ECONOMY INTERVIEW
Taking action Broward County’s capital improvement projects continue unabated
Monica Cepero Deputy County Administrator – Broward County In terms of infrastructure, what initiatives will improve mobility and economic development? During the pandemic, Broward County continued our large capital improvement projects. In addition to projects funded by the transportation surtax, the county is advancing a $1.6 billion infrastructure investment at Port Everglades with Phase 1 projects expected to be completed in the next five years. There is an International Logistics Center, which is a public-private partnership, and new Super Post-Panamax gantry cranes for larger cargo. There is also a new parking garage for Terminals 2 and 4, which will help with increasing demand as we bring everything back online. We are pouring about $100 million in construction into our cities in the near future. Broward County’s Public Transportation System (BCT), as a result of the new transportation surtax, has begun extensive upgrades and modernization to the transportation network. BCT recently placed into service 147 new transit buses. Another 35 buses are on order, which will allow us to further increase our service to the public. Broward County is also working closely with Miami-Dade County and a private railroad owner to introduce commuter passenger train service between the two counties along the eastern borders. Eventual plans call for the system to expand into Palm Beach County to our north. How is the county ensuring that affordable housing remains attainable for lower-income demographics? The two things that keep me awake at night are the availability of affordable housing and the presence of a solid and robust transportation system. The Broward County Commission has been a champion on establishing policy that prioritizes affordable housing. Half of employees in Broward County are in the services industries and are earning substantially less than the Area Median Income. At the same time, housing prices
and rental rates are at an all-time high. The County Commission is one of the few local governments in the State that is allocating General Fund dollars for gap financing for new affordable rental housing. Our Housing Finance Authority is also issuing tax exempt and tax credit bonds that provide a significant source of financing. In addition, this year the County Commission approved countywide land-use plan changes that allow market rate housing in all commercial land use, which includes the older commercial corridors and outdated shopping centers. In exchange for this development opportunity, developers are required to provide specific amounts of affordable housing as a component of new development. We will continue to look for new funding resources and incentives to increase production and availability of affordable housing. www.capitalanalyticsassociates.com
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