2011 Brownfield Redevelopment Reports Posted


Developers of brownfield sites are required to file an annual report with the New York State Department of Taxation and Finance ("DTF") pursuant to Tax Law § 171-s. The report must include the amounts of state and local taxes generated by the activities of the businesses and employees operating on the brownfield site. If the actual amounts are unavailable, a developer may provide estimates.

DTF created Form DTF-70, "Brownfield Redevelopment Report", to satisfy this reporting obligation. Taxpayers may, however, submit the required information in a different format if they so choose. 
The DTF-70 provides that developers are generally defined as taxpayers who have executed a Brownfield Cleanup Agreement ("BCA") with the New York State Department of Environmental Conservation and have been issued or are expected to be issued a Certificate of Completion ("COC"), or taxpayers that have purchased or acquired a qualified site for which a COC has been issued from an unrelated party.

The DTF requires a developer to submit one consolidated report. This requires the developer to compile the required information from any lessees and other developers and combine the information with its report for the qualified site. In cases where there are multiple developers on the same site, the report must be completed by only one of the developers, but it must contain information for all activity on the site by all developers and lessees.

The report is first due within one year after the execution of the BCA and for 11 years thereafter. The annual reporting period covers all activity occurring on the site from December 1 through November 30 of the following year. The report is due by December 31 of each year. A developer may request an alternate reporting period.

The 2011 Reports can be found on the DTF website
here:


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