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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Brownfields Redevelopment Incentives
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
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
(376.84 F.S. & 380.0657 F.S.)
Up to $2,500 in tax refunds per new Florida job created
* Only applicable to eligible QTI with Brownfield Bonus
Provides a base QTI tax refund of $3,000 per net new full-time-equivalent Florida job created
Key Qualification Criteria
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