EVOLVE Business and Professional Magazine November 2017 | Page 29

Approximately 12,990 confirmed new jobs and more
than $2.7 billion in capital investment is projected to
occur in designated Brownfield Areas in Florida.
In addition, the Brownfield Redevelopment Bonus Refund
provides a tax credit of up to $2,500 per qualifying, new job
created within a Brownfield Area, which is applicable to sales, ad
valorem, corporate income, insurance premium, and other taxes.
The program also provides a sales tax credit on the purchase
of building materials used in the construction of qualified
redevelopment projects and state loan guarantees may also
be available.
Brownfield Redevelopment Results
According to FDEP’s 2016-2017 Brownfields Annual Report,
local governments in Florida have designated 427 Brownfield
Areas, parties have entered into more than 295 BSRAs with
FDEP, and 101 Brownfield Sites have reached regulatory
closure. Significant job creation and economic investment is
attributable to the Brownfields Program, as approximately
12,990 confirmed new jobs and more than $2.7 billion in capital
investment is projected to occur in designated
Brownfield Areas in Florida. With more
than 20 Brownfield projects completed or
underway in Volusia County we are active
participants in this key Florida Department of
Environmental Protection strategy. Jack White
of White Challis Redevelopment says "From
my perspective as a developer, the brownfield
process was fairly fluid. It was there, we
utilized it and there were no hang ups along
the way, which is great, because when you're
working with development projects, there
is always something. The state's brownfield
program was a great partner to work with."
With the right approach and a partnership
strategy, developing brownfields is one
Parties that execute a BSRA also receive protection for further
strategy to make our community green.
liability from cleanup and property damage lawsuits filed by
the state and third-parties. If the Brownfield Site receives a
no further action letter, then the liability protection continues
forever. Liability protection is also available for lenders and
successors and assigns of the parties that sign the BSRA, which
makes it easier to finance and sell properties with a history of
environmental issues. Finally, FDEP staff provides expedited
technical review and specific regulations for the cleanup, which
Michael Sznapstajler is a partner with the law firm
of Cobb Cole. Michael serves as the Past President
of the Florida Brownfields Association, which
is a volunteer, non-profit service organization
dedicated to advancing the cleanup and
redevelopment of Brownfields in Florida. Michael
can be reached at Michael.Sznapstajler@cobbcole.
com or by calling 386-323-9222.
allows for certainty and a faster regulatory process.
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