What federal program assists cities with the redevelopment of contaminated industrial facilities?

The Brownfield Economic Development Initiative (BEDI) is the correct answer because it is specifically designed to assist cities in the redevelopment of contaminated industrial sites, known as brownfields. Through BEDI, federal funding is provided to support the cleanup and revitalization of these properties, which may otherwise remain unused due to environmental concerns. This program aims to stimulate economic development, create jobs, and improve community health by facilitating the transformation of polluted sites into productive community assets.

In addition to BEDI, other options mentioned do not specifically focus on the redevelopment of contaminated properties. Impact fees are charges imposed on developers to cover the costs of public infrastructure necessitated by new development. Joint ventures/privatization involve partnerships between public and private entities, which do not target the specific issue of contaminated sites. Unlimited Tax General Obligation Bonds represent a financing method for municipalities to fund projects but are not tailored for environmental remediation or redevelopment of brownfield sites. Therefore, BEDI stands out as the targeted federal program aimed at addressing the challenges associated with contaminated industrial facilities.