Before placing a bid on industrial land, it is essential to thoroughly review all relevant municipality or county disclosures to ensure the property is legally compliant, financially viable, and suitable for the intended use. These disclosures offer insight into zoning, environmental issues, tax obligations, and infrastructure availability. Failing to review them can lead to costly delays, legal complications, or unusable land. Below are five critical categories of disclosures to examine.
1. Zoning and Planning Disclosures
- Determine the current zoning classification and allowable land uses.
- Verify if any variances or conditional use permits are required.
- Review local master plans and future land use maps.
- Understand setbacks, density limits, and industrial activity constraints.
- Check for upcoming rezoning proposals or land use changes.
2. Environmental Disclosures
- Access Phase I Environmental Site Assessment reports from the county.
- Identify any soil contamination, hazardous waste history, or remediation orders.
- Examine floodplain maps, stormwater regulations, and protected areas.
- Review records of compliance with local and federal environmental laws.
- Clarify any obligations for ongoing environmental monitoring or cleanup.
3. Infrastructure and Utility Disclosures
- Confirm access to water, sewer, electricity, gas, and internet infrastructure.
- Check for capacity limits or service expansion timelines.
- Review any planned public works projects that may affect access or cost.
- Examine transportation connectivity, including road and rail access.
- Identify any utility easements or service agreements tied to the land.
4. Tax and Assessment Disclosures
- Review current property tax statements and special assessment records.
- Identify any outstanding tax obligations, liens, or disputes.
- Examine assessment methodologies and potential changes after development.
- Clarify if the property falls under any tax increment financing districts.
- Understand any local incentive programs or abatements available.
5. Permit and Compliance History
- Investigate any previous construction permits and compliance records.
- Check for unresolved code violations or enforcement actions.
- Understand building permit requirements and approval timelines.
- Review county or municipal inspection reports, if available.
- Confirm alignment with fire safety, occupancy, and industrial usage codes.
