Trust reports acquisitions, Blue Village and La Quinta progress; Bezos funds earmarked for family housing

Trust staff provided a multi-project update covering recent acquisitions, development progress and funding for family housing.

Key items reported: - An 8-unit property in the City of Miami: the Board of County Commissioners approved acquisition; closing date pending while underwriters review. Staff said the property is move-in ready with a provider identified and only minor air-conditioning work remaining. Staff projected the site could be open and operating by the next board meeting. - Blue Village (Chrome site, near the detention center): design drawings reported as roughly 50–90% complete (staff gave a range), with permitting expected in late March/early April and construction potentially starting in October. The facility is planned to have approximately 111 beds, with a revised price tag of $10,000,000; staff said $6,500,000 has been set aside from the mayor’s homes plan and general-obligation bond funding, and additional funds will be sought to cover the gap. - La Quinta (acquired via provider New Hope): staff reported a certificate of use for the facility and food service; proposals for kitchen work and minor finishing (flooring, baseboards) are in progress and New Hope is on site daily. - Bezos Day One Family Fund: staff said the trust currently holds $1,500,000 from Bezos Day One Family Fund specifically earmarked to identify or acquire modest properties for families with minor children (two or more bedrooms preferred). Staff said they are pursuing supplemental state and federal earmarks and expect to leverage the funds. - Tiny homes: staff reported ongoing evaluation of tiny-home models and noted product-approval challenges in high-velocity hurricane zones and testing costs.

Why it matters: the updates reflect the trust’s pipeline to expand short-term navigation capacity and permanent supportive housing, including targeted family housing funded by philanthropy. Staff emphasized the need for vacant or on/off-market properties suitable for retrofit or hotel conversions and said they will prioritize properties that do not displace existing low-income residents.

Next steps: staff will continue underwriter and closing work on the 8-unit property, move Blue Village toward permitting and identify additional capital for that project, and finalize La Quinta kitchen and finishing work. The Bezos funds will be applied to small family-oriented acquisitions (minimum two-bedroom preference).

Limitations: specific closing dates and certain funding sources were not finalized; staff noted some figures were estimates and that additional funding requests to the state and federal levels are pending.