Brownfield Redevelopment Program
"Brownfield" is the name given to a site or area where real or perceived environmental contamination exists in the soil, surface water, or groundwater. These conditions have presented barriers to redevelopment of older commercial, industrial and medical properties throughout the United States.
The City of Lake Alfred is currently working with the Central Florida Regional Planning Council to designate four new Brownfield areas for the commercial properties (see map for general locations). It is anticipated that this designation will be in place by mid-summer 2013.
Businesses that clean up, redevelop and relocate to brownfield sites are provided with financial incentives, regulatory benefits, technical assistance, and liability protection. Listed below are some of the Florida advantages.
- Brownfield Redevelopment Bonus Refund - is a $2,500 tax credit per new full-time job created.
- Attractive business locations with existing infrastructure in place and close to affordable neighborhoods.
- Sales and Use Tax exemptions for building materials used in the construction of a housing project or mixed-use project located in designated brownfield area.
- Voluntary cleanup tax credits - a Florida program that provides tax credit certificates to be applied against Florida corporate income tax.
- Cleanup liability protection - through Florida legislation (F.S. 376.82), persons who implement a successful completion of brownfield site rehabilitation shall be relieved of further liability on the site.
- Low-interest loans for assessment and cleanup are available on the state level. These loans are for private lenders and bonuses are available for projects that include affordable housing projects.
- Expedited permitting for Brownfield projects is available on the municipal level as well as technical document review by the Department of Environmental Protection.
For more information on the proposed Lake Alfred Brownfields program, email the Community Development Department or call them at 863-291-5748.