Re: [CPEO-BIF] Downtown Cazenovia, New York

[LSchnapf@aol.com]

In a message dated 3/3/2010 1:10:05 A.M. Eastern Standard Time, lennysiegel@gmail.com writes:

http://www.syracuse.com/news/index.ssf/2010/03/cazenovia_developer_could_appl.html

This is consistent with the NY BCP. A brownfield can be remediated and then a developer has up to ten years to put the property "into service". There are firms that will buy contaminated sites cheaply, get them accepted into the BCP, perform the cleanup, get a tax credit for the site prep costs and then sell the site at a profit to a developer who can then claim a tangible property tax credit for the vertical buildout.

 

Larry

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