Subject:
Title
Agreement and certificate transfer request with Ozark Services, Inc. for the purchase of voluntary cleanup tax credits.
label
Recommended Action:
Recommended Action
Approval of the agreement and certificate transfer request with Ozark Services, Inc. for the purchase of voluntary cleanup tax credits (VCTCs).
• This agreement memorializes the purchase of the VCTCs by the investor (Ozark), identified through our contracted broker (Cherrytree), and the certificate transfer request allows the state to release the tax credits from Pinellas to the investor.
• Brokerage services for the sale of the VCTCs was awarded to Cherrytree Group, LLC (Cherrytree) in the amount of $332,058.95 on February 17, 2026, by the Board of County Commissioners (BCC). Cherrytree subsequently secured the investor, Ozark Services, Inc.
• This agreement has no fiscal impact as the broker agreement in the amount of $332,058.95 was previously approved by the BCC.
Contract No. 26-0037-ITB-R in the revenue total of $332,058.95, approved by the BCC on February 17, 2026. This agreement and certificate transfer request has no fiscal impact; Authorize the Chairman to sign and the Clerk of the Circuit Court to attest.
Body
Strategic Priorities:
Resilient Infrastructure and Environment
1.4 Improve environmental quality.
Summary:
Summary
Pinellas County’s VCTCs broker, Cherrytree Group, LLC, has identified the investor, Ozark Services, Inc., as the buyer of the VCTCs. The agreement memorializes the purchase of VCTCs, and the certificate transfer request will be sent to the state to request the release of the certificates to the investor.Body
Background Information:
On February 17, 2026, the Board of County Commissioners awarded Cherrytree Group, LLC as the highest bidder for brokerage services with purpose of identifying and securing an investor to purchase the VCTCs.
The State of Florida VCTC program serves as the primary state financial incentive to encourage the voluntary cleanup and redevelopment of Brownfield sites and plays a key role in driving investment in Brownfield areas. Tax credits are issued by the state following application and successful completion.
Fiscal Impact:
This purchase agreement and certificate transfer request have no fiscal impact on Pinellas County.
Staff Member Responsible:
Kelli Hammer Levy, Director, Public Works
Merry Celeste, Purchasing Division Director, Office of Management and Budget
Chris Rose, Director, Office of Management and Budget
Partners:
N/A
Attachments:
Agreement
VCTC Certificate Transfer Request