The New York State budget process is notorious for its murky and secretive process. Under the State Constitution, the Governor proposes a budget in mid-January that contains substantive policy legislation and can unilaterally amend the proposal within 30 days. After the 30-day period expires, amendments can only be made with consultation of the Senate and […]
In a prior Post, we discussed that Governor Andrew Cuomo’s proposed executive budget for Fiscal Year 2022 provided an extra two years for owners of brownfield projects that received COCs between March 20, 2010 through January 1, 2012 to claim the qualified tangible property tax (QTP) credit. The extension was intended to provide relief to
NYSDEC has released its proposed its “affordable housing project” and “underutilized” definitions that were required by the Brownfield Cleanup Program (BCP) amendments. These definitions, along with the other criteria for eligibility for tangible property tax credits (the site’s location in an EnZone or the site meeting the statutory definition of “upside down”), will be used
NYSDEC Proposes BCP “Underutilized” and “Affordable Housing Project” Definitions Read More »
The New York City Office of Environmental Remediation (OER) recently announced the creation of the NYC Affordable Housing Cleanup Fund (AHCF) to help remediate and support affordable housing projects in disadvantaged communities. Unlike the OER Brownfield Incentive Grants (BIG) program which are funded from appropriations, OER will be using $1.8MM in EPA Revolving Loan Fund
OER Launches NYC Affordable Housing Cleanup Fund Read More »
For the third straight year, a brownfield project we have worked on has been recognized for one of the Brownfield Awards issued annually by the NYC Brownfield Partnership to promote excellence in brownfield redevelopment. Each year the NYC Brownfield Partnership formally recognizes successful NYC brownfield clean-up and redevelopment projects at the Big Apple Brownfield Awards (BABA)
Another Client Project Wins Big Apple Brownfield Award Read More »