The meeting began with the approval of a resolution authorizing an interlocal agreement between the CRA and the city of North Miami to fund the purchase of the Scott Galvin Center. The executive director was given the authority to negotiate and execute the agreement, which aims to enhance community services and facilities. The resolution passed unanimously with a 4-0 vote.

Another major agenda item was the approval of the amended budget for the fiscal year 2023-2024. The executive director presented the budget, highlighting various financial changes based on previous board direction. The amended budget includes $24 million in funding and reports an A rating from S&P Global. The CRA completed 24 residential projects and 10 commercial sprinkler projects, while also funding seven small businesses through its commercial grant program. Two large-scale developments within the CRA’s boundaries added 408 housing units, and several capital projects were initiated, including the installation of Gateway signs and improvements to library top lots.

The budget also supports regular annual programs such as Mocha Arts on the Plaza, the Women’s Empowerment Luncheon, and the Teach to Fish Business Summit. The community policing initiative funded the Flock program, installing 30 cameras in priority corridors, including West Dixie Highway and Northwest 7th Avenue. Strategic planning efforts focused on attracting national retailers to support local businesses also commenced.

Following the discussion, the amended budget was approved with a 5-0 vote.

The proposed budget for fiscal year 2024-2025 was another focal point of the meeting. The executive director provided an overview, noting anticipated revenue increases from tax increment financing (TIF) and secured debt financing from the previous fiscal year. The proposed budget included $42 million in expenditures, with major allocations for redevelopment revenue bonds, multifamily rehabilitation, and land acquisition.

Notable proposed initiatives for the upcoming fiscal year include launching a multifamily rehabilitation program, piloting a single-family home builder program, and implementing a construction worker training program. Ongoing projects like the renovations at Pioneer Boulevard and the Liberty Garden project will continue, along with ERP system upgrades and trolley funding on Northwest 7th Avenue.

One of the more discussions during the meeting centered around the potential establishment of a foreclosure prevention program. The dialogue highlighted the need to provide education and financial assistance to homeowners facing foreclosure, referencing past efforts where local law firms offered representation to homeowners. An example was cited of a homeowner named Helen St. A, who remains stable after receiving legal assistance.

The discussion addressed the legal and logistical feasibility of creating a program to offer direct financial assistance. It was noted that statutory language changes have constrained the agency’s ability to undertake certain activities. Suggestions included developing a pilot program and ensuring any proposed initiative aligns with legal parameters, possibly by the agency acting as a lender to provide second mortgages.

Participants emphasized the importance of underwriting criteria to ensure sustainable assistance and proposed targeting family homes with income restrictions to avoid benefiting high-value property owners disproportionately. The impact of the COVID-19 pandemic was also acknowledged, with residents previously receiving mortgage and rental assistance now seeking further help.

A consensus emerged to return with a detailed proposal for the board’s consideration, with the understanding that comprehensive guidelines and standards need to be developed. The meeting concluded with a legal counsel report commending the budget and programs, followed by reminders about voter registration deadlines and a unanimous motion to adjourn.