Climate change and reducing your carbon footprint are two major topics that are on more and more people’s minds these days, including the city of Miami Beach. In fact, the city is now looking to make builders pony up some of the costs with a new ordinance. This ordinance states that any structure larger than 7,000 square feet must meet certain green building standards or they must pay a fee equal to five percent of the cost of construction.
Considering the millions of dollars involved in some of these projects that get built in Miami Beach, five percent is a considerable amount of money. In fact, had the city enacted this fee about six years ago, it would have generated about $60 million dollars to use towards green friendly projects like contamination clean up, electric vehicle charging stations, and water quality monitoring.
While the idea isn’t new, it’s loftier than anything similar put in place by another jurisdiction in South Florida as it requires that new construction projects larger than 7,000 square feet have at least LEED gold certification or else they must pay the fee.
Will this new ordinance slow down development in hot markets like Miami Beach? That is one of the developments in the development community, but it’s certainly a positive step in becoming more environmentally friendly.
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