Resources and Incentives for Brownfields Redevelopment
The Brownfields Program works to assess, clean up, and facilitate the redevelopment/reuse of potentially contaminated properties known as “brownfields” within the City of Springfield.
Assessment Forms & Documents
Phase I and Phase II Environmental Assessments
Private property owners, non-profits, and governmental agencies can apply to have a Phase I or Phase II environmental assessment conducted through the City’s Brownfields Program. The City currently has funding through two EPA grants for both Hazardous Substance and Petroleum Assessments.
Who to Contact
Applications and forms may be returned by email, postal mail, or fax to:
Olivia Hough, Brownfields Coordinator
Department of Planning and Development
840 Boonville
Springfield, MO 65802
Tel: 417.864.1092
Fax: 417.864.1030
Loan Fund Forms & Documents
Revolving Loan Fund
Provides low-interest loans to private parties for environmental remediation and sub-grants to non-profit organizations. The City of Springfield received a $1 Million grant from EPA to create a Revolving Loan Program to help facilitate environmental cleanup of brownfields. The program is currently under development and is scheduled to be available by early 2008. Interested parties may contact the Economic Development Office 864-1031 for more information.
Who to Contact
Olivia Hough, Brownfields Coordinator
Tel: 417.864.1092
Tax Incentive Forms & Documents
Brownfields Tax Incentive Extended Through 2009
The Emergency Economic Stabilization Act of 2008 (H.R. 1424), signed into law by President Bush Oct. 3, renews for the fifth time a brownfields tax incentive that allows developers to use the "expensing" method for reporting and deducting costs of remedial work at brownfields sites.
Using that method, developers can fully deduct the costs of environmental cleanup in the year the costs were incurred rather than spread the costs over a period of years.
Without the special incentive, brownfields developers would have to use the "capitalizing" method, which delays and potentially decreases the total benefit of the deduction by extending it over several years.
Originally enacted as part of the Taxpayer Relief Act of 1997, the provision was most recently extended in 2006. It expired Dec. 31, 2007.
The incentive enacted as part of the financial rescue bill extends the brownfields tax incentive through Dec. 31, 2009. It applies to expenses incurred in tax years 2008 and 2009.
Tax Incentive Not Widely Used
According to a 2007 Congressional Research Service report, the brownfields tax incentive, contained in Section 198 of the IRS Code, is not widely used. One reason is its "stop and start" nature, that is, its history of expiration and renewal every one or two years, the report said.
Greg Rogers, an attorney who heads Advanced Environmental Dimensions, a Dallas firm specializing in issues related to site remediation, told BNA another reason the incentive is not widely used is simply because accountants are not aware of it.
The IRS introduced a new tax form in 2004 to track use of the brownfields tax incentive. Data for 2004, reported by the IRS in 2007, show that Section 198 environmental remediation costs of $295 million were reported by 110 corporations out of a population of more than 5.5 million corporate tax returns, according to the CRS report (190 DEN A-8, 10/2/07.
The brownfields provision is part of a package of $71 billion in tax incentives and economic stimulus measures in H.R. 1424.
According to a Senate Finance Committee summary of the legislation, the estimated cost of the brownfields provision is $357 million over 10 years, compared to a total net cost for all tax provisions in the new law of about $107 billion over 10 years.
BVCP Documents
- Memorandum of Agreement
- Application - To enroll complete the application and include the $200 fee.
Missouri Brownfields/Voluntary Cleanup Program (BVCP)
The BVCP provides property owners with Missouri Department of Natural Resources oversight of cleanup activities and assures compliance with all State guidelines. Applicants pay for the BVCP's oversight costs, calculated at an hourly rate. Participation in the program is voluntary and applicants may withdraw at any time. When the BVCP is satisfied with the cleanup, the applicant is given either a Certification of Completion or No Further Action Letter. The department's Brownfields/Voluntary Cleanup Memorandum of Agreement with the Environmental Protection Agency states that a No Further Action Letter will be granted to the property owner at completion of the BVCP process.
Who to Contact
Missouri Department of Natural Resources
Brownfields/Voluntary Cleanup Section
PO Box 176
Jefferson City, Missouri 65102
Tel: 573.526.8913
Fax: 573.526.8922
Missouri Environmental Improvement & Energy Resources Authority (EIERA)
The EIERA provides loans and grants to eligible entities including private owners and non-profits for cleanup.
Who to Contact
State Environmental Improvement and Energy Resources Authority (EIERA)
PO Box 744
Jefferson City, MO 65102
Tel: 573.751.4919
Missouri Historic Preservation Tax Credits
Missouri law provides an investment tax credit equal to 25 percent of approved costs associated with qualified rehabilitation of an approved structure. Cost of rehabilitation must exceed 50 percent of the basis. Credits may be sold, transferred or assigned. The state credits are administered by the Community Development Division in the Missouri Department of Economic Development. The State Historic Preservation Office is responsible for reviewing and approving rehabilitation work for the state credits.
City Resources and Financing Incentives
The City of Springfield Brownfields Program is part of the Planning Department Economic Development Office (EDO). Through a team of economic development professionals, the City offers personalized service to guide developers through the brownfields redevelopment process. In addition, the EDO administers a range of other economic development programs that can be applied to brownfields projects in many cases such as:
- Small Business Loan Program
- Enhanced Enterprise Zone Tax Incentives
- Commercial Facade Loan Program
- Springfield Finance Development Corporation
- Real Estate Tax Incentives
- UDA Business Opportunity Package
