L3C is a Low-profit Limited Liability Company, a for-profit business model that supports financing for socially beneficial enterprises that produce margins below those of a normal market-driven investment. This "third sector" hybrid supports self-sustaining social ventures such as affordable housing, Brownfield redevelopment, urban agriculture and other sustainable development initiatives.

L3Cs bring together a mix of foundations, trusts, endowments, pension plans, individuals, corporations, and governmental entities to achieve social objectives while operating according to for-profit metrics. Its particular niche relates to IRS regulations for Program Related Investments (PRIs) which foundations can make using all or part of their required 5% annual payout. PRIs have been unfavorable for foundations in the past due to expensive "private letter rulings" ensuring the public benefit of their investment. The L3C streamlines the PRI process, leveraging non-profit capital to attract private investment.

Joe Bourg, SRA International

Joe Bourg, a Senior Energy Policy Official with SRA International, will provide a summary of the role of brownfield properties in supporting renewable energy development. His presentation will demonstrate the benefits of this approach to renewable development via a case study of one of EPA's Sustainable Pilot Projects, a feasibility study of a potential 10 MW solar photovoltaic power plant on a closed landfill in the City of Houston, Texas.  Joe will also discuss the lessons learned from this project, and the transferability of the study's approach and results to other potential sites around the country. 

On January 11, 2002, President Bush signed the Small Business Liability Relief and Brownfields Revitalization Act (Pub. L. 107-118, 115 Stat. 2356, ''the Brownfields Amendments''). The law among other things requires EPA to develop regulations establishing standards and practices for how to conduct all appropriate inquiries.

On August 26, 2004, EPA published a notice of proposed rulemaking outlining proposed standards and practices for the conduct of ''all appropriate inquiries.'' The final rule, which is commonly called AAI, was published by EPA on November 1, 2005. The rule makes reference to ASTM 1527-05 which carries the same November 1, 2005 approval date and was published in mid November 2005. ASTM-05 satisfies AAI and can be used now. The AAI rule also provided a one year transition and states that the existing ASTM Standard 1527-00 can alternatively be used to satisfy AAI until November 1, 2006.