Environmental
What is a 'brownfield' site in Illinois and what programs are available for redevelopment?
AAgricultural land designated for residential development; requires state approval
BContaminated former industrial or commercial properties that may be redeveloped after environmental cleanup✓ Correct
CWetland areas protected under Illinois environmental law
DFlood-prone areas ineligible for development
Explanation
Brownfield sites are previously developed commercial or industrial properties that may be contaminated. Illinois has several programs to facilitate brownfield redevelopment, including the Illinois EPA's Site Remediation Program (SRP), Tax Increment Financing (TIF), and various grants and loans.
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Key Terms to Know
Net Operating Income (NOI)
The annual income generated by an income-producing property after subtracting operating expenses, but before debt service.
ZoningLocal government regulations that control land use by dividing areas into zones specifying permitted uses, building sizes, and densities.
VarianceOfficial permission to use land in a way that does not conform to the applicable zoning ordinance, granted by a zoning board when strict enforcement would cause undue hardship.
Eminent DomainThe power of government to take private property for public use, with the requirement to pay the owner just compensation.
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