Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Economic Development Tif topic
No spam. Unsubscribe anytime.
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 existing funds available within the city portion of the TIF to fund this if approved by the county,” a county official said. The board approved the interlocal agreement 5-0.
The TIF approval provoked public comment, with some residents and activists urging more fiscal analysis before spending and questioning the size of the city’s TIF balance. Developer representatives and the general contractor for the project described infrastructure improvements, job creation projections and planned uses including a hotel, assisted living and retail.
Separately later in the meeting, commissioners considered an ordinance to dissolve NBEDS and recapture remaining tax-increment payments to the county general fund. Supporters of NBEDS — including city leaders, developers and zone board members — argued the zone has catalyzed redevelopment and job creation in North Brevard and urged a compromise. Opponents and some commissioners said the district’s structure and past decisions warranted termination.
The board adopted the dissolution ordinance on a 3-2 vote (Yes: Atkinson, Goodson, Feltner; No: Delaney, Altman). Staff said contractual obligations and commitments approved through the trust fund — for example the Sears Town Mall agreement approved earlier — would be honored from city-portion funds before final termination and distribution.
Ending: The county approved the Sears Town Mall interlocal agreement and moved to dissolve NBEDS; staff will administratively manage outstanding contractual commitments and return with transition steps for assets and trust-fund balances.
