[CPEO-BIF] Florida received "record-breaking number of Voluntary Cleanup Tax Credit applications"

[Lenny Siegel <lsiegel@cpeo.org>]

PRESS RELEASE –
FLORIDA BROWNFIELDS ASSOCIATION
FEBRUARY 25, 2015

FDEP receives record-breaking number of VCTC applications 
Highest annual VCTC amount ever requested 
Demonstrates Brownfield program success

The Florida Department of Environmental Protection ("FDEP") received a new record-breaking number of Voluntary Cleanup Tax Credit ("VCTC") applications for the 2014 cycle for voluntary environmental cleanup work performed at Brownfield redevelopment sites and other eligible sites in Florida.

The total application amount for the 2014 calendar year is the highest VCTC annual amount ever received by FDEP, demonstrating both strong participation in the State of Florida's Brownfield and VCTC programs and the challenges posed by the large VCTC backlog. If the applications are approved, the total backlog of VCTCs approved but not yet issued due to current statutory funding levels could reach over $21 million at this time, which translates to an approximate 4-year wait for tax credit issuance.

For the 2014 calendar year, FDEP received a total of 86 VCTC applications, requesting approximately $9.38 million in tax credits, breaking the previous all-time high in annual VCTC application levels. The previous year, FDEP received a total of 80 VCTC applications, approving $7.19 million in tax credits

…

For the entire release, see
http://c.ymcdn.com/sites/www.floridabrownfields.org/resource/resmgr/FBA_Press_Release_2-25-2015.pdf

--

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




_______________________________________________
Brownfields mailing list
Brownfields@lists.cpeo.org
http://lists.cpeo.org/listinfo.cgi/brownfields-cpeo.org