Subject:
Title
Approval RE: Agreement with Brevard County School Board and The Teale New Haven LLC
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Fiscal Impact:
The current Educational Impact Fee rate for apartment is $1,940.50 per unit. At the current rate, a project consisting of 245 units would be $475,422.50.
If approved, the Educational Impact Fee rate for apartment, for this 245-unit project, would be reduced to $557.00 per unit for a total of $136,465.00. The decrease in the rate per unit is an overall reduction of $338,957.50 to the Educational Impact Fees South District fund.
Dept/Office:
Planning and Development
Requested Action:
Recommendation
It is requested that the Board of County Commissioners consider approval of this attached agreement with the Teale New Haven LLC and the Brevard County School Board and authorize the Chairman to execute the contract.
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Summary Explanation and Background:
Pursuant to Section 62-927, Brevard County Code of Ordinances, the Teale New Haven, LLC provided an “Alternative School Impact Fee Analysis “dated February 2025, to the Brevard County School Board and Brevard County. Based on this analysis, a reduction of impact fees is being requested, which would result in the fee per apartment unit being reduced from $1,940.50 to $557.00.
The proposed tri-party agreement would ratify this reduction in fees. The agreement states the Teale New Haven LLC will construct a 245 unit rental housing apartment complex, with 40% affordable housing units known as “the Teale New Haven”, located at 4455 W. New Haven Ave. The developer has stated that the project will offer rent and income restrictions on 40% of the units at or below the Area Median Income. However, the requested reduction is not premised on affordable housing incentives; rather, it is purely based on the analysis contained in the alternative impact fee study.
The Brevard County School Board met on June 10, 2025, and approved the agreement.
Clerk to the Board Instructions: