Project Information

Bid Title

Brokerage Services - Sale of Voluntary Cleanup Tax Credits (VCTC)

Issuing Agency

Pinellas County

Location

Florida

Published Date

Nov 12, 2024

Closing Date

Dec 5, 2024

Government Level

State & Local

Status

Closed

Ref. #

24-1048-ITB-R

Original Source

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Bid Documents

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Project Description

Project ID: 24-1048-ITB-R

Title: Brokerage Services - Sale of Voluntary Cleanup Tax Credits (VCTC)

Addenda: 0

Release Date: 11/12/2024

Due Date: 12/5/2024

Post Information

Posted At:Tue, Nov 12, 2024 3:45 PMSealed Bid Process:Yes (Bids Sealed / Pricing Sealed)Private Bid:No

Overview

Summary

Pinellas County is seeking bids in the form of “Net Pricing” from interested parties for Brokerage Services for the sale of one (1) Voluntary Cleanup Tax Credit Certificate (VCTC) based on the total amount of the certificate face value. A direct sale of the certificate is also possible, to maximize the County's optimum return on investment. The County is seeking a “Net Price” bid based on the face value of the certificate.

Background

The State of Florida VCTC program serves as the primary state financial incentive to encourage the voluntary cleanup and redevelopment of Brownfield sites and plays a key role in driving investment in Brownfield areas. Tax credits are issued by the state following application and successful completion of cleanup activities. The VCTC certificates are used to offset Florida corporate income tax. Local governments can transfer their tax credit certificates to an entity that has a Florida corporate income tax liability. Sale of the tax certificates generates revenue now, which can be used to perpetuate cleanup activities at other County Brownfield sites.

The application for the Brownfield VCTC incentive resulting from completion of environmental responsibilities performed at the Zero Crop site, were approved by the County Administrator and as such certificate number 1412 was issued 7/28/21.

Timeline

Issue Date:

November 12, 2024

Question Submission Deadline:

November 19, 2024, 3:00pm

Proposal Submission Deadline:

December 5, 2024, 3:00pm

Commodity Codes

• NAICS 531210Offices of Real Estate Agents and Brokers
• NAICS 541990All Other Professional, Scientific, and Technical Services

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