of Place,
Workforce & Governance
7. Clean Ohio Fund Background
The Clean Ohio Fund is a state bond
approved by Ohio taxpayers in 2000, and
again in 2008, to support a “package”:
• brownfield revitalization (CORF)
• farmland preservation
• green space conservation, and
• recreational trails
8. Clean Ohio Fund Background
• Ohio voters overwhelmingly supported
the Clean Ohio Fund
• The voter initiative in 2008 passed in all 88
counties
• 70% of all Ohioans voted in favor of the
Clean Ohio Fund
9. Clean Ohio Fund Background
$400 M in both 2000 & 2008:
• $ 200 M for brownfield revitalization
(CORF)
• $200 M for farmland preservation, green
space conservation, and recreational trails
10. The Original Clean Ohio Revitalization Fund
The Clean Ohio Revitalization Fund (CORF) was
the Clean Ohio Fund’s brownfield
redevelopment program.
• Funding source: bond on liquor tax profits
• Primary factors and requirements:
– Grants awarded and loans made shall provide not more
than seventy-five percent of the estimated total cost of a
project.
– A grant or loan to any one project shall not exceed three
million dollars.
11. Value Proposition of CORF
Since the upfront cost of brownfields is
prohibitive, CORF allows developers to
redevelopment properties they otherwise
would not have been able to.
12. The Clean Ohio Revitalization Fund
Since 2002, CORF has
made grants totaling
over $315 million to
support the clean-up of
160 brownfield sites in
71 communities.
13. Why We Care about
Brownfield Redevelopment in Ohio
• Brownfield sites are scattered by the hundreds
throughout the state in cities of all sizes as
well as rural areas, a legacy of Ohio’s industrial
past.
• Land consumption is outpacing population
growth in Ohio.
• Economic benefits of greenspace
14. Land Consumption in Ohio has
Outpaced Population Growth
• Ohio is 8th in land conversion
• But Ohio is only 45th in population
growth
• Ohio’s rate of development of acres
outpaced its population growth by
almost 6 times in last thirty years
• Developing new land without increasing
population leads to vacancies in urban
areas.
15. Why CORF is Important for Communities
• Proximity to a brownfield reduces adjacent
property values by approximately 20 percent.
• Brownfield cleanup increases nearby property
values by approximately 5-13 percent.
16. Investing in Brownfields:
The Economic Benefits of CORF
In 2013, GOPC conducted the first independent
study of CORF to analyze the statewide economic
impacts of public investments in brownfield sites:
17. Report Methodology
• Analyzed a representative sample of 21 CORF
projects at various levels of development and
success located across the state.
• 21 CORF projects selected for the diversity in
their degree and type of end use, geographic
location, and other characteristics.
18. Report Findings
The GOPC study found the CORF generated
substantial direct and indirect economic impacts:
1) The 21 projects resulted in a net positive value
for the state’s investment, producing $1.16 billion
in one-time contributions and contributing $1.4
billion annually to the state’s Gross Domestic
Product.
19. Report Findings
2) Goods and services related to predevelopment
alone produced a return on investment of $4.67
in new economic activity for every one dollar
spent by the Program on the 21 projects.
20. Report Findings
3) For every direct job created or sustained
through activities tied to a remediated
brownfield, more than one additional job was
indirectly created or sustained by the 21 projects.
21. Report Findings
4) Predevelopment and construction activities in
the 21 projects created more than $360 million in
household and business earnings, while ongoing
project operations produce almost $500 million a
year in household and business earnings.
22. Report Findings
5) The 21 projects annually generate $55 million
in state and local taxes and were responsible for
an additional $42 million in one-time state and
local taxes.
23. Report Findings
If all 160 CORF-funded sites experienced the same level of
success and failure demonstrated in the 21 sites of the
study, benefits to Ohioans would be projected at 7.6 times
the estimated benefits, including:
• Over $8 billion in one-time and over $10 billion in
annual contributions to the state GDP
• Over $2.5 billion in one-time household and business
earnings based on remediation and construction
activities and over $3.5 billion in annual household and
business earnings
• $418 million annually in state and local taxes.
24. Report Findings
GOPC concluded that the
Clean Ohio Revitalization
Fund has:
• Protected Ohio’s
environment
• Served as a catalyst for
economic development in
Ohio’s communities
• Generated state-level
return on investment
25. Benefits of Brownfield Redevelopment
CORF helps support
economic development and
job creation by making our
communities more attractive
to businesses and individuals
looking for a high quality of
life.
26. Program in Transition
• The CORF program is in transition since
JobsOhio was created.
– Funding for brownfield redevelopment has been
channeled to JobsOhio.
– The program now falls under the administration of
JobsOhio.
27. Current status of Brownfields
Redevelopment financing in Ohio
JobsOhio is in process of creating a brownfields
program that aligns with its other programs.
28. Program in Transition
Program is now the JobsOhio Revitalization Program:
• Beginning to accept applications
• Priority will be placed on projects that support near term job
creation opportunities for Ohioans.
• JobsOhio will refer its recommendations to the Director of
the Ohio Developmental Services Agency or Clean Ohio
Council for review and potential approval.
29. JobsOhio Revitalization Program
According to JobsOhio, the program will be:
• Launched in late 2013
• A more streamlined and responsive program
• Open to public and private entities
• Funded by up to $43 million annually
• Patient capital with flexible terms
30. Increasing Demand for Urban Living further Increases
Importance of Brownfields Redevelopment
Societal changes since the program was created
15 years ago:
• Increasing demand for green, urban living
• Demographic trends: Gen Y and Baby Boomers
• Cities and metros are driving economies
• The time is ripe for an urban agenda in Ohio
The Economic Benefits of the Clean Ohio Revitalization Fund and the Future of Brownfield Redevelopment in Ohio
Ohio’s “smart growth” organizationPromote – through research, public education and grassroots advocacy – public policy to grow Ohio’s economy and improve the quality of life through intelligent land useNon-partisan, non-profit, primarily foundation-funded
All reports can be found on GOPC’s website
The fiscal, budgetary and housing crises of the Great Recession have been a wakeup call to state and local leaders Unparalleled opportunity to press for transformative state-level actions our cities needTime to Act is Now
COF was a brilliantly crafted program with four sub-programs that rallied diverse interests (urban, rural; public, private) around shared goals.Originally approved by Ohio voters in 2000, CORF awards grants to local governments to clean up brownfields sites and prepare them for redevelopment with private sector partners. Brownfields are: vacant and abandoned properties that are affected by real or perceived environmental contamination.
Ohio voters overwhelmingly support all programs in the Clean Ohio Fund because they contribute to economic and community development.
COF was a brilliantly crafted program with four sub-programs that rallied diverse interests (urban, rural; public, private) around shared goals.Originally approved by Ohio voters in 2000, CORF awards grants to local governments to clean up brownfields sites and prepare them for redevelopment with private sector partners. Brownfields are: vacant and abandoned properties that are affected by real or perceived environmental contamination.
For more than a decade, CORF was administered jointly by the Ohio Department of Development (now Ohio Development Services Agency) and the Ohio EPA.The program was administered in rounds, with grants of up to $3 million for acquisition, demolition, remediation, infrastructure and infrastructure-related activities.Statutory language: http://codes.ohio.gov/orc/122.658v1 Funding source: http://codes.ohio.gov/orc/151.40
Economic Benefits of Greenspace: TPL did a study on economic benefits of COF conservation programs and found a $4 return for every dollar invested.(Overall: Want to influence decisions around program’s future)
45th in population growth from 2010-2012 (US Census)Growth and development has slowed with the recession, which has led to opportunities for infill development.
Background on report:Basic research question—what are the economic benefits of CORF?Study aimed to inform the public dialogue about the program’s future and to ensure that the program fulfills its mission of incentivizing brownfield redevelopment.Report is available on the GOPC website
Background on methodology:Hired economist and did qualitative interviewsData from ODSA (released in 2012)Due to time and resource constraints and data availability, the study narrowed the sample of 103 eligible projects to 21 projects for detailed analysis.The analyzed projects are representative of all 160 CORF projects.
One-time benefit: $360 million in household and business earningsAnnual benefit: ongoing project operations produce almost $500 million a year in household and business earnings.
The Clean Ohio Revitalization Fund has been an incredible asset to OhioThe study also identified a “ripple effect” throughout the state economy from the jobs created through the cleanup activities and reuse operations.
Benefits of brownfield redevelopment:Blight elimination and neighborhood stabilizationTies into community revitalization efforts by local non-profits and anchor institutionsHelps to meet demand for urban, green living
Priority will be given to job creation and retention projects within JobsOhio targeted industry sectors, those making additional capital investment beyond remediation and redevelopment and/or projects with wages higher than the average local wage rate.Eligible costs: demolition, environmental remediation, building renovation, site preparation, infrastructure.
It will remain a loan and grant fund.Available funding: site improvement loans, site improvement gap grants, asbestos and lead paint abatement grants