Subject:
Title
Legislative intent and permission to advertise an ordinance providing for the General Fund recapture of the tax increment used to finance the North Brevard Economic Development Zone for the purpose of using such funds to support Brevard County Fire Rescue, while honoring the existing contractual obligations and commitments made by the Zone.
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Fiscal Impact:
The proposed ordinance would result in the recapture, for the General Fund, of projected annual tax increment contributions of more than $3 million per fiscal year and any surplus existing funds in the North Brevard Economic Development District Trust Fund.
Dept/Office:
District 3
Requested Action:
Recommendation
It is requested that the Board of County Commissioners approve the Statement of Legislative Intent set forth below, direct staff to prepare an ordinance implementing such intent, and schedule and advertise the ordinance for public hearing.
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Summary Explanation and Background:
At our meeting on December 17, 2024, the Board of County Commissioners received a presentation from staff addressing the required Board actions and timeline should the Board wish to consider an adjustment to the Fire Service Non-Ad Valorem Assessment (the "Fire Assessment"). During that presentation, it was made clear that any increase to the Fire Assessment could only be used to fund Brevard County Fire Rescue's (BCFR) provision of fire services. Any increase in the Fire Assessment would require a corresponding increase in General Fund revenues to fund BCFR's provision of countywide emergency medical services. Recognizing the need to enhance funding for BCFR, this item is proposed to increase available recurring General Fund revenue for allocation to BCFR without increasing ad valorem taxes.
The North Brevard Economic Development Zone (the "Zone") was created in July 2011 by the Brevard County Board of County Commissioners as a dependent special district. It was conceived with the principal goal o...
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