brownfield

Final Opportunity Zone Regulations Include Brownfield Redevelopment

Christmas arrived early for brownfield developers when the United States Treasury Department (“Treasury”) and the Internal Revenue Service (IRS)  released the final set of Opportunity Zone (OZ) regulations on December 19th . The final rules confirm that developers of brownfield sites will be eligible for the favorable tax treatment available under the OZ program.  The […]

Final Opportunity Zone Regulations Include Brownfield Redevelopment Read More »

NY Legislature Passes Bill that would require prevailing wage at brownfield sites.

The New York States Senate and Assembly have passed bills that would require developers to use prevailing wages on projects using state financial assistance. Since the bill would apply to projects that receive tax credits, it could apply to projects enrolled in the brownfield cleanup program (BCP). If signed into law, this bill could have

NY Legislature Passes Bill that would require prevailing wage at brownfield sites. Read More »

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

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

NYSDEC Swamped With BCP Applications Seeking to Beat Changes to Tax Credits Read More »

NJ Court Remands Recission of NFA Letter

A New Jerseyappellate division court ruled that a property owner is entitled to have an administrative hearing regarding the rescission of a no further action (NFA) letter by the New Jersey Department of Environmental Protection (NJDEP). In the Matter of Crompton Colors, Inc., No. A-0778-09T1 (App. Div. 10/27/11) In this case, Hartz Mountain Industries acquired

NJ Court Remands Recission of NFA Letter Read More »

$35MM Landfill Brownfield Project Derailed By Methane Gas

Earlier this year, I discussed the BNY Mellon v Morgan Stanley Mortgage Corp where  the defendant/mortgage originator has been sued by the CMBS trust for a $80MM shopping center loan where methane gas issues led to a default. See detailed post at: http://lschnapf.blogspot.com/2011/07/cmbs-lender-kept-in-case-over-questions.html Now we have another case involving a $35MM development loan where a

$35MM Landfill Brownfield Project Derailed By Methane Gas Read More »

Scroll to Top