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CRA staff reports modest TIF increase, new vetting process and an uptick in projected affordable housing units
Summary
CRA staff told the Fort Lauderdale advisory board the tax-increment projection rose 4.8% from adopted 2026 to preliminary 2027 and reported updated allocations and an increase in projected affordable housing units to 932; staff said it has created a vetting sheet and will share criteria with the board.
CRA staff presented a budget and program update to the advisory board, reporting a preliminary 4.8% change in tax-increment funds from the adopted 2026 figures to the preliminary 2027 projection and outlining incentive and budget allocations for fiscal year 2027.
"For the tax increment, we're only receiving tax increment dollars from the city of Fort Lauderdale, and we do see a change of 4.8% from the adoptable 2026 to the preliminary 2027," said the CRA staff presenter. Staff said the FY27 incentives projection includes approximately $6,198,996 in allocations and that roughly $3,800,000 is being placed into the incentive bucket for the coming fiscal year. Staff also reported locating approximately $5,900,000 in FY25 funds that can be redirected to projects in the Northwest area.
On affordable housing, staff corrected a previous figure and said projected affordable units increased to about 932 units after adjustments to the calculation. "So that's great news because the affordable housing units increased to about 932 units," staff told the board.
Several board members urged clearer data and more frequent reporting. "If we don't have accurate data, we're spinning our tires," said Donald Van Beech, asking staff to share the vetting criteria and a public guide for how retail tenants and developers are analyzed. Staff said they have a vetting sheet in place, and the chair suggested the board discuss vetting and contingency standards at the next meeting.
Procurement for Provinc Park was also discussed: staff said the park project has design, artist and construction components and that the art-selection process is being formalized with the city attorney, procurement department and the office of cultural affairs; staff will present a recommended procurement approach when available.
What’s next: Staff will share the vetting sheet and sources-and-uses breakdowns at the beginning of the next meeting and will return with the financial documentation requested regarding the two tabled projects.
