HomeMy WebLinkAboutExhibit 3Exhibit C
Summary of available Brownsfield Area incentives.
1. EPA Brownfields Assessment and Cleanup Demonstration Grants.
2. EPA Targeted Brownfields Site Assessment Project Grants.
3. Eligibility for CDBG Federal grants and low -interest loans for remediation.
4. Eligibility for Specific federal grants and low -interest loans available through
HUD's Brownfields Economic Development Initiative ("BEDI") and HUD's
Section 108 loan guarantee program.
5. Brownfields Tax Incentive that provides environmental cleanup costs be fully
deductible in the year that they are incurred, rather than having to be capitalized.
6. Florida's Voluntary Cleanup Tax Credit ("VCTC") that provides state income tax
credits in amounts equal to up to thirty-five percent of the costs of voluntary
cleanup activity.
7. The Office of Tourism, Trade, and Economic Development ("OTTED"), offers
eligible businesses Brownfield Redevelopment Bonus Refunds in the form of up
to $2,500 tax refunds "for each new Florida job created in a brownfield area.
8. Florida's Brownfield Property Ownership Clearance Assistance provides low -
interest loans from OTTED are available to assist in the purchase of outstanding,
unresolved contractor liens, tax certificates, or other liens or claims on brownfield
sites.
9. Florida's State Sales Tax Refund for Building Materials Used in Redevelopment
Projects in brownfields areas.
10. The Brownfields Assistance Revolving Loan Fund program, administered by
Miami -Dade County OCED, provides low -interest rate loans for Phase I and
Phase II Environmental Site Assessment activities.
11. South Florida Regional Planning Council's Revolving Loan Fund to assist with
brownfield remediation.
12. Liability protection for the person responsible for brownfields cleanup, lenders,
state agencies or local government from the State of Florida.
13. Application of risk -based based corrective action principles, which allows for
cleanup decisions base on actual risk to the public and the environment.