Seminole Economic Enhancement District (Seed)
During 2008, Winter Springs designated three (3) areas within the City as Seminole Economic Enhancement District (SEED) areas, as authorized under Sections 376.77 through 376.85, Florida Statutes, for the corresponding provision of environmental remediation, rehabilitation, and economic redevelopment.
The SEED is a state economic development incentive to accomplish two purposes:
1. To provide general economic development opportunities in designated zones on a project by project basis; and
2. To promote special economic development opportunities in designated zones for properties that require the clean-up of environmental contamination on a project by project basis.
Currently, no brownfield clean-up sites have been identified in Winter Springs. The designation was primarily an endeavor to facilitate job creation, and support community revitalization.
The program offers tax credits for site rehabilitation and the provision of affordable housing. Other financial incentives available under the SEED designation include:
For Both General Economic Development Projects and Environmental Clean-up Economic Development Projects:
100% Building Materials Sales Tax Rebate on residential projects containing 20% or more workforce housing units; and
$5,000 Cash Rebates on projects generating $2 million in capital investment outlays and at least 5 new full time Qualified Target Industry (QTI) jobs or
$2,000 Cash Rebates on projects generating $2 million in capital investment outlays and at least 5 new full time Non-QTI jobs.
For Environmental Clean-up Economic Development Projects only:
Up to $2 million in Tax Abatements and Cash Outlays for Clean-up Expenses;
Up to $2 million in Sale of Tax Abatements to a Third Party;
Limits on Lender Liability for Clean-up Requirements;
Limits on Liability for Clean-up on Adjacent Properties; and
Limits Federal Enforcement Intervention.
Source: George Houston, Central District Brownfield Coordinator for the Florida Department of Environmental Protection, 2008.
Click on the link below to see a Map of the Winter Springs' Seminole Economic Enhancement District (SEED) Areas:
Winter Springs SEED Areas.pdf
For more information, please contact:
John G. Metsopoulos, U.S. 17-92 CRA Program Manager