|From:||Lenny Siegel <firstname.lastname@example.org>|
|Date:||13 Oct 2006 06:20:07 -0000|
|Subject:||[CPEO-BIF] Florida brownfields program|
Incentives needed for cleanup, development|
by Teri L. Donaldson Fort Myers News Press (FL) October 12, 2006
Gov. Jeb Bush recently signed legislation overhauling Florida's brownfields program, and in doing so placed Florida first in the nation in the amount of corporate income tax credits available for the redevelopment of brownfields.
Under the new program, developers who incur costs cleaning up a site can recover as much as $1 million in tax credits in the final year of cleanup, with additional perks for redevelopment that results in affordable housing. With housing costs on the rise and land increasingly scarce in metropolitan areas, the new legislation could mean much-needed relief for many communities throughout Florida.
A brownfield is any property that has been abandoned or underused due to possible environmental contamination, in both rural and urban areas. Florida has thousands of such properties, some of which span hundreds of acres. There are four designated brownfield sites in Lee County, including the Dunbar Enterprise Zone Brownfield Area.
For the entire article, see http://www.news-press.com/apps/pbcs.dll/article?AID=/20061012/OPINION/610120360/1075
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