The meeting was called to order at 6:10 PM. All members were present except Mr. Martinez. The board approved the minutes from the January 26, 2026 meeting unanimously.
We're good. Yeah, we're good to go. Thank you. All right. Good evening, everyone, everybody. I want to call to order the Forever Bond Citizens Oversight Board meeting. Um it's uh 610. So we're only missing uh Mr. Martinez this evening, but everyone else is in attendance. Okay. Um the minutes from the previous meeting were already distributed from the January 26, 2026 meeting. If you all have had a chance to look at them, may I have a motion to approve the minutes? So moved. Second. Second. All in favor. Aye. Aye. They're approved. Thank you. So old business updates on previously requested items. I would like to thank uh Mr. Gabriel for providing all of these wonderful large sheets that we can read without a magnifying glass. Thank you for providing this materials first tonight. Thank you. At this time, uh open the floor for any public comments. Hearing none, move on to uh our new business and the overall status and expenditures report. Um good evening. This is Gabriel Breto, C P budget for coordinators for the city of Miami. Um just as a recap of the the last meeting. Since our last meeting, we've allocated 20 million five hundred and thirty-nine million dollars from the public benefits. Um I'm sorry, public safety category and the um uh roadways category, and you'll see under the public safety and roadways category. We have uh notated that right under the total issued amount. So you'll see five million five ninety. So that's currently pending issuance, but it's been allocated through official intent, and right under that, pointing to the roadways category, the top number 757 million five ninety was what had been issued, and the remaining amount is 14,949, and that's pending issuance. Um and then proceeding to affordable housing component as of this as of today's date, 92 million seven eighty-four has been allocated through official tenth, and about five point one million remains unallocated. So on the next slide, you'll see a summary of the expenditures to date on the left box on the leftmost box. See as of today's date, we've actually spent 120 million of the overall bond with 47 million housing, 30 million uh through 30.3 million from parks, uh 341 from public safety, 6.8 million from roadways, and 36 million from sea lower rise flood prevention. And that will sum up to a change of 8.6 million from the last bond board meeting held. Um and just to give you uh um background on that, you'll see from the last Bond War meeting. We roughly had spent about the same amount, 8.5 million dollars. On the top right corner, you have the actual expenses against uh the bond. So that's a comparison between the 120 million actual expenses and the 400 million dollars of the Mammy Forever bond uh referendum, and then on the bottom right corner, you have the total allocated by official intent, and includes the issued amount and official intent totals for a total of 386 million 365. So the 386 is what has been allocated in totality of the 400 million dollars as of today's date. And between encumbrances and the actual expense, meaning active contracts that have been encumbered, the total committed amount is 208 million dollars 906. So roughly 54% of the $386 million allocation. So on the next slide, we just wanted to revisit uh uh same slide from from last meeting. We wanted to go over and make sure that there's understanding of the structure of the financial projections, and uh just as a recap on the color key of the spreadsheets that you that you received. Anything that any cell that you see that's orange would denote the anticipated month, the 85% of the project bond funding is expended. Blue would denote three year the three-year time frame or point in time from the date of issuance, and the green cell would denote the five-year time frame from the date of issuance.