City of Winter Springs Busines Incentives
Seminole Economic Enhancement District (S.E.E.D.)
Seminole Economic Enhancement District (S.E.E.D.) Areas Program Winter Springs has identified key areas in the City as targeted areas for economic development and redevelopment. In 2008, Winter Springs designated four areas within the City as Seminole Economic Enhancement District (S.E.E.D.) areas for the corresponding provision of environmental remediation, rehabilitation, and economic redevelopment. Refer to the S.E.E.D. map on page 22. The City's four S.E.E.D. areas enable access to additional State and Federal incentive programs for projects that locate in the S.E.E.D. area and create additional jobs or create a significant capital investment. This enables developers access to apply for a range of site development incentives including:
$2,500 Job Bonus Refund for each new job created in a designated S.E.E.D. area by an eligible business
Sales Tax Credit on building materials purchased for the construction of a housing project or mixed-use project
If you enter into a S.E.E.D. 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 (S.E.E.D.) sites and up to 75% if the property is redeveloped as affordable housing
Federal benefits that may also be available for development in the Winter Springs S.E.E.D. areas include:
Site-Specific Activities Grant to DEP to conduct Phase I or II Environmental 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
For more information about the Winter Springs S.E.E.D. program, please contact: John G. Metsopoulos, US 17-92 CRA Program Manager, (407) 314-0451 or JMetsopoulos@seminolecountyfl.gov.
Winter Springs Reduced Permitting and Revenue Fees
Winter Springs Reduced Permitting and Revenue Fees To reduce the cost to do business within the City, the City Commission has reduced City Building Permit review fees by 30%.
Winter Springs Regulatory Incentives
The City has identified the Greeneway Interchange District and the Winter Springs Town Center area as targeted development areas. To encourage development in these areas the City provides the following regulatory and development incentives:
- Greeneway Interchange District (GID): An increased FAR up to 2.0
- Town Center Area: Up to 36 dwelling units per acre or FAR up to 1.0
Winter Springs Jobs Growth Incentive (JGI) Program
The City provides upfront, performance-based, cash incentives to qualifying targeted industries that create high-value job opportunities and create significant capital investment in the City.
Winter Springs Permit Assistance and Rapid Response Permitting
The City provides permit assistance and expedited permitting to targeted industries and companies seeking to expand or relocate within the City.
Winter Springs Incentive Partnering
The City has an established partnership with Seminole County and the State of Florida and will participate with County and State incentive programs (local matches, etc.) on a case-by-case basis.
Winter Springs Tax Abatement Program
The City Commission of the City of Winter Springs is authorized to grant property tax exemptions to qualifying new business and expansions of existing businesses.