Subject:
Title
Two applications with the Florida Department of Environmental Protection for the Brownfield Voluntary Cleanup Tax Credit incentive for the 126th Ave Landfill and the Former Zero Corporation Brownfield Site
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Recommended Action:
Recommended Action
Approval and execution by the County Administrator of the Florida Department of Environmental Protection (FDEP) applications for the Brownfield Voluntary Cleanup Tax Credit (VCTC) incentive for the 126th Avenue Landfill (Landfill) and the Former Zero Corporation Brownfield Site (Zero).
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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
Deliver First Class Services to the Public and Our Customers
5.1 Maximize partner relationships and public outreach
5.2 Be responsible stewards of the public’s resources
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 Landfill and Zero sites during 2016.
Background/Explanation:
The County executed a Brownfield Site Rehabilitation Agreement (BSRA) with FDEP for the Landfill site on December 28, 2015, which allows the County to apply for Brownfield tax credits to recoup some of the costs spent on site rehabilitation activities during 2016. The County is applying for $13,587.00 in tax credits for the Landfill site.
The County also executed a BSRA on December 13, 2016 for the Zero site which allows the County to apply for tax credits for site rehabilitation activities at the site. The County is applying for $57,147.50 in tax credits for the Zero site.
Fiscal Impact:
Revenue of approximately 85% ($60,123.90) of the face value of the corporate tax credits. The corporate tax credits are auctioned on the open market. Corporations who have a Florida corporate tax liability typically purchase the certificates for approximately 85% of the face value.
Delegated Authority:
Authority for the County Administrator to sign these VCTC applications is granted under Code Section 2-62(a)(1).
Staff Member Responsible:
Andrew W. Pupke, Director, Real Estate Management
Partners:
Florida Department of Environmental Protection
Attachments:
126th Avenue Landfill VCTC Application
126th Avenue Landfill BSRA
Location map, 126th Avenue Landfill
Zero Site VCTC Application
Zero Site BSRA
Location Map, Zero Site