Different local, state and even federal government agencies have a hand in most complicated real estate development or renovation projects.
Setting aside construction-related issues, zoning is one area in which local governments around Florida can make or break a real estate development. Zoning rules limit what a developer may or may not do on their property. The failure to follow these rules can lead to hefty and ongoing fines or even a court injunction to stop a project.
If they cannot resolve zoning issue up front or convince the authorities to grant them what is commonly called a variance, investors in Palm Beach County commercial or residential real estate may find themselves having to make major and costly changes to their plans or scrapping them altogether.
Zoning laws and procedures are complicated in themselves. To add to the complexity, each local government within Florida may have its own different set of rules and procedures.
Real estate developers may need to work with other administrative agencies
Zoning authorities and local code inspectors are not the only government officials who may impact a real estate project.
Frequently, an investor may find they disagree with their property tax valuation and will want to take the matter before the Value Adjustment Board. Misaligned property valuations could otherwise mean a developer is over-paying property taxes, sometimes substantially.
In some cases, real estate developments or prospective projects may involve government contracts, and an investor will need to protect their interests before the state or federal agency offering the contract.
Other agencies, including historic preservation bodies and environmental authorities, may also be involved in an ongoing real estate deal.
At all stages of a complicated real estate development or other project, those with a financial interest need to make sure they understand their rights and obligations with respect to any administrative agency that may also have an interest in the development.
