AGENDA REPORT
DATE: June 22, 2026
TO: Community Redevelopment Agency of the City of Plant City
FROM: Bill McDaniel, Executive Director
SUBJECT: Brownfield Voluntary Cleanup Tax Credits Certificate Sale
EXECUTIVE SUMMARY:
Section 376.30781, Florida Statutes, provides for tax credits in the amount of 50 percent of the costs of voluntary cleanup activity for rehabilitation of Brownfield sites in designated brownfield areas. The City submits eligible annual costs to the Florida Department of Environmental Protection (FDEP). FDEP issues a Voluntary Cleanup Tax Credit (VCTC) certificate which expires five years from the date of issuance and can only be used to offset Florida corporate income tax.
Local governments with no Florida corporate income tax liability can sell or transfer their VCTC certificates to an entity that has Florida corporate income tax liability. As the CRA does not pay corporate income tax, the tax credits have no value to the City unless transferred to another entity within the five-year period. The transferee can be any entity that the CRA chooses, but they must have the requisite income tax liability because the tax credits cannot be transferred a second time. FDEP will issue the transferee a new certificate with the date of transfer and they will have up to an additional five years from that date to use the certificate. The CRA uses a broker to find appropriate transferees for the VCTC certificates.
VCTC certificates are issued by FDEP in July of each year. The City advertised our certificates for brokerage services at this time as the earliest certificates were issued on April 4, 2025 and are due to expire April 2030.
Year Issued
VCTC Application #
Certificate #
Project
Amount
2025-2026
2119
2242
Former Freddy's Automotive
$ 3,064.13
2025-2026
2117
2241
Former Carlos Brake & Radiator
$ 3,945.88
2024-2025
1947
2062
Former Stock Building Supply & Lumber Yard
$ 35,470...
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