Mills50 Intersection Getting Second Gas Station
Empty corner will soon offer gas and convenience store.
A six-pump 5,400 sq ft Racetrac gas station is coming to the NE corner of E. Colonial and Fern Creek at 1601 E. Colonial Drive in the Mills50 District according to Orlando Sentinel. The property is located across the street from a a 7-Eleven built in 2013 built on the site of a former gas station turned scooter shop and an auto repair shop built in 1955 scheduled to be replaced by a Starbucks.
Due to the property being designated as a Brownfield site, the owners became eligible for the following incentives from the State Brownfields Program:
Job creation bonus with no requirements ($2500 under the State of Florida Brownfield Program);
Tax credit of 35% on voluntary cleanup costs; 10% additional credit during the final year of cleanup;
Low interest loans for the purchase of liens, tax certificates, or other claims;
Risk-Based Corrective Action principles apply;
Sales tax credit on building materials used for the construction of a redevelopment project (residential or mixed use);
Up to 5 years of state loan guarantees of loan loss reserves;
Grants/loans available for cleanup (if applicable)
Technical assistance from state university system.