Subject:
Title
Approval of Resolution and Real Estate Contract for sale of property in County-owned Commerce Park in Titusville. (District 1)
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Fiscal Impact:
Net proceeds from the sale would be deposited into an EDZ account for use on park-related expenditures only, as per Ordinance No. 2013-08.
Dept/Office:
North Brevard Economic Development Zone
Requested Action:
Recommendation
The North Brevard Economic Development Zone (EDZ) requests that the Board of County Commissioners (BOCC) approve a Resolution and Real Estate Contract permitting the sale of approximately 5 acres of land in the county-owned Spaceport Commerce Park for $180,000.00 to the company known as Milton J Wood First Protection, Incorporated, and authorizing the BOCC chair to execute all documents in connection thereof.
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Summary Explanation and Background:
Milton J Wood Fire Protection, Inc., is an employee-owned company with corporate offices in Jacksonville, Florida. The company designs, fabricates, and constructs fire suppression systems for industrial companies, and for institutional clients, including the Department of Defense and NASA. The company desires to construct a new office and specialty pipe fabrication facility.
The company plans to construct an approximately 15,000 square foot building initially, at an investment of approximately $1,854,000.00, and anticipates expansion in the future. The facility will employ eight full time people within the first year and grow to twelve in the next 24 months. Subsequently, the Company plans to add a specialty fabrication group to the site, adding four more employees.
The EDZ, acting as the county's authorized agent for developing and/or inducing the development of lots within the Spaceport Commerce Park, formally received and reviewed the company's offer to purchase the land. The EDZ approved the company's offer to purchase the land at $36,000 an acre at its October 11, 2019 board of directors' meeting. The EDZ formally r...
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