Michelle Gomez Mayor City of Tamarac
How is the city maximizing funds in the new postCOVID landscape? The city is very strategic in managing finances and we’ve been very prudent with our budget and the funds we’ve received through the CARES ACT. Our approved budget went into effect on Oct. 1, 2020. We were able to cut about $13 million and come to a budget that is about 7% less compared to our 2019 budget, totaling $184 million. Due to the pandemic, we are keeping our operation on a lighter scale for the next fiscal year, maintaining funding for critical initiatives, including the capital projects that are necessary and those that already are in the works. Fortunately, our city is in good shape. We have always invested resources into our infrastructure. Our planned maintenance, particularly for our water and wastewater systems, remains unchanged. How is the city working to maintain affordable housing? Affordable housing is a real concern in South Florida. While we are considered one of the premier cities in Broward County for our affordable housing stock, we’re looking to adopt policies that incentivize the provision of affordable housing because of its critical need. For example, we recently conducted an affordable housing fee study. When it is adopted, the city will provide incentives to developers for even more affordable housing opportunities via the payment of linkage fees and inclusionary housing options. I’m on the Executive Board and a member of the Broward County Planning Council and the Chair of the County’s Affordable Housing Committee, where we discuss some of the county-level initiatives. While the city uses developer’s contributions to fund the first- time homebuyer program, the key issue we need assistance with is unlocking our state Sadowski Affordable Housing Trust Fund. Unfortunately, most of the funds from the Trust have been traditionally utilized for other things rather than what we need it for – to inject resources to expand rehab projects for homes and for the expansion of the first-time homebuyer program. 18
| Invest: Greater Fort Lauderdale 2021 | ECONOMY
Broward County’s Department of Fire Rescue and Emergency Services has over 700 personnel ready to assist residents when needed.
( ) these services and that is where the private sector is stepping in. Housing developer Greystone announced in November that it would provide a $20 million HUD-insured loan to refinance a 244-unit affordable housing unit in Pembroke Park. The development has 17 two-story garden-style apartments and 244 incomerestricted one-, two- and three-bedroom units. Recovery and growth Although Broward County’s population growth has slowed in recent years, there has been a steady inflow of new residents. As of 2021, the population stands at just under 2 million people, a 0.34% increase on the previous year. There is a large labor force of over 1 million people across the county and after COVID-19 plunged many jobs into uncertainty, authorities took action to mitigate impacts to the community as GDP shrank by more than 35% across the county. Broward County’s GDP fell by 38%, or $11 billion in the second quarter of 2020. Ensuring a pipeline of talent will then be a key element in the recovery as jobs continue to come back. Partnerships with the academic ecosystem is vital.
