7. INDEBTEDNESS . The Parties agree that the CITY and CRA may not incur

Community Redevelopment Agency · 2026-05-19 · agenda_item

This item concerns an agreement between the City of West Melbourne Community Redevelopment Agency (CRA) and the County regarding future debt. The agreement states that the CRA and City may only take on new debt if the funds are used for projects described in a separate paragraph 4. Any existing or future debt by the CRA or City that uses County tax funds for repayment cannot go beyond 15 years from when it was issued or June 19, 2038, whichever is sooner, unless the County agrees. This item is currently under review as part of an agreement. This agreement could lead to future construction projects that would require site clearing, grading, utility work, paving, building construction, and landscaping. Local contractors, suppliers, and service providers should monitor this item as it moves through the review process. Early engagement could provide an advantage before specific project plans, bids, and permits are finalized.

maturity date

15 years