Subject:
Title
Resolution revoking the delegation of certain community redevelopment agency powers to the City of Melbourne and the Olde Eau Gallie Community Redevelopment District
End
Fiscal Impact:
Potential for return of a portion of tax increment redevelopment trust (TIF) funds
Dept/Office:
Dist. 3
Requested Action:
Recommendation
Board consideration and passage of attached resolution.
End
Summary Explanation and Background:
In March, 2019, County staff contacted the City of Melbourne and representatives of the Olde Eau Gallie Community Redevelopment District (CRA) to discuss an interlocal agreement to focus CRA expenditures on transportation infrastructure improvements beneficial to county residents. Multiple conferences occurred, however, when the COVID-19 pandemic developed discussions ceased. In the last few months, negotiations were renewed. Efforts have been made to negotiate an extension of the CRA from the current termination date in 2025 to a later year, provided the CRA TIF funds are directed to a parking garage providing free parking to the public. Unfortunately, negotiations have failed to result in an interlocal agreement. Accordingly, a revocation of the authority granted to the CRA and the City of Melbourne is sought in order limit future actions and expenditures of the CRA between now and the 2025 termination date.
Clerk to the Board Instructions:
N/A