6. Default and Remedies. The occurrence of any one of the following events or conditions shall

Diamond Square Community Redevelopment Agency Meeting · 2026-04-20 · agenda_item

This agenda item concerns a forgivable loan agreement between the City of Cocoa and Wall's Bangin' BBQ, LLC, related to the Upstart Diamond Square Small Business Program. The agreement outlines terms for default and remedies, including potential termination, specific performance, injunctive relief, cessation of payments, and reimbursement of funding. The City Council has discretion over remedies, except for immediate payment cessation. The City must provide written notice of default and a 30-day period for the Grantee to cure the issue before taking further action, unless the action is an immediate cessation of payments. This item is currently under review as part of the City of Cocoa's redevelopment efforts. The scope of work involves the administration and potential enforcement of a financial agreement, rather than physical construction. Businesses that provide legal services, financial consulting, or business advisory services may find opportunities related to contract review, negotiation, and compliance. Engaging early could allow service providers to understand the program's structure and offer support before final approvals or potential default scenarios arise.