News: Financial Digest
Posted: April 8, 2009
Station Place and Myrtle Sq. sell 2008 Mass. BTCs
According to Warren Kirshenbaum, of Orsi Arone Rothenberg iannuzzi & Turner, LLP, his clients, Station Place, LLC and Myrtle Sq., LLC, have successfully sold thier 2008 Mass. Brownfields Tax Credits (BTC) to a Fortune 100 international insurance conglomerate.
BTCs are issued by the Commonwealth of Mass. to developers who have successfully remediated environmentally contaminated sites. The tax credits are issued as a percentage of the developer's costs incurred in the environmental cleanup of the site.
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