The Massachusetts Brownfields Tax Credit program is a proven, successful program that helps to offset environmental response costs for eligible projects. The program may be the best of its kind among the many states that offer a similar reimbursement plan, as it is a “by right” credit. If the project meets all of the qualification criteria, the credit is awarded. There is no annual cap statewide and no per project cap. Nor does the project need to be pre-qualified or certified by the state. In addition, the credit is transferable, so it may be sold, producing cash for the applicant.
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Learn how Brownfields incentives can help redevelopment in Massachusetts at sites such as the Merrimac Paper property in this recent column by Jim Curtis, President of Cooperstown Environmental, LLC, published in the Eagle Tribune. (Photo credit: Mary Schwalm/The Eagle-Tribune)
Those who follow the Massachusetts Brownfields Tax Credit program know that 2013 was a year that began with many challenges – and the program not only survived, but the year even ended on a positive note. The program continues to be one of the state’s best incentives for economic redevelopment and environmental cleanups, especially in economically distressed areas (EDAs) where both are needed most. Before describing the latest news, it may be helpful to summarize the program, its history, and how it works. My sense is that most LSPs have an awareness of the program, and many are familiar with
Cooperstown Environmental is pleased to announce that Ariel Newman has joined the company as Project Scientist. Ariel graduated from Tufts University with a Master of Science in Civil and Environmental Engineering. She previously earned a Bachelor of Science in Environmental Science from the University of Connecticut. Ariel previously worked as an analyst for the Massachusetts Department of Revenue’s Underground Storage Tank Petroleum Product Cleanup Fund (“21J”) evaluating reimbursement submissions for technical and financial compliance with the program’s regulations. Following her undergraduate degree, she had worked for a private environmental consulting firm in Connecticut, assisting with hazardous waste and environmental remediation
The rules governing the Brownfields Tax Credit program are closer to being finalized, with the release Monday by the Massachusetts Department of Revenue (DOR) of a revised Policy Directive that is somewhat clarified but little-changed on the core issues. The long-awaited revision, still in draft, has been updated since the original version was issued in April 2013. The April version was met with extensive comment to the significant changes it proposed to how the state would process applications for the credit. Most notably, the state intended to apply the changes retroactively to pending applications filed up to nearly a year prior
Cooperstown Environmental LLC is once again the top consulting firm in Massachusetts Brownfields Tax Credit awards in 2012, according to statistics released today by the Massachusetts Department of Revenue (DOR). For the second consecutive year, more than half of all tax credit recipients statewide were clients of Cooperstown Environmental LLC, according to the state’s Tax Credit Transparency Report. The report, which is issued annually in response to a 2010 law requiring disclosure, lists recipients for all of the state’s thirteen tax credit programs. Private data extending back to 2006, when changes were made to require an application in order to
Developers, not-for-profits, commercial property owners, and others conducting environmental remediation projects can rely on the state’s Brownfields tax credit – finally. The budget signed by the Governor Friday extends the credit for five years, quelling worries that the credit would expire at the end of this year. The program, which incentivizes commercial redevelopment in economically distressed areas (EDAs) by providing a rebate on environmental cleanups to Eligible Persons (who did not cause the contamination), has been a resounding success since it was initially passed in 1998. Hundreds of properties have been cleaned up to Department of Environmental Protection (DEP) standards,
A proposal by the Massachusetts Department of Revenue (DOR) to modify its successful Brownfields Tax Credit program, and apply the changes to applications submitted as far back as a year ago, has similarities to a recent court ruling in New York. DOR in April proposed new rules affecting applicants for Massachusetts Brownfields Tax Credits. These credits allow eligible parties who remediate a Brownfield site in an economically distressed area (EDA) to recoup a portion of their cleanup costs via a tax credit if the project meets certain requirements. The proposed changes to the program tighten eligibility requirements with the goal
Cooperstown Environmental LLC announced that it has completed the installation of a rooftop solar photovoltaic (PV) installation in Quincy, Massachusetts. With a placed in service date of November 15th, 2012, the system is producing clean, renewable energy – a projected 135,000 kilowatt-hours (kWh) per year. Fallon Ambulance is the host and will purchase electricity for its own use under a Power Purchase Agreement (PPA) with HOF Solar LLC, the system owner. Fallon will save a significant percentage of its annual energy costs under the deal as well as taking responsibility for approximately one-quarter of its annual electric load. Cooperstown Environmental
Before the sun rose on the morning of August 25, eighty-one stand-up paddleboarders launched from the shores of Plymouth’s Long Beach to begin the fifth-annual Cape Cod Bay Challenge. More than twelve hours later, the group landed at Wellfleet’s Mayo Beach after paddling over 34 miles through fog, wind, and choppy surf. Among the crowd was one of Cooperstown Environmental’s own, Senior Vice President Richard Gang, an avid surfer and stand-up paddleboarder (pictured, right). “This year was definitely the hardest yet,” said Mr. Gang, who has completed a total of three Challenges, “and remembering who we were paddling for kept