Virginia DEQ is pleased to present the following examples of brownfield redevelopment success stories. These are some examples of the many innovative and beneficial ways in which environmentally impacted sites in Virginia are being put back to productive use. We encourage you to click on the link following each story to contact the participants and discusss with them what they did, how they did it, how Virginia supported their efforts, and any other questions you may have. Find out how you too can take advantage of redevelopment opportunities in Virginia from those that have already done so.
Rockbridge County “Brownfields” Tax Abatement Ordinance
Recently Rockbridge County moved forward with a tax abatement incentive which encourages revitalization of brownfields properties. Details are below:
In 1997, the Virginia General Assembly adopted into the Virginia Code, http://leg1.state.va.us/cgi-bin/legp504.exe?000+cod+58.1-3664 and defined “environmental restoration sites” as a separate class of property which may be exempt or partially exempt from local taxation. The County Board of Supervisors for Rockbridge County with the support of the Virginia Department of Environmental Quality Brownfields/Land Renewal Program recently enacted an Ordinance which added the “environmental restoration site” in accordance with §58.1-3664 of the Code of Virginia. This action, allows for an environmental restoration site to be determined to be a separate class of property which is exempt from real estate taxation for increased assessed valuation or for supplemental assessments of improvements from the date of qualification for this exemption and continuing for a period of five (5) years. This ordinance allowed the new owner of a legacy brownfield property known as the Stillwater Textile Plant which had been abandoned for 10 years the opportunity to derive an immediate benefit as the new property worked toward cleanup and revitalization of the site. Local governments are encouraged to review this section of the Virginia Code to determine whether this tax exemption could encourage revitalization of properties within their jurisdiction. Please contact Meade Anderson at j.meade.anderson@deq.virginia.gov or 804-698-4179 if you have questions.