The article entitled “Miracle City Mall – Boondoggle or Opportunity?” was posted on October 10 and can be found at: http://www.eyeonbrevard.org/2013/10/10/miracle-city-mall-boondoggle-or-opportunity-2/
Since the posting of that article, new information has come to light. Although all the dots have not been connected, there is an urgency to present this information to you as votes are being taken in the very near future.
Could it be possible that there is more to the Miracle City Mall deal than what the public has been told? You decide.
Main Cast of Characters:
Robin Fisher – Brevard Co. Commissioner, Founder of North Brevard Economic Development Zone (NBEDZ)
Troy Post – NBDEZ Director
Alan Goins – AG Development
Doug Reardon – President of Exxcel Project Management
Clifford Aiken – CIO Exxcel
RG – Titusville resident
North Brevard Economic Development Zone (NBEDZ) Board:
George Mikitarian, – Chairman (Commissioner Fisher Appointed)
Brenda Fettrow, Ed.D. – Board Vice-Chairman (Commissioner Fisher Appointed)
Robert L. Jordan, Jr., CM – Board Secretary (Commissioner Fisher Appointed also Fisher’s neighbor)
Stan Retz, CPA (Commissioner Fisher Appointed, also does Commissioner Fishers tax returns)
Louis Sanders (Commissioner Fisher Appointed )
Dan Aton (Appointed by County Commission, Commissioner owns private equity in his company)
Al Matroni (Appointed by City of Titusville)
Micah Loyd (Appointed by City of Titusville)
Donn Mount (Appointed by City of Titusville)
Troy Post ( Director of NBEDZ and shares office with Robin Fisher)
What is the North Brevard Economic Development Zone?
As stated in the above website: “The North Brevard Economic Development Zone (NBEDZ, or “Zone”), created in July 2011 by the Brevard County Board of County Commissioners, is a Special Dependent District in the northern part of Brevard county.”
Miracle City Mall Project
Miracle City Mall is located in the city of Titusville and has been abandoned when earlier this year it’s last tenant, J.C. Penney’s moved out. A grant has been applied for by the proposed developer that if approved would be issued through the North Brevard Economic Development Zone to help fund the infrastructure for a new mall. The NBEDZ has an identified source of funding (Tax Increment Funding TIF) but currently there is no money in their reserves. A request was made and has been approved for an interlocal agreement between the City of Titusville and Brevard County to fund the NBEDZ. This interlocal agreement has been approved by the Brevard County Commission but it is subject to there being an approved grant with the developers. It was also added that the county is now going to approve the developer’s agreement.
What is the Miracle City Mall (MCM) property worth?
• The actual price of the Miracle City Mall as stated in the Grant application (pg 8) is $6,300,000.
• The original sale price was $6,000,000 until just recently a $300,000 has been added.
• In January 2013, the Brevard Co. Property Appraisers estimated the market value of the Miracle City Mall at $4,000,000. However, that included land and buildings and the mall was still operating with the J.C. Penny’s store. In February JC Penny’s, terminated their lease leaving the mall empty.
• The abandoned buildings are in a deteriorated state and even city officials have stated that the buildings are a health and safety hazard. The buildings must be demolished and the developer has projected that this will cost approximately $1.5 million dollars.
• It has been estimated that the value of the land without the buildings is $1,620,440 (based on the property appraiser valuation).
• The City of Titusville approved the interlocal agreement subject to their approval of the final site plan. There was, however, a site plan attached with the interlocal agreement. In this site plan there is no town square or civic amphitheater. This is in conflict to what Mr. Goins states as his conceptual plan on the website (http://www.greatertitusville.com/committees/miracle-city-mall/): “The crown jewel of his project design is the TOWN SQUARE. This concept creates a central space which can host concerts, festivals, art shows, dance/fitness classes, performing arts, food events, movie in the square – ANY community event. Mr. Goins is committed to making a “lifestyle” center where our community and visitors can spend time, shop, eat, and enjoy the beauty of our waterfront community.”
? Why would anybody pay $6.3 million dollars for a property valued at $1.6 million?
? If the buildings are such a safety and health hazard, why didn’t they use code enforcement to make the current owners take care of the problem?
? Were customers and employees exposed to friable asbestos? If so, who knew and for how long?
? How is the developer attracting tenants if there isn’t a final site plan?