Rising Tides and New Regulations: Florida’s Sea Level Impact Project Study Law

Stay ahead of the changing tides: Capital Advisor USA offers financing solutions for coastal construction projects in the wake of new Florida legislation taking effect on July 1st.

“The greatest threat to our planet is the belief that someone else will save it.” – Robert Swan

As of July 1st, 2023, the state of Florida will implement a new law requiring state-financed constructors to conduct a Sea Level Impact Project (SLIP) study before commencing construction of coastal structures. This groundbreaking legislation is a response to the growing concern over the impact of climate change on coastal communities and the construction industry. According to the National Oceanic and Atmospheric Administration (NOAA), global sea levels have risen about 8-9 inches since 1880, with about a third of that rise occurring in the last two decades.

At Capital Advisor USA, we recognize the importance of sustainable investing and supporting businesses that adapt to new regulations and environmental challenges. Our commitment to providing capital without collateral and personal guarantees, as well as secured bank-like financing with a more customer friendly process, positions us as a valuable partner in navigating these uncharted waters.

Are you seeking growth capital for your business to take advantage of government contracting opportunities or other growth prospects in light of these new regulations? Answer these 3 questions and get our FREE, No Obligation report:

1. Are you a Start-Up or Established Business?
2. What State are you in?
3. If an established business, what are your revenues for the last 3 Months? Highest 3 months?

For start-ups, let us know how much capital you are seeking, and we will provide a tailored report on capital sources, followed by a FREE consultation if desired.

Florida’s SLIP study law is a crucial step in addressing the challenges posed by sea level rise and increased storm risk. As a responsible financial partner, Capital Advisor USA is dedicated to supporting businesses that embrace sustainable practices and adapt to new regulations.

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Act now and secure the financing your business needs to thrive in the face of changing regulations and environmental challenges.

Here are some highlights set forth in the new law going into effect on July 1, 2023:

Highlights

• The state of Florida will require that “state-financed constructors” conduct a sea level impact project (SLIP) study prior to commencing construction of a coastal structure effective July 1, 2022. The SLIP study must be submitted to the Department of Environmental Protection (DEP) and comply with the requirements of the DEP SLIP study rule, Chapter 62S-7.
• The SLIP study must take into account potential relative local sea-level rise and increased storm risk during the expected life of the coastal structure or 50 years, whichever is less. The study may require sign-off by a professional engineer.
• DEP may seek injunctive relief to cease construction or recover state funds expended on the coastal structure if SLIP requirements are not satisfied.

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