13 Jan, 2010 in News & Articles by admin

Missouri approves brownfield tax credits to redevelop commercial building

Spacegrove LLC has been awarded approval of $124,595 in brownfield tax credits to renovate an 84-year-old, 7,500-square-foot building in St. Louis, Missouri. The building was final occupied by WRM Tape as well as Label Manufacturing, which closed 10 years ago, as well as was as well as used by a roofing as well as siding business as well as an appliance service center.

The tax credits approved by the state will help Spacegrove perform the essential asbestos abatement as well as lead-based paint remediation on the building so that it can be turned into office space. The Brownfield Redevelopment Program is in place to provide financial incentives for companies to redevelop industrial as well as commercial sites that possess been abandoned or underused for a minimum of three years as well as are contaminated with hazardous substances similar asbestos. Asbestos was used in many older buildings as insulation as well as fireproofing bodily, but inhaling its fibers can cause humorless illnesses similar lung cancer as well as mesothelioma, a rare form of cancer that attacks the lining of the chest as well as abdomen.

For the filled story, go to STLtoday.

No Responses so far | Have Your Say!

Leave a Feedback

You must be logged in to post a comment.