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Debtor estates and other distressed stakeholders can monetize formerly contaminated parcels which have no higher or better use than solar by leasing or selling those assets to specialized brownfields-to-solar developers. These niche developers can buy suitable parcels outright or offer twenty-year leases which can be transferred with the property. The Inflation Reduction Act and renewable energy-friendly states provide significant financial incentives which allow for generous lease rates. Bankruptcy trustees, debtor estates, creditors and other stakeholders have begun exploring this monetization strategy, which can be accomplished out of court, as long as the assets are at least partially remediated.
What is the brownfields solar financial model, whether through lease or acquisition, and how much revenue would it generate in a sample project?
What types of real estate assets are suitable for solar siting (and no other, higher/better uses)?
What geographical locations/states provide the best financial incentives (tax incentives, rec programs, high power rates) to generate the highest lease rate or purchase price for a trustee, debtor estate or other stakeholder?
What are the relevant provisions of the Inflation Reduction Act?
What are some of the relevant provisions in states with favorable policies?
How can a trustee, debtor estate or other stakeholder mitigate the environmental risk associated with brownfields solar projects?
How can public sector creditors properly dispose of or monetize through lease brownfield properties where the property owner is missing or refuses to appear in court proceedings?
Can environmental liabilities be discharged under section 363 of the Bankruptcy Code? Is that necessary in the context of developing solar on brownfields?
Debtor
Suggested Speakers
Real Estate Property taxes are often a major issue that drives a debtor into chapter 13 and perhaps 7. The various states and municipalities have may different ways to collect the taxes, including the opportunity to sell the taxes to a buyer who can ultimately obtain title to the property for payment of those taxes. This session would be a discussion of common issues faced by debtors, municipalities and courts around the country regarding the payment and collection of these taxes.
Attendees will understand the many ways that real estate property taxes are handled by municipalities and bankruptcy courts.
Attendees will understand the various procedural and legal issues that a debtor much be aware as they attempt to deal with these taxes in their Bankruptcy case.
Consumer
Janet
Baer
janet_baer@ilnb.uscourts.gov
US Bankruptcy Court, ND Il
Now that Covid is over, clearly office workers are not going back to their downtown offices full time. This has created a huge gult of unused office space, especially in our downtown city office towers. The session will discuss the current status of the situation, what has been happening in the Bankruptcy courts as a result and suggest creative ways that can or are being used to solve this problem . I would suggest that this panel include a Real Estate Developer or other type of expert, especially to discuss creative ideas for what to do with the space.
Attendees will understand the various alternatives that Bankruptcy has to address this problem.
Attendees will learn about new and creative ideas that are being suggested and/or used to repurpose office space and save the buildings and their investors from huge losses.
Debtor
Janet
Baer
janet_baer@ilnb.uscourts.gov
US Bankruptcy Court, ND Il
