Affiliate Broker Tennessee (TN PSI) National Practice Exam `

Which statement about the impact of the Brownfields Law is true?

1. The law primarily benefits commercial developers

2. The law incentivizes residential development

3. The law may provide funds for cleaning contaminated sites

4. The law eliminates all environmental regulations

The correct answer is: The law may provide funds for cleaning contaminated sites

The statement regarding the impact of the Brownfields Law that holds true is that the law may provide funds for cleaning contaminated sites. The Brownfields Law, primarily through the federal Brownfields Revitalization Act, was established to encourage the redevelopment of properties that are underused or abandoned due to the presence of environmental contamination. By providing financial assistance, grants, and resources for assessment and cleanup, the law aims to mitigate risks associated with contamination and stimulate investment in these areas. Through these funding provisions, the law supports efforts to clean up these sites, ultimately leading to their redevelopment and revitalization. This has significant economic and community benefits, including enhancing property values, attracting new businesses, and providing public spaces. While the law may indirectly influence various types of development, including residential, the primary focus is on cleanup and remediation, enabling safe and productive use of contaminated properties.