Opinion
The State of the Downtown Neighborhood
Eileen Higgins, Miami-Dade County Commissioner, District 5, provides a clear assessment and essential solutions.
Since March, our community has been challenged in ways we never thought possible. As neighbors, we sheltered at home and put a pin in everything we love about living in Downtown Miami. As we reopen under a new normal way of living, I am certain that our community will be stronger and better than ever. And while I will continue to help those struggling with unemployment and food insecurity, now is the time to take the opportunity the crisis has brought to do things differently and improve our quality of life.
In the midst of the global pandemic, our Country’s inequalities have been brought to the forefront. In the wake of the horrific murder of Mr. George Floyd people across the U.S. are rising up against police brutality. It’s been hard to put into words the deep sadness I feel towards the continued senseless violence against communities of color. Peaceful protests have taken over our streets the last few weeks, and witnessing the unity in the fight for justice has brought me hope during these difficult days.
But that sense of hope was tested as I walked Downtown and saw the senseless destruction of businesses just days after reopening. It’s not enough to help our businesses recover — we have to address the inequities baked into our institutions and systems at the same time. The stark relief of peaceful protests and broken glass on our downtown streets made this more clear to me. As your County Commissioner, there is action that I can take to move the needle on both.
And progress is already being made
This month, the Miami-Dade Board of County Commissioners approved my legislation to create the RISE (Re-Investing in our Small Business Economy) Miami-Dade Fund, a transformative revolving loan fund for small businesses in Miami-Dade County with initial seed funding of $25 million.
When thinking about the corner stores on Flagler Street, the local Jeweler on 2nd Avenue that’s been there forever, and the lunch spots on Avenue 3 that have become staples not only to residents but those who commute to Downtown for work every day, one word comes to mind. Community. These businesses — and ones like it around Miami-Dade County — are what bring people together. They make our neighborhoods special while also being the drivers of our local economy.
The RISE Miami-Dade Fund is the first of its kind that will help small businesses weather the COVID-19 crisis, and continue to build the local business ecosystem into the future.
Let’s face it — long before Coronavirus, the Mom and Pops in Downtown faced challenges. I have heard directly from them how the COVID-19 pandemic has put an incredible, and disproportionate, strain on their businesses. Many don’t have the resources or technical and financial support required to emerge from the shutdown.
A real fund for real people
This Fund would not be possible without the partnership of dedicated Community Development Financial Institutions (CDFIs). Businesses of this size are often unable to access the kind of capital and lending opportunities that larger businesses can more easily attract. That’s where the RISE Miami-Dade Fund differs from the other relief programs available to small businesses — by bringing together the lenders committed and experienced to helping businesses of this size, we will be able to connect them with the help they truly need to recover and move forward.
The creation of the RISE Miami-Dade Fund is historical, and I am appreciative of my colleagues for their unanimous support. We are hoping to begin accepting applications later this month, and the first loans should be distributed shortly after.
Eileen Higgins is the Miami-Dade Commissioner for District 5, which includes Downtown Miami.
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