Subject:
Title
Board Direction on City of Melbourne's Request to Amend the Interlocal Agreement Governing the Olde Eau Gallie Riverfront Community Redevelopment Agency
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Fiscal Impact:
The fiscal impact of the City of Melbourne's proposed amendments to the Interlocal Agreement between the Board, the City of Melbourne, and Olde Eau Gallie Riverfront Community Redevelopment Agency is to authorize the Agency to incur debt of not to exceed $12.075 million in principle from the Agency's tax increment funds and not to exceed its termination date of September 30, 2038.
Dept/Office:
Central Services
Requested Action:
Recommendation
It is requested that the Board of County Commissioners (the Board) provide direction to staff regarding the proposed amendments submitted by the City of Melbourne to revise the Interlocal Agreement between the Board, City of Melbourne (the City), and the Olde Eau Gallie Riverfront Community Redevelopment Agency (the Agency):
(1) Authorize staff to negotiate with the City of Melbourne regarding the City's proposed amendments to the Interlocal Agreement, including:
a. Establish the parameters the Board is willing to negotiate with the City of Melbourne to revise the Interlocal Agreement adopted by the Board on May 4, 2021; and
b. Prepare revisions to the Resolution to reflect any renegotiated terms in the Modified Interlocal Agreement; and
c. Bring back the revised Interlocal Agreement and Resolution to the Board for consideration on December 16, 2025; or
(2) Other action determined by the Board
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Summary Explanation and Background:
Pursuant to Section 163.410, Florida Statutes, in any county which has adopted a home rule charter, the power to create and govern community redevelopment agencies shall be exercised exclusively by the county commission. However, a charter county commission may, in its discretion, delegate the exercise of these powers within the boundaries of a municipality to the governing body of such municipality.
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