|From:||Lenny Siegel <firstname.lastname@example.org>|
|Date:||Mon, 7 Feb 2011 23:43:55 -0800 (PST)|
|Subject:||Re: [CPEO-BIF] New York's Brownfields tax credits|
I've been planning to post this, and Peter's question makes it even more
In January New Partners for Community Revitalization (NPCR) published its analysis of New York State's brownfields programs, "Smart Growth Outlook 2011: Challenges and Opportunities in Brownfields, Area-wide Planning & Implementation." It's the best description of New York's brownfields strategies that I've seen.
The report compares the effectiveness of the state's Brownfields Opportunities Areas (BOA) program with its Brownfields Tax Credits. On the one hand, "The municipal governments and community based organizations leading these BOA initiatives are giving hope to residents of some of New York's most distressed neighborhoods." On the other hand, "Despite a commitment of an estimated half billion dollars in refundable state brownfield tax credits, there are fewer cleanups taking place today than before 2003, when the State offered no financial incentives."
But the strength of the report lies in its detailed recommendations for targeting the state's brownfields programs at under-served neighborhoods. It discusses the area-wide approach, program flexibility, inter-agency cooperation, and the role of environmental insurance.
The cornerstone of the NPCR approach is Authentic Community Engagement, which it defines: "Authentic community engagement in the area-wide approach has evolved to mean the ongoing, meaningful participation by neighborhood residents in the decision-making that impacts their neighborhood." It explains, "A community is authentically engaged when it is involved at the outset in setting the scope and process of decision-making."
To download the 54-page report, go to http://www.npcr.net/reports/NPCRJournal_OnLinevF2.pdf Lenny Peter Strauss wrote:
Larry:If you are saying that the tax credits not used for cleanup were targeted at disadvantaged communities, then your statement about recognizing other economic benefits would have greater merit. However, brownfield projects, as far as I can tell, do not have to be in areas that are disadvantaged - such as the ones mentioned in the article in White Plains and outside of Syracuse.It would be interesting to see what the proportion of NY brownfield grants are given disadvantaged areas. Is that information available?Peter Strauss On Feb 7, 2011, at 5:37 PM, Larry Schnapf wrote:There is no doubt that the NY BCP is very generous and probably needs sometweaking. However, the article seems very one-sided to me. First, it does not take into account the economic benefits flowing from these projects, just compared the cleanup costs to the tax credits. Thedevelopers of these projects invested real dollars into New York and createdjobs. These benefits seem to have been completely ignored.Second, these projects were accepted into the program before the tax capswere implemented. It would be interesting to see how the tax caps are working. Larry Lawrence Schnapf Schnapf Law Office 55 East 87th Street #8B New York, New York 10128 212-756-2205 (p) 212-646-8483 (c) Larry@SchnapfLaw.com www.SchnapfLaw.comNamed to Chambers USA 2009-10 Client Guide of America's Leading Lawyers forBusiness. AV Preeminent Rating from Martindale-Hubbell Listed in 2010 New York Super Lawyers-Metro Edition Blog: Visit Schnapf Judgment on the commonground community at http://commonground.edrnet.com/resources/9d51c3f88e/summary Linked-In Blog: Environmental Issues in Business Transactions http://www.linkedin.com/groups?mostPopular=&gid=3607181 -----Original Message----- From: email@example.com [mailto:firstname.lastname@example.org] On Behalf Of Lenny Siegel Sent: Monday, February 07, 2011 8:04 PM To: Brownfields Internet Forum Subject: [CPEO-BIF] New York's Brownfields tax credits State 'fix' losing credit Builders make lucrative use of state tax credits meant for site cleanup By BRIAN NEARING Albany Times-Union (NY) February 7, 2011 ALBANY -- It could take years to fix the state program that, while intended to clean polluted sites, has resulted in hundreds of millions of dollars flowing into a relative handful of costly mega-projects with mini-cleanups. In three years, the Brownfield Cleanup Program cost taxpayers more than $464 million in tax credits, which are cash payments directly from the state treasury, but created only about $340 million in cleanups, according to a Times Union analysis of annual reports by the state Department of Taxation and Finance. Instead, more than 90 percent of the credits rewarded developers for new buildings, according to the analysis, which covers 49 projects that received tax credits from 2007 through 2009. Dozens of other projectsform a backlog that could cost the state eye-popping sums for years to come.... For the entire article, seehttp://www.timesunion.com/local/article/State-fix-losing-credit-1000275.php-- 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 <email@example.com> http://www.cpeo.org _______________________________________________ Brownfields mailing list Brownfields@lists.cpeo.org http://lists.cpeo.org/listinfo.cgi/brownfields-cpeo.org _______________________________________________ Brownfields mailing list Brownfields@lists.cpeo.org http://lists.cpeo.org/listinfo.cgi/brownfields-cpeo.org
-- 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 <firstname.lastname@example.org> http://www.cpeo.org _______________________________________________ Brownfields mailing list Brownfields@lists.cpeo.org http://lists.cpeo.org/listinfo.cgi/brownfields-cpeo.org
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