[CPEO-BIF] "Florida's polluted land could provide boon for development"

[Lenny Siegel <lsiegel@cpeo.org>]

Viewpoint: Florida's polluted land could provide boon for development 
	
By Patrick W. Krechowski – GrayRobinson 
Jacksonville Business Journal (FL)
July 23, 2018

But seriously, now; what company in its right mind would spend large amounts of money on developing an expensive new facility on a polluted site?

How about Wal-Mart, Ace Hardware and the cities of Neptune Beach and Cocoa Beach just to name a few? Big employers and local governments throughout Florida are redeveloping and remediating properties which have been classified as polluted brownfields sites.

Some in the Florida real estate community are beginning to understand that there is something to brownfield redevelopment. That “something” is the Florida Brownfields Redevelopment Act, state legislation that provides funds for the mitigation of polluted sites by developers. In the case of some redevelopment projects, that can translate into hundreds of thousands of dollars in tax credits. Yes, mid to high six figures in financial incentives. For local governments that do not pay taxes, the available tax credits can be sold on the open market.  

…

For the entire column, see
https://www.bizjournals.com/jacksonville/news/2018/07/23/viewpoint-floridas-polluted-land-could-provide.html

--

Lenny Siegel
Executive Director
Center for Public Environmental Oversight
a project of the Pacific Studies Center
P.O. Box 998, Mountain View, CA 94042
Voice/Fax: 650/961-8918 
<lsiegel@cpeo.org>
http://www.cpeo.org

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