BCP tax credits

NYSDEC Proposes BCP “Underutilized” and “Affordable Housing Project” Definitions

New York Brownfield Cleanup Program / By

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 […]

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NYSDEC Swamped With BCP Applications Seeking to Beat Changes to Tax Credits

New York Brownfield Cleanup Program / By

As we previously discussed, Governor Andrew Cuomo and the Legislature reached an agreement on sweeping reforms to the Brownfield Cleanup Program (BCP) as part of the 2015-16 state budget. Among the significant changes which are scheduled to take effect on July 1st are that sites located in New York City will no longer be eligible

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Expiration of BCP Tax Credits Could Lead to Surge in “Pave and Wave” Cleanups

Brownfields, New York Brownfield Cleanup Program / By

The New York Brownfield Cleanup Program (BCP) is known for producing robust cleanups. One reason is the stringent cleanup standards of 6 NYCRR Part 375 but another is the BCP  tax credits that reward applicants who achieve track 1 unrestricted cleanups. Applicants that achieve unrestricted (track 1) cleanups are entitled to claim 50% of their

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NYSBA Brownfield Task Force Issues Report Recommending Changes to Brownfield Program

New York Brownfield Cleanup Program, NYC OER / By

Following the failure of the Legislature and Governor to reach agreement on comprehensive reform of the Brownfield Cleanup Program (BCP), the Brownfield Task Force (BTF) of the New York State Bar Association, which I co-chair with David Freeman, convened a cross-section of stakeholders to study the BCP. After a series of meetings and conference calls,

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Governor Cuomo Proposes BCP Reform: Déjà vu all over again?

Brownfields, New York Brownfield Cleanup Program, NYC OER / By

Governor Andrew Cuomo  unveiled his 2015-16 budget on January 21st. As anticipated, the budget contains sweeping reforms to the Brownfield Cleanup Program (BCP) in Part R of the Revenue Article VII Legislation. The BCP amendments are substantially similar to the changes proposed in 2014 which some tweaking around the margins.  Click here for a copy of

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50% of BCP Projects Fail to Obtain COCs in 2014

New York Brownfield Cleanup Program / By

Earlier this year, we reported that the New York State Department of Environmental Conservation (NYSDEC) was expecting to issue a record number of Certificates of Completion (COCs) under the Brownfield Cleanup Program (BCP) in 2014. Based on anticipated project completion dates provided by applicants, NYSDEC projected that it could issue as many as 92 BCP COCs by

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NY Legislature Passes Brownfield Extender Bill But Will It Matter?

Brownfields, New York Brownfield Cleanup Program / By

[Update: At a bill signing ceremony in Buffalo on June 24th, Governor Cuomo was quoted as saying he would sign the BCP extension] On June 20th, the NY State Senate approved legislation that would extend the expiration of the Brownfield Cleanup Program (BCP) to March 31, 2017. The same bill had been passed by the Assembly earlier

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