The Brownfield Redevelopment Authority (BRA) is the administrative board (see: Board Members) set-up to advance the goals and accomplish the tasks identified for the Oakland Brownfield Initiative.
Under state law, a BRA is the only way to access certain financing incentives available, including a single-business tax credit and/or tax increment financing to recover remediation expenses. BRAs also allow for the development of a revolving loan fund, and a means for recovering administrative costs of the BRA.
Oakland County anticipates utilizing its BRA in three specific ways:
To assist key developments in communities that may be adverse to establishing their own BRA as part of the County's ongoing economic development efforts and/or to protect key environmental assets.
To assist specific developments in communities that may have a very few number of parcels or limited capacity to administer a redevelopment project.
To systematically administer and redevelop tax reverted property that the County may come to own.
