The need for a clear, actionable plan was stressed, as one member articulated urgency for decisions to be made by October. The board explored the idea of mixed-use development for the property, suggesting that it could include retail spaces below residential units. There was debate on whether to retain ownership and invest in renovations or to sell the property, with a strong inclination towards maintaining ownership while enhancing its value.

Discussions also covered the broader role of the CRA in property development, emphasizing the need for strategic partnerships with experienced developers. A suggestion was made to collaborate with potential tenants in a cost-sharing model for renovations, which could attract businesses hesitant to commit without support. A potential partnership approach was discussed to leverage the CRA’s property ownership and funding sources for sustainable development.

Another focal point was the potential transformation of the property into a community-centric space. Ideas included repurposing it as a gallery for local artists, which could be facilitated by partnerships with nearby organizations. The agency also debated the potential for food trucks to operate on the property as an interim revenue-generating solution while long-term plans are developed. This approach could provide immediate interest and activity, laying the groundwork for future retail opportunities.

The meeting also addressed the importance of aligning the CRA’s development strategies with the broader city plan. The agency has a downtown master plan that must integrate with the city’s strategy, and decisions ultimately require city commission approval. The need for a cohesive vision for downtown Opa-Locka was underscored, with a call for actionable plans to enhance the area’s appeal.

Financial constraints were a recurring theme, with reports indicating significant expenditures on property acquisitions. The agency’s annual budget, slightly above $3 million, necessitates careful evaluation of redevelopment projects for financial viability and potential return on investment. Suggestions included obtaining a pro forma analysis to better understand potential income from renovated properties.

The board also deliberated on the potential for a new restaurant on a high-interest property, with one proposal from Mr. Juice, Dr. Green, to purchase it for $750,000 still pending after six months. The possibility of issuing an RFP to attract specific types of restaurants, such as barbecue or soul food establishments, was considered. Concerns about the property’s aesthetic and the need for parking were discussed, with suggestions for modifications to enhance its appeal.