Copy of North Brevard Economic Development Zone by

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Copy of North Brevard Economic Development Zone

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PRESENTATION OUTLINE

NORTH BREVARD ECONOMIC DEVELOPMENT ZONE

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THE PERCEPTION:

TITUSVILLE AREA ECONOMY - HEAP OF DISASSEMBLED PARTS

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A SLEEPING GIANT

INFRASTRUCTURE, PEOPLE, AND OPPORTUNITIES EXIST

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THE NEW FRONTIER

COMMERCIAL SPACE - A GROWING SECTOR

ARTISAN MADE

UNIQUE MANUFACTURERS IN AREA - A BIG SECTOR

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RELATIONSHIP FOCUSED

REGIONALLY AND INTERNATIONALLY

THE NEXT "hOT" PLACE?

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BUT CHALLENGES EXIST...

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FEDERALLY-CONTROLLED PROPERTY

AT KSC aND PROTECTED WETLANDS

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10.

ELONGATED COMMERCIAL CORRIDOR

PARTICULARLY TOUGH FOR RETAIL DEVELOPMENT

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11.

THE RIGHT TOOL

ECONOMIC DEVELOPMENT ZONE - TO ENCOURAGE CAPITAL INVESTMENT

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12.

LARGEST IN STATE

A NEW SPECIAL DISTRICT

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HOW DOES IT WORK?

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LIKE A T.I.F.

BUT WITH A TWIST - NEW CONSTRUCTION ONLY FOR FIRST 5 YEARS

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IMPACT? CONSIDER THIS ...

County-wide new construction in FY 2011/12 - $210 million
Zone new construction in FY 2011/12 - $3.7 million
Only a percentage of county AVT general fund/city's AVT allocation

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16.

CURRENT TIF COLLECTIONS

District 1 - $280,559, or 7%
District 2 - $1.6 M, or 41%
District 3 - $678,771, or 16%
District 4 - $1.1 M, or 26%
District 5 - $396,461, or 10%

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17.

ZONE REVENUE PROJECTION

FY 2011/12 - $15,000
FY 2012/13 - $15,000
FY 2013/14 - $66,000
FY 2014/15 - $3 M
FY 2015/16 - $66,000

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18.

SO, WHAT WILL THE ZONE DO?

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19.

AIDING IN BUSINESS ATTRACTION

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REDEVELOPMENT

MIRACLE CITY TOWNE CENTRE

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BUSINESS DEVELOPMENT

HELPING TO RECRUIT AND GROW FIRMS

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22.

INVENTORY IMPROVEMENT

SPEC BUILDING, PAD READY SITES

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23.

SOMETHING TO CHEER

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