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Commissioners approve $2.424M Titusville TIF payment; vote to dissolve North Brevard economic zone follows amid debate
Summary
The board approved an interlocal economic assistance agreement to use Titusville TIF funds up to $2.424 million for the Sears Town Mall redevelopment and later voted to dissolve the North Brevard Economic Development District (NBEDS) after heated public testimony and split votes on future governance.
Brevard County commissioners on May 20 approved an interlocal agreement allowing the City of Titusville to use tax-increment financing (TIF) funds — and the county’s concurrence for amounts above $500,000 — to provide up to $2,424,000 for a Sears Town Mall redevelopment project.
During the discussion, staff said the funds come from the city portion of the North Brevard Development District (NBEDS) trust fund and would not be recaptured by the county general fund if not approved. “Staff has assured me that there are…
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