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Northeast Florida Brownfields Workshop. Brownfields Redevelopment Incentives. Presentation Overview. Brownfield Redevelopment Act Economic Incentives Other Brownfield Redevelopment Incentives Q&A. Brownfield Redevelopment Act.

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Northeast florida brownfields workshop

Northeast Florida Brownfields Workshop

Brownfields Redevelopment Incentives

Presentation overview
Presentation Overview

  • Brownfield Redevelopment Act

  • Economic Incentives

  • Other Brownfield Redevelopment Incentives

  • Q&A

Brownfield redevelopment act
Brownfield Redevelopment Act

  • In 1997, the Florida Legislature enacted the Brownfields Redevelopment Act, creating a process for the designation of "Brownfield areas" by local governments.

  • Under Florida law, "Brownfield sites" may be designated "Brownfield areas."

  • Key aspects of the Act that encourage redevelopment include, but are not limited to the following:

    • Liability protections;and

    • Economic incentives, such as tax credits and refunds.

  • Sections 376.77-.875, Florida Statutes

Brownfield redevelopment act continued
Brownfield Redevelopment Act Continued

Brownfields Definition:

A brownfield area is defined by statute as “…a contiguous area of one or more brownfield sites, some of which may not be contaminated, and which has been designated by a local government by resolution …”.

A brownfield site is defined by statute as “…real property, the expansion, redevelopment, or reuse of which may be complicated by actual or perceived environmental contamination.”

Sections 288.107 and 376.79.875, Florida Statutes

Florida brownfields program
Florida Brownfields Program

Brownfields Redevelopment Act

The two primary goals of the Brownfields program are site cleanup and economic development.

Florida Department of Environmental Protection

Responsible for site rehabilitation and cleanup

Enterprise Florida (EFI)

Directed to market the Brownfields Redevelopment Program

State brownfields redevelopment incentives
State Brownfields Redevelopment Incentives

  • Financial Incentives

    • Brownfield Redevelopment Bonus (288.107 F.S.)

    • Voluntary Cleanup Tax Credit (376.30781 F.S.)

    • Sales Tax Credit on building materials (212.08 F.S.)

    • Brownfield Loan Guarantee Program (376.86 F.S.)

  • Regulatory Benefits

    • Cleanup Liability Protection (376.82 F.S.)

  • Other Financial and Regulatory Benefits

    • Brownfield Redevelopment Economic Incentives

      (376.84 F.S. & 380.0657 F.S.)

    • Expedited Permitting(403.973 F.S. and 380.0657)

    • Workforce Training – (Workforce Florida)

Brownfield redevelopment bonus
Brownfield Redevelopment Bonus

Performance based

Up to $2,500 in tax refunds per new Florida job created

  • Taxes are refunded only after businesses have met their capital investment, job creation, and wage thresholds

  • Refunds are paid over a minimum four year period to ensure jobs are maintained

    Brownfield Location

  • Brownfield site/area designation

  • Execute a Brownfield Site Rehabilitation Agreement(BSRA) with the Department of Environmental Protection (DEP) or local government delegated by DEP

    Local Input

  • Provides local support (cash, Ad valorem tax abatement, reduce lease rate, etc.)*

  • The municipality may request a waiver of the local financial support match*

    * Only applicable to eligible QTI with Brownfield Bonus

Brownfield redevelopment bonus1
Brownfield Redevelopment Bonus

  • Two Ways To Qualify

    • Be a qualified target industry business under the QTI Program – QTI/Brownfield Bonus

      • Applicable Statutes: 288.106 and 288.107, F.S.

    • “Stand-alone Brownfield” -- Applicable Statute: 288.107, F.S.

Brownfield redevelopment bonus qti program
Brownfield Redevelopment BonusQTI Program

Provides a base QTI tax refund of $3,000 per net new full-time-equivalent Florida job created

  • This QTI refund amount can increase to:

    • $6,000 per job in Enterprise Zone or Rural County;

    • $2,500 per job for locating in a designated Brownfield Area;

    • An additional $1,000 for paying 150% of average wage; or

    • $2,000 per job for paying 200% of average wage.

  • A QTI project located in a designated Brownfield Area and paying 200% average wage is eligible for a refund of $10,500per job award.

Brownfield redevelopment bonus qti program continued
Brownfield Redevelopment Bonus“QTI Program Continued”

  • Must apply to Enterprise Florida prior to making a decision to locate or expand in Florida

    Applicant must:

    • Be in a target industry

      • Must serve multi-state and/or international markets

      • Must be able to locate in other states

      • Must not be a retail establishment

    • Demonstrate that the tax refund will make a material difference in the company’s decision to locate or expand in the community

    • Create at least 10 net new full-time equivalent Florida jobs and, if an expansion project, increase employment by at least 10 percent (whichever is greater)

    • Pay at least 115% of average private sector wage.

Brownfield redevelopment bonus stand alone
Brownfield Redevelopment Bonus“Stand Alone”

Key Qualification Criteria

  • Demonstrate a fixed capital investment of at least $2M

  • Create at least 10 new Florida full-time jobs with benefits

  • Typically for projects that do not meet QTI thresholds

  • Projects are not in the State’s target industry sector (288.106 F.S.)

  • Brownfield redevelopment bonus stand alone1
    Brownfield Redevelopment Bonus“Stand Alone”

    Application should be submitted before the decision has been made to locate in a brownfield

    Discretionary incentive -- not an entitlement

    As an incentive, the Bonus must play a role in the decision of a company to locate or expand in a brownfield area

    Ideally, the need for a Bonus incentive should be established, and the Bonus application approved, before any commitment is made to the project

    Other brownfields redevelopment incentives
    Other Brownfields Redevelopment Incentives

    • Building Materials Sales Tax Refund

      • 20% Low to Moderate Income

      • Encourages Affordable and Workforce Housing

      • FDOR forms DR-26RP, DR-26, Form DR-26S.

      • A copy of the building permit.

      • Certificate from building inspector that improvements are substantially completed.

    • Brownfields Loan Guarantee

      • 50% of Primary Lender’s Loan

      • 75% for Affordable Housing and Health Care Facilities

      • The guarantee does not extend to permanent refinancing or 'take-out' lenders

    Key changes to the brownfields redevelopment bonus program
    Key changes to the Brownfields Redevelopment Bonus Program

    • Brownfield Site Rehabilitation Agreement(BSRA) in place for the Proposed Brownfield site/area or abutting property

  • $2M Vs. $500,000 Capital Investment Requirement

  • Remove the needfor the local support resolution

  • State provides up to $2,500 per new job

  • Contacts