Which of the following is a federal program aimed at redeveloping contaminated urban properties?

The Brownfield Economic Development Initiative is a federal program specifically designed to address the issue of contaminated urban properties, commonly referred to as brownfields. This initiative provides financial assistance and support to local governments, non-profit organizations, and other stakeholders to facilitate the cleanup and redevelopment of these contaminated sites. The primary goal is to promote environmental restoration, economic development, and community revitalization by transforming abandoned or under-utilized properties into safe and productive spaces.

In contrast, revenue bonds are a method of financing that allows governments to raise capital based on income generated from a specific project, but they do not specifically target brownfield redevelopment. Impact fees are used to require developers to pay a fee when a new development creates an additional demand for public services, which is unrelated to the redevelopment of contaminated sites. Joint ventures and privatization refer to partnerships between public and private entities that may involve a variety of projects, but they also do not focus specifically on the redevelopment of contaminated properties. Therefore, the Brownfield Economic Development Initiative stands out as the correct response since it has been established to directly address the challenges associated with urban property contamination.