We are in an era in which more and more sites being considered by developers will be Brownfields sites, and in order to continue to foster economic growth, the creation of jobs, increase tax revenue by stimulating the production of housing, commercial, and retail spaces for our workforce and citizens, government has a decided interest in ensuring that Brownfields sites be remediated, and the BTC is an effective tool to achieve that goal. The Brownfields Tax Credit ("BTC"), which may be fashioned to operate as an instrument of reimbursement for remediation expenses is no different from other tax credits, but practically speaking, it is a "certificated" credit which makes transfer more efficient, the risk of recapture is low, and there are no ongoing compliance and accounting requirements, all of which are elements that are prevalent in, and serve to complicate, other types of tax credits.
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