| | | | | | | |  | Committee Assignments - C4 L
COMMISSION MEMORANDUM |
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| | | | | | | | | TO: | Honorable Mayor and Members of the City Commission | | | FROM: | Vice-Mayor Ricky Arriola | | | DATE: | April 28, 2023 | | | |
| | SUBJECT: | REFERRAL TO THE FINANCE AND ECONOMIC RESILIENCY COMMITTEE TO DISCUSS THE MISMANAGEMENT OF THE MIAMI BEACH COMMUNITY DEVELOPMENT CORPORATION. |
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| | | | | | | | ANALYSIS
| | I ask that the Finance and Economic Resiliency Committee discuss the mismanagement of the Miami Beach Community Development Corporation (MBCDC). The MBCDC has struggled to maintain and provide affordable housing for low-income and elderly residents. The attached article by the Miami Herald details how the nonprofit's 16 buildings, containing 357 income-restricted units, will be transferred to Miami-Dade County due to financial woes and sanitation and maintenance complaints over the years. This move will ensure that the buildings' affordability is maintained, but as the Miami Herald notes, it highlights the nonprofit's history of irregularities and financial mismanagement, including misspent funds and offloading of assets, which have subtracted from the city's affordable housing stock. This situation calls for a thorough review of the Community Development Corporation's management practices to prevent similar issues in the future with nonprofits that receive municipal assistance and to ensure that Miami Beach meets its affordable housing goals with the right partners. |
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| | | | | | | | SUPPORTING SURVEY DATA
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| | | | | | | | FINANCIAL INFORMATION
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| | | | | | | | | Is this a "Residents Right to Know" item, pursuant to City Code Section 2-14? | | Does this item utilize G.O. Bond Funds? | | | Yes | | No | |
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| | | | | | | | Strategic Connection
| | Mobility - Increase housing options for current and future residents. |
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| | | | | | | | Legislative Tracking
Vice-Mayor Ricky Arriola |
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