Certificate of Completion (COC)
NYSDEC issues a Certificate of Completion at completion of a BCP project upon determining that remedial action objectives defined in the Decision Document have been achieved. NYSDEC describes that a COC provides a limitation of liability to the state for identified contamination and makes the applicant eligible to apply for BCP tax credits, with additional restrictions such as environmental easements for non-unrestricted future use.
- Where it applies
- New York State
- When it comes up
- Remediation completion; redevelopment readiness
- Property types
- Brownfield redevelopment
In practice
In transaction operations, the COC is often treated as a binary "risk step-down" event, but operators should also model ongoing obligations for restricted-use sites.
Read more in the Knowledge Base
- Certificate of Occupancy Compliance and Illegal Conversion Risk in New York Residential PropertyBuyers
Related terms
Environmental and Due Diligence
- Action (SEQRA)
- All Appropriate Inquiries (AAI)
- Brownfield
- Brownfield Cleanup Agreement (BCA)
- Brownfield Cleanup Program (BCP)
- City Environmental Quality Review (CEQR)
- Conditioned Negative Declaration (CND)
- Decision Document
- Determination of Significance
- E-Designation
General information, not legal, tax or financial advice.