New York State Brownfield Cleanup Program (BCP)
Access the Brownfield Cleanup Program (BCP) application for the Riverview Innovation and Technology Campus and other relevant documents online through the DECinfo Locator.
Site information can be viewed by entering Site ID #C915353 in the DEC Environmental Site Remediation Database Search
Additional information on the State's Brownfield program is available at NYSDEC's website: https://www.dec.ny.gov/chemical/8450.html
NYSDEC Update on Tonawanda Coke Site Cleanup and Redevelopment, January 24, 2020
New York State Department of Environmental Conservation Division of Environmental Remediation Director Mike Ryan discussing the Riverview Innovation & Technology Campus, Inc. application for entry into the state’s Brownfield Cleanup Program for the proposed redevelopment of the Tonawanda Coke site.Documents also are available at the Buffalo and Erie County Public Libraries in Kenton and downtown Buffalo.
How Does the BCP Tax Credit Work?
Unlike grants, there is no appropriation fund backing up the BCP tax credits.
The credit is “refundable,” meaning that a taxpayer to whom credit is allowed must first use the credit on a dollar-for-dollar basis against their tax liability (to zero, for individuals, or to the statutory minimum tax, for corporate taxpayers)
Any excess amount of the credit is treated by law as an overpayment of tax for the year in which the credit is allowable, and to be refunded to the taxpayer (without interest).
The BCP tax credit is claimed by filing a New York State income (or franchise) tax return.
Non-resident taxpayers may claim the BCP tax credit by filing New York non-resident tax returns.
BCP tax credit claims are processed by the New York State Department of Taxation and Finance in connection with each eligible taxpayer’s return. BCP tax credits are paid at the State level and do not impact in any way the local tax base.
2014 Report
A 2014 Report by NYU Shack Institute of Real Estate, in collaboration with the NYC Brownfield Partnership, discusses the economic return of the tax credits under the BCP. The Report pegs the return as 7 to 1 for every state dollar in credits. As of 2014, the State had provided $1.14 billion and the projects represented $7 billion in total investment costs.