Approval of W192 Economic Revitalization Program

Published on: Jul 9, 2013

On Monday July 1, 2013 the Osceola County Board of County Commissioners (BOCC) approved a resolution establishing a new economic development incentive program for W192. Capitalizing on the State's effort to address potential Brownfield sites, Osceola County has designated the W192 Development Authority District as an area eligible to receive state revitalization funds. The state program will provide incentives such as a job bonus refunds, sales tax credits on building materials, 50% voluntary cleanup tax credits, 25% additional tax credits for affordable housing, and state loan guarantees (50% on all Brownfields and 75% on affordable housing). In order to receive incentives a Brownfield Site Rehabilitation Agreement (BSRA) must be executed between the property and State’s environmental protection agency. The BOCC approved this program as part of a continuing effort to redevelop and revitalize the County’s principal tourism area.

Program details can be found online at http://www.dep.state.fl.us/waste/categories/brownfields/default.htm.