The Elkmont Park Community Redevelopment Agency (CRA) is experiencing rapid growth, outpacing the overall city, which saw a 14.26% increase in its property tax base from 2023 to 2024. This growth is attributed to targeted investments and revitalization policies aimed at enhancing the area. New businesses are opening, including Bushwick Lounge and El Pastaio Pizzeria, which recently underwent renovations. The community is also anticipating the opening of several other establishments, such as the Satellite Pinball Lounge and the Ethiopian restaurant, Red Sea.

A significant focus of the meeting was the Sky Building, which is set to become the new City Hall. Developers are actively seeking commercial tenants and offering build-out incentives to attract them. The CRA plans to convert its financial commitment into an employment support program, aimed at fostering job creation within the CRA.

The meeting also highlighted the importance of special events in driving economic development. The upcoming Oakland Park Art Walk and the Wonderland Pride event were discussed as opportunities to support local businesses and enhance community engagement.

Additionally, the CRA is expanding its Business Incentive Grant Program to include adjacent areas to Qualified Census Tracts (QCTs), which are economically underperforming regions designated by HUD. This program aims to provide funding for permanent exterior improvements to businesses in these areas, with grants of up to $20,000 available.

The CRA's efforts are designed to leverage existing resources and maximize support for local businesses, particularly those in need of working capital. The agency encourages businesses to join its newsletter for updates on available resources and programs.

Overall, the meeting underscored the CRA's commitment to sustainable economic development and community revitalization, with a focus on supporting local businesses and enhancing the quality of life for residents.