Subject:
Title
Approval of Resolution and Real Estate option contract for sale of property in County owned Commerce Park in Titusville.
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Fiscal Impact:
Net proceeds from the sale would be deposited into a NBEDZ 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 (NBEDZ) formally requests that the Board of County Commissioners (BOCC) approve a Resolution and Real Estate Option Contract permitting the sale of approximately 11.89 acres of industrial land in the county-owned Spaceport Commerce Park in Titusville for $416,150.00 to the company known as NAP Florida, Limited Liability Company, and authorize the BOCC chair to execute all documents in connection thereof.
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Summary Explanation and Background:
NAP Florida, LLC, is an Ohio-based real estate development company that principally works in three segments of the real estate market - multi-family housing, office space, and industrial space - through build-to-suit and leasing arrangements. The company is currently working with a manufacturing operation in the aerospace sector that is seeking a build-to-suit facility with a long-term lease. That manufacturing company would create, at a minimum, fifty (50) new jobs at the building site over the next few years.
After considering other industrial sites in central Florida, NAP has identified an 11.89-acre lot in the Spaceport Commerce Park in Titusville that would allow it to construct a building meeting the specifications of its manufacturing tenant. This new building would measure at least 25,000 sq. ft., and represent a significant capital investment for the local tax base.
The NBEDZ, acting as the county's authorized agent for developing and/or inducing the development of lots within that county-owned business park, formally received and reviewed the company's offer to purchase the land. The NBE...
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