Wednesday, December 4, 2013

Big Changes To Miracle City Mall Proposal



TITUSVILLE, Florida -- Major changes at the eleventh hour have occurred to the Miracle City Mall redevelopment proposal where a developer hopes to obtain $6.5 million in Brevard County taxpayers' money through the North Brevard Economic Development Zone (NBEDZ).


The most significant change, according to documents filed with the Brevard County Commissioners on Wednesday, is that the "Minimum Qualified Investment" required by the developer has been slashed from $51.3 million to just $34.2 million.  Of that $34.2 million is an increase in the land purchase price from $6 million to $6.3 million.  


The increased land price coupled with the overall reduction on the "Minimum Qualified Investment" required means that the proposed investment amount required by the developer into improving the land has fallen 38.4% from $45.36 million to $27.94 million.


Another major change is that A.G. Development Group, Inc. has been removed as a party to the Economic Development contract with the County and replaced with Ohio-based Exxcel Project Management, Inc.


The issue of whether the County should use taxpayer money to redevelop Miracle City Mall had been scheduled for last Tuesday's Brevard County Commission meeting.  But at that meeting, Brevard County Manager Howard Tipton pulled the issue as an Agenda item citing changes that needed to be made.


The newly-filed proposal will be before the County Commission on Thursday, December 5, 2013 at 5 p.m.

Update: The County Commission voted 4-1 in favor of giving the developer the $6.5 million, with Commissioner Trudie Infantini voting no.


RELATED STORIES:

OpEd: NBEDZ Blows $6.5 million on Miracle City Mall Bailout 

NBEDZ Wants To Give $6.5 Million Grant to Developer

Letter to the Editor: Redevelopment of the Miracle City Mall 

NBEDZ Ethics In Question (VIDEO)

15 comments:

  1. Today (Thursday, December 5, 2013) two days before National Pearl Harbor Rememberance Day (December 7, 1941), the Brevard County Commission by a vote of 3-2 will attack on the taxpayers of Brevard County. How?

    The commission will vote favorably to fund this pig-in-a-poke. At the last minute, a new developer was brought into the mix. Exxcel Project Management, Inc. replaces A.G. Development Corporation. Nobody has told the local taxpayers why there was a last-minute switch.

    But...........someone will pocket an extra $300,000 since the land purchase price was increased. Hummmmmmmmmmmm.

    And, the investment to improve the property has dropped almost 40%. Hummmmmmmmm.

    Who loses? Taxpayers of Brevard County.

    Who wins? "Connected" politicians and "good ole boys" in the network of corruption.

    ReplyDelete
    Replies
    1. No one mentions the millions required to clean up the site from the asbestos. My sources tell me it will cost upwards of $6M just to clean up that alone.

      This mall thing is simply a bad idea. Yes, Bulldoze the whole thing and sell the land to another developer. Maybe CONDOs or Apartments would best suit that location. But certainly not a Mall. That entire area is blighted. Now people prefer to shop over by WalMart area.

      I wish our government was smarter and better respected the taxpayer money they control.

      Delete
  2. I agree with Randall, why the changes in the last min? Also what is now the new plan?

    ReplyDelete
  3. LMAO! Bend over Brevardians! Your county is a joke and you voted for these clowns.

    Guess what? There's a reason why MCM is deserted: T'ville is a dump. No one is going to travel there to shop. How is building a new mall going to change that? You're dreaming!

    Just the latest impending Breeeeeeeeeeeeeeeeeevard, Floriduh failure. Enjoy!

    ym

    ReplyDelete
    Replies
    1. ym,

      So what is YOUR solution? Do nothing? Bulldoze Titusville over?

      Delete
    2. YES!!! DO NOTHNG!!! Do nothing with taxpayer money. This is not a problem for all the citizens of Brevard. Are we a capitalist country or not.

      I hope you don't run for office with the mindset you are showing here. We've had about enough of socialistic leadership these past years from BOLIN/NELSON/FISHER

      Delete
  4. Sorry ym, but Brevard County is not as you say, a joke.

    The Miracle City Mall site is located between the Kennedy Point Yacht Club and
    the Harbor Point complex - near the new 44 million dollar Max Brewer Bridge .
    If there are any losers in this, it's the ones who didn't get in on the ground floor of this project.
    Al Schrader

    ReplyDelete
    Replies
    1. Okay, Al, but you didn't answer my question: How is building a new mall going to change that? Why didn't MCM succeed? I wonder what the developers said when they built it? That only "losers would fail to get in on the ground floor"?

      Again, this is what's called polishing a turd. No one is going to Titusville simply because they have a new mall (with the same stores as every mall). And no mall will survive on the local (nearly destitute after Obama screwed you) population. Why would they? T'ville is hick-filled dump.

      Do I need to remind you of this?

      ym♥

      Delete
  5. I listened to the CC meeting when this first came up and the Titusville City guy was bragging on the new hotel constructed in Titusville (on SR 50).

    This new hotel is now in foreclosure. Such is the future of Titusville and this boon-doggle of a Mall idea.

    ReplyDelete
  6. Titusville can do what it wants but whatever done, taxpayer money should not be part of it. If it was such a good thing, the market would have provided a remedy. This is simply a bad idea and many are saying this and yet, the commissioners know better.

    I believe that time will show this to be still another unethical bad idea forced upon the citizens of Brevard by some incompetent commissioners.

    You have 3 of them that vote together almost 100% of the time. There is no real representation of the public on the commission.

    ReplyDelete
  7. All...

    We have a chance to clean up our County Commission soon. Make sure you investigate each person before you cast your vote. I know it's hard sometimes after all, NELSON sold himself as a conservative Republican but turned out to be a liberal RINO.

    We need educated conservatives on the commission that support the taxpayer better than themselves. So far, only one (Trudie) meets this criteria.

    What we really need is a "Scott Ellis" on the board.

    ReplyDelete
  8. Well at least it looks like it will be pleasant place for the teenagers to hang out and smoke pot............

    ReplyDelete
  9. Ok ym I'll explain it to you.
    When the Miracle City Mall was new (and I was here) it was a tremendous success. That was when JC Penney was "the" place to shop and Orange Julius was a new popular beverage.
    Titusville has one of the biggest Super Wal Marts ever built and it takes forever to park and check-out because it's crowded. And a new Super Publix.
    Titusville has a brand new half million square feet Loews store, a new Target, A new Home Depot, new Circle K, new Aldi, on and on and on.
    You sound like a nay-sayer - something I'm familiar with because I'm an inventor.

    I confess, I was the guy who pulled the strings to have the junk railroad freight cars removed North of town. Since then a new medical center, new Mobil plaza, new Raceway plaza, new storage center, and new Walgreens, new chain of lakes socker field and 5 story tower (on and on) have been built.
    Soon there wont be any retail land left. The Miracle City Mall site is a prime piece of land and can only be built towards the sky.

    I've never seen a nay-sayer that was a success.
    I'm not a nay-sayer.
    This is America. If you build some fun and exciting people will come.
    Al Schrader

    ReplyDelete
    Replies
    1. (soccer , something fun)

      Delete
    2. Thank You, all done with PRIVATE funds. Capitalism does work sir.

      Delete

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