FINANCIAL_SERVICESRECOMMENDED

City of Cocoa Community Redevelopment Agency Special Meeting Agenda Packet 2026-06-23

CRA considers 90% TIF incentive for 430 Brevard project

Applicant is requesting a 90% TIF reimbursement over a period of six (6) years (estimated public contribution approximately $6,200,000)City of Cocoa430 BREVARD AVENUE LLCJune 23, 2026

Trusted by teams at

Description

The Cocoa Community Redevelopment Agency is asked to approve a Tax Increment Financing Incentive Program application from 430 Brevard Avenue, LLC for a $93 million mixed-use redevelopment at 430 Brevard Avenue. The proposed agreement would provide a 90% reimbursement of eligible tax increment revenues over six years, contingent on execution of all required agreements and full compliance with CRA and Development Agreement obligations.

Contract Details

Contract Amount

Applicant is requesting a 90% TIF reimbursement over a period of six (6) years (estimated public contribution approximately $6,200,000)

Vendor

430 BREVARD AVENUE LLC

Agency

City of Cocoa, FL

Contract Type

FINANCIAL_SERVICES

Document Date

June 23, 2026

Contract Term

Six (6) years of 90% tax increment reimbursement, beginning after project completion and generation of qualifying TIF revenues

Renewal Info

TIF reimbursement is proposed at 90% of project-generated tax increment for six years; any extension or modification would require future CRA and City approvals and amendment of the incentive agreement.