Ohio EPA has established its own voluntary cleanup program for addressing hazardous substances and obtaining a legal release from liability- the Voluntary Action Program (VAP). The VAP program has been on the books since 1995.
When the VAP was created its purpose was to allow the private sector to address historical contamination at industrial or
Are you performing a Voluntary Action Program Clean Up?
Are you cleaning up contamination for a release from a petroleum underground storage tank (BUSTR)?
If you answered yes to either of these questions you may qualify for a significant federal tax incentive which allows you to deduct the clean up costs incurred this year as well as years past. Under the tax incentive, certain
The Ohio Department of Development working with the Ohio Water Development Authority (OWDA) has released their policies for use of the revamped low interest brownfield loan program. Under the program, private companies (among others) can get a low interest loan up to $500,000 for performing sampling (assessment) and up to $5 million for clean up.
As discussed
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Whether you are redeveloping a former manufacturing site or you operate a business on a contaminated site, the liability risks associated with releases of hazardous substances are significant. With the unknowns and surprises associated with environmental clean up the future of your business could be at risk without proper protections. There are a range of
Any business spending money on an environmental investigation or on clean up at property they own examine closely a federal tax incentive which is set to expire December 31, 2009. The incentive allows environmental clean up costs to be fully deductible in the year they are incurred, rather than having to be capitalized and spread over a