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Cocoa council asks county to extend Diamond Square CRA and lift $150,000 cap
Summary
The Cocoa City Council authorized the city manager to ask Brevard County to extend the Diamond Square Community Redevelopment Agency termination date and to remove the county's $150,000 annual tax-increment cap so the CRA can continue projects funded by TIF revenues.
Cocoa City Council authorized the city manager on April 8 to ask Brevard County to extend the Diamond Square Community Redevelopment Agency's termination date and to remove the county's $150,000 cap on annual tax-increment financing payments.
The council said the two requests come at the Diamond Square CRA's request. Staff told the council the interlocal agreement adopted in 2019 currently sets the CRA's termination as Sept. 30,…
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