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

Pinellas County, Florida is seeking brokerage services for the sale of eleven Voluntary Cleanup Tax Credit (VCTC) Certificates through a competitive solicitation numbered 26-0037-ITB-R. The procurement aims to maximize the county's return on investment by facilitating the sale of tax credits obtained from environmental remediation projects at sites including Zero Corporation, Baypointe, 126th Ave Landfill, and Dansville Central. The selected broker will be responsible for marketing or directly selling the tax credit certificates, which have face values ranging from $2,035.25 to $69,896.87 and totaling approximately $314,940.50. The brokerage services include drafting necessary legal documents, preparing transfer documents for the State of Florida, and managing funds transfer. Key deliverables include securing clients to purchase the tax credits or directly purchasing them, with the county seeking a net price bid in cents per dollar of tax credit sold. The solicitation was released on October 15, 2025, with questions due by October 22, 2025, and proposals due by November 4, 2025, at 3:00 pm. The contract period will be 180 days from the award date, with the award going to the firm providing the best combined net amount to Pinellas County.

The solicitation does not explicitly mention specific set-aside designations or restrictions for disadvantaged enterprises. The tax credits are transferable under Section 220.1845 of Florida Statutes and can be used to offset corporate income tax. An example agency agreement with Clocktower Tax Credits, LLC suggests that brokers will receive compensation through proceeds exceeding $0.821 per dollar of tax credits sold. The county has previously worked with Clocktower Tax Credits, LLC on similar transactions, indicating potential precedent for brokerage relationships. The tax credit certificates were issued by the Florida Department of Environmental Protection (FDEP) and range in value from $2,035.25 to $69,896.87, with a total face value of approximately $314,940.50. Each certificate is associated with specific brownfield site remediation efforts and can be transferred with strict documentation requirements. The county retains the right to accept or reject any investment proposal without financial obligation, emphasizing a competitive and flexible approach to monetizing these environmental cleanup tax credits.