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The Brownfield Tax Credit Helps THE WHALES!

The Brownfield Tax Credit Helps THE WHALES!

In 1863, Gloucester’s Tarr and Wonson Paint Manufactory revolutionized the maritime industry by producing the world’s first anti-fouling paint for boat bottoms. Boats that once had to be scraped every 6 weeks for barnacles and marine life could now last 12 months. But after more than 100 years, in 1980 the Manufactory shut its doors and was left a crumbling landmark overlooking Gloucester Harbor.snot bot

Now the Manufactory is enjoying a second chance to serve the maritime world as the headquarters of Ocean Alliance Inc., a not-for-profit dedicated to whale and ocean health. Ocean Alliance raises public awareness through research and education, but they may be best known more recently for their ingenious “‘SnotBot” drones that collect non-invasive biological samples from spouting whales.

Environmental due diligence activities performed by the non-profit prior to purchasing the property revealed historical contamination by metals, volatile organic compounds (VOCs), polycyclic aromatic hydrocarbons (PAHs), and petroleum hydrocarbons in the soil. The non-profit’s Licensed Site Professional (LSP) attributed the source of the release to past manufacturing of copper and naphtha-based paint. Ocean Alliance remediated the site and refurbished the building with the purpose of making their research facility and public museum a Gloucester destination. The Manufactory is once again invigorating the local community, this time as a bastion of research and public awareness on ocean health.

Ocean Alliance worked with Cooperstown Environmental LLC of Andover to take advantage of a key incentive program – the Massachusetts Brownfields Tax Credit. Cooperstown Environmental is the leading authority in this state tax credit program, having submitted more than 200 successful applications and recovered tens of millions of dollars for developers, non-profits, and businesses of all sizes.

Here, Ocean Alliance received almost $100,000 in tax credits, which are issued by the Department of Revenue (DOR). Cooperstown monetized the credits by selling them to a for-profit company with a Massachusetts tax liability, with the proceeds helping to offset the significant site remediation costs. According to Dr. Iain Kerr, CEO of Ocean Alliance, “The hardest types of funds to raise for a small non-profit are un-restricted funds.  With a site as complex as this we are always struggling to meet new challenges. Cooperstown Environmental were great to work with, they made the complex [Brownfield tax credit process] simple and communicated their needs well. We are grateful beyond measure for their help in navigating this process and generating income that we can put back into the project.”

The Massachusetts Brownfields Tax Credit program is intended to incentivize developers and others to take on the responsibility of properties contaminated by prior uses (Brownfields) and restore them to productive use, benefitting both the economy and the environment.

Have you conducted remediation for contamination that you did not cause? You might be eligible to get money back through Brownfields Tax Credit program and our mission is to help you take advantage of this opportunity. As the acknowledged authority in the Massachusetts Brownfield Tax Credit, we’re your best choice to guide you through the complexities of the program. Please contact us to find out if you are a candidate to get back some of your hard-earned money.

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