Cocoa OKs millions in aid for Wal-Mart site

Cocoa City Council members Tuesday night gave a unanimous thumbs up - and several million dollars in cash and economic incentives - to Wal-Mart for a 239-employee distribution center in the city, just east of Interstate 95.

City officials said the expenditures were well worth it as it would increase the city's employment and tax base.

"It's going to help a lot of folks in this part of the county," said   Mayor Henry Parrish said. "I think it's a good deal."

Some have questioned why a corporation with billions of dollars in earnings and revenue needs any economic incentives from taxpayers. At Tuesday's meeting the issues raised were more environmental that economical.

"I really feel like we're selling ourselves short," said Lorraine Koss of Cocoa, adding she hopes Wal-Mart, if it does select the Cocoa location, puts an emphasis on solar power and other renewable energy sources.

Jennifer Kenny, also of Cocoa, said she was shocked to hear there was an active eagle's nest on the site.

"I'm just blown away that there's an eagle's nest on this property - the symbol of America - and anybody is even considering that they could build there," Kenny said.

Brevard commissioners OK Wal-Mart, other tax breaks

The city's package that was approved gives Wal-Mart $2.92 million in economic incentives — including $2 million in cash — to open the distribution center and refrigerated warehouse complex in the city, just south of State Road 524.

Wal-Mart Stores East has been considering sites in Florida and Georgia for the  complex. The proposed 132-acre site in Cocoa is at the Port Canaveral Logistics Park, east of Interstate 95 and south of State Road 524, a location formerly known as Brevard Crossings.

Wal-Mart proposes Cocoa distribution center

The Cocoa incentives are in addition to $3.69 million in property tax reductions, spread over 10 years, that the Brevard County Commission approved last week and at least $1.86 million in state incentives the company is seeking.

The County Commission approved the tax breaks by a 4-1 vote, with Commissioner Trudie Infantini voting no.

Wal-Mart qualifies for $2.95 million in city property tax breaks, spread over nine years, under a Cocoa incentive program, based on the company’s proposal to create 239 jobs by the end of 2020 paying an average of $42,421 a year and making a capital investment of $96.2 million.

But city officials instead proposed a “hybrid” incentive totaling $2.92 million, which would include $2 million in cash in four installments of $500,000 each, plus property tax breaks totaling $920,288, spread over five years.

Wal-Mart would get the cash  when it gets its building permit for the warehouse complex; when it completes site improvements, including land-clearing, grading, and installing water, sewer and storm water utilities; when it gets a certificate of occupancy; and when it starts distribution operations at the warehouse.

Contact Price at 321-242-3658 or wprice@floridatoday.com. You can also follow him on Twitter @Fla2dayBiz.