HomeMy WebLinkAbout2008 02 11 Awards and Presentation 300 Presentation by Seminole County Commissioner Bob DallariDate: February 11, 2008
This was provided to the City Commission by
Seminole County Commissioner Bob Dallari at
the February 11, ZOOS Clty Commission
Regular Meeting during Awards and
Presentations "300".
The US Hwy 17/92 Corridor traverses the heart
of Seminole County and Central Florida. This
important roadway provides ready access
to all major commercial, residential and
employment centers.
Seminole County has designated this corridor
as the SEED district in recognition of its valued
location and assets.
If your property is located in a designated
SEED area, you may be eligible fora:
• $2,500 Job Bonus Refund for each new
job created in a designated SEED area by
an eligible business. These benefits may be
greater if the area has other designations (i.e.,
Enterprise Zone, etc;)
• Sales Tax Credit on building materials
purchased for the construction of a housing
project ormixed-use project in a designated
brownfield area.
In addition, if you enter into a SEED Site
Rehabilitation Agreement (SSRA), you will be
eligible for:
• 50% Voluntary Cleanup Tax Credit (VCTC)
applicable to Florida's corporate income tax;
• 25% Additional VCTC if the property is
redeveloped with affordable housing;
• State Loan Guarantees for primary lenders, up
to 50% on all brownfield sites and up to 75%
if the property is redeveloped as affordable
housing.
Federal benefits that may also be available:
• Site-Specific Activities Grant to DEP to
conduct Phase I or II assessments and/or limited
source removals for eligible recipients using
federal grant funds;
National Brownfields Assessment, Revolving
Loan Fund and Cleanup Grants;
Brownfields Federal Tax Incentive that
allows environmental cleanup costs to be fully
deducted in the same year they occur.
• , • • /
Cleaning up and reinvesting in SEED
properties facilitates job growth, utilizes
existing infrastructure, increases local tax
bases, removes development pressures
on undeveloped open land as well as both
improving and protecting the environment.
Seminole County's SEED Redevelopment
Program:
• Prevents the premature development of
greenspace (farmland, open space and natural
areas);
• Capitalizes on the area's desirable location and
economic strengths;
• Reduces public cost for installing infrastructure
in greenspaces;
• Creates jobs;
• Encourages the highest and best use of blighted
properties;
• Promotes voluntary cleanup;
• Minimizes or eliminates the need for state
cleanup and/or enforcement costs;
• Encourages community revitalization.
SEED redevelopment is of great importance
in Seminole County where balancing strong
economic and community growth while
preventing suburban sprawl is an ongoing
challenge.
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Date: February 11, 2008
This was shown to the City Commission by
Seminole County Commissioner Bob Dallari at
the February 11, 2008 City Commission
Regular Meeting during Awards and
Presentations "300".
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Additional Benefits
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