Much like with the Great Recession of 2008, the Covid crisis has caused many brownfield projects to stall. As a result, BCP projects that received their Certificate of Completion (COCs) in 2010-11 are at risk of losing the right to claim the tangible property tax credit since the ten year period to put the property […]
The New York City Office of Environmental Remediation released an update to its Searchable Property Environmental E-Database (SPEED 2.0) environmental mapping tool in April. SPEED is a useful due diligence tool that allows users to obtain environmental information at a city, borough, neighborhood or site level. All of SPEED’s data is regularly updated to provide
OER Launches Revised Searchable Property Environmental E-Database (SPEED 2.0) Read More »
As we discussed in a prior Post, the Empire State Development Corporation (ESD) issued a guidance document that were exempt from Governor Cuomo’s Executive Order 202.8 banning non-essential services from operating to control the spread of the covid19 virus. In response, the New York State Department of Environmental Conservation (“NYSDEC”) issued its own Guidance describing the
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
In a prior post, we discussed a letter NYSDEC issued to staff and standby contrators interpreting Governor Cuomo’s Executive Order 202.6 (EO) and the Empire State Development Corporation Guidance on shutdown of all non-essential services and activities. DEC has now posted further clarification on its website that it considers the following activities as essential services:
NYSDEC Issues Further Guidance on Essential Activities For Brownfield Projects Read More »
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
Earlier this month, the New York State Department of Environmental Conservation (NYSDEC) just released its new “Guidance for Sampling and Analysis of PFAS Under NYSDEC’s Part 375 Remedial Programs January 2020” (“PFAS Guidance”). The purpose of the PFAS Guidance is to establish procedures for sampling PFAS and for determining if PFAS is a contaminant of concern for
NYSDEC Issues Revised Guidance for PFAS Sampling and Analysis 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 »
[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 »