For generations, Florida has served as the cultural center for retiring Americans. Many Baby Boomers view Florida retirement as the culmination of the American dream. Developers have spent millions building up condos and housing communities along Florida’s gorgeous beaches to provide for these snowbirds.
If you are hoping to develop property along Florida’s coast, new legislation may impact your decision. In July 2020, Florida’s governor signed several environmental bills into law that change shoreline development.
New bill requires an environmental impact study
In July 2020, the Florida legislature passed several bills aimed at taking on climate change. In less than 24 hours, the governor signed bills addressing dangerous algae levels, invasive Burmese pythons, stormwater runoff, farm fertilizer, and more. One of the higher profile bills concerned public construction projects along Florida’s coast.
Senate Bill 178 requires that all new public construction projects along Florida’s coast review the project’s potential impact on Florida’s fragile shores. Rising sea levels have contributed to a 500% increase in flooding nationwide, personally impacting the nearly 15 million people that live along Florida’s 1,300 miles of coastline. The National Oceanic and Atmospheric Administration (NOAA) predicts that Florida’s sea levels will rise by at least 21 more inches by 2070.
Legislation like SB 178 hopes to curb these numbers by encouraging that contractors use more eco-friendly and preventative construction methods. If your new project accounts for and combats these rising sea levels, you can help curb environmental damage while providing valuable housing that accounts for a changing world. SB 178 asks more of property developers but also presents a potentially lucrative investment.
Curious about Florida property development? A lawyer can help
If you have questions about Florida real estate, a local lawyer can provide answers. An attorney familiar with Florida’s real estate laws can review contracts, suggest professional surveyors and ensure compliance with state regulations.