Cocoa CRA Agenda 06-23-26

Special Cocoa Community Redevelopment Agency Meeting · 2026-06-23 · agenda_packet

[430 Brevard Avenue] The Cocoa Community Redevelopment Agency (CRA) is considering a Tax Increment Financing (TIF) Application for a large-scale residential apartment development at 430 Brevard Avenue. The project, proposed by The Framework Group for 430 Brevard Avenue, LLC, involves a seven-story mixed-use development with approximately 220-242 residential units, 2,800 sq ft of ground-floor commercial/retail space, and structured parking. The estimated capital investment is $93 million, projected to create over 1,000 construction jobs and 306 operational jobs. The project aims to revitalize underutilized property, increase residential density, and enhance economic activity in Cocoa Village. The CRA staff recommends approval of the TIF application, subject to agreements and compliance. The City Council previously considered a Development Agreement for this project on July 22, 2025, for the 1.95-acre site located at the NE corner of Brevard Avenue and Church Street. [430 Brevard Avenue] Staff recommends approval of a Development Agreement for the redevelopment of properties within the Cocoa Waterfront Overlay District. The project at 430 Brevard Avenue involves constructing a seven-story mixed-use development with 243 upscale rental apartments and 2,800 SF of ground-level retail/commercial space, along with a 451-unit structured parking complex. Waivers requested include overhead encroachment for canopies/balconies and reduced parking stall sizes. The project is projected to generate significant economic impacts during construction and ongoing operations. Public comment is not stated in this portion of the document.