Prospect Iron and Steel Corporation is a family company that was started by the grandfather and granduncle of current vice president Bob Nash more than 92 years ago. After 87 years in Somerville, Prospect Iron and Steel moved their scrap recycling business to Lawrence, Massachusetts in 2014, a move prompted by an eminent domain taking to allow the Massachusetts Bay Transportation Authority (MBTA) Green Line to move into Somerville. Before purchasing the property, the company performed due diligence activities and determined that the property on Medford Street they planned to purchase was contaminated. The company’s environmental professional determined that the
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A: Like it or not, the answer is almost surely “Yes”, the credits are taxable. A recent US Court of Appeals case regarding whether a recipient of New York State Brownfield credits had to pay tax on the credits again shines a light on this issue – in our experience, the question of if your tax credit will be taxed is one of the most common questions we field. In Massachusetts, the Brownfield tax credits became transferable in 2006, and a secondary market has developed where credit recipients can sell excess credits at a discount to face value to generate
As 2019 comes to close, we at Cooperstown Environmental LLC find ourselves reflecting on advances in the Massachusetts environmental industry over the past decade. We wanted to share a few of the major areas of progress with our clients and colleagues. A big thank you to everyone who has contributed to the growth of this industry and to making Massachusetts a cleaner and safer place! Since you are probably all too sick of the end-of-the-decade “Top 10” lists we created a Pick Six of highlights: Vapor Intrusion In December 2010 the Massachusetts Department of Environmental Protection (MassDEP) published the Vapor Intrusion
Thank you to Susan Curtis and James Curtis for hosting a lovely 2019 Cooperstown Environmental holiday party at La Fina in Andover. We had a wonderful evening of food and drink with our wonderful colleagues and clients.
How can one screw up an otherwise eligible Massachusetts Brownfield Tax Credit Application? It looks easy, but it's not! The Massachusetts Brownfield Tax Credit is a well-established incentive program designed to provide financial relief to innocent parties who incur significant costs to clean up contaminated properties for commercial use. A significant amount of information is available about the program online, including the application forms, leading some to conclude that a successful application should be straightforward. Unfortunately, there are actually many traps and dead-ends that can cause hopeful recipients to miss out on recovering eligible costs or, in some unfortunate cases,
Thank you to the LSP Association for putting on a wonderful 2019 LSPA Annual Dinner. We enjoyed a wonderful evening of food, conversation and seeing people we hadn't seen in years. Additionally we are proud be have been able to celebrate Isaac Anderson being presented with (along with Brian Roden of MassDEP) a 2019 LSPA Contribution to the Practice Award. (more…)
Cooperstown Environmental President James T. Curtis, PE, LSP, recently presented at the Environmental Business Council's (EBC) 2019 Brownfields Seminar. The talk, called "Massachusetts Brownfields Tax Credit – What You Don’t Know Can Hurt You", included a brief introduction to the tax credit program. Also discussed were some of the pitfalls that can waylay an otherwise good application. This well attended event included talks from other environmental professionals and state government employees. Slides from the EBC Brownfields Seminar are available online. Cooperstown Environmental is the recognized authority and market leader on the Brownfields Tax Credit program. We have submitted hundreds of
What can be done with excess soil generated during site redevelopment activities which cannot be reused onsite? Determining how to manage this excess soil is a complicated process, even for those who deal with the issue daily. The costs associated with properly managing excess soil can vary greatly depending on the contents of the soil and the paperwork associated with finding and approving a facility to accept the material often takes at least a month. To minimize these costs and avoid unexpected delays, it is best to hire an environmental consulting firm, such as Cooperstown Environmental, prior to breaking ground.
Cooperstown Environmental LLC Supports VietAID’s Housing Development with the Massachusetts Brownfield Tax Credit
The Upper Washington Apartments offers 35 affordable residential units in a mixed use and affordable housing development in the Four Corners neighborhood of Dorchester. These apartments include a mix of one-, two- and three-bedroom apartments as well as 3,200 square feet of commercial/retail space. Buildings include a community room, laundry facilities, and 25 parking spaces. Developed by Boston-based Vietnamese-American Initiative for Development, Inc. (VietAID), the project sits close to the MBTA Commuter Rail Fairmount Line, and brings essential density and definition to the neighborhood. Cooperstown Environmental LLC, an acknowledged authority on the Massachusetts Brownfields Tax Credit program, helped support this
Q: My site isn’t in an area designated as an Economically Distressed Area (EDA) according to the state, but it seems like it should be. Am I out of luck? A: It depends… while there are some areas that are correctly not listed as EDAs, there are a number of instances where the list of EDAs has not been updated in a timely manner. That is, a town or city or an area within a town or city may have been designated an EDA since the list on the Department of Environmental Protection (DEP) web site was last published. Cooperstown