Cherrytree Group applauds Brownfields tax credit extension

NEWTON, Mass. - July 22, 2013 - PRLog -- Cherrytree Group (www.cherrytree-group.com), a diversified real estate services company headquartered in Newton, MA, commended Governor Patrick’s decision to extend the sunset date of the Massachusetts Brownfields Tax (BTC), saying that the credit will benefit the real estate market here in Massachusetts as well as aid in the overall economic recovery.

The Governor’s $33.6 billion Fiscal Year 2014 (FY14) budget, signed on July 12, includes a provision extending the sunset date of the Massachusetts Brownfields Tax Credit (BTC) from its original expiration date of August 2013 to August 2018.  The BTC is a government program that aids in the redevelopment of contaminated land in economically distressed areas.

Warren A. Kirshenbaum, CEO of Cherrytree Group, said, “The Massachusetts BTC program is essential for the redevelopment of contaminated land in Massachusetts.” He added, “We have been working hard to obtain this program extension.  Our team of lawyers and tax credit professionals has been worked closely with the Massachusetts Department of Revenue, government consultants, and other industry professionals for several months, navigating the legislation and working towards an extension.  We are very pleased that tax credit program this will continue.”

Anyone interested in learning more of the details of the Massachusetts BTC program, please contact the Cherrytree Group at (617) 431-2266 or email info@cherrytree-group.com.

About Cherrytree Group
The Cherrytree Group is a tax credit consultant, broker, and syndicator that has grown into an arbitrage and financial services company with direct investment capability. The Cherrytree Group has extensive experience in dealing with all aspects of the Massachusetts Brownfields Tax Credit, Historical Rehabilitation, and Solar Renewable Energy Credits, and is a recognized expert in these fields.

Cherrytree Group maintains offices at 233 Needham Street, Newton, MA. For additional information, visit www.cherrytree-group.com or call (617) 431-2266.