Subject:
Title
Resolution Modifying the Delegated Authority to the City of Melbourne and the Olde Eau Gallie Riverfront Community Redevelopment Agency.
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Fiscal Impact:
The fiscal impact of this request is that the County will realize General Fund savings of approximately $1.8 million by terminating the CRA 5 years earlier than was approved by Resolution 2021-083, adopted by the Board on July 6, 2021 and the previous interlocal agreement.
Dept/Office:
Central Services
Requested Action:
Recommendation
It is requested that the Board of County Commissioners adopt a Resolution to amend the County's delegation of authority to the City of Melbourne and the Olde Eau Gallie Riverfront Community Redevelopment Agency to conform with the 2025 Interlocal Agreement adopted by the Board on December 16, 2025, and recorded in the County's Official Public Records.
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Summary Explanation and Background:
On December 16, 2025, the Board adopted an Interlocal Agreement between the City of Melbourne (the City) and the Olde Eau Gallie Riverfront Community Redevelopment Agency (the Agency). This Resolution amends the County's previous delegation of the Agency's powers to conform with the 2025 Interlocal Agreement recorded in Official Records Book 10513, Page 2967. The 2025 Interlocal Agreement included:
1. The Agency's termination date is September 30, 2033.
2. The City and the Agency may choose to undertake the Parking Garage project as a public-private partnership.
3. The Parking Garage project shall include at least 270 dedicated public parking spaces and shall be restricted for a period of fifty years.
4. The City and the Agency may appropriate and expend the Agency tax increment fund in an amount not to exceed $12.075 million.
5. The County agrees and authorizes the City and the Agency to issue indebtedness up to a maximum of $6.835 million with a maturity date that does not exceed the Agency's termination date.
6. Public parking spaces will be available with no term park...
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