Pompano Beach CRA presents FY2026 budgets for East and Northwest districts, discusses bonds, McNabb House and downtown financing

Kimberly Vasquez, CRA project manager, presented the Pompano Beach proposed FY2026 budgets and financing/implementation plans for the East and Northwest Community Redevelopment Agency districts at the July 15 meeting.

Vasquez said the East budget reflects substantial new-construction value and proposed redevelopment spending; she described a proposed tax-increment bond and listed major uses including redevelopment projects and debt service. For the East she said the McNabb House and Garden project is budgeted at $27,000,000.

For the Northwest Vasquez said the district’s certified value was about $2.2 billion, with growth of roughly 16% and $125 million in new construction. She presented a proposed financing plan that includes tax-increment revenue and a proposed FY2026 bond series (presented as part of a two-phase infrastructure financing plan also showing a 2028 bond). Vasquez said the Northwest proposed sources total about $58.9 million with redevelopment projects and downtown infrastructure among the largest expenditures.

Public commenters asked questions about the bond designs and timing. Dominic Lewis asked whether interest rates were known and when bonds would be issued. Vasquez and other staff said issuance timing would require further approvals and that bond issuance is an action the CRA board and commission must approve.

Public commenter Ed Phillips urged the CRA to reduce or eliminate reimbursement-only rules that require small-business owners to front renovation costs; he recommended minimizing reimbursable models because many small operators cannot advance large sums. Phillips also suggested more flexible or relaxed credit criteria and longer timelines to help small businesses participate.

Commissioners pressed staff on a range of issues: how many applications for Northwest incentive programs the CRA receives per year (staff said zero last year, three the prior year); whether the CRA can pay contractors directly (staff confirmed they can and are doing so for one applicant); and how to increase outreach beyond social media (staff said a full-time coordinator is doing field outreach and a monthly newsletter exists). Commissioners asked about the size and timing of proposed bond issues, and whether the city has a plan if state legislation limits CRA bonding. Assistant City Manager Suzette Sybil and CRA counsel Miss McKenna said staff were monitoring legislative developments and that alternate financing (pay-as-you-go or private financing) could lengthen project timelines and raise escalation risk.

Vice Mayor and others pressed staff for more detail on carry-forward balances, property acquisitions, and how CRA funds could be used for neighborhood-focused projects (e.g., streetscapes, Wi‑Fi pilots, or additional safety cameras). Miss McKenna said some neighborhood projects could be eligible if they fit the CRA statute’s eligible-activity list (bricks-and-mortar investments); social services are not eligible under the current trust-fund statute language.

Suzette Sybil described the debt-service and coverage work staff and the financial adviser had prepared for bond planning and cautioned that final market terms won’t be known until staff go to market. She said the CRA had modeled coverage and reserves with its financial adviser but would present bond issuance for commission approval before sale.

Several commissioners also asked for detail about property acquisitions and appraisals. Miss McKenna said the city and CRA follow municipal property-acquisition processes and that certain appraisal requirements apply only when an entity seeks a public-records exemption; otherwise appraisals are not automatically required by that statutory provision discussed at the meeting.

Staff said the draft FY2026 budgets will return for final approval on September 16, 2025. No final budget approvals or bond authorizations were made at the July 15 meeting.