Sec.22a-133m-2. Eligible property

(a) The commissioner in consultation with the commissioner of environmental protection may acquire polluted commercial and industrial property for the purpose of remediation of the pollution. Such acquisition may include, but not be limited to, condemnation of the property in accordance with the provisions of chapter 835 of the general statutes.

(b) Such property may consist of polluted, undeveloped land zoned commercial or industrial; any developed but polluted commercial or industrial property that is abandoned or underutilized; or any developed but polluted commercial or industrial property that is underutilized provided the commissioner finds that the remediation of such property will assist with the retention or expansion of an existing manufacturing or economic base business or businesses operating on such property.

(c) Prior to the acquisition of real property by the Commissioner, the Commissioner of Environmental Protection shall conduct an assessment to evaluate the potential cost of remedial activities of any property proposed for acquisition under section 22a-133m of the General Statutes, provided that an eligible applicant has entered into an agreement with the Commissioner in accordance with sections 22a-133m-1 to 22a-133m-3, inclusive, of these regulations.

(d) After the Commissioner of Environmental Protection performs the assessment of the property pursuant to section 22a-133m-2 (c) of these regulations, the Commissioner shall consult with the Commissioner of Environmental Protection to determine whether to initiate property acquisition. If the Commissioner finds that the estimated cost of remedial activities at the site are not significant and do not warrant participation by the State and, furthermore, that the proposed transferor of the property or the eligible applicant has the financial ability to implement the remediation activities, the Commissioner may require that the transferor or the eligible applicant fully reimburse the State for the costs of the property assessment and provide security to guarantee such repayment to the State.

(e) If, in the opinion of the Commissioner of Economic Development, the cost to assess or remediate the property, or both, represents a significant impediment to the remediation and subsequent reuse of the property for an eligible project, and provided that the Commissioner determines that the property has significant economic development and job creation potential, the Commissioner may provide financial assistance to fund the cost of assessing or remediating the property, or both. In the event that the Commissioner decides to provide financing for such costs the State shall not accept any liability under Federal law.

(f) In deciding whether to acquire any such property described in subsection (b) of this section, the Commissioner may consider any factors he deems necessary, including, but not limited to, the location of the property, the size of the polluted property and the job creation potential of the eligible project. The Commissioner shall give priority consideration to eligible projects located in a targeted investment community.

(Effective February 18, 1994)