Office-to-Apartment Conversions – A Good Idea, but Tricky to Pull Off (Audio)
South Carolina Abandoned Building Incentives at Risk of Going Away
Ethics Laws and the Importance of Transparency for Public Officials
Transbay Tower Groundbreaking
On May 20, 2024, South Carolina Governor Henry McMaster signed into law S.1021, a new law that extends and increases tax credits available to taxpayers who rehabilitate or renovate an existing, abandoned building. The new law...more
On November 16, 2023, Congressman Mike Turner (R-OH-10) and Mikie Sherill (D-NJ-11) reintroduced the bipartisan Brownfields Redevelopment Tax Incentive Reauthorization Act (H.R. 6438) (BRTIRA). BRTIRA is designed to provide...more
Today Governor Maura Healy signed legislation extending the eligibility deadlines for the Massachusetts Brownfields tax credits program by five years. The legislation had been included in the budget bill, which had recently...more
What You Need to Know- •The New Jersey Aspire Program has been amended to incentivize developers seeking to close project financing gap costs associated with commercial, mixed use, and residential real estate development...more
When New York Governor Kathy Hochul executed the 2022-2023 State Budget, it included a 10-year extension to the State’s Brownfield Cleanup Program (“BCP” or “Program). The State’s voluntary, incentive-laced, BCP was set to...more
Ohio historic preservation and economic development projects may soon receive a large temporary boost from the Ohio General Assembly. Recently passed by the Ohio Senate and now under consideration in the Ohio House, Ohio...more
Gov. Kathy Hochul released proposed amendments to both the Brownfield Cleanup Program (BCP) and the Brownfield Opportunity Area (BOA) Program this week, in connection with her FY 2023 Executive Budget proposal. The proposal...more
In a bid to rehabilitate the Brownfields Tax Credit ("BTC") application and approval process, the Massachusetts Department of Revenue ("DOR") has issued final regulations (830 CMR 63.38Q.1) and new administrative procedures...more
The Massachusetts Department of Revenue (DOR) issued final regulations effective July 9, 2021 (the Regulations) that are intended to aid in the implementation of the Massachusetts Brownfields Tax Credits program, which was...more
The New Jersey Economic Recovery Act of 2020 (ERA), a seven-year, $14 billion package of incentive programs intended to encourage New Jersey job growth, property development and redevelopment, community partnerships, and...more
Governor Cuomo’s FY 2022 Budget provides relief to participants in the New York State Brownfield Cleanup Program (BCP) that risk losing their Tangible Property Tax Credit due to pandemic-related and other delays....more
On December 21, 2020, the New Jersey Legislature passed the “New Jersey Economic Recovery Act of 2020” (the “Economic Recovery Act” or the "Act"), an omnibus piece of legislation which provides support for various programs...more
Mark Harmon, Nexsen Pruet Government Affairs Advisor, discusses upswings and downswings in the economy and how those downswings often result in the departure or closure of businesses, and subsequently, the abandonment of...more
On March 20, Gov. Lee signed into law SB 2158/HB 2227, which amends the Tennessee statute governing franchise and excise (F&E) tax credits available for brownfield redevelopment. Effective July 1, 2020, the law creates...more
Massachusetts’ top court has given finality to a 2017 ruling by the Massachusetts Appeals Court that nonprofits are eligible for transferrable brownfields tax credits for remediation conducted prior to 2006. By denying...more
While Massachusetts first created a Brownfields tax credit in 1998 to encourage the redevelopment of Brownfields sites, until recently, this very useful tax credit was in danger of becoming history. ...more
Nonprofits are eligible for transferrable Brownfields tax credits for remediation conducted prior to 2006 according to a recent ruling by the Massachusetts Appeals Court. As we previously reported in March 2016, the...more
On October 31, Governor Dannel Malloy signed into law Connecticut’s bipartisan budget bill, which provides for a tax incentive plan to support brownfields remediation and reuse. The new plan, called the 7/7 Brownfields...more
Buried in an 881-page budget bill passed Thursday by the Connecticut General Assembly was a new program to support remediation and reuse of brownfields – properties long contaminated and underutilized – as well as new job...more
Brownfield redevelopment authorities and developers and owners of transformational brownfield redevelopment projects are eligible for substantial tax incentives under legislation signed by Governor Snyder on June 8, 2017. ...more
Proposed Landmark Rules Could Make LA Redevelopment More Difficult - Los Angeles City Council Member Jose Huizar has proposed a new set of rules that could make it more difficult for owners of historic properties in Los...more
Massachusetts Department of Revenue guidance declared a “naked, confiscatory attempt by a state administrative agency to appropriate private property to fill government coffers” by the Massachusetts Superior Court remains on...more
AB 2 Appears to be the Long-Awaited Redevelopment Replacement Law - Since the demise of redevelopment in 2012, and the assurance of a “replacement” by Gov. Jerry Brown, we have been waiting. We saw valiant efforts by...more
Now is the time to begin brownfield redevelopment projects in the State of New York. Reauthorization of and reforms to New York’s Brownfields Cleanup Program, which provides tax credits to redevelop contaminated properties,...more