Massachusetts Brownfields Tax Credit Project Planning

July 1, 2019

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GeoInsight's Presentation to the Environmental Business Council: Effective Project Planning for the Brownfields Tax Credit

GeoInsight's senior geologist, Kevin D. Trainer, recently provided a presentation alongside Thomas G. Fiore, counsel to the firm of Urbelis & Fieldsteel, LLP, to the Environmental Business Council (EBC) New England, Inc., concerning effective project strategy and planning for the Brownfields Credit in Massachusetts. 

Established in 1998 by the Brownfield Act (Act Relative to Environmental Cleanup and Promoting the Redevelopment of Contaminated Property), the Brownfields Credit is an incentive to encourage Massachusetts developers to both redevelop Brownfields sites and undertake extensive cleanups in the course of development. Over $240 million in Brownfields Credits were issued between 2011 and 2017, making it a viable program to financially motivate developers to successfully redevelop former commercial and industrial properties.  

With nearly six decades of combined experience dealing with environmental projects, ranging from the development of environmentally-impacted properties to regulatory compliance, both Trainer and Fiore brought a wealth of expertise to be shared with those in attendance. Their EBC Site Remediation and Redevelopment Program presentation, where attendees received Continuing Education Certificates (2.0 training contact hours), provided an overview of Brownfields Credit eligibility, business/technical considerations for applicants, and potential factors that could limit the allowed credit.

Here are just a few takeaways from the Brownfields Tax Credit Presentation:

 

  1. Planning for Brownfields Credit should begin at the earliest stages of the project. 

  2. Costs eligible for Brownfields Credit are established in the documents prepared by a License State Professional (LSP), which include:

    1. Assessment, removal or containment conducted under the Massachusetts Contingency Plan (MCP);
 

    2. Geotechnical or environmental testing in support of MCP activities; and

    3. UST closure or removal.
 However, redevelopment costs not eligible for the Brownfields Credit include UST replacement, relining, and retrofitting to federal, state, and local fees.

  3. Project records should be documented Brownfields Credit Application in mind, and environmental reports should accurately reflect the nature and extent of response and removal activities, all of which should be compliant with MCP and DEP guidelines.

 


Download the full presentation here:

  DOWNLOAD PRESENTATION


Questions concerning project planning for the Brownfields Tax Credit? 

 

  CONTACT KEVIN

Kevin D. Trainer, C.P.G., P.G., L.S.P.
Senior Associate/Senior Geologist
KDTrainer@geoinc.com