CRA approves forgivable-loan increases for mixed-use affordable housing and a small business

The Fort Lauderdale Community Redevelopment Agency board met after the conference meeting and approved two loan increases under the Property and Business Improvement Program.

The board approved a second forgivable-loan increase of $475,000 to VNR Family Enterprises to complete rehabilitation of a 67-year-old mixed-use building that will provide a banquet hall, office and kitchen on the first floor and five affordable rental units on the second floor (four units at 80% AMI and one at 30% AMI). Staff had considered extending the affordability term to 30 years when seeking additional funds but recommended a shorter period given the small unit count; the commission settled on a 15-year affordability period for the five units as an amendment during the discussion. Staff said the developer contributes roughly 23% of project costs (about $369,000), above program minimums.

The board also approved a $26,800 increase to Pleasant Image Distributing Inc.'s forgivable loan, bringing its total to $124,900.

Both items passed unanimous roll-call votes. The board approved meeting minutes for the December 16, 2025 CRA board meeting as well.