Agenda

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County Administrator's Report 9. 3.

BCC Regular Meeting

Technical/Public Service Consent

Meeting Date:	01/23/2020
Issue: 2019 FDEP Voluntary Cleanup Tax Credit Application and Affidavit for County-owned Property Located at 603 West Romana Street
From:	CLARA LONG
Department:	Neighborhood & Human Svcs
CAO Approval:

RECOMMENDATION:

Recommendation Concerning the 2019 Department of Environmental Protection Voluntary Cleanup Tax Credit Application and Affidavit for County-Owned Property at 603 West Romana Street - Clara Long, Interim Neighborhood & Human Services Department Director

That the Board approve and authorize the Chairman or Vice Chairman to sign the 2019 Florida Department of Environmental Protection Voluntary Cleanup Tax Credit Application and Affidavit for County-owned property at 603 West Romana Street.

[Funding Source: In the event of monetary gain, funds will be deposited in Fund 129, CDBG HUD Entitlement]

BACKGROUND:

Environmental Site Cleanup and Remediation at the former Escambia County Mosquito Control facility located at 603 West Romana Street had ongoing expenditures totaling $24,513.86 for the 2019 calendar year. The County is eligible to apply for tax credits through the Florida Department of Environmental Protection (FDEP) Voluntary Cleanup Tax Credit (VCTC) Program. This program allows entities and/or individuals to recover certain expenses incurred in the voluntary execution of site assessment/remediation for hazardous materials in the form of tax credits issued by the Florida Department of Revenue through the FDEP. Escambia County is eligible to receive $12,256.95 in tax credits for 2019. The provided Application and affidavit allows the County to apply for these tax credits.

The VCTC is a State Economic Development Tax Incentive designed to be used against Florida Corporate Tax liabilities. The State allows the tax credits to be transferred to another entity one time during the life of the instrument, i.e., through the sale of the individual instrument or by assigning the credits to another entity within five years of the credit issuance.

BUDGETARY IMPACT:

In the event of monetary gain, funds from the sale of the tax credits will be deposited in Fund 129, CDBG HUD Entitlement, VCTC/Brownfields.

LEGAL CONSIDERATIONS/SIGN-OFF:

N/A

PERSONNEL:

Neighborhood & Human Services Department/Community Redevelopment Agency (NHS/CRA) staff will coordinate all tasks.

POLICY/REQUIREMENT FOR BOARD ACTION:

Board approval is required for submittal of this Application.

IMPLEMENTATION/COORDINATION:

NHS/CRA Staff, in coordination with the FDEP, shall execute and deliver all documents and perform further actions necessary to complete the application.

Attachments
2019 VCTC application