Subject:
Title
Florida Department of Environmental Protection applications for the Brownfield Voluntary Cleanup Tax Credit incentive for four (4) Brownfield sites owned by the County including the former Dansville Central Landfill, former 126th Avenue North Landfill, former Zero Corporation, and former Baypointe Golf Course sites.
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Recommended Action:
Recommended Action
Approval and execution by the County Administrator of the four (4) Applicant Certification Affidavits with the Florida Department of Environmental Protection (FDEP) for a Voluntary Cleanup Tax Credit (VCTC) incentive for the former Dansville Central Landfill, former 126th Avenue North Landfill, former Zero Corporation, and former Baypointe Golf Course, Brownfield sites.
• FDEP provides a Brownfield tax credit incentive for voluntary cleanup of contaminated sites.
• County executed Brownfield Site Rehabilitation Agreements with FDEP exist for the cleanup of each of the four (4) sites.
• Four (4) VCTC applications support $47,271.66 in tax credits based on a total site rehabilitation cost of $94,543.32.
• Tax credits will be sold on the open market. After broker fees, anticipated net revenue from the sales is $42,544.50.
• Revenue from the sale of the tax credits will be recorded in the General Fund and the Community Development Fund.
• Applications are due by January 31, 2025.
2024 Voluntary Cleanup Tax Credit Application for four (4) Brownfield sites; in the amount of $47,271.66; County Administrator to sign Affidavits for each Application.
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Strategic Plan:
Practice Superior Environmental Stewardship
3.3 Protect and improve the quality of our water, air, and other natural resources
Foster Continual Economic Growth and Vitality
4.2 Invest in communities that need it the most
4.3 Catalyze redevelopment through planning and regulatory programs
Deliver First Class Services to the Public and Our Customers
5.2 Be responsible stewards of the public’s resources
Summary:
Summary
Execution and submittal of the VCTC applications will allow the County to take advantage of the VCTC incentive resulting from site rehabilitation activities. The County is currently eligible for a tax credit for 50% of the funding spent on site rehabilitation at four (4) sites during 2024. Submittal of the VCTC certification will allow the County to take advantage of the incentives for site rehabilitation.
The County is currently eligible for a fifty percent (50%) tax credit of eligible site rehabilitation expenses spent in calendar year 2024, upon approval by the FDEP. The four (4) Applications supports a net $47,271.66 tax credit for total site rehabilitation costs incurred of $94,543.32. The corporate tax credits are auctioned on the open market. Corporations who have a Florida Corporate tax liability typically purchase the certificates and the County proceeds are reduced by approximately ten percent (10%) due to broker fees. Sale of these tax credits are anticipated to generate $42,544.50, after broker fees are deducted.
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Background Information:
The County executed Brownfield Site Rehabilitation Agreement with FDEP on December 30th, 2024, for the former Dansville Central Landfill, December 28, 2015, for the former 126th Ave North Landfill, on December 13, 2016, for the former Zero Corporation site, and on August 2nd, 2021, for the former Baypointe Golf Course. This allows the County to apply for tax credits for site rehabilitation activities. The County is applying for site rehabilitation tax credit for total site rehabilitation costs incurred for the four (4) Brownfield sites during the 2024 calendar year.
Fiscal Impact:
If FDEP awards all four VCTC applications, the sale of these tax credits could generate $42,544.50 in revenue for the County.
Revenue is to be recorded in the same fund in which the expenditures for each cleanup occurred. This includes General Fund (0001) and Community Development Fund (1009). The Baypointe Golf Course (Baypointe) cleanup expenditures were funded by the American Rescue Plan Act in ARPA Fund (1045). Revenue cannot be recorded in the ARPA Fund but because the Voluntary Cleanup Tax Credit (VCTC) is not intended to be a reimbursement of expenditures but an economic incentive for the voluntary cleanup, the County may seek and sell the Baypointe VCTC and generated revenue will be recorded in the General Fund (0001).
VCTC revenue was not included in the FY25 Adopted Budget. Revenue may be recognized at a later date through a budget amendment.
Delegated Authority
Authority for the County Administrator to sign this VCTC application is granted under Code Section 2-62(a)(1).
Staff Member Responsible:
Kelli Hammer Levy, Director, Public Works
Partners:
FDEP
Attachments:
Applicant Certification Affidavit Page Dansville Central
Dansville Central Landfill 2024 Voluntary Cleanup Tax Credit Application
Applicant Certification Affidavit Page 126th Ave N
126th Ave North Landfill 2024 Voluntary Cleanup Tax Credit Application
Applicant Certification Affidavit Page Zero Corporation
Zero Corp 2024 Voluntary Cleanup Tax Credit Application
Applicant Certification Affidavit Page Baypointe
Baypointe 2024 Voluntary Cleanup Tax Credit Application
Site Cost List