WEEK OF THURSDAY, MARCH 24, 2016
A Singular Voice in an Evolving City
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BANKING & FINANCE
Election spurring trepidation in financial planning, pg. 14 WORLDCENTER VOTE: Miami commissioners accepted a final plat of Miami World Center Plat 2 from Miami First LLC, Miami Third LLC, Miami Fourth LLC and Miami A/I LLC. The vote authorizes the city manager to execute and record related documents with the county. The land – between North Miami Avenue and Northeast First Avenue, and between Northeast Eighth Street and the Florida East Coast Railway right-of-way – is a major portion of the sweeping mixed-use Miami Worldcenter rising in Park West. The action replats 209,564 square feet, or 4.81 acres, in order to close the right-ofway of Northeast Seventh Street within the plat and to create one contiguous tract for development. The Plat and Street Committee, composed of the city’s departments of public works, planning, building, office of zoning, police, fire-rescue and solid waste, with representation of the law department, determined the plat conforms to subdivision regulations and Miami 21 zoning.
Soft condos, strong dollar under Fed scrutiny, pg. 15
THE ACHIEVER
BY JOHN CHARLES ROBBINS
MORE PARK LAND: The Coral Way neighborhood will get a new pocket park after Miami commissioners agreed to buy a 6,900-square-foot lot at 2601 SW 13th St. from the Federal National Mortgage Association and spend up to $280,000 for the land, a survey, an environmental report, title insurance and related closing costs. The legislation says the city plans a park there to enhance the quality of life in the surrounding area. The land is about three lots east of Southwest 27th Avenue. Commissioner Francis Suarez advanced the land buy in his initiative to add more park space to District Four, which he represents. He said as the city becomes more urban, setting aside open space and park land becomes more important. OFFICE RENTS, ABSORPTION UP: Miami-Dade ended the fourth quarter of 2015 with a 10.1% office vacancy, down from the prior quarter, with 436,524 square feet absorbed, according to NAI Miami’s most recent report. Vacant sublease space dropped to 169,971 square feet. Average rents were $31.20, up from the third quarter. Three buildings opened totaling 36,020 square feet, with 1,234,259 square feet still under construction. Net absorption compared with 455,414 square feet in the third quarter, 410,752 in the second and 54,588 in the first quarter. Office vacancies dipped from 10.6% at the end of the third quarter, 10.9% at the end of the second and 11.5% at the end of the first. Class-A projects reported a vacancy of 12.6%, Class-B’s at 11.1% and Class-C at 5.8%. The average quoted asking rent for available office space, all classes, was a 0.9% increase from the end of the third quarter, when rents were reported at $30.91 per square foot.
Photo by Marlene Quaroni
Juan Acosta
Consolidates Viacom productions in new Miami studio The profile is on Page 4
Two more projects to share development grants BY SUSAN D ANSEYAR
County staff is starting to negotiate with the next two projects in line to share in $75 million of Economic Development Fund grants as projects ahead of them failed to qualify for the money. Downtown Palmetto Bay Development, first in line for re-allocated grants geared to create jobs, and Project Mercy Neuroscience Center, second, won approval for $7.5 million each, pending negotiations. Proposed changes for earlier grantees of projects considered extraordinary in local economic and job development, which result from objections by most of them, wouldn’t alter the intent of the voter-approved Building Better Communities General Obligation Bond program, said Leland Salomon, Department of Regulatory and Economic Resources deputy director. One change is payment of grants in six equal disbursements rather than a lump sum. Another would allow two jobs classifications: direct and indirect. Each job is defined as a permanent, full-time equivalent position requiring 36 hours weekly.
AGENDA
3 big deals offer hotel, residences
Budgets, plans and specifications are now required for all infrastructure projects as well as proof of ongoing ownership and/or control over improvements. Three of the eight development projects already approved for the grant funds – Miami Wilds, River Landing and Carrie Meek International Park – have informed the county they are ready to proceed but require additional time. Miami Wilds, in line for a $13.5 million grant, must secure site control and is currently negotiating a lease. Carrie Meek International Park, slated for a $13.5 million grant, is negotiating a new development on the property that could change the project description and jobs requirement. River Landing, approved for $7.5 million, had a problem with mortgage financing and a lien was placed on the property. According to Mr. Salomon, the issue has been solved but the county is waiting for documents to be filed before going forward. The other projects already approved to negotiate for portions of the $75 million are Westview Business Park ($7.5 million), Orion Jet ($5 million), Skyrise ($9 million),
Three major mixed-use projects have won a thumbs up from the city’s Urban Development Review Board in Brickell, Flagler Street and the Wynwood Arts District. Combined, they would create more than 200 hotel rooms and more than 650 residences. Cambria Brickell, at 145 SW 12th St., is to bring 204 hotel rooms and a restaurant connected to Southside Park. Developer CS Brickell Hotel LLC proposes a public-private partnership that would sink money into the city park for improvements and perhaps a looped walking trail. A representative said the company is talking with city officials about a partnership. The developer is considering spending more than $400,000 to improve the park, which is undergoing environmental remediation. The site is at the foot of the Brickell Metrorail Station, which is being considered as the start of The Underline urban linear trail. 54 West Flagler Street includes two 43-story towers with a hanging garden in-between. The project is to include about 391 residences, more than 6,600 square feet of retail and a garage to park about 185 vehicles. Wynwood Square, a mixeduse development at 2201 N Miami Ave., includes a 12-story structure with 267 residences, 26,000 square feet of groundfloor retail, 55,000 square feet of offices and a 500-car garage. The developer is One Real Estate Investment LLC. Jeronimo E. Hirschfeld Sr. is the agent. Representatives said this will be the first new construction in Wynwood in years. The heart of Wynwood is the reuse of old warehouses, adorned with street art. Wynwood Square earned the backing of a new advisory body, the Wynwood Design Review Committee. It’s part of a new zoning overlay, Neighborhood Revitalization District-1.
Larkin Health Center ($5 million) and Overtown Gateway ($6 million). These are under Economic Development Fund Project 124, with a total allocation of $58.5 million. That doesn’t include $6 million granted to the City of Miami for the renovation of Flagler Street downtown, $500,000 that hasn’t yet been rescinded for Aviation Corporate Hanger (which didn’t respond to the county’s original grant agreement) or $10 million for Miami Ocean Studios that the county commission voted March 8 to rescind. There are six approved developments under negotiation for Economic Development Fund Project 320, money aimed at supporting projects in targeted urban areas. These include Urban Health and Wellness Group for $2.8 million, Sunshine Plaza 79/ Miami Merchant Mart for $2 million, Miami Design District NE Second Avenue for $2 million, Wynwood Plaza for $3 million, Seventh Avenue Transit Village for $2 million and South Dade Multi-Modal Trans- Wynwood Square first to take portation for $1.5 million, which the comadvantage of new zoning, pg. 11 mission approved March 8.
STUDY DIGS INTO A BRICKELL-DOWNTOWN TUNNEL ...
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1.5 MILLION PHOTOS AWAIT HISTORY RESEARCHERS ...
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DOWNTOWN TEAM LOOKS AT ADDING BOAT DOCKS ...
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DESPITE ECONOMY, BRAZILIAN TOURISM STILL TOPS ...
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VIEWPOINT: LEADERS VITAL ON CONVENTION HOTEL ...
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RED-LIGHT CAMERA: LIFESAVER OR MONEYMAKER? ...
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OMNI REDEVELOPMENT FOCUS, DIRECTOR CHANGING ...
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NORTHEAST MAYORS TACKLING CLIMATE, MOBILITY ...
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TODAY’S NEWS
MIAMI TODAY
WEEK OF THURSDAY, MARCH 24, 2016
THE INSIDER ELDERLY HOUSING SITES: Seventeen sites owned by Miami-Dade County are suitable for the development of elderly affordable housing and are to be designated as surplus for that purpose, a report this week from Mayor Carlos Gimenez to county commissioners revealed. The commission had asked for the report last October. All of the sites are at least one acre except for some in the City of Miami, and none is needed by the county, the mayor said. The county’s Public Housing and Community Development Department, he wrote, will analyze each site to see how many units can be accommodated and whether the sites would require improvements to infrastructure for housing use. PLANNING TRANSPORTATION: Gov. Rick Scott has appointed Medley Mayor Roberto Martell to the 23-member governing board of the Metropolitan Planning Organization, which is the authority for local transportation planning. He is a Florida general contractor and president of Martell Consulting Group Inc. He was elected to the Town of Medley council in 2008 and became mayor in 2012.
Photo by Maxine Usdan
AIRPORT RECYCLING: A recycling program for A tunnel now being studied could alleviate traffic backups caused by multiple Brickell Bridge openings. Miami International Airport passengers begun last Roberto Martell year cost $245,000 to set up and $20,000 a year to operate, a report from Mayor Carlos Gimenez to commissioners says. Some 6,000 36-gallon containers throughout the concourses and at security checkpoints were retrofitted for separation of recycled cans and BY CATHERINE LACKNER department and the Coast Guard when the matter came before bottles, paper and regular waste. Overall, from June to October the airport over what the authority says are the planning group. collected more than 106 tons of bottles, paper and cans, and 247 tons of “Obviously, nine years later, improper bridge openings that The oft-discussed idea of recycled cardboard, the report said.
Brickell tunnel’s underground study boring a tunnel beneath the Mi- snarl traffic into and out of downtown for long periods. Most openings during restricted times (morning, lunch and afternoon rush hours) are for pleasure craft, authority members “A fully funded study is un- have said. But business interderway to put a tunnel under the ests along the river say the bridge Miami River, but the location is openings are necessary for their unknown,” board member economic survival. Last October, the Miami-Dade Jerome Hollo told fellow direcMetropolitan Planning Organitors. The study will take about a zation agreed to study the feasiyear, said Mr. Hollo, who is bility of a tunnel. Francis Suarez, vice president of Florida East the group’s vice chair and MiCoast Realty. “It’s a big study.” ami commissioner, asked Jesus He did not divulge more details. Guerra, interim executive di“We’re going to try to use rector at the time, to determine information from the tunnel options – including a tunnel – study when we go to the Florida for Brickell. Mr. Guerra was Department of Transportation also asked to evaluate existing and the Coast Guard,” said Alyce research. A March 2006 City of Miami Robertson, authority executive director. “We want to have that study said the tunnel was feasible but that the volume of study in hand.” For years, the authority has traffic didn’t warrant building it battled the state transportation at that time, Mr. Suarez said
PEPPER AWARD WINNERS: Former US Rep. Carrie Meek will ami River to connect downreceive the Lifetime Achievement Award at the town with Brickell surfaced United HomeCare Claude Pepper Award dinner on again last week at a meeting of May 5 at the Hilton Miami Downtown. Attorney Miami’s Downtown DevelopRichard Lehrman will receive Community Builder ment Authority. Award. MARITIME SECURITY: Miami’s Department of Fire-Rescue has entered into a lease with Grand Condominium Association Inc. at 1717 N Bayshore Drive, allowing the city to place maritime radar and Carrie Meek associated communication equipment at the property. It’s part of the South Florida Maritime Security System, funded by the US Department of Homeland Security. The condo has space available on the roof for the equipment. The department can access and use the equipment on a 24-hour basis during the five-year lease at no cost to the city. ENTREPRENEURSHIP CAMP: Miami city commissioners have allocated $13,000 from District Four anti-poverty initiative funds to Venture Hive LLC for a full-time spring break tech entrepreneurship camp at city parks within District Four. The matter was brought by district Commissioner Francis Suarez. The program will train 25 middle school students in technology and entrepreneurship through career and technical education. Participants will be selected from those attending summer camps at city parks within the district. Francis Suarez
REEVES HONORED: To honor Garth C. Reeves for his works, leadership, vision and inspiration, the Miami City Commission approved a resolution codesignating Northwest Sixth Street, from Northwest Seventh Avenue to North Miami Avenue, as Garth C. Reeves Way. The legislation notes that Mr. Reeves was born in Nassau, Bahamas, in 1919 but moved to Miami as a young child. He earned a bachelor’s degree in printing from Florida Agricultural and Mechanical University in 1940 and spent Garth Reeves 46 months as a technical sergeant in the US Army, serving in the European and Pacific Theatres. After the war he went to work with his father at The Miami Times as a reporter, columnist, managing editor, editor and publisher. Mr. Reeves served as organizing chairman of the board for National Industrial Bank, the first integrated bank in Florida, served as president of the bank in 1971, and became vice chairman of the board of directors in 1976 when it was merged into Capital Bank of Miami. ALLEY RATING STRONG: Continued strong traffic and revenue performance on the 78-mile, four-lane Alligator alley linking the MiamiFort Lauderdale areas with Naples has led Fitch Ratings to affirm the ‘A+’ rating for about $30.6 million in Florida Department of Transportation Alligator Alley revenue bonds and offer a stable rating outlook. Average tolls on the stretch are 4.3 cents a mile, which Fitch terms low. Fitch notes a high exposure of the roadway to economic downturns because it carries a higher share of commercial traffic relative to other transportation department owned and operated roads. Debt service payments are due at $3.4 million a year until the bonds mature in 2027. NAMING IN HONOR: Mabel Fentress Miller, who has devoted her life to environmental restoration and education, is been recognized for those efforts. Miami city commissioners in December approved the first reading of an ordinance naming the trail and hammock at Virginia Key Beach North Point Park, 4020 Virginia Beach Drive, as the “Mabel Miller Walking Trail.” The Department of Parks and Recreation recommended the action, saying Mrs. Miller is a former Miami-Dade County Public Schools educator who has devoted her life to restoring Virginia Key to its natural state and preserving both Virginia Key and Key Biscayne. “She tirelessly worked to educate the masses on their importance to the environment. Mrs. Miller was a major advocate and driving force behind the Virginia Key revitalization and the restoration projects that still take place to date,” the ordinance reads. CORRECTION: The name of the SoLe Mia development at 15045 Biscayne Blvd. was misspelled in a March 17 story about commercial real estate investments.
we’ve seen a tremendous amount of density in the Brickell and downtown corridor; I don’t think anyone can argue with that,” he added. “What’s coming in the next five to 10 years is also enormous.” He directed staff members to consider various entrance points to the tunnel and to get input from neighbors and businesses in the area. “This could have a great impact on them. With the tunnel technology we have today, it probably would be better to study not going under existing buildings, but to put the entry points where there are no buildings,” Mr. Suarez said then. “We’d also like to have traffic counts on the current volume of traffic that is moving from Brickell to downtown and back,” he added, “and also how much volume could be alleviated by such a tunnel.”
Downtowners plan what’s up: dock BY CATHERINE LACKNER
In its master plan, Miami’s Downtown Development Authority lists eight goals to “leverage our beautiful and iconic tropical waterfront.” They include completing the Baywalk and Riverwalk pedestrian and bike paths, creating a waterborne transportation system to link downtown with major waterfront destinations, developing a waterfront element where Biscayne Bay meets Flagler Street, enhancing connectivity to Watson Island, improving inland connections to the water, providing a berth for Tall Ships, and redeveloping Bicentennial Park as an international waterfront park and museum complex. But it is unmet goal No. 2.5, “activate waterfront by providing greater daytime dockage opportunities,” that frustrates some authority directors so much that they plan to form a committee to address it. “Multiple board members always bring up the fact that there is not enough dockage downtown,” said board member Jose Goyanes, who is the owner of Metro Beauty
Center and Churchill’s Barbershop. It was his suggestion to create the committee. “Sign me up,” said board member Richard Lydecker, senior partner of the LydeckerDiaz law firm and an avid boater. A recent study has shown that 70% of people think there should be more places to tie up a boat downtown, Mr. Goyanes said. “It’s absurd,” Mr. Lydecker agreed. “I guarantee it will be a fun committee,” Mr. Goyanes said. “I will chair it.” Besides Mr. Lydecker, he said he will recruit board member Alicia Cervera, who, in addition to being managing partner of Cervera Real Estate, is an enthusiastic boater. But, asked board member Julie Grimes, shouldn’t the committee address more than the lack of dock spaces? “Otherwise, we’re going to have multiple committees,” said Ms. Grimes, who owns the DoubleTree Grand Hotel. It was agreed that the committee will tackle dockage and also the completion of Baywalk and Riverwalk. “The points are
connected,” Ms. Grimes said. “This absolutely ties to jobs,” Ms. Goyanes said. “The minute a boater docks on the river, he begins spending money.” Besides, Mr. Lydecker said, “I’m tired of hearing about this over and over again.”
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MIAMI TODAY
VIEWPOINT
WEEK OF THURSDAY, MARCH 24, 2016
MIAMITODAY Miami Today is an independent voice of the community, published weekly at 2000 S. Dixie Highway, Suite 100, Miami, Florida 33133. Telephone (305) 358-2663
Convention hotel debacle: when will the leaders check in? As Miami Beach gropes for straws to rescue its dream of an 800-room convention hotel, over in Miami an exhibition center hotel with exhibit and meeting space has unveiled a new design as two Michael Lewis hotels totaling 1,700 rooms. Though Miami Beach had the advantage of $615 million to upgrade its aged convention center that had a large roster of consumer and trade show bookings, the city is now looking over its shoulder as Miami makes more progress. It shouldn’t be a case of winner or loser. Both communities could develop meeting business that suits their advantages, needs and aims so that it’s entirely a win-win for all of Miami-Dade County, which can use the industry’s jobs. But over the years, Miami Beach has been torn. Residents dislike traffic and crowding that visitors bring – but the industry also funnels about $90 million in bed taxes to city hall. After years of failures, the Miami Beach Convention Center is now being upgraded, But to do the job, the city had to split off plans for a convention center hotel, 800 rooms that many in the industry say are vital to support the parallel plan by Mayor Philip Levine to shift the center from its long-time base of traffic-generating consumer and trade shows to hotel-filling business and industry meetings. That plan toppled last week, however, when voters rejected a site lease to an Atlanta firm to build the hotel adjacent to the convention center. Though
53% of voters who went to the polls favored the plan, 60% was needed. That left city commissioners meeting the next day puzzling over what happened and where to head next. Was it the hotel’s size that voters rejected, they asked, or its height, or the lease deal, or “the secretive efforts by the opponents” that the mayor blasted in a letter, or robo calls and flyers financed by who knows who that Commissioner Michael Grieco said “are pretty gross to see,” or some hidden cabal of unnamed big-money mainland interests, maybe even out of state, that Mr. Grieco said have a competitive interest now or contemplate one? Or was it a lousy job of turning out the vote? The 15,811 voters were fewer than 39% of all 40,576 registered in Miami Beach. Sure, the 7,319 who said no to the hotel were just 18% of city voters, but the 8,492 who said yes were just 21% – hardly a groundswell of support. Maybe so few voted for a convention hotel because it’s hardly a make-orbreak issue for the city’s success, despite the way proponents painted it beforehand. Stuart Blumberg, retired head of the Greater Miami and the Beaches Hotel Association, points out that booming Miami Beach hotels won’t allocate big blocks of rooms that large conventions would need at lower rates even if a convention hotel was anchoring major meetings – the kind that need 6,500 to 9,000 room nights. So the mayor’s vision of ousting consumer shows in favor of shows that will require large numbers of hotel rooms centered on a main convention hotel might need revisiting – soon. We’re about to find out. The mayor and commissioners made clear last week that they have no idea whether the sole
L ETTERS
TO THE
Develop businesses here that can employ arts grads
course, this is but one example. The turnpike from Southwest Eighth Street to Kendall Drive is another snail-paced problem. It is time we heed the example that New World School of the Arts, UM film school, MDC film/broadcast school, Broward County has provided. Carlos Perez FIU, Barry University, UM School of Music, DASH, North Miami Arts Academy, FIU School of Music and a plethora of other institutions, public and private, I’m traveling to West Palm Beach that dedicate themselves to teaching the every day for work. I-95 is really my arts to the youth of Miami wonder loudly nightmare. So many irresponsible drivwhen will our kids have the promise of ers and the traffic is totally unpredictopportunity in their field without having able. Tri-Rail is great but it does not go to to leave their roots in order to use their downtown and also has too many stops. earned education and talent? I’m not sure how long I-95 can handle Miami needs to support the develop- the growing population and tourists. To ment of businesses that can someday me, the high-speed train is urgent. In employ its residents. addition, the car pollution… I can totally Raven Ford feel it when I put my top down. Let’s speed up the project, cannot wait! Huiyi Jackson
Speed up high-speed train
Heed Broward’s example for reversible lane traffic Get negotiations started I think it is wise to implement the reversible lane system in Dade, particu- to develop corner of port larly in the 826/836 corridor. Look at what Broward has done with their reversible I595 system. It gets commuters from the western extreme of I-75 to the eastern I95 within minutes regardless of rush hour because of their reversible lanes. Our comparable 836 east/west corridor can take an hour during rush hour. Of
bidder on a convention hotel this time around – Atlanta’s Jack Portman, who was also involved in the last failed attempt – will make third try. “I wish we had five bidders, four bidders, three bidders, two bidders – no one wants it,” Mayor Levine told the commission. Nor, commissioners said, are they sure that anyone else but Mr. Portman would bid on a deal that isn’t subsidized by the city when across the nation communities subsidize convention hotels, including a potential $115 million subsidy for Miami’s forthcoming exposition center hotel complex. After debate, commissioners threw all their uncertainties into the lap of City Manager Jimmy Morales with the unenviable task of coming back in April with a plan for a convention hotel either on the same site or another plot of city land, either subsidized or unsubsidized, either the same number of hotel rooms or fewer, either the same height or shorter, either with the planned public park or without, either by renegotiating the same deal with Mr. Portman or going back to a new request for proposals or by negotiating with some third party – but definitely on the November ballot after the commission by September approves whatever the deal is. It’s the classic case of a headlong rush by government to go somewhere with absolutely no roadmap or planned destination. After a unanimous vote to let the manager sort out the whole mess came a shout from the dais, “Mr. Manager, you’ve got your work cut out for you” – buck-passing on a grand scale. It would be a marvel if the highly reputable Portman firm actually tried a third time. The process has already cost the company millions. With the city groping for a path – any path, it seems, will do
Regarding your opinion about PortMiami, it is evident that county administrators are not using a valuable asset to its highest potential. No one in their right mind lets an asset that can produce, jobs, economic development and significant income lay idle. There are 161,440 unemployed per-
– most businesses would pack it in. Meanwhile, Miami Beach has lost its long-standing Miami International Boat Show to a much more suitable location on Virginia Key in Miami, its Sea Trade meeting to Broward County, and other events to who knows where while the convention center is rebuilt. Getting them back will be harder than retaining them was. Our industry sales arm, the Greater Miami Convention & Visitors Bureau, has done well over the years with the 20% of so of its business that is meetings and conventions. On Miami Beach it has battled an inadequate facility that soon will be far better able to compete for second- and third-tier events. A convention hotel would help. But the bureau in many ways might find an easier sell across the bay at Miami Worldcenter, with 1,100 dedicated hotel rooms from the outset and a supply of downtown hotels that should be more than willing to reserve large numbers of rooms for key meetings. Downtown Miami, Mr. Blumberg points out, has far better access to sports, museums, performances, shopping, airport transportation and parking. So meetings that need to be attached to a headquarters hotel will find a ready and willing home with 1,100 rooms that won’t need 60% of voters to open the door with a “Welcome” sign. To this point Miami Beach doesn’t have its act together. Telling the city manager to be a one-man rescue squad is asking far too much. A grassroots effort can’t steer this difficult process, either. Leadership needs to come from a united visitor industry plus a unified city government. It starts with a firm vision of what’s wanted and what’s possible. That’s not the manager’s role. When will the leaders check in?
E DITOR
sons looking for a job in Miami-Dade County, not counting those unemployed that are off the unemployment rolls. Small businesses, are looking for every opportunity that can help keep their doors open. Development of the southwest corner of the port will generate thousands of permanent jobs and millions of dollars in economic development and new revenue. No matter how well the port may be doing, the port needs to generate as much revenue as it can muster to pay for its heavy $1 billion-plus debt burden. Development of the southwest corner, however, has stalled since August, when it was proposed by Commissioner Bruno Barreiro. The BCC has continuously pushed to have the administration negotiate directly with a developer and to implement a process for selecting developers interested in developing the site. The mayor, however, after giving strong support to David Beckham last year to develop a soccer stadium on the site, now posits numerous reasons that obviously didn’t matter to him a year ago – and make little sense now. Mayor Carlos Gimenez has made creating jobs and economic development the mantra of his administration. People are looking for tangible results, not political rhetoric.
If the community is to believe the mayor’s promises he needs to lead and take decisive measures that inject the vigor that our local economy needs. Delaying progress at the southwest corner in the name of flaws in the government structure need to stop. When it comes to the general welfare of our community, no flaw should stand in the way. Negotiation should not be delayed any longer. Anthony Jay
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WEEK OF THURSDAY, MARCH 24, 2016
TODAY’S NEWS
MIAMI TODAY
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1.5 million photos, 37,000 artifacts await history researchers BY CAMILA CEPERO
Almost 2,000 researchers a year now pore through specialized slices of the history of Miami, South Florida and the Caribbean at HistoryMiami Museum’s Archives & Research Center. The center at 101 W Flagler St. provides the chance to consult historical materials that it has been collecting, preserving and making accessible since 1940. No other organization has dedicated so much time to Miami’s history. The research opportunity appeals to a broad range of individuals. “We see students, artists and scholars,� said Maria Estorino, vice president of museum collections. “We see business people and people who work for local government.� She describes the visitors to the center as a “healthy mix.� The 2,000 people the center helps include those who visit in person as well as those they help on the phone or email through “remote reference.� Collection highlights include: „Visual materials such as 1.5 million photograph prints and negatives from 1883 to present. „Archives and manuscripts like personal papers and organizational and business records. „The Woodrow K. Wilkins
‘We see students, artists and scholars. We see business people and people who work for local government.’ Maria Estorino Archive of Architectural Records with architectural drawings pertaining to MiamiDade County. „The Charlton W. Tebeau Library containing non-circulating materials such as books, pamphlets, city directories, yearbooks, magazines and newspapers, including scarce local newspapers. „Over 37,000 museum artifacts mostly from the 20th century, but ranging from preColumbian pieces to contemporary items including tools, furniture, boats, aviation materi-
HistoryMiami occupies two separate buildings on the cultural plaza.
als, clothing, musical instruments and religious objects. „An additional 550 cubic feet of archaeological material. “One of our greatest strengths is our images,� Ms. Estorino said, referencing the astounding 1.5 million photograph collection. The center has not digitized the entire archive collection, but the bulk of what is digitized is from the photo archives. The center has a strong commitment to making it as easy as possible to access the archives, Ms. Estorino said. Visitors can immerse themselves in the history of Miami by spending time with personal papers such as diaries and scrapbooks, organizational records such as correspondence, architectural records such as rendering and plans, and photographic collections such as photo albums and photographers’ works. According to Ms. Estorino, the most popular topics include: „Local history and neighborhood history. „Environmental issues. „Information about structures such as buildings. „Local African American history. The center’s online catalog provides information such as descriptions, availability, holdings, call numbers and notes about published materials in the collection. Digital photo archives contain selected images from different photo collections and can be downloaded as lowresolution copies for personal use. “It is encouraged that folks contact us,� Ms. Estorino said. “If we get a sense of what they’re looking for we can direct them.� However, advance notice is only explicitly required for museum artifacts or architectural drawings. “The artifacts require appointments because it depends on the size of the artifact and perhaps the condition,� Ms. Estorino said. Some pieces may have limited or
restricted access in certain circumstances like the possibility of detriment to the object Dedicated space at the center includes a reading room, photocopier and a public access computer. Photography is allowed for personal reference only and not for use in a publication or to project or display, Ms. Estorino said.
A $10 museum admission is required, but visitors to the center receive a research pass that is valid for a month. This is advantageous to visitors who work on projects that are longterm or just take longer than one day. Details: (305) 375-1623 or archives@historymiami.org
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Now open and welcoming residents 9355 SW 158th Ave, Miami, FL 33196 (786) 878-5140 | www.TourTheResidences.com Photos by Maxine Usdan
Groups of students tour HistoryMiami regularly. But students with appointments can do research there.
AHCA License # AL12782
10
TODAY’S NEWS
MIAMI TODAY
WEEK OF THURSDAY, MARCH 24, 2016
Brazil tourism still tops despite economic, political woes BY CAMILA CEPERO
Brazil maintains a stronghold in Miami’s international tourism market despite being in the midst of economic uncertainty and political turmoil, according to the Greater Miami Convention & Visitors Bureau. Brazil finished No. 1 in the county’s 2015 international visitor market with 2% growth, a welcome figure for a tourism industry that has gone a few years without seeing the doubledigit percentage growth that Brazil used to be known for. Even with the growth slowdown, Miami is still seeing record amounts of travel and is Brazil’s top international destination. It’s important to note that Miami and Brazil are connected, said Rolando Aedo, bureau senior vice president of marketing and tourism. One reason Brazil has continually topped the international travel charts is that airlines have remained very loyal to the Miami-Brazil market, he said. The first quarter of 2016 brought 105 weekly non-stop passenger flights from major cities in Brazil to Miami, according to figures provided by Miami International Airport. This is compared to 117 flights during the same time in 2015. According to Mr. Aedo, at least a small amount of the adjustment can be attributed to Brazilian outbound cities that have been eliminated. “For the most part, the network is whole,” Mr. Aedo said. Miami receives direct flights from nine major Brazilian cities, most of which are serviced by American Airlines and LATAM Airlines – the merger of Chile’s LAN Airlines and Brazil’s TAM.
Photos by Maxine Usdan
Luring Brazilian shoppers who vacation here is a long-time practice. This is Macy’s in Dadeland in 2012.
Brazilians visiting downtown Miami look at potential purchases as they walk along Flagler Street in 2011.
“Economics definitely plays a big role,” Mr. Aedo said. “The strength of the US dollar against the [Brazilian] real does pose some challenges.” Although the tourism industry has witnessed past ups and downs of the Brazilian economy, he said, the
combination of economic uncertainty along with political turmoil is unique. Brazil continues to be the most valuable market for Miami’s tourism industry, not only being No. 1 in volume but also in revenue. Historically, Brazil is
Public Notice NOTICE IS GIVEN that pursuant to Section 2-1, Rule 3.02(a), of the Code of Miami-Dade County, (“Code”) A Special Meeting of the Miami-Dade County Board of County Commissioners has been called for Thursday, March 31, 2016, immediately following the Zoning Meeting scheduled to begin at 9:30 AM, in the Commission Chambers, located on the Second Floor of the Stephen P. Clark Center, 111 N.W. First Street, Miami, Florida 33128. In the event that the Zoning Meeting is cancelled, this Special Meeting shall begin at 9:30 AM, at the same location. Such meeting is called to consider the report dated October 2015 by PMG Associates, Inc., regarding the “Analysis of Incorporation and Annexation within the Unincorporated Area” (Report) prepared pursuant to Resolution No. R-1006-13 and any documents prepared by the Consultant. At this meeting, the Board may discuss the Report, accept the Report and potential supplements to the Report, request further information from the Consultant or staff, or direct the County Attorney’s Office to prepare legislation to be considered at a future meeting. The notice calling the Special Meeting was signed by the Honorable Jean Monestime, Chairman, Miami-Dade County Board of County Commissioners, District 2; the Honorable Esteban L. Bovo, Jr., Vice Chairman, Miami-Dade County Board of County Commissioners, District 13; and the following Honorable Miami-Dade County Commissioners: Barbara J. Jordan, District 1; Audrey M. Edmonson, District 3; Sally A. Heyman, District 4; Bruno A. Barreiro, District 5; Rebeca Sosa, District 6; Xavier L. Suarez, District 7; Daniella Levine Cava, District 8; and Senator Javier D. Souto, District 10. All interested parties may appear and be heard at the time and place specified. A person who decides to appeal any decision made by any board, agency, or commission with respect to any matter considered at its meeting or hearing, will need a record of proceedings. Such persons may need to ensure that a verbatim record of the proceedings is made, including the testimony and evidence upon which the appeal is to be based. Miami-Dade County provides equal access and equal opportunity and does not discriminate on the basis of disability in its programs or services. For material in alternate format, a sign language interpreter or other accommodation, please call 305-375-2035 or send email to: agendco@miamidade.gov. HARVEY RUVIN, CLERK CHRISTOPHER AGRIPPA, DEPUTY CLERK
For legal ads online, go to http://legalads.miamidade.gov
not only the market that brings the most people, but Brazilians spend the most, and that’s what makes them so valuable as a market, Mr. Aedo said. The bureau, he said, plans to aggressively market Miami in Brazil as the premier destination for leisure and business in 2016. As reports of a growth in visitors so far in 2016 come in, however, Brazilian retail spending has slowed. “Retail environments are telling us their sales to Brazilians have dropped rather dramatically,” Mr. Aedo said. Brazilians won’t give up their vacations, but they are doing less discretionary spending, he said. “They are shopping less and, to a lesser extent, going to restaurants less.” Brazilians are dealing with a strong US dollar, facing a fourto-one currency exchange rate during the early months of 2016, a 48.8% rise from the same time last year. In early 2015, 2,688 Brazilian reals amounted to the spending power of 1,000 US dollars. So far this year, however, Brazilians would have to cough up 3,998 reals to match 1,000 US dollars. “We are confident that when things settle down [in Brazil], they will continue their very unique relationship with Miami,” Mr. Aedo said. Brazil is the world’s seventh largest economy and although Brazilians are facing economic challenges, he said, the “traveler will continue to travel.” Other markets are also responding to the strong dollar, though not all negatively. Last year Miami had 748,000 Brazilian
visitors, 338,000 Argentineans and 313,000 Venezuelans. Of the top ten international markets, Venezuela was the only one down 10%. In 2015, Colombia had 5% growth and jumped over Argentina and Germany, landing as number three on the international markets list. Miami’s top three European visitor markets are Germany, England and France. “If we look back three years, they were pretty much flat,” Mr. Aedo said, “they were going through their recession.” Now, European markets are up 6%. Half of Miami’s tourism is domestic. Thanks to a more stable US economy, the domestic visitor market increased 9.4%. The Latin American market has grown 2.2%, notably less than the domestic market but still positive, as many of those countries are struggling with economic uncertainty. “Overall, we finished 2015 as another record year of tourism,” Mr. Aedo said. Miami saw 15.5 million overnight visitors, a total growth of 6.4%. “We are truly a global city and there continues to be a demand from the rest of the world to travel to this city.” In 2014, Miami saw 3% fewer Brazilian visitors than in 2013, which could have been caused by the FIFA World Cup match being held in Brazil in 2014. This year, Brazil is hosting the Summer Olympics in Rio de Janeiro and the bureau plans to tackle the possible issue by developing a robust program marketing Miami as a pre- or postevent destination, hoping that Brazilians will continue to travel, even if they don’t stay as long or spend as much. “These types of global events do present a challenge to Miami,” Mr. Aedo said. “We will continue to do very aggressive marketing.” The tourism industry isn’t the only one that feels the blowback of fewer travelers when economies are hard hit. “Tourism is the industry that has fueled other great industries,” Mr. Aedo said. Many tourists see Miami as a safe haven to bring capital and invest in industries such as real estate after coming on vacation, he said. Though Brazil’s future is rather difficult to predict, Mr. Aedo said, the bureau is focusing its efforts on making sure Miami is atop their travel list. “We are constantly working with [Miami International Airport] to bring in new airlines,” Mr. Aedo said, which the airport has had tremendous success at doing. The airport is undeniably the most important facet of the industry, with an astounding 96% of all tourists coming on airplanes. International passenger arrivals increased 2.2% early this year with 1,004,826 arrivals in January 2016 compared to 983,203 in January 2015. “Our top priority is retaining our market share,” Mr. Aedo said, “and we have been successfully doing that.”
14
MIAMI TODAY
BANKING & FINANCE
WEEK OF THURSDAY, MARCH 24, 2016
Election spurs more than usual trepidation in financial plans BY SUSAN DANSEYAR
Presidential elections almost always cause financial uncertainty in the market and for many concerned about their jobs or salaries, but a number of investment advisors are seeing more than usual trepidation as we move toward November, given the extraordinarily divergent candidates vying for our votes. What makes this race so unusual, in large part, is that no matter what happens we’ll be making a decision between two people who are dramatically different, said Eric Santa Maria, director of tax and valuation services for Verdeja, De Armas, & Trujillo Certified Public Accountants. Another factor is the Republican frontrunner, Donald Trump – as of this week – is not “a typical Republican” nor is he being supported by the party as a whole, he said. “No one is going into the convention as a clear nominee,” Mr. Santa Maria said. “And we really don’t know what might happen with Ted Cruz’s candidacy.” From watching the debates and listening to his clients, Mr. Santa Maria said the main concern pertaining to Mr. Trump’s candidacy seems to be his support for a 45% trade export tariff on Chinese goods coming into the US. That’s a number he mentioned in January and has flip-flopped somewhat since then, Mr. Santa Maria said, but Mr. Trump essentially said he wants to equalize what he said is China’s unfair advantage over the US bringing in products. That’s a concern for many people, particularly in MiamiDade, who deal with the trade and depend on a particular product, Mr. Santa Maria said. Mr. Trump has voiced support for punitive taxes on imports, which Mr. Santa Maria said could have a huge impact on Miami-Dade’s economy.
Photo by Maxine Usdan
Said Gabriel Bustamante, president of Bayshore Asset Management, of the run-up to the fall election, “In times like these, investors tend to view the markets as unsettled, so our job is to offer perspective.”
Most likely, he said, people will wait and see what happens at the Republican National Convention. When his business clients discuss their concerns about the Democratic candidates, it’s primarily over taxes. They’re telling him Hillary Clinton would probably support some tax raises for the super wealthy but they’d likely be minor tweaks and nothing so drastic as reforming the IRS code. The clients who have expressed their concerns seem to be more worried should the Democratic candidate be Bernie Sanders, said Mr. Santa Maria. The greater uncertainty right now, resulting from concerns over who will be the candidate for both parties, could lead to employers halting hiring plans until the future becomes clearer, he said. For Joshua Mungavin, a certified financial planner and principal of Evensky & Katz/Foldes Financial Wealth Management,
Eric Santa Maria: differences vital.
a number of clients have voiced concerns about candidates on both sides, as the nominees have the potential to be far apart in almost every aspect. “Certainly there’s concern every presidential election but we usually don’t see this much,” Mr. Mungavin said. “Things are far more polarized now.” The increased apprehension seems to be primarily about taxes and jobs connected with the
government, branches in the military and contractors with the military. The issue of taxes isn’t clear at this point, Mr. Mungavin said. “It might mean more taxes for the wealthy; it might mean more taxes for everyone,” he said. “This is not only an election for the presidency but a good portion of the rest of government and there’s a lack of clarity as to how much tax raises will get through Congress.” People tend to think markets will behave differently if you elect a Republican or Democrat, said Gabriel Bustamante, president of Bayshore Asset Management. “There was a lot of uncertainty in the last election between Barack Obama, who was seen by some as hostile to business, and Mitt Romney, who was viewed as probusiness, and how the market would react,” he said. “In times like these, investors tend to view the markets as unsettled, so our job is to offer perspective.”
The market has experienced volatility, Mr. Bustamante said, which is why it’s necessary to point out to those who have concerns that some of the best times to invest are when there’s uncertainty. “When markets are down the most, they’re often followed by the best market performances.” At the same time, he said, there have been concerns that over-regulation by this administration and Congress have caused flat markets for the past year or so. The clients who have expressed concerns with Hillary Clinton believe she will probably follow President Obama’s policies and extremely high debt levels – over $18 trillion, Mr. Bustamante said. “This is the largest run-up of debt we’ve had with any administration,” he said. “Studies show economies tend to grow slower as debt levels approach 100% of gross domestic product, which it is now.” As for Donald Trump, who right now looks to be the frontrunner for the Republican party, Mr. Bustamante said some of his clients have deep concerns with his campaign indications that he’ll re-negotiate trade deals with Latin America, on which Miami’s economy is dependent. Additionally, Mr. Bustamante said some of his clients are not sanguine with Mr. Trump’s proposal to deport 11 million immigrants. Deporting so many people would have a huge effect on Miami’s tourist and agricultural industries, he said, where a number of jobs are performed by immigrants. It’s a highly unusual election year for sure, said Mr. Santa Maria. However, while he is definitely seeing far greater uncertainty than in prior ones, Mr. Santa Maria emphasized that none of his clients have yet said they’re planning to move out of the country.
Legislative session left bankers feeling partially victorious BY CATHERINE LACKNER
The state’s bankers achieved some, but not all, of their goals during this year’s session of the Florida Legislature, said Anthony DiMarco, executive vice president of governmental affairs for the Florida Banking Association House Bill 145 allows a consumer who has paid off an openended line of credit to re-open that loan without going through a new application process. In return, the state won from the banking industry the concession that satisfaction-of-loan documents must be delivered to the parties within 45 days rather than the 60 days that are allowed now, Mr. DiMarco said. Also contained in that bill is language that would allow private schools to assess a convenience charge on students and their parents who use a credit card; those entireties were previously prohibited from doing
so. The bill also mandates that money-lending companies can’t tack on a referral charge to the loan of a consumer who uses their services, though they can pay fees to third parties who refer customers. Senate bill 494 also passed. “This concerns what happens to your digital assets when you die,” Mr. DiMarco said. Those can include online financial and brokerage accounts, which are becoming more and more prevalent, he added. Apple and Facebook fought the law, which says a person can appoint a trustee who will then have access to the assets, Mr. DiMarco said. Introduced by Sen. Dorothy Hukill last October, the Florida Fiduciary Access to Digital Assets Act defines the terms by which someone can use an online tool to allow a custodian to disclose or refuse to disclose information that is digitally stored. The custodian would
‘We don’t know until we know.’ Anthony DiMarco have explicit power over the digital assets, including online banking and investment accounts. He or she could also preserve posts and pictures from social media pages and ensure that they aren’t altered by a third party. Ms. Hukill, a lawyer who
handles wills and estates, told the Tampa Bay Times last year that it’s vital for people to assign someone control of their online legacy. In their wills, people routinely designate a personal representative, or executor, to make sure their wishes are carried out. But for those who die without a will, a judge will appoint a representative who might not know how the deceased person wanted his or her digital assets managed. “This bill sets out clearly that you are in charge” and that your representative “stands in your shoes” after your death, Ms. Hukill said earlier this year. The law will take effect July 1. Senate Bill 562 (House Bill 713) didn’t pass, but probably will be refilled next year, Mr. DiMarco said. It would give creditors, including banks, more time to stop their collection efforts after the debtor has hired an attorney. The current three-day standard is unrealistic, he said. “We don’t
know until we know.” A bill that was aimed more at finance and payday loan companies than at traditional banks also passed and has been sent to the governor, according to state records. Senate Bill 626 and companion House Bill 717 allow the state’s Office of Financial Regulation to deny a license or take disciplinary action against a person who violates the Military Lending Act in connection with consumer finance loans or other money services. Both take effect in October. Congress passed the Military Lending Act in 2006 to provide specific protections for active duty service members and their dependents in consumer-credit transactions. It caps the interest rate on covered loans at 36%; requires certain disclosures to borrowers, and prohibits creditors from requiring a service member to submit to arbitration in the case of a dispute.
WEEK OF THURSDAY, MARCH 24, 2016
BANKING & FINANCE
MIAMI TODAY
15
Softer condo segment, strong dollar’s impact under Fed microscope BY B LANCA VENEGAS
South Florida continues to see economic growth paced by robust commercial real estate activity and strong hospitality numbers. However, a strong dollar versus other global currencies and an oversupply in some areas of residential real estate might put a damper on activity in 2016, experts said. Last year, Miami Today reported a possible slowdown in the Miami condominium market, as well as in the tourism and foreign trade sectors as a result of the economic situations in South America. This could still be the case for the rest of 2016. Karen Gilmore, regional executive for the Federal Reserve Bank of Atlanta, said during an interview with Miami Today that, in 2015, the three biggest sources of foreign capital flowing into commercial real estate were Canada, Germany and Norway and that, despite the Latin American economy being under a lot of pressure, there is still some activity coming from Brazilian investors, but not to the extent that has been seen previously. “The real estate market is always changing,” Ms. Gilmore said. “We definitely have a strong foreign buyer bias in terms of our residential sales, but the dollar is very strong against other global currencies and this puts more pressure than we would have experienced in 2013 or 2014.” On the residential side, Colombia and Argentina tied in purchasing the third-most real estate in Miami, according to statistics from the 2015 Profile of International Home Buyers in Miami Association of Realtors Business Areas featured on the Miami Association of Realtors website. January 2016 statistics also pointed toward a strong interest from the Philippines and the United Kingdom, according to the site. However, condo oversupply will probably affect prices this year. “The condo segment is much softer in terms of price appreciation,” Ms. Gilmore said. “There’s still growth in the number of sales that have taken place in both the condo and single-family segment, but something to watch is the increase in inventory, especially in the $1 million price range.” As for tourism, numbers from international travelers were “good” in 2015, Ms. Gilmore said, but domestic traveler numbers have been on the rise. “There is some indication that the strong dollar is going to have some influence in our foreign visitors,” Ms. Gilmore said. “We may have a little tradeoff in the number of foreign visitors, but we’ve picked up that slack from domestic visitors.”
So 2016 bookings are also being monitored closely, she said, as well as the amount that international visitors are spending. Employment numbers also improved since last year locally and throughout the state, Ms. Gilmore said. “We have our unemployment rate of about 5%, so it’s pretty much in line with the rest of the country, and that’s a pretty good improvement,” she said. “We continue to see economic growth in South Florida,” Ms. Gilmore said. “We still have a robust commercial real estate activity, especially in the retail sector, and hospitality has been strong, which is a significant Photo by Marlene Quaroni contributor to the economy of “There is some indication that the strong dollar is going to have some influence in our foreign visitors,” suggested Karen Gilmore, Miami’s regional executive director of the Federal Reserve Bank of Atlanta. South Florida.”
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WEEK OF THURSDAY, MARCH 24, 2016
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