[CPEO-BIF] "Florida Brownfields Association Announces Coalition Partners to Eliminate or Reduce $10M VCTC Backlog"

[Lenny Siegel <lsiegel@cpeo.org>]

PRESS RELEASE
Florida Brownfields Association
March 6, 2014


Florida Brownfields Association Announces Coalition Partners to  
Eliminate or Reduce $10M VCTC Backlog

 The Florida Brownfields Association ("FBA") announces that several  
statewide associations have joined in the FBA’s coalition and call in  
the 2014 session to reduce or eliminate the current state Voluntary  
Cleanup Tax Credit ("VCTC") backlog on a one-time basis.  Joining the  
FBA’s coalition are the Florida Redevelopment Association, the  
Florida Community Development Association, and the Florida Ground  
Water Association, representing a diverse group of environmental and  
community development stakeholders.

The VCTC backlog currently stands at more than $10 million and is  
expected to grow after a record number of VCTC applications were  
submitted for the 2013 cycle, seeking almost $8 million in tax  
credits.  The VCTC program -- one of the State of Florida’s primary  
incentives designed to encourage the voluntary cleanup and  
redevelopment of Brownfields and drycleaner sites -- has an annual  
state funding limit of $5 million.  This translates to an  
approximately 2-3 year wait for tax credits to be issued.

...

For the entire release, see
http://www.floridabrownfields.org/associations/11916/files/FBA%20Press 
%20Release%20VCTC.pdf

--

Lenny Siegel
Executive Director, Center for Public Environmental Oversight
a project of the Pacific Studies Center
278-A Hope St., Mountain View, CA 94041
Voice: 650/961-8918 or 650/969-1545
Fax: 650/961-8918
<lsiegel@cpeo.org>
http://www.cpeo.org

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