MIRA Redevelopment Plan Expansion - Aug 19th 2014
The MIRA budget is found on the overall County Budget pages.
Read the 2015 Annual Report to learn more about MIRA.
- Preparing redevelopment plans for designated areas
- Implementing the plan through various means and funding sources such as tax increment financing (T.I.F.), grants, and updated land use regulations
The goal of all redevelopment agencies is the removal of blighting conditions as defined by state statutes so as to encourage the viable economic growth and sustainability of the community. Today there are 14 redevelopment areas in Brevard County; the Merritt Island Redevelopment Agency (MIRA) is the only CRA in unincorporated Brevard County.
HOW IS MIRA ORGANIZED?
In 1989 the Board of County Commissioners established the Merritt Island Redevelopment Agency (MIRA). A seven member volunteer Board, appointed by the District 2 County Commissioner is responsible for providing the oversight to MIRA. The Board has provided MIRA with a staff that consists of an Agency Director and Projects Coordinator. MIRA also utilizes many support services from the County for which MIRA is billed.
2. SR 3 Sub-Area is the primary north-south corridor through Merritt Island and includes all properties that front on Courtenay Parkway from the SR 528 interchange at the north end to Merritt Avenue at the south end.
3. Barge Canal Sub-Area includes SR 528 and the lands to the north that front on the Barge Canal. It extends from the Indian River Lagoon on the west to the Banana River on the east.
4. Cone Road Sub-Area encompasses the industrial lands located south of Cone Road and north of the Merritt Island Airport.
WHY IS A REDEVELOPMENT AGENCY IMPORTANT TO MERRITT ISLAND?
Merritt Island is the most urbanized unincorporated area in Brevard County. State Road 520 and State Road 3 are prime examples of high-traffic volume and commercial corridors that are similar to those in Brevard’s largest cities. These corridors are the heart of the Merritt Island community and yet we are not an incorporated municipality which would collect separate taxes and maintain staff to facilitate many of the projects that MIRA has successfully provided over the past 25+ years! Dedicated funding has allowed MIRA to focus on the development, infrastructure, aesthetics, and economic development issues of this large urban community.
HOW IS MIRA FUNDED?
Redevelopment Agency’s Trust Fund; the funds are not derived from any new or additional taxes. The County’s general fund receives the additional 5% in property value increase along with increases to property values typically felt within areas adjacent to CRA’s.
The Trust Fund money is reinvested into the designated redevelopment area for economic development projects that are outlined within the CRA Master Plan and can only be spent within the CRA boundaries. Typical projects include leveraging these funds with grant dollars and/or private investment incentives to improve the infrastructure and aesthetics of the area.
These improvements increase the property values and thus the tax base benefiting the County, private property owners, and Merritt Island residents alike!