TIF Incentive Agreement for 430 Brevard (The Framework Group)
Summary
The Framework Group wants the CRA to return 90% of the new tax money generated by its planned seven-story apartment tower — roughly $6 million over ten years — to make the financing pencil out. The board weighed that cost against a projected $35 million-a-year economic impact and a currently underused building paying only about $3,800 a year in taxes. Big concerns: the CRA sunset in 2041, and whether enough TIF remains for parking, lighting, police, and streetscape needs.
At a glance
- Total mentions
- 4
- Last 30 days
- 0
Discussed at 1 meeting in the last 60 days; most recently Oct 5, 2026.
Impact analysis
The incentive would return roughly $600,000 a year — about $6 million total — of new tax revenue to the developer over ten years, while the CRA keeps the base value plus 10% of the increase.
Downtown Cocoa gains hundreds of new residents, village shops and restaurants get more foot traffic, and the city's tax base grows once the CRA sunsets.
Merchants worried about construction disruption, on-street parking pressure, and the CRA losing most of its new revenue for projects like the pier and civic center during its final years.
Mentions & discussions (2)
Cocoa Community Redevelopment Agency - Oct 5, 2026
The Framework Group wants a 90% TIF rebate — capped at about $6.2 million — to build a 242-unit apartment building with retail in Cocoa Village. A deferral push over confidential financials failed 5-2, and the draft agreement will come back for a final vote, with members signaling they want the public to see the full non-confidential package.
Cocoa Community Redevelopment Agency - Jun 23, 2026
The Framework Group wants the CRA to return 90% of the new tax money generated by its planned seven-story apartment tower — roughly $6 million over ten years — to make the financing pencil out. The board weighed that cost against a projected $35 million-a-year economic impact and a currently underused building paying only about $3,800 a year in taxes. Big concerns: the CRA sunset in 2041, and whether enough TIF remains for parking, lighting, police, and streetscape needs.
Related development
430 Brevard mixed-use development
If built, the project would add hundreds of households downtown, create over a thousand construction jobs, and boost village business — but a seven-story building in the middle of the village means years of construction disruption and parking pressure for merchants.
430 Brevard TIF Incentive Agreement
A TIF agreement could help finance redevelopment of the 430 Brevard property using future tax increment, shaping the downtown district's growth.
430 Brevard Avenue Large-Scale Residential Apartment Development
If approved, the TIF could help unlock a sizable apartment development downtown, adding housing and foot traffic to the Brevard Avenue corridor.
We'll email you when it's on an upcoming agenda and when it's voted on, at most once a day.
The weekly brief for Cocoa
What the council decided, in plain English — one email a week.
Free. Unsubscribe with one click any time. We never sell your email.