##VIDEO ID:YMTQXU6cUDY## one for the fiscal year or we have another one we will have a special meeting on September 18th to approve the budget ahead of the city budget so this is officially well this could almost be our last meeting before we get into NE next for school year 2425 um Madam uh we have a couple of items we're going to call the role from Madam Clerk and um from from the secretary I'm sorry and Then followed by the pledge of Legion and it will go into consent agenda mam secretary thank you it's 5:36 p.m. chairman desme here Vice chair ese Irving president board member Galvin board member Timothy board member Charles president May chair we have a quorum thank you so much Madam Secretary we'll stand for the pledge iedi to the flag of the United States of America and to the Republic for which it stands one nation under God indivisible liberty and justice for all thank you Madam Secretary I'm sorry um yes Madam Secretary it's an agenda [Music] okay reading in the first resolution a resolution of the chair and board members of the north Miami community redevelopment agency approving the Second Amendment to infrastructure Grant agreement between nmc and TRN M holding TL LLC approving the Second Amendment to tax increment recapture incentive agreement between the nmc and TRN wait wait wait wait wait Madam wait that was consent first right you got to do consent first oh sorry yes you're right I'm sorry consent agenda unless a member of the CRA board wishes to remove a specific item from this portion of the agenda tab a cons consti the consent agenda this item is self-explanation is not expected to require additional review or discussion this item will be recorded as individually numbered adopted unanimously by the following motion that the consent of J comprise of tab a through a adopted approval of the minutes may I have a move second I have a motion made by board member chairman des and seconded by board member Charles All In Motion I all in favor I'm sorry that's all oppos item passes five 53 um three three board member Galvin arrived at 537 for the record okay thank you so much um item for review in action agenda item number one madame manager Madame executive director right now I'm sorry no problem um so yes resolution yes no we did not finish so okay a resolution of the chair and board members of the north Miami Community red oh my goodness my English Okay Redevelopment agency approving the Second Amendment to infrastructure Grant agreement between the nmc and trnm Holdings LLC approving the Second Amendment to tax increment recapture incentive agreement between the nmc and trnm Holdings LLC authorizing the executive director to execute the Second Amendment to infrastructure Grant agreement and the Second Amendment to tax increment recapture incentive agreement authorizing executive director to take all actions necessary to implement the terms of the Second Amendment to infrastructure Grant agreement a second agreement amendment to tax increment recapture incentive agreement and providing an an effective date amen thank you so much Madame um executive director good afternoon the grante is requesting that the nmc board authorize a second amendment to both its infrastructure Grant and tax increment recapture incentive agreements to extend the deadline until June 30th 2026 for the completion of the cons the conditions precedent as well as the funding term the nmc board approved the agreements with the grantee on June 22nd 2021 per resolution 2021-22 4,238 with no more than 9.66 4513 to be spent for sewer and storm water systems electrical including underground utilities Etc and no more than 55397 25 million to be spent for permit and impact fees the award of the tax increment recapture incentive agreement was for a 50% rebate of the projected city adverum tax revenues not to exceed 5,437 one21 the agreements require certain Financial Obligations which are the execution and delivery of the Tiff agreement approval of all the approval without any um remaining time left on their appeal periods by the city Council of the grantee site planned by December 31st 2022 issuance of all governmental authorities of Developmental approvals by December 31 2023 and the grantee obtaining Equity um or debt or combination thereof in an amount sufficent sufficient to complete the project and evidencing that such de um debt has occurred the grantee received its first extension to these agreements on December 12th 2023 and is currently second um seeking a second extension thank you thank you so very much that was a lot for it was yeah for people watching us um in term Lear terms language um we we there's a simple way I know you could um um you could just summarize it what we do sure and the simple way is that right now in order for the project to begin there are four conditions that Z grante has to show three of them are complete one is outstanding they have to obtain their financing in order to um they're asking for more time in order for them to show that they have their financing in place which we are amenable to granting the agreements as drafted we did come to a slight change with them as drafted it has the payment schedule beginning in 2526 if the grantee is able to secure their funding before the extension expires of course we're more than happy to pay out their permit fees and then the remaining two dispersements will happen across two fiscal years yes so yes is that new today yes it was the understanding but as drafted it didn't really capture the spirit what we're saying now I think all parties agreed and that's what we wanted and when we drafted it we didn't realize it didn't really reflect what we were yeah they basically the same thing in summary of of what was happening but it was attorney's language yeah no because my ear I apologize Mr chairman that my ear that was all new to what I thought thought I had read so to to be clear because extension was till June 2026 it made sense that the first dispersement would happen after the extend the expiration of the extension however the guarantee brought up the point what if we're able to secure funding before this expires what would happen then and we're like well of course you'd be able to go ahead and get your permit fees as we are obligated to do but the the agreement didn't reflect that there was no harm no fault the just way that we were proceeding based on the timelines that were in the agreement it was just following the logical course of the timeline not anticipating getting the funding prior to the exploration of the so our staff and the applicant on the same page yes everyone's on the same page right now yes just from from a legal excuse me Mr CH from a legal standpoint then what's in the package is going to be revised slightly to reflect this change that has just been discussed and we've also agreed to delete at the request of the grantee the second wouse clause in each of the second amendments um at their request from a legal standpoint I don't have a problem with doing that either so um staff the executive director legal and the applicant are all on the same page at this pointor as to the terms and conditions um their attorney is here as well and she's waving her hand I believe that in in accordance with what we've just presented to you awesome thank you Steve um and then we have the the two more um grant grant application was that all into one yes oh okay so we only have one item then correct we have a discussion item which is our budget Workshop so that you are familiar with what you'll be hopefully approving on September 18th got it okay awesome well um I move to approve second no uh yes I have a quick question so um um based on everything that's been said so we are um giving an extension tonight until June 20 26 if that is correct in order for them to secure their financing to move forward move forward and um everything that has been read has been and um you know we we are all on the same page that is correct with um this and uh okay so yeah okay I have a motion on the on the floor made by board member Galvin seconded by chairman desom all in favor all all oppos item passes 50 and for the record I have uh board member Timothy arriving at 5:42 thank you thank you so much um discussion items on budget Workshop Madam executive director I believe we should have a presentation coming up for you on the screen here we go yeah the you holding on to the money okay thank you but it's not it didn't change on the screen that there oh okay I see you have a pen it changes on the laptop but not the screen they thank thank you for telling me in advance it does look good in the interest of time I'm going to begin you do have the packets in front of you and as soon as screen is able to catch up we will um you'll be able to see it on the screen in front of you sure however fiscal 24 fiscal year 2024 was a very pivotal year for the north Miami CRA this was a year that the agency was able to secure $52 million2 in debt financing to advance its Mission and execute its Redevelopment plan Additionally the agency received an a rating from S&P Global making it upon the top tier of considerations by Bond purchasers true to the mission the nmc was was able to complete funding 24 residential projects totaling $553,000 and currently has a total of $625,000 encumbered to complete 22 more projects it also completed 10 sprinkler projects for a total of $5,850 Additionally the agency funded seven small businesses in an amount of $475,000 through its commercial grant program while also completing funding two large scale developments the gardens residence and Griffin Park Estates which now adds a combined 408 units of housing to the nmc's boundaries 44 of those units are affordable the nmc also embarked on several capital projects including the installation of two Gateway signs the reabilitation of the I95 sign funded Library Tot Lot improvements and began the Liberty Park renovation project furthermore the design phase for Pioneer Boulevard is almost complete among other accomplishments includes the the funding of flock as a community policing Innovation the agency continued funding mocha arts on the Plaza and education programs and maintain support for recurring programs like the women's empowerment luncheon government week and teach to fish business Summit given West Dixie's Highway West Dixie Highway status as a priority Corridor the agency began conducting a streetscape analysis for this area additionally it funded seven businesses through the West Dixie small business grant Tech program Northwest 7th Avenue is another prior Corridor within the nmc and this was its first year with a dedicated source of funding for the Redevelopment of the corridor as such the agency began several strategic long-term planning initiatives while also addressing some of the immediate needs of the corridors business Community including in the strategic planning the nmc engaged SRS to develop Corridor design guidelines and FIU to development to develop a Redevelopment strategy for the corridor staff also worked with retail strategies to create an action plan to attract National through the corridor and attended the icsc to begin developing those relationships in an effort to meet the current needs of the nmc of the Northwest 7th Avenue businesses it also launched the bis boost grant program which funded 25 businesses thank you um good evening board members chairman uh now I'm just going to go over the numbers for the amended uh proposed amended budget for 2324 and the year to date um one of the main changes for the proposed amended budget is the loan that we secured this year the 52,2 36 um 1,769 uh as you can see on the slide and that is the main change for the propose for the year to date we have uh spent over1 18 million and compared to the 78 million we had in total revenues which gives us the um carryover that we are about to go over the carryover is a total of 6,288 301 and one of the reasons why we have such a high carryover is because of the loan um the development Bond of 51,1 22,24 which the only thing we paid this year in the loan is the bond issuance of 300 and um $65 I believe which will go over for this fiscal year um as you can see in the slide there is a difference between the East and the west and the city and the county um for this fiscal year the revenue for the the taxable value for the east side is 539 um two um $222,222.22 $38 for the county increment Revenue it's 8,7 59,4 which gives us a total of Revenue revenues for the upcoming fiscal year 20 uh 22 m883 284 for the total revenues uh as you will be able to see on the slide the tax you have the city tax increment revenue for 14 million the county tax increment revenue for 8 million the carryover from the prior Year from the 2324 6,288 and uh, 301 the interest earning from um the accounts 200,000 and the miscellaneous revenues $912 what excuse me what is the Miss miscellaneous Revenue um as of right now we are sharing our um occupancy with uh State Rep and they share our um expenses when it comes to the cleaning the utilities for the proposed expenditures for 2425 we have the admin and you could see side by side for fisal year 23 24 2425 the accounting um 20,000 Remains the Same for the local travel the advertising and notices um everything Remains the Same except for the county admin fee and the uh other admin expense uh which is the city the shared services that we have with the city uh the the counting is 1.5% of the amount that we receive from the county and the total amount is $131,800 this year was a $631,000 and this upcoming year is going to be 47462 I see it um repeating twice oh it's a reserve okay yes um The Reserve we are going to carry over until the we yes of the loan right yes but was 5 million that's prob confusing no it's 4 m78 um 1,800 $75 question while we on that I saw um the employee salary and FES increase 200,000 is it um cost of living or is it new well we did we did increase our staff this year so um to also increase their colas and merits and things of that nature got it the other one the big one is the Professional Services from 362 to 400,000 um yeah I'm sorry the 362 and the 400,000 is that was the difference between last year um it's mainly because of the increase on the um work that we're receiving from the economic development last year we were supposed to pay the um I would say the service for the debt um out of the Professional Services and this year we're not um but we did pay it from it was more last year here more than what was budgeted that is correct okay thank you okay and I know that we I'm sorry I know that we also discussed like um in previous um I know we use hipstar Rockstar and because you know we use the use that same company for other things where were they U as well yes that is correct okay a question on through the chair I have a question on the uh the trolley yes so we have an interlocal agreement with the city that gives us our plan of how we're paying so the fiscal years are already laid out within that agreement and so the numbers that you see are already predetermined okay and these is it the Charlie or the freebie the trolley the trolley yes the trolley okay the freebie comes out of the city the freebie the freebie is told we only did a one time one um for freebie and now that's completely on the city Side okay and um Now quickly um to the chair on the employee um employee U salary yes that 200,000 how many um many people we added from there so we increased our staff from 5 to 7 um we do have a professional staff we do have to also include the merits and the colas with that would that be um two yes okay quick question I don't know if you're on that page um on the P it's not numbered the the fy2 20 2425 proposed expenditure continue um I guess letter D uhhuh okay so from from the loan that we received the 17 million for for Rock Parks the 5 million and then so the 25 million is is that the balance of what we we have to spend that is correct yes um eventually we'll get there yeah I just want to prepare the board that today is the last opportunity for us to get direction that is critical for us to be able to complete our numbers for September 18th if we do not have that direction our budget most likely will come back from the county so we're asking begging for that direction today do we have the list of projects so what we and once we get there we'll go in more details you don't actually have to name a project tonight we we can just get into more details it's just you can say a mixed use development for x amount of dollars without having to name the project this activity but then you already allocate that I thought you showed me something where it was allocated we've been sharing with every board member what the projects may be so that you would feel comfortable with them telling us correct exactly okay that's fine all right thank you yes yes sir as I leave you with my last series there was one there was no there was only one thing I'm hoping that's in here and that is money for the African art basil event in December yes it is included in a different section yes with that note you want to announce we see we have a special guest since you on that route to Africa well mayor low from uh the city of banjul in The Gambia is here with us this evening mayor and we we Madam mayor we'll be with you this afternoon doing our council meeting this this is our c meeting but welcome beautiful to see you again than you very nice seeing you um still I still have one thing in my um jol we'll talk about that later thank you so that was my only thing that I'm and I congratulate my fellow CRA board members on putting together a great budget that will serve the CRA in the city going forward amen awesome okay Cass let's finish up so that we could go get ready oh have a party um the Hispanic um Heritage MTH reception okay um go back go through the let's go on um this one the proposed proposed expenditures yes capital projects yes go keep going back up okay go go okay go right here yes and for the proposed expenditures for capital projects we have incentive programs 900,000 um this is the second year in a row that we are below a million um in order to satisfy all the projects that we have in the pipeline all the um business owners that we have been meeting with we would need at least 1.5 million um and this year and they in order to have a balanced budget we only we can only have it at 900,000 and uh yeah so we're missing how how many about 600,000 so we can't find it in anywhere else um um we let's go through we will go after let's go through we going through oh we we haven't even hit the housing initiatives which is that we the plan is to do 25 properties a year with 5 um 10,000 we can only do 16 properties a year and a lot of property owners have been going out of pocket last year we increased the budget from 20,000 to 30,000 and when you look at a roof costing around 22,000 23,000 they can't even afford rent or impa windows and doors we were hoping to increase that line item to 750,000 which would allow us to do 25 properties so this is now it's at 726 and now it's at 5 510 510 and um can we find that money yeah well we going to have to if we need it because um this is um critical um item menu absolutely and every time which item this is the um housing initia housing initiatives yeah and Commercial um like 1% of our but 10% of our budget oh no no for yeah for this project it's only like less than 10% and I I have to mention every year every time we are not balanced these are the programs that usually suffer whenever those are the programs that actually says we benefit these programs are the back have to look elsewhere and fund them properly because we will get a lot of um push back so what would you need um so right now this is Balan right now I am yes we are balanced but vice mayor it's up to us to see if we want to fund these program so if we want to fund these programs we need how much money we don't have the Excel sheet that's what I'm trying to so the CL million no yes 600,000 for the commercial so you need 240 but 840,000 you need4 question when we when we start allocating funding through the loan wouldn't that free up your re your general bu well now it depends because for the carryover we do have 5.5 million that we're carrying over for for a lore that we will be um hopefully we will be able to use this year or the following year if we are able to include that's what we just we just the thing is it alert no alert was in this budget that we're closing that we didn't use how much was that 3 million so we had $3.8 million of funding that we didn't use at that time couldn't the CRA just make an amendment to the budget and maybe open like put it towards that program so you're not carrying it over that would be and that would be half of that no that's all of it no no no they said they need 1.5 and it's million it's 3.8 is it we have 3.84 lore and we need 1.5 million one one more thing I would like um well the problem is no we messing it's it's it's a balance it's credit and debit if we take from one column we need to add it somewhere else if we take it from the carryover for a lore if they do submit this year between October and um of this year and September of next year we need to have the money AV available and it be come from the loan if it comes from the loan then we would increase that we would include that 5.54 lore from the loan and if they do have it available if they do submit for a reimbursement between this fiscal year we would have it available if if not then we can go back and release the funds from the loan and include it in the operating budget I think that that I think she said that makes sense so and I and I spoke with a developer at length Mr Tate um and kind of explained like hey what happened with this year because we can't just have $3.8 million sit in the budget and you have 100 houses that are waiting for repairs that we could have technically amended the budget and said hey let's give more money to this area in terms of commercial grants and housing repairs because we know that those are two areas that are in GRE in the city so and he explained like you know I'm sorry I make sure that he's more communicative this year and making sure that he keeps us on Lube I know he's waiting to see what happens with interest rates and so forth so we'll be watching as well so if they don't go down we know hey he's not using this money and we know that we have now additional funds to utilize so I think what we need to do is be proactive in that sense and be mindful like hey and communicate so so that we're all are aware of hey this is money not being spent cuz if you tell us we had $3.8 million you would have had five ideas of what to spend $3.8 million on this year I had you know I had one um um councilwoman you you um commissioner you you correct um in terms of Jimmy if we communicate we will know what's happening I mean that you know if he's out there talking to the to the right folks and we we getting it I I don't know if if based on how the market is going now I don't think anything going to happen this year so but we there's there's talk that the FED might drop rates and September September this year now people are waiting to refinance we're waiting to refinance long suggest going to do aine what I would suggest is how quickly would we know if when the funds run out is it usually within October we know that I didn't even once we allocate for the for the housing initiatives right oh yeah no when we do our Lottery once we do the lottery we know how many um people have applied we know how much funds we already have so depending on the number of applicants if we have enough to do 24 homes and only 24 apply all 24 get done however we know that we normally have 40 50 people apply and so the lottery determines how much so as soon as we do the lottery we know exactly how much money we the lottery is usually done from octob in October uh the lottery is in no November Thanksgiving the city is the home rehab is on October we open our application process um period from November to Thanksgiving right before um the Friday before Thanksgiving and then we do the lottery right after is there an opportunity to well and and obviously the need is always greater than what we can there was one year where I think it was when bnma was chair where we said hey let's just do all of them and we I think there was like additional funding where we said let's go ahead and fund all of them yes we did 61 applicants yeah they and that's where they were behind was good and and I and I think we probably need uh something like that you know walking the knocking knocking knocking on doors and um District 4 and um I will tell you that the struggle is well and I've seeing some of uh those houses they really really need um some help yes sir uh Mr chairman so what I was trying to mrman go ahead no they told me it's a dumb question what I no what I was what I was going to try to suggest but is that we we we deal with the budget we have when we run out you come to us and then we try you know we kind of figure it out so that and then do another set is that similar to what you're saying yeah yeah I'm just and I probably in your December meeting so given the timeline of when we do our Lottery we could probably do our December meeting and say hey based on the lottery this is this the need that the need that's outstanding and how we yeah see my question and then and then and then in the spring have another because once December comes it's holiday yeah no for you to do the amendment and it would open up in New Year correct well I I'll just throw my question out there it may be the stupid can we borrow from from from the 7th Avenue um thing and then we put it back unfortunately we are not able to you're not able we can borrow from the loan no I know but not the sth can you use some of the seventh a money to do Rehab on sth Avenue we can do a lot onth Avenue can I say this can can you take can you reduce the the number of homes in that area because probably majority of it probably come from there um for for that to cover and then that'll free up the money from from this side well remember the money for sth a is only spent on Seventh a it's not spent on District 4 it's spent on Seventh went and I thought we only Avenue just for very because I'm like there's no way even if you see how much money we have left over once we open the residential process we need to go back C we it's C CRA wide we don't have any districts within the C put in District Four and that would have allowed the West let's let's go on and maybe we can but we we at the end of the day it sounds like we have Avenue where we can always come back and say hey here to meet we are all in agreeance that housing is important for us so then we would I have a quick question uh for last year how many um applicants did we have for last year we had over well complete applicant yes I think we have we had over 28 42 42 42 people applied yes and we not bad 42 4 and 80% of them were from the west side so let me from exactly they were as a quick as a quick reminder the the CRA is one District the city has four District but the CRA is one District just as a quick said it was the the west side I didn't say your name well the people that's where they probably going to I am going to say it again uh member member I'm going to say it again working on U on the street in distri 4 I think we really really need some help and again remember that um the S by definition is um to uh fix uh slum and black so we need to always um be mindful of that and uh we really really do have that and uh we have the money for district I think we need to change the language which I thought commissioner bassan folks were okay with it that would that will freeze up what he's talking about CU there's maybe we now can show that that there's been a slow you know need because I don't think it's wise that we go mess with our we should not we should not take that our agreement we should have a favorable interlocal agre absolutely no no I no I agree with it but what I'm saying is million come up with $40 million and you won't we won't be able to spend it because we don't even have a a master but we are cre remember we are in the process I really want to remind everybody we're in the process of creating that plan we we took this year to be able to do that we will be delivering that um that to you in the new fiscal year but we have a we're going to have a plan we're going to have design guidelines and to the extent that the board is still wanting to and I think you all do want to acquire land we know the the cost of land nowadays and we're going to have to keep rolling some money until we have a decent pot to be able to make a competitive um offer if we spendest for Northwest 7 we won't ever be able to and so there's a long-term and a short-term um strategy and we always have to keep both of them in mind while we're allocating the funding but um if I may add to these to uh Northwest 7th Avenue if you look at what needs to be done on Northwest 7th Avenue for for it to be like a destination as we um talked about it that $3.8 million just like a bending and which is why yes we have the strategies that are going to be in place no I understand but you we getting that money and it's increasing every year yes and 20 years well but we will get a part of it that we will be able to execute the plan that we will show you hopefully you will adopt but even to just thinking about land acquisition by itself $3.8 million can't buy anything on Northwest 7th Avenue right now nothing so we have to build up a poth mhm okay okay all right thank you the only thing that I don't see in this budget if I may mayor is um and what you guys are proposing is um maybe having um a new set of guidelines for like restaurant or new business attractions like to have something that really says hey let me move my restaurant here to North Miami or to Northwest EAB we're working on them okay and that's why we want to increase commercial incentives from 900,000 to 1.5 million from from I'm sorry from where the commercial incentive program um the program you were referring to would fall under the commercial incentive program and this is why we want to increase it from 900,000 to 1.5 million yeah cuz yeah nowadays wait a minute so 900,000 is the incentive for commercial yes fr the city I'm just trying to be can can we is there a percentage is that the entire city or is there a percentage per District that's CRA wide with excluding Northwest 7 never mind okay so we good well we're not good I I know time is of the essence so I think we should just jump to where you tell us and direct us on how to allocate the loan funding cuz we must have that direction today please is nothing so where are you looking at the proposed new offering is that where you're telling us go ahead let's um yeah let's go to the slide going up yes there we go yes as of right now for the 47 m792 294 uh we have have 17 million for rck spark 5 million for the um Scott gin Center Scott galin Center uh and then we have $2,792 $2 uh $4 available that we need to allocate this um tonight okay and what is Staff proposing so staff among all the different ideas of course there is money for mixed use development land acquisition multif family rehab and and those those are the areas that we're hoping that you could allocate amongst again you don't need to name a property today like the development you want to fund but just seeing an allocation for that yes um so oh sorry yeah so what I I what I obviously I think we all agree here that housing is a priority so so when it comes to mixed development and multif family home I would I would suggest that we put you know 70% no's no she's just saying 25 million affordable housing right so yeah affordable affordable housing um so that's a mixed use development and multif family rehab M family I would I would I would say that I would say 70% of the funding should go to that and 30 and then 30% go to L and L and acquisition okay so should we do 10 million 10 million and 5 million for land acquisition is what you're saying that Ma also if I me if I may also um in um District 4 we have um two uh major project that we don't talk we don't talked about them um I have um Redwood and um Integra um they've been like um they could be among the multiuse tonight I don't I really want to focus on the allocation and then at a future date we can say who who gets that allocation but just for budgetary purposes tonight without getting into all of that details I want to be able I'm hoping the board will provide us that and then at a future meeting we can get the name 10 10 105 10 10 so five is so let's 10 million for mix use development 10 million for multif family rehab and 5 million for land acquisition acquisition may we propose 10 um the switching land acquisition and multif family rehab right so because the multi family rehab I didn't hear you may we may staff propose doing the allocation of 5 million towards multif family rehab and then the 10 towards the land acquisition that's a lot for land acquisition yeah real estate prices are not we can also continue with the multif family throughout the once we are in a better place which we can show you in a few slides we will be in a better place 2 years from now 3 years from now within our budget find some favorable land acis sites you can redirect could do that but 10 million off the bat for multif family may be high is what staff is Right trying to indicate so you you know I feel about multi um with because only multi family is like for me I granted I know this is something that when we're trying to address affordable housing this is probably the quicker way to address it by going in and rehabbing what's exist what's already there and that's the area where the most slum and blight is um if we can just be honest so my thing is the more we can and you know work with those slum Lords um we can create quicker affordable housing by fixing up those areas that already blighted so so here's what I would propose and and and so just leave it as is if there is a land acquisition that we're going to that we need come just come back to us AG so you know so we can just keep keep I think yeah I think the 10 10 105 are makes sense 10 105 okay all right let's continue okay um we do want to ahead where you want to be um yeah keep going now okay the fivey year Revenue um go back up okay uh for the fiveyear revenue forecast uh this is where this is what the future is going to look like for us um there is an increase from every year uh we will be going from Total revenues 22 million to next year we're looking we are looking at 20 27 million and the following year 28 million 31 million we will be in the green following starting next year because we are done with the gardens residence payment uh the Griffin estate the Griffin estate um payment which we did over two fiscal years these are projects that we're closing coming off our books the only two projects we have coming out of our operating budgets the follow the next three two fiscal years are going to be a lore and uh resen n residences to which with Nomi residences we have a payment schedule of 2 million we already did one payment this year and then we have three more for 2 million each so Mr chair if you would allow me while we're while we're talking about this um I I just want to highlight and for us to be mindful when we're dealing with developers and anyone coming for us like in the beginning you've mentioned that uh we have about 408 units and only 44 of them were affordable that's 10% yes I I I I find that to be a low Mark for CRA I think we should be more closer to 20% and making sure that we are providing affordable housing you know so that I I I think that's extreme I think a lot of developer get the point now but it's extremely important and St one wholeheartedly agrees that we we we meet that Mark because Ami staff completely agrees with um the residences that know me instead of 10% we're getting 22% excellent um and RAR and it's not only 80% Ami we're doing 60 to um 50 to 60 60 to 70 70 to 80 which we do get a break down as well that EXC and these are the things that we have been working on in District three well I'm just saying the first one was n me residency that was me sorry C wide we're doing really really well I I really worked with David on that one he had to do more okay um last slide okay and so just as a taste of what our you can see um coming before you for approval in fiscal year 25 some new offerings are of course embarking in land acquisition launching armal multif family rehab program we would also like to Pilot a single family home builder program pilot a tenant owner commercial program Implement a construction workers training program and begin improvements on the West Dixie Corridor of course we want to continue our regular programs and projects which are the residential rehabilitation program commercial grants and infrastructure programs P Pioneer boulevards renovation Liberty Gardens projects and we will continue funding the Erp upgrade to Tyler munus and the maintenance of the nomit trys along 7 Avenue we would like to start um doing the streetcape and facade Improvement um doing some land acquisition hopefully and introducing a small business Workshop thank you all righty move to a Jour second you have ation any um any reports no reports oh well just one thing everybody did receive a packet from um staff with your submissions from the property disposal guidelines we did put that out earlier this year we did receive the submissions and now they are with the board for your rankings and review how many did you guys received we received nine seven of which met the guidelines which you have received okay your know we were ranking I was under the impression is the executive direct was it we had to do it I I thought we were going to do a lottery and just get out of our get move um no no no we got to do Public public um open up for public comment mike always put him on the spot I know he's always in the back oh is that um what's his name in the back the museum the Gio anything no no good now that we don't have the party anymore glasses I just came from a trip and I had to wear them okay you okay yeah thank you I'm fine thank you uh yeah I'm glad I'm here I'm actually here for Hispanic heritage and also the CRA and your name for the record and yes hello everyone my name is geod 12500 Northeast uh 4th Avenue amongst a few other places but that's a copper Bridge Foundation Building in in District 3 and I just want to thank you I just received my last reimbursement of um based on our project that we finished it took two years but it's uh it's a beauty and uh now we're looking at hopefully funding for uh programming uh but the site is beautiful and we're about to finish our um Garden um uh art installation which should be ready in about a month uh uh to five weeks which will host seven uh International artist structures within the um uh garden and it's over to the public we're making sure that it's accessible to everyone we're inclusive not exclusive so thank you very very much that thank you so very much and God bless you um in public hearing is closed um and a motion to adjourn second I have a motion made by chairman desel made to adjourn seconded by board member Charles all in favor I all opposed adjournment at 6:23 p.m. you