City of Cocoa Economic Development Update

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Kelley Knight
5 years ago
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1 City of Cocoa Economic Development Update

2 Annexation Program May 2002 committed to increasing the City s size by 50% in 5 years. Since 2002, the City has conducted 37 annexations totaling 3,075 acres in real property. In total, the City s land area has increased by 80% from just over 7¾ square miles to 13½ square miles.

3 Future Residential Development 35 Carmalt Street - Quadraplex Residential Unit Adamson Creek single family Barrrera Shores single family Cocoa Landing townhomes, 312 apartment units Delannoy Square - 9 townhomes/office/retail Eagle Cove - 58 single family Emerald Lakes single family Fern Meadows - Phase 2 Lakeside Palms townhomes

4 Future Residential Development Loch Lomand - 26 single family London Cove - 60 townhomes/retail Magnolia Pointe - 7 single family Range Ranchettes - 4 single family Regina Myra - 8 single family Santa Barbara condos, 207 townhomes Treetops condos/retail Trinity Riverfront condominiums - 3 condos Villas at Fern Park - 14 townhomes

5 FY Building and Permitting Completed Major Commercial Projects: Alia Center West Bagwell Office Center Brewer Paving & Development Byrd Plaza FedEx Ground Regional Distribution Center Motel 6 Mr. Stor-It renovation Ocean Potion addition Orange Street Tower Post Office Rinker Concrete Plant addition Space Coast Honda **Space Coast Office of Tourism Relocated from Viera to Cocoa Village **Social Security Offices in Titusville and Rockledge combined to one office on Dixon Blvd.

6 FY Permitting and Building Construction 844 Permits Estimated Value - $62,954, Fees Paid - $402, New Business Permits 182 New Businesses 1315 Businesses Total as of 09/30/07

7 FY Permitting and Building Major Commercial Projects Future Beachline Business Park Brevard Commerce Park Clearlake Road Retail Cocoa City Hall Cocoa Commons Expansion Cocoa Industrial Park Diamondback Airboats Expansion Emerald Lakes Commercial Grissom Commerce Park Grissom Ridge Commerce Park Home Depot Mike Erdman Toyota Sam s Club Shoppes at Cocoa North Expansion INDUSTRY ROAD EXTENSION

8 COCOA S TOP EMPLOYERS Brevard Community College Cocoa Campus City of Cocoa Wal Mart Super Center Beyel Brothers Crane & Rigging Florida Solar Energy Center 150 Publix 150 Ocean Potion Fed Ex Ground Distribution Center Coca Cola Bottling 120 United States Postal Service Cocoa Bell South 102 University of Central Florida 100

9 COCOA S TOP EMPLOYERS Rinker Materials of Florida - 93 Brewer Paving & Development - 90 Kiewett Southern - 79 Cocoa Hyundai -70 Watson Paving 60 Guardian Mfg Paradise Ford - 59 O Donnell s Pontiac, GMC Truck, Inc Goodson Paving - 53 Mango Bottling - 45 Diamondback Airboats - 40 Braden Kitchens - 40 Really Innovations - 33 Crest Cleaners - 32 JM Metals- 30 SF Travis - 30

10 COCOA S TOP EMPLOYERS Premium Marine - 29 Paragon Plastics, Inc American Marine - 25 Champions Honda - 20 Neelco Industries - 20 Panther Airboat - 20 Central Wetlands Nursery - 18 Portable Air - 16 Schwan s Home Service - 15 All Star Ice - 15 Covington Plastics - 14 Bank of America - 12 MTC Engineering - 12 Progressive Recycling - 11 Toppertown - 10

11 COCOA S TOP EMPLOYERS Rockledge Design Studios - 9 Autohaus Body Shop - 8 Adrick Marine - 8 East Coast Lumber - 8 South Tire and Auto Service - 6 Solid Wall Systems - 6 RJ Ingram Crane Service- 5

12 Economic Development Ad Valorem Tax Abatement Program Guardian Ignition Interlock Manufacturing, Inc. $1.8 million capital investment 29 employees relocated and 10 additional employees within the first year Premium Marine, Inc. $1.5 million capital investment 20 employees relocated and additional employees over the next 3 years

13 INDUSTRIAL PARK

Enterprise Zone Designated in January 2003 and reauthorized in January 2006.

14 Enterprise Zone Designated in January 2003 and reauthorized in January new businesses since 2003 Incentives Business Equipment Sales Tax Refund Building Materials Sales Tax Refund Jobs Tax Credit

15 Brownfields Redevelopment Program EPA Brownfields Assessment Grants Hazardous Substances (2003) 7 Phase I Environmental Site Assessments 4 Phase II Environmental Site Assessments acres assessed $200,000 expended to date (Grant Complete) Petroleum Substances (2005) 3 Phase I Environmental Site Assessment 3 Phase II Environmental Site Assessment 3.07 acres assessed $133,319 expended to date

16 Redevelopment Agencies TIF Growth Cocoa RDA (138% increase) FY $81.2 million FY $192.9 million Diamond Square RDA (82% increase) FY $31.9 million FY $57.4 million US1 Corridor RDA (61% increase) FY $74.6 million FY $120.1 million

17 Cocoa CRA s Funding AGENCY Brevard County City of Cocoa FY2008 TIF Revenues Cocoa RDA $673,596 $747,218 $1,420,815 Diamond Sq. $132,573 $147,063 $ 279,636 US1 Corridor $218,419 $242,291 $ 460,710

18 Heart of Cocoa Streetscape $1.2 million 8 residential streets 1 commercial and residential street

19 Cocoa Riverfront Park

20 Cocoa Riverfront Park

21 Emory L. Bennett Memorial Statue Awarded Congressional Medal of Honor

22 RDA acquired property Phase I and II Environmental Site Assessment conducted through City s EPA Brownfield Grant Asbestos contamination Demolition completed 07/07 Temporary parking for 120 vehicles Site of New City Hall Old Post Office Redevelopment

23 CITY HALL

24 POST OFFICE RELOCATION ORANGE STREET TOWER USPS Lease finalized and Cocoa Village Retail Post Office open for business!!!

25 Parking Facility Assessment Parking Feasibility Study completed by Rich and Associates, Inc. Supply and Demand Parking Patterns Size - # of spaces Location Options and Cost Estimates Develop Pro Forma

26 Waterfront Master Plan Extend and enlarge the T- Dock to allow for larger vessels to dock. Potential commercial activity Indian River Queen paddlewheel boat Public mooring field Continue riverfront boardwalk connecting Cocoa Village to the Cocoa Branch of the Brevard County Library

27 Diamond Square RDA

28 Magnolia Pointe Development Redevelopment Project 70 Affordably Priced Single-Family For Sale Homes Public Housing Constructed Family Units 115 Elderly Units Proposed Low-Income Elderly Units

29 First Time Homebuyers Program DS RDA has provided over $55,000 in down payment and closing cost assistance to First Time Homebuyers in the Diamond Square redevelopment area

30 Provost Park, Fern and Prospect Park and Joe Lee Smith Park Funding Provided for Renovations

31 Regina Myra Residential Program 8 Single Family Homes with a Common Area

32 BEFORE Ritz Condominiums

33 Ritz Condominiums AFTER Development Project in Partnership with the City of Cocoa

34 US1 Corridor RDA

35 US1 RDA partnership with FDOT: Approx. $3 million Construction set to begin in US1 Widening

36 Gateway to Cocoa Signs

37 U.S. 1 and 520 Intersection

38 Byrd Plaza Renovation $50, in Facade Grants

39 Bracco Pond Trails and Pavilion 55 acre retention and reclaimed water pond area comprised of 5 ponds Pathway, pavilion and parking facilities planned

40 Team Cocoa Mary Sharpe, Manager Susan McGrady, CRA Manager Office of Economic Development Office of Economic Development

WHY MOVE YOUR BUSINESS TO HOLLYWOOD?

WHY MOVE YOUR BUSINESS TO HOLLYWOOD? Close to international airport and seaport Centrally located in 3.5 million population No personal income tax Diverse labor force and talent pool Waterfront executive