Subject:
Title
Approval of Resolution and Real Estate Contract for sale of property in County owned Commerce Park in Titusville and approval of Economic Incentive Package from North Brevard Economic Development Zone for Dark Storm Industries, LLC.
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Fiscal Impact:
Net proceeds from the sale would be deposited into a restricted account under the NBEDZ, 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 (NBEDZ) formally requests that the Board of County Commissioners (BOCC) approve a Resolution and Real Estate Contract permitting the sale of approximately 9.8 acres of land in the county-owned Spaceport Commerce Park in Titusville for $362,600.00 to the company referenced by the EDC of Florida’s Space Coast as for Dark Storm Industries, LLC that it also grant concurrence to the provision of an economic incentive package offered to the company from the North Brevard Economic Development Zone totaling $862,600, and that it authorize the BOCC chair to execute all documents in connection thereof.
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Summary Explanation and Background:
Dark Storm Industries, LLC (a/k/a Project Freedom) is an armaments manufacturing company that produces high-grade small firearms and ordnance accessories for the middle-to-upper income market. The company is currently based in New York state, but has engaged in a site selection search of industrial sites across multiple states for the relocation of its manufacturing division. It is weighing a decision to purchase acreage in the Spaceport Commerce Park and construct a new 25,000 sq. ft. building, and inject more than $3.2 million in capital investment (building and capital equipment cost).
The NBEDZ, acting as the county’s authorized agent for developing and/or inducing the development of lots within that county-owned business park, received and reviewed the company’s offer to purchase the land. The NBEDZ approved a purchase offer from the company for $37,000 an acre at its March 12, 2021, board of directors’ meeting, and approved an incentive package totaling $862,600 in reimbursement grants to induce the project forward. The NBEDZ requests that the Board of County Commissioners approve the land sale and the economic incentive package as presented, to permit the project to proceed.
Contact Troy Post with the NBEDZ, at 321-960-1458, or troy.post@brevardfl.gov <mailto:troy.post@brevardfl.gov>
Clerk to the Board Instructions:
Provide signed copy of adopted resolution, real estate contract, and incentive agreement to CAO and NBEDZ.