Developer Perspective – Financing Brownfields
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A. FINANCIAL BROWNFIELDS
1. Conventional Lending - Past History
- up to 5 years ago, very difficult to finance contaminated sites
- conventional and mezzanine Lenders stayed clear
- full cleanup required before lending would occur
- great fear of liability on the part of lenders
- lenders required stringent indeminities
- additional fear of significant cost overruns
2. Current Appetite
- Conventional and Mezzanine Lenders are now actively financing contaminated sites and the costs of remediation
- extremely competitive marketplace creating more opportunities
- Brownfields legislation protection of lenders has helped
- provincial intensification policies encourage development of Brownfields
- lenders are more comfortable with liabilities and legislative protections
For the complete presentation view the document below.
