How will the value of my property be impacted if it is within a designated Brownfield?

A Brownfield designation itself should not negatively impact the value of a property. In Florida, a brownfield area designation does not indicate a property is contaminated. Section 376.79(5) defines the term “brownfield area” as “a contiguous area of one or more brownfield sites, some of which may not be contaminated, and which has been designated by a local government by resolution.”  If your property is located near a documented contaminated site that could undergo site rehabilitation under Florida’s Brownfields Redevelopment Program, property values may increase because of the cleanup and associated redevelopment. Studies have shown that brownfields cleanup and redevelopment projects often result in an increase in the value of nearby properties.

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1. Is there a timeframe to opt out of the designation?
2. Can I decide later to opt in? If so, how?
3. How will the value of my property be impacted if it is within a designated Brownfield?
4. How will the value of my property be impacted if the property next to or around me is designated and mine is not?
5. Will this designation be reflected with the Broward County Property Appraiser?
6. As a home owner how will this benefit me?
7. As a business owner how will this benefit me? For example: property taxes, business taxes, loans, etc.