cherrytree group llc logo

Cherrytree Group LLC Blog

RSS Grab the Cherrytree Group Real Estate Blog feed

Get e-mail notifications of new blog posts! Enter email address below.


Delivered by FeedBurner

 

New Jersey Completes 10,000 Solar Power Installations

Thursday, July 28, 2011

New Jersey set new single-month records for installed solar capacity and number of installations in June, according to the state’s Governor, Chris Christie.

The achievement brings the State’s installed solar capacity to more than 380 MW generated from over 10,000 solar arrays statewide, a new milestone.

“Reaching 10,000 solar installations in New Jersey demonstrates this Administration’s commitment to continue to promote and expand the state’s solar industry and is a critical element of our long-term energy strategy,” said Governor Christie.

“This ground-breaking achievement is the latest example of New Jersey’s leadership as one of the largest and fastest growing solar energy markets in the United States.”

New Jersey is second in the nation in both installed solar capacity and number of installations; only California has more.

New Jersey has 10,086 solar energy array projects installed across the state providing over 380 MW of installed capacity, due in large part to the State’s Solar Renewable Energy Certificate (SREC) Registration Program.

Projects

During June 2011 alone, 520 solar projects totaling over 40 MW of capacity were installed, representing the most projects and the largest amount of solar capacity installed in one month.

 “Solar energy is more than just a form of clean distributed generation. These projects provide an opportunity for the involved business to improve its bottom line and grow in New Jersey, stimulating economic development,” said Lee A. Solomon, President, New Jersey Board of Public Utilities.

Recognizing the critical nexus of environmental and economic benefits, Governor Christie has called for more solar projects on landfills and brownfields as an important element of his draft 2011 Energy Master Plan.

Last year, he signed legislation exempting solar panels from certain land use restrictions, identifying solar energy developments as an environmentally important land use.

Market
New Jersey had one of the strongest growth markets for solar energy installations in 2010 and in the first quarter of 2011.

For the first quarter of 2011, New Jersey installed 42 MW of solar, representing 49 percent growth over first quarter 2010. The state has primarily become a market for non-residential projects over 100 kW and most growth over the past few quarters has been in larger projects over 1MW.

In addition, New Jersey has the nation’s most robust and mature SREC market, along with the best availability for long-term SREC contracts, which make project financing much easier to obtain.

Solar energy—along with clean, in-state power generation from offshore wind, natural gas and nuclear, and new technologies such as alternatively fueled vehicles—is a key component of a greener, more affordable vision for New Jersey’s energy future,” said DEP Commissioner Bob Martin.

“The draft 2011 Energy Master Plan reinforces the Christie Administration’s commitment to promoting solar where it makes both environmental and economic sense, expanding implementation of commercial and industrial solar projects.”

Original article – Solar Energy News

American Capital Energy Awarded Contract by Cape and Vineyard Electric Cooperative

Wednesday, June 29, 2011

American Capital Energy, Inc. (ACE) was awarded a landfill contract to construct $85 million, 18.2 MW of solar generating facilities by Cape and Vineyard Electric Cooperative.

The project will convert town owned property and landfills in six Cape Cod and Martha's Vineyard communities into solar farms which will produce approximately 25% of the energy needs of the participating communities.

Mark Sylvia, commissioner of the Mass. Department of Energy Resources, said, "This is a significant game-changing model."

The project is projected to save participating towns $1.42 million in energy costs in the first year.

Across the USA, every city and town has vacant capped landfills and brownfields which could be converted to solar facilities to produce solar electricity to power the grid, reduce carbon omissions and cut corporate and municipal energy costs. American Capital Energy, a Massachusetts based company and leading solar expert has completed over 35 large scale utility and brownfield projects since its founding in 2005.

Selected from more than 150 submissions ACE was the Engineering Procurement Construction firm that recently completed the Silver Lake Solar Facility for Western Mass. Electric Co.

Silver Lake is the redevelopment of 8 acres of brownfield floodplain land into a renewable energy facility.

The 1.8 MW Silver Lake facility is located in Pittsfield, Mass. accommodates a variety of complex permitting restrictions and is a shining example of what a public-private partnership can accomplish.

Silver Lake is the largest utility scale solar project completed to date in Mass. and consists of 6,500 ground mounted photovoltaic panels covering 8 acres.

As cities and towns across the country struggle with energy consumption and costs the conversion of these polluted open sites, brownfields, will produce not only much needed power but also help communities balance their budgets.

NERJ

EPA Awards Funds to Cleanup and Revitalize Somerville Neighborhood

Friday, June 17, 2011

...by Warren Kirshenbaum

As part of $3.5 million in Brownfields grants that EPA is making available for Massachusetts communities, EPA has provided $600,000 for Somerville to clean up the former Kiley Barrel Property site. The funding is part of more than $76 million in EPA Brownfields investments across the country announced this week by EPA Administrator Lisa Jackson to protect health and the environment, create jobs and promote economic re-development in American communities.

EPA Brownfields grant money assists work to reclaim sites including old textile mills, sites containing hazardous substances and petroleum products and other abandoned industrial and commercial properties.  EPA’s Brownfields program encourages redevelopment of America’s estimated 450,000 abandoned and contaminated waste sites.

 “This EPA funding will help strengthen the economic foundation of these communities,” said Curt Spalding, regional administrator of EPA New England’s office. “Cleaning and revitalizing contaminated sites helps create jobs, providing a solid foundation for a community to create new businesses and neighborhood centers, while making our environment cleaner and the community healthier.”

"These federal funds will help transform the Kiley Barrel site, eliminating old contaminants and revitalizing it so that the land can be used for future development. Brownfields grants have had a tremendous impact here in Somerville and all over the country, giving communities the resources they need to revitalize old industrial sites," stated Congressman Michael Capuano.

The $12.55 million in grant and Revolving Loan Fund money awarded by EPA to a variety of New England communities and organization will provide substantial help around the region.  The EPA funding leverages over $46 million of other money to pursue brownfields cleanup and revitalization work. In New England, these projects have created 98 clean up jobs this year as well as 135 redevelopment jobs.

As of June 2011, EPA’s brownfields assistance has leveraged more than $16.3 billion in cleanup and redevelopment funding, and helped create more than 70,000 jobs in cleanup, construction and redevelopment. These investments and jobs target local, under-served and economically disadvantaged neighborhoods – places where environmental cleanups and new jobs are most needed.

Since the beginning of the Brownfields Program, in New England alone EPA has awarded 268 assessment grants totaling $67.1 million, 61 revolving loan fund grants and supplemental funding totaling $65 million and 174 cleanup grants totaling $39.3 million.  These grant funds have paved the way for more than $1.3 billion in public and private cleanup and redevelopment investment and for 8815 jobs in assessment, cleanup, construction and redevelopment.

Some of the money announced today falls under EPA’s brownfields revolving loan funding.  Since 1995, EPA RLF recipients have provided 53 loans and 63 grants in New England totaling more than $29 million for brownfields cleanup. The loan funds have paved the way for more than $189 million in public and private cleanup and redevelopment investment and for 1034 jobs in cleanup, construction and redevelopment.

Information released by the EPA 

Greater New Haven's Brownfields Sit in Costly Limbo

Tuesday, May 10, 2011

by...Warren Kirshenbaum



On an island where the Mill River flows through New Haven sits English Station, a defunct electric power plant once teeming with contaminants.

The 9-acre plant embodies every municipality’s struggle with sites known as Brownfields, abandoned plots where commercial and industrial businesses once operated, mostly at a time when environmental laws were less stringent. Throughout New Haven County, urban and suburban areas alike are grappling with the costly process of reclaiming these eyesores, cleaning up the environmental and health hazards lurking there and finding new uses for the parcels.

English Station is one of 27 Brownfields on a list that cities and towns in Greater New Haven identified to the Connecticut Brownfields Redevelopment Authority as priority sites for reuse. Many are situated near major routes, highways and existing commercial hubs. Some are more isolated.

“It’s really a positive to be on the list because it attracts developers,” said Cynthia Petruzzello, vice president and redevelopment project manager for CBRA.

English Station was once owned by United Illuminating Co. and burned coal and oil from the 1880s until it was decommissioned in 1992. In 2000, UI paid Killingworth-based Quinnipiac Energy $4.25 million to take the plant off its hands.

Quinnipiac Energy set up a $1.9 million fund for remediation but that money has been spent.

The current owner, Evergreen Power, last summer was in talks to sell the plant to First National Development of Bridgeport. At the time, developer Garfield Spencer said his vision for the property was a mixed-use development with 200 rental units, boat slips and street-level retail space.

Spencer did not return a phone call and email seeking comment for this story and land records in the city clerk’s office show no sale has been made.

CBRA is a division of the Connecticut Development Authority. CDA President Marie O’Brien said CBRA is a starting point for entities interested in brownfield reuse projects and works on them with the state departments of Economic and Community Development, Environmental Protection and Public Health.

New Haven Economic Development Director Kelly Murphy said urban centers typically have numerous brownfield sites. Even a dry cleaning business that closes down would be considered a brownfield because of possible chemical contamination.

“The laws of brownfields have changed even since I started my career,” she said.

Robert Bell, assistant director of the state Department of Environmental Protection’s Remediation Division, said the state has 10 to 15 different laws that address the cleanup of hazardous materials.

“Not all contamination is equal,” Bell said, adding that some material stays where it is, other hazards can travel, especially if they leach into groundwater, but others might cause little to no public health risk.

Original article and a list of the Brownfields sites in the Greater New Haven Area can be found at The Register Citizen
By ANGELA CARTER


Recent Posts


Tags

debt-service LIHTC economic growth commercial buildings distressed asset investing workforce development rehabilitation Chicago private equity' midterm elections low-income neighborhoods film tax credit money, MA ITC, Boston federal energy regulatory commission venture capital Brownfields programs landfill gas facility tax credit syndication Austin Chapter 40B explained marine and hydrokinetic, solar Rhode Island solar facilities REAL program federal government buy commercial real estate, MA state tax credits, MA private sector investment monetize a renewable energy tax credit, Boston new york pops new energy technologies wind incentive RECs solar energy production solar pilot program MGL Ch 21E brownfield redevelopment, CT Fim Tax Credit revenue tax credit broker non-bank resources for capital funding wind farm development federal tax credits brownfields projects, Boston brownfields laws solar energy array projects investing in parking lots Martha's Vineyard BTC, Massachusetts tax incentives declining property values federal investment tax credit thayer morgan interivew business investment traditional funding development of the renewable energy industry trash facility negative environmental effect multi-family housing, MA low income housing tax credits renewable energy tax credits, MA wholesale energy infrastructure investment solar power weak economy money lending how REITs works partial equity participation state historic tax credits tax credit to spur redevelopment brownfields tax credit, MA Historic rehabilitation tax credits, MA community development solar farms real estate lawyer, MA state and federal tax credits, Boston Historic credits private sector investments commercial properties American Recovery and Reinvestment Act of 2009 - Section 1603 portability of tax credits commercial building tax deductions Cape Wind wind energy companies capital line funding economy tax credits Seattle commercial tax credits, Lowell Brownfields Act, economically distressed areas, Massachusetts Brownfields Tax Credits, Massachusetts Contingency Plan, MGL Ch 21E, RAO, remedy operation status, renewable energy, sale of tax credits, tax advantaged development, tax credit syndication, tra renewable engery credit, MA renewable energy program green energy projects preservation of mills BTC's, Boston biodiesel clean energy business solar investment tax credit solar investment tax credit production tax credtis, Boston solar energy large capital projects cleantech cities ITCs fuel cell initiatives developers, Boston, MA investment into business tax advantages oil spill commercial real estate attorney real estate investment, Boston environmental remediation tax credits tax credit programs, New Bedford sydicator of tax credits SRECs commercial leases investing in real estate in MA Transactional Law Group EB-5 Green Card Program informational technology Commercial Real Estate Loan Amortization Periods tax credits to fix up historic buildings state film tax credits, MA state tax credits selling tax credits for cash RI energy efficient tax deductions foreign investors new normal renovation projects invest private equity offerings, ma federal new market tax credits economics of environmental projects distressed asset investment fund historic rehabilitation credits Boston Marathon tax credit programs wind engery tax credit, MA tax credits to help economy Quincy Broad Medows Salt Marsh business renewable energy tax credit, Boston brownfield cleanup program market rate program, MA wind power technology downturn visas for imigrants clean technology renewable energy, MA Louisianna Massachusetts gas station owners private equity massachusetts non-profit converting tax credits to cash wind power, Boston building improvements construction jobs power generation, MA solar energy markets wind tax credit list of brownfields sites solarize Massachusetts financing solar installations distressed asset investment real estate strategy tax credits, RI federal and state tax credits energy production film tax credit incentives real estate capital raising questions, MA movie tax credit brownfields REITS solar ITC new market tax credits wind energy tax credit RECs, MA historic rehabilitation tax credit, Boston commercial tax credits, MA film tax credit cherrytree group llc private equity offerings venture development capital MA wind energy credit Massachusetts Contingency Plan heat and power cleantech capitals energy systems environmental projects largest accidental marine oil spill brownfields redevelopment, MA FERC tax planning strategies more control over financing costs investment tax credit brownfields projects, MA small business loans real estate attorney Historic rehabilitation tax credits credits distressed asset investment fund, ma buy real estate, MA build green engery credit, MA affordable housing biomass facilities the difference between tax credits and tax deductions multi-family apartments boycotting BP gas stations examine tax credits Massachusetts tax credit program wind farm tax credit energy efficiency improvement projects Historic tax credits, RI renewable energy jobs outsourcing Massachusetts film tax credit solar energy credits investment tax credits wind tax credits, Boston commercial geothermal power Massachusetts brownfields tax credits, Boston real estate development LIHTCs free up capital new market historic rehabilitation tax incentives, Boston capital funding wind subsidies citizens housing and planning association credit line funding community development entity investing in commercial real estate Warren Kirshenbaum geothermal offshore wind Fim Tax Credits renewable energy certificates wind production tax credit energy tax credit multitude of renewable resources historic rehabilitation tax credit rehabilitating historic buildings, Boston commercial tax credit attorney Chapter 40B vote results San Jose Brownfields Tax Credits, MA Brownfields Act, MA commercial tax credts, Boston tax credits for environmental clean up, Boston visas for buying homes Broad Medows Salt Marsh methods of renewable energy production financial incentives to develop real estate in MA business loans tax credits on brownsfields tax incentives and credits wind power green energy capitalism depressed and booming markets alternate funding renewable tax credits, Boston renewable energy projects LIHTC tax credits extending Brownfields tax credit, Boston tax credits for gateway cities, New Bedford microturbines private equity offerings monetization of ITC, Boston Massachusetts renewable energy funding Massachusetts Brownfields Tax Credits Quincy, MA Tax Credit Massachusetts Ballot Questions, Question 2 Explained real estate, Boston hydro energy production Brownfields tax credt, MA historic rehabilitation tax credits, Boston investing in commercial real estate, Boston sale of renewable energy credits loaning money to consumers HUD insured mortgages rehabilitation of historic buildings, Boston sources of funding real estate deals tax credt contractors, Boston, MA new market credits recession NIMBY not in my back yard solar energy development restoration projects CHAPA american symphony orchestra tenant representative RAO renewable energy MA deepwater horizon oil spill renewable energy tax credtis, Boston Former Getty owners equity investments Massachusetts brownfields tax credit borrow money EB-5 Regional centers hydro electric power devastating environmental damage federal low income housing tax credit capital renewable energy development commercial real estate in MA brownfields tax credits renewable energy credit tax incentive deals historic remediation, MA energy tax credits monstrous oil spill Historic Preservation Investment Tax Credit residential properties 1603 Treasury Grant residential real estate Brownfields tax credit program, Boston selling tax credits brownfields Credits, MA Housing Development Incentive Program, MA real estate projects cost of producing renewable energy Brownfields program, Boston rehabilitate properties tax credit sydication remedy operation status financing deduction for energy efficient buildings investments in solar energy investing in surface lots commercial tax credit tax credit consultant brownfields tax credit value-added services gas station loss of income commercial tax credits global energy demand rownfields Act hydro power tax breaks historic rehabilitation, Boston sale of a tax credit commercial tax credits, Boston biomass power disaster relief, Boston REIT developing real estate, MA secure capital tax credits speaker series new markets tax credits economic slump engery tax credit, MA green standards community block grants historic tax credits, Boston renewable energy tax credits, Boston alternative funding sources Federal Historic Rehabilitation Tax Credit Commonwealth Solar Rebate Program low-income housing tax credits tax advantaged development power generation, Boston extension of BTC, Boston motion picture tax credits income tax credit solar power initiative non-renewable energy sources historic preservation tax credits, Boston Business Financing federal tax Credit private investments massachusetts BTC program, Boston renewable energy credits renewable resources brownfields tax credits, Boston tax relief tax credits, Boston solar investment tax Housing Development Incentive Program making money with commercial real estate 40B credited with spurring upwards of 80% new development commercial tax credits, Fall River The Transactional Law Group - MA historic rehabilitation Massachusetts BTC, Boston commercial real estate investment permitting procedure laws of Brownfields NMTC Historic credits, RI new markets tax credit program Historic tax credits, MA thayer morgan historic property preservation, Boston Boston preservation of historic buildings ITCs, MA solar power project development american recovery and reinvestment act wind energy tax credit, Boston brownfields redevelopment commercial real estate lawyer hedging transactions renewable energy expensive to produce environmental remediation wind energy credits MA Brownfields tax credt renewable energy tax credit office space developing real estate in MA production tax credit historic preservation tax incentives, Boston Massachusetts Brownfields tax credit, Boston Cape Cod historic preservation tax credit NYC tax credits new market program Summertime Economy in Boston solar initiatives build a wind farm investing in surface parking lots commercial tax credits, New Bedford REITs, Boston what is Brownfields tax credit, Boston asset stripping urban redevelpment tax deductions Historic tax credits brownfields tax credit, Boston expiring tax credits tax credits, MA commercial tax credit program, MA San Francisco new markets renewable energy incentives brownfields tax credit, CT film tax credits, MA rural energy for america program small residential properties capital requirements real estate investments economically distressed areas 1603 Grant destructive oil spill news film credits, MA new markets investments BTC program, Boston polluted sites tax credit, New Bedford renewable energy tax credits Massachusetts brownfields tax credits, MA renewable energy tax break solar system investment tax credtis, Boston investment objectives development in Massachusetts transfer of tax credits capital finance fuel cells historic preservation tax credit, Boston economic development bill, MA Brownfields tax credt new housing developments tax advantages, Boston converting tax credits to cash, MA Brownfields sites commercial energy tax deductions real estate investment trusts investments new market tax credit raising capital, MA distressed asset sales solar installations independent gas station owners QECBs brownfields, CT EB-5 renewable energy grants commercial real estate investments commercial real estate brownfields, MA invest in commercial real estate multi-family construction construction investors in renewable energy monetizing your tax credits Housing Development Incentive Program, Quincy renewable energy credits, MA tax deductions solar power development production tax credit, Boston BP Gas station owners BP oil spill Massachusetts historic rehabilitation tax credit REIT industry Brownfields tax credt program, Boston invest in development projects Kirshenbaum Law, Cherry Tree, LLC, Real Estate, MA distressed assets brownfields tax incentives, Boston EPA brownfields grant money capped landfills market rate housing tax credit, MA New Markets Tax Credit, Boston commercial real estate owners SREC REIT investments The Cherrytree Group equity requirements gasoline market manipulation renewable energy industry banking tax credits for development Brownfields tax credit, Massachusetts brownfields redevelopment, CT real estate lawyer Gulf Coast victimized BTC, Boston renewable energy, Boston community rehabilitation Plymouth, MA real estate investment trusts, Boston Kirshenbaum Real Estate wholesale acquisitions PTC, Boston historic tax credit real estate properties solar energy properties historic building tax credit, New Bedford disaster recovery assisstance, Boston renewable energy facility Massachusetts state tax credits qualified energy conservation bonds film tax credit, Boston foreign investment expensive to produce invest in real estate foreign capital investment tax credits, MA investing in apartments, MA tax credits for wind power, Boston sale of tax credits gasoline price fixing tax credit investments business capital solar renewable energy credits historic and low income housing Massachusetts tax credits obtaining capital cleantech develop renewable energy systems Brownfields sites, MA real estate attorney, ma solar projects community development financial institutions small business solar capacity credit for income producing properties LSPA, Boston PTC real estate business asset tax-excempt bonds private equity, MA investing in apartment projects, MA sustainable technology equity borrowing by small businesses Brownfields tax credt, Boston Brownfields credits finance energy efficient property

Archive

Disclaimer

This Blog is made available by the lawyer publisher for educational purposes only as well as to give you general information and a general understanding of the law, not to provide specific legal advice. By using this blog site you understand that there is no attorney client relationship between you and the Blog publisher. The Blog should not be used as a substitute for competent legal advice from a licensed professional attorney in your state.