The New York State Department of Environmental Conservation (“NYSDEC”) has received numerous inquiries about issues arising with the execution of Brownfield Cleanup Program (“BCP”) agreements and amendments because of the Covid19 pandemic. In response, the NYSDEC has issued the following guidance: The DYSDEC will grant reasonable extensions of time for the execution of Brownfield Cleanup […]
On Saturday, March 21, 2020, New York Governor Andrew Cuomo issued a new Executive Order No. 202.8 (EO 202.8) “Continuing Temporary Suspension and Modification of Laws Relating to the Disaster Emergency ” requiring all businesses and not-for-profit entities to require 100% of workers to work from home effective at 8 p.m. Sunday, March 22, 2020.Businesses
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 »
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 »
The New York State Brownfield Cleanup Program (BCP) has demonstrated how tax incentives can stimulate the development of contaminated properties. Now that the federal Internal Revenue Service (IRS) has designated over 8,700 Qualified Opportunity Zones (QOZs), contaminated sites in low-income areas across the United States may be able to benefit from this new federal tax
Opportunity Zones and Brownfields Read More »
A little-noticed bill that was passed at the end of 2017 made significant changes to the NJ Hazardous Discharge Site Remediation Fund (HDSRF) grant and loan program. The legislation, A1954 signed into law on 1/15/18. Below are a summary of the changes. Thanks to our friends at the Brownfield Coalition of the Northeast (BCONE) for
Changes to NJ Brownfield Funding Program Read More »
Earlier this week the Trump Administration unveiled its “Legislative Outline for Rebuilding Infrastructure in America”. Among the proposals were three amendments to the federal Comprehensive Environmental Response, Compensation and Liability Act (CERCLA) that are designed to incentivize redevelopment of contaminated properties. The proposal can be viewed Here. Since this document is an overview, it does not
Trump Administration Infrastructure Plan Proposes CERCLA Amendments Read More »
[Editors’ Note- The final Budget that was approved at the end of March did not include the BCP Tax Credit Deferral ]. In his recent budget proposal, Governor Cuomo proposed a three-year BCP tax credit deferral. The proposed deferral which is located in Part S of Revenue Article VIII is similar to that enacted in
NY Governor Proposes Another BCP Tax Credit Deferral Read More »
Regulatory reform is at the centerpiece of the Trump Administration’s plan to stimulate economic growth. During the presidential campaign, candidate Trump vowed to rollback a variety of Obama Administration Climate Change Initiatives but said little about EPA remedial programs such as the federal Comprehensive Environmental Response, Compensation and Liability Act (CERCLA or superfund). Based on
Remedial Program Reform Proposals for EPA Administrator Pruitt Read More »
The NYSDEC’s much awaited revised definition of underutilized that was required as part of the 2015 Brownfield Cleanup Program (BCP) reforms will be published in the March 9, 2016 New York State Register (NYR). The proposed definition is currently available on the NYSDEC website As previously discussed, the 2015 BCP amendments replaced the ‘as of
NYSDEC Proposes Revised Brownfield “Underutilized” Definition Read More »