Brownfield Redevelopment: The Landings
Benge Development Corporation was founded in 1993 with the purchase of their first master-planned development. Since then, they’ve identified, purchased and developed 18 major projects throughout Florida. Benge has a fully integrated approach to development that includes all necessary entitlements, site analysis, economic viability study, engineering, and full horizontal site improvements. Specialties include large-scale 55+ retirement communities, assisted living, memory care, and regional mixed use power centers.
CLIENT INFORMATION
- Client Since: 2006
- Location: Orlando, Florida
- Industry Sector: Developer | Realtor
PROJECT INFORMATION
- Project Location: Winter Haven, Florida
- Status: Ongoing
OPPORTUNITY
Assist client in the establishment of Brownfield Area as a component part of redevelopment activities. Brownfield sites include the former Vigoro/Spectrum Brands fertilizer plant and the City of Winter Haven Chain-of-Lakes Complex. Redevelopment is slated to include a lakefront park, marina, splash park, and boardwalk with shopping, dining & hotel establishments. The project is a centerpiece in the revitalization of the established Community Redevelopment Area of the City of Winter Haven.
SOLUTION
- Coordinate designation of Brownfield Area.
- Coordinate and review BSRA (Brownfield Site Rehabilitation Agreement).
- Perform Pre-Demolition Asbestos Surveys and monitor asbestos abatement activities.
- Perform Phase I and II Environmental Site Assessments.
- Conduct assessments and remediation at impacted sites (per Rule 62-780, Florida Administrative Code); contaminants include pesticides and inorganic compounds.
SUCCESS
Benefits specific to designation of the site as a Brownfields Area include:
- $2,500 job bonus refund for each new job created.
- Sales Tax Credit on building materials purchased.
- Minimum 50% state loan guarantees.
- 50% Voluntary Cleanup Tax Credit (VCTC) annually on all eligible costs.