CRA staff reports $57.6M in in-progress awards, majority allocated to mixed-use affordable housing

CRA staff presented a financial update to the Northwest Provenceo of Flagler Heights Redevelopment Advisory Board on Feb. 10, outlining current in-progress awards, historical reinvestment and allocation by project type.

Staff reported roughly $57.6 million currently in-progress, about $2.5 million spent to date, and an outstanding in-progress amount of roughly $55.1 million. Over the past nine years, staff said the CRA has reinvested about $127 million in the district.

On allocation, staff said approximately 80% of in-progress funds are committed to mixed-use affordable housing projects, with smaller shares for other housing, commercial uses (about 9%) and restaurants (about 4%). Health-related projects received about 7% of in-progress allocations; when asked, staff said "Optimal Pharmacy" is categorized under health.

Staff described a triage of priorities: high-priority projects (many not yet started) are being actively monitored and staff is scheduling vendor meetings and timelines; medium-priority projects are typically in progress. Board members asked for clarification on specific projects; staff referenced a recently approved $4.75 million award (approved in January) and said the board would see deeper budget review at a later meeting.

Next steps: staff will provide a more detailed financial analysis and timeline for awards that have not yet started, including disbursement schedules and vendor engagement plans.

"This is just a clear view, transparency of where we are with our in-progress projects," staff said.