Miami Today: Week of Thursday, March 23, 2017

WEEK OF THURSDAY, MARCH 23, 2017

A Singular Voice in an Evolving City

WWW.MIAMITODAYNEWS.COM $4.00

BANKING & FINANCE

Banks wary of a bill to allow new credit union use, pg. 13 IT’S SMART TO GO 50-50: A Florida Department of Transportation opinion that a state cap on funding for transit projects won’t apply to MiamiDade County’s Strategic Miami Area Rapid Transit (SMART) Plan is a huge victory for the county, Miami City Commissioner Francis Suarez said Friday, because it makes the plan eligible for state funding of up to 50% of costs and makes implementation of the six-leg rapid transit plan substantially easier. State officials said a Florida law that a transit project that doesn’t get federal funding can get only 12.5% of the cost from the state isn’t anticipated to apply to any of the SMART corridors.

International bankers weave web of partnerships, pg. 15

The Achiever

By Catherine Lackner

CONNECTING WITH THE BEACH: The City of Miami Beach has set up MB Resident Connect, an electronic alert system that allows residents and stakeholders to set up key words of interest and receive an alert when the topic pops up on a city agenda. This can include items placed for a commission meeting, committee meeting or any other public meeting. Those who want to try it can go to https://secure.miamibeachfl.gov/ mbresidentconnect RENT FROM NEIGHBOR: Miami-Dade’s Transportation and Public Works Committee voted unanimously March 16 for a master agreement between the county and the City of Coral Gables, which would pay $158,686.73 in back rent and quarterly rent of 75% gross revenue, less some deductions, on parking spaces in lots 42 and 43. The resolution, sponsored by Xavier Suarez, would authorize the administration to execute the agreement on behalf of the Transportation and Public Works Department. The agreement now goes to the full county commission for action.

RAILROAD CROSSING: The Transportation and Public Works Committee voted unanimously March 16 to authorize a railroad crossing license between Miami-Dade and Florida East Coast Railway for construction of a crossing and traffic control devices at Northeast 131st Street. The estimated cost is $650,852.45. On behalf of the Transportation and Public Works Department, the resolution would authorize the administration to execute the agreement. In addition, the committee backed a resolution by Commissioner Rebeca Sosa that would authorize a three-way agreement among Miami-Dade County, the state Department of Transportation and South Florida Regional Transportation Authority for installation of railroad crossing traffic control devices at North River Drive near Northwest 38th Avenue, with the state paying yearly maintenance of $3,558. Both resolutions go to the full county commission for action.

Deborah Korge

Photo by Cristina Sullivan

Women’s Fund director prioritizes economic security The profile is on Page 4

Beach trails all competitors in convention chase

By Marcus Lim

Every competing convention site has an attached hotel averaging 2,150 rooms as Miami Beach struggles to get voters to OK an 800room convention hotel, a Blue Ribbon Steering Committee was told Monday night.

At the committee’s ninth meeting to secure a hotel for the Miami Beach Convention Center, John Kaatz, principal of Convention Sports and Leisure, said a hotel is vital to convince convention planners to pick Miami Beach.

His research stacked Miami Beach with 14 competitors, all currently far ahead of us.

Mr. Kaatz compared competitors with hotels adjacent or attached to their convention center.

The major competitors average 2,150 rooms, far more than the 800 the steering committee proposes.

“We are the only one that do not have an adjacent attached nearby headquarters hotel,” Mr. Kaatz said. “This stands out to me. This strikes me that we are missing something.”

The City of Miami Beach has been vying for a hotel ever since the convention center, which is now being revitalized and expanded, was built. A ballot measure failed in 2013. The city tried again last year, gaining only 54% of votes.

Downtown traffic jams relief hope

Naysayers have said a hotel would be outof-scale with the city’s relatively low buildings and fear it would further congest traffic. From a business standpoint, though, Mr. Kaatz said, not having the hotel would see conventions go elsewhere.

In previous meetings, convention experts expressed the need for 1,000 to 1,200 rooms to draw big events. The center draws 25 to 32 shows yearly but experts have said bigger conventions will come if there is a headquarters hotel.

There are hotels within a half-mile of the center, but Mr. Kaatz stressed that it isn’t ideal as convention planners would seek closer accommodations, and lack of a hotel would scare off event planners, who view it as a logistical nightmare to book multiple hotels for convention participants.

A survey of convention planners found 42% would not book the convention center if there was no hotel, 33% said they were less likely to book and 35% said there would be no impact.

“We are truly the only market that does not have an attached property, and a lot of these competitors are looking to add more,” Mr. Kaatz said.

Some high-impact bookings that the Miami

Beach Convention Center would hope to lure are the American College of Emergency Physicians, American Academy of Cancer Research and the Mortgage Bankers Association, but it can only get them if the convention center has a hotel and improves its functionality after the convention center’s renovations are finished, Mr. Kaatz said.

“The notion is the convention center improvement is a fundamental element in getting those bookings,” he said. “There are wonderful businesses considering Miami Beach because of the convention center, but there still is a hotel issue.”

Ricky Arriola, committee chair, hopes to make a recommendation to city officials by May 22, a bit more than a year after the committee first met.

“I want to vote as a committee that we proceed to have a convention center hotel or not, and if the answer is in the affirmative, a recommendation on what a site plan would look like, what lot, what did we learn from all the surveys and meetings, the must haves in terms of traffic, height, room numbers,” Mr. Arriola said. “In my mind, that is what I want to do – an affirmative or negative recommendation to the committee.”

Some relief for traffic jams when the Brickell Bridge opens may be ahead, Downtown Development Authority directors have heard.

Chair Ken Russell, a Miami commissioner, met with Jim Wolfe, Florida Department of Transportation District 6 head, to review a list of problems with the bridge, including alleged improper openings that paralyze downtown, especially during rush hours.

The authority wants current restrictions enforced and would prefer to lengthen rush hour periods when the bridge could not be opened.

The bridge is supposed to be locked down (except for vessel emergencies) between 7:35 and 8:59 a.m., 12:05 and 12:59 p.m., and 4:35 and 5:59 p.m. weekdays.

The new rules would extend the morning and evening lockdowns until 9:30 a.m. and 6:30 p.m. respectively.

But when authority board member Richard Lydecker’s law firm analyzed bridge logs pro bono, openings were frequent during restricted hours, mostly for pleasure craft.

Mr. Wolfe was very receptive to several items on the authority’s list, and agreed to evaluate “the low-hanging fruit, including opening times and pedestrian crossings.

They’re on the side with us,” Mr. Russell said Friday.

The transportation secretary also agreed that time-stamped photos and digital readings should replace today’s bridge logs scrawled in pencil by the bridge tender, he said.

“Could there be a technical issue with the bridge?” asked authority board member Alan Ojeda, president of Rilea Development Group. “You see a little boat go under, and by the time the bridge is lowered back down again, that boat is already in the Bahamas. Those minutes all add up.”

He suggested someone look at whether the technology that raises and lowers the bridge is defective or could be improved.

Meanwhile, Mr. Russell called the meeting with Mr. Wolfe, “very effective. We’ve got a good plan moving forward.”

NEW OPERATORS EXPECT TO GET JUNGLE ISLAND IN APRIL ...

2

COUNTY OK’S TEAM TO REVIEW, UPDATE ‘CONSTITUTION’ ...

8

WITH STATE AID, AIR TERMINAL TO GET $60 MILLION ROOF ...

2

HARDEMON SEEKS 240-DAY LEGIONS WEST MORATORIUM ...

8

CITY IMPACT FEES MAY BE TAPPED FOR 7-MILE BAYWALK ...

3

SCIENCE MUSEUM NEARLY DONE, ENTRY FEE QUESTIONED ...

10

VIEWPOINT: SLOW PERMITTING COSTING CITY TWO WAYS ...

6

12-STORY GATEWAY AT WYNWOOD A LINK TO MIDTOWN ...

23

TODAY’S NEWS

WEEK OF THURSDAY, MARCH 23, 2017

MIAMI TODAY

3

Downtown might hire its own project manager for Flagler

By Catherine Lackner

Frustrated with on-again, offagain progress on Flagler Street’s renovation from the Dade County Courthouse to Biscayne Boulevard, Miami’s Downtown Development Authority might consider hiring its own project manager. The idea was one of many discussed at the authority’s Friday meeting.

Though Miami’s Capital Improvement Program (CIP) is running the project, the downtown authority, stakeholders on the street, and Miami-Dade County – not the city – are footing most of the cost.

Yet authority members say they have been barred from meetings and discussions about the renovation.

The authority and city have drawn up a memorandum of understanding that is be considered by the city commission today (3/23). It seeks to assure the authority a seat at the table, something authority members say is crucial.

“There is gross incompetence within the CIP,” said authority board

‘If you don’t have a competent project manager onsite, it doesn’t matter who you pick.’

Jerome Hollo member Gary Ressler, principal of the Tilia Family Of Companies.

“We know the CIP can’t handle this,” said authority board member Jerome Hollo, vice president of Florida East Coast Realty. “It’s a

real problem. Maybe we can bypass some of the issues” by having a manager onsite. “We’ve got to get this moving.”

“The root problem is the requestfor-proposals process,” said authority chair and Miami Commissioner Ken Russell. “It gives us a shallow pool to pick from.”

Chicago-based F.H. Paschen, or FHP, the contractor on the Flagler project, had already had a dispute with the city when it was chosen for the job.

“It’s not just that,” Mr. Hollo said. “If you don’t have a competent project manager onsite, it doesn’t matter who you pick.”

“Jerry is 100% right,” said authority board member Richard Lydecker, senior partner of the Lydecker -Diaz law firm. “You need a project manager if they’re just bird-nesting this.”

“There has been a great deal of progress since December,” said Alyce Robertson, authority executive director.

But “they are still stuck on one

‘Jerry is 100% right.

You need a project manager if they’re just birdnesting this.’

Richard Lydecker block,” said authority board member Jose Goyanes, owner of Metro Beauty Center and Churchill’s Barbershop.

There have been multiple problems on the project, including a

maze of underground utilities that did not agree with site maps and other unforeseen obstacles.

Miami issued FHP two violation notices last fall because of slow progress on the project, which was several years on the drawing board before a shovel was ever turned.

The notices attracted the attention of the bonding company, and that appeared to trigger the progress spurt, said Brian Alonso, a principal in Lost Boys Dry Goods on Flagler Street who is also active in his family’s real estate business. He co-chairs the Flagler Street Task Force with authority Vice Chair Neisen Kasdin, office-managing partner of Akerman LLP. FHP has now requested to set a new schedule, including an extension, to which the city has not agreed.

“We should be working with the city,” Mr. Russell said. “It should be the city and the DDA pointing our firepower at the contractor. Right now it’s a three-sided table, but we need to be aligned.”

City impact fees may be tapped to help fund 7-mile baywalk

By Catherine Lackner

Miami’s Downtown Development Authority is eyeing the impact fees the city collects for parks to help fund Baywalk, a 7-mile-long open pedestrian and bike trail alongside the water that is to run from Brickell to the Julia Tuttle Causeway, and for other park space downtown.

Rights to use most of the land along for the path have been secured, with only a few property owners resisting. The city has offered to indemnify them, but a few are still reluctant. Negotiations continue.

About $80 million has been collected in the parks fund since 2011, though some of that has been allocated or committed, said authority chair Ken Russell, who is a Miami commissioner, at the group’s meeting Friday.

“That account is pretty flush, and if we don’t find sites for parks, that money will go somewhere else,” he said. He suggested the authority’s Urban Placemaking Committee come up with a list of potential park sites.

He noted the success of Omni Park, a 7-acre swath of previously abandoned land on 13th Street from Northeast Second Avenue to Northwest Miami Court. The area has been targeted for improvements as community activists have decried drug use and crime in the neighborhood surrounding the I-395 overpass.

A project of the Omni Community Redevelopment Agency, the Miami Parking Authority, the Florida Department of TransporJose Goyanes tation, Urban Implementation LLC and the Pérez Art Museum Miami, the park spans three city blocks, each dedicated to a

different pursuit. “It’s really gaining traction, reclaiming urban land for parks,” Mr. Russell said.

Board member Jose Goyanes, owner of Metro Beauty Center and Churchill’s Barbershop, suggested the group look at the site of the former Lerner’s department store on Flagler Street, which he called “unbuildable.”

Authority b oard member

Alicia Cervera, managing partner of Cervera Real Estate, suggested the group find sites “that would give people access to the water.”

That brought the discussion to the waterfront path. “Baywalk and activating the waterfront has been part of our master plan since 2008,” said authority vice chair Neisen Kasdin, office-

managing partner of Akerman LLP. “That’s where we need to put our firepower.”

“From my understanding, [the impact fees are] for the purchase of land for parks,” Mr. Russell said, but perhaps fees could be used for amenities and fixtures along the Baywalk.

Baywalk is not only about beauty and recreation, Mr.

Kasdin said, “but you’re also moving people around” by foot or by bicycle.

If the authority wants the project to become reality, “Take a page from Underline’s book,” Mr. Russell said. “The creation of Baywalk begins with a proper marketing campaign to show the public it’s a good spend of our money.”

6

MIAMI TODAY

VIEWPOINT

WEEK OF THURSDAY, MARCH 23, 2017

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

Too much time in permitting is too little money for Miami We used to learn by the grapevine that getting a building permit was slower in one city than another. For example, we always heard that Coral Gables could take seemingly forever to get a small project permitted.

But thanks Michael Lewis to the Internet, we can now read officially what virtually every community tells us about how long a building permit for a single-family home or a small renovation is going to take and plan accordingly.

One of the longest waits nationally is San Diego, where such a permit typically takes six months to a year, the city says candidly on its website.

Massachusetts says “building permits that do require plan review will typically be issued in two to three weeks but could take longer during peak times of the year depending on the workload.”

In Washington State, Seattle takes 120 days, longer if corrections are needed, while rural areas cite three to four weeks to issue a permit. In Stevens County, “we can normally complete plan review and issue a permit within 7-10 days.”

Almost every jurisdiction, no matter how small, is clearer about how long it takes than the City of Miami, which nonetheless sounds fastest. Miami’s total timing explanation is: “The time to get a permit issued varies.

Some permits can be issued the same day, over-the-counter and others require that the plans be left for review.”

It turned out that when Commissioner Francis Suarez asked for a study last year, he learned that “left for review” meant close to a full year – an average of 310 days to get a permit for a single-family home or a $100,000 or less remodeling or project.

If you wonder why so many unpermitted – meaning illegal – remodeling jobs are being done all over Miami to the detriment of the city as a whole, look no farther than the wait.

Are you going to wait a year to get a permit to build a fence or a shed? Nobody does.

Yes, some folks are happy to avoid Miami’s permit fee, which starts at $32 for the first $1,000 of value and grows by $16 for every

$1,000 thereafter. A permit for a $50,000 job, for example, would cost $816.

But it’s not the red ink in a fee so much as the red tape in getting a permit that leaves the city with a red face for so much unpermitted work.

As we reported last week, after last summer’s study the city was able to trim time from the average wait from application to the day a homeowner can work on the deck or driveway legally. The more light on the problem, the shorter the wait is likely to become.

Not all the delay is due to city bureaucracy.

Virtually every jurisdiction in the nation says the better the plans that are submitted, the faster a permit will be issued. Quality of plans is the single biggest factor in permitting time.

But the Miami study found that plans often had to be reworked 10 times or more.

Nobody else in the nation that we could find cites a two-digit number for required reworking of plans.

That leads to the question of whether, in Miami’s zeal to get it absolutely right, the city is asking more than is needed for small jobs.

There might be some value in issuing permits for projects that are slightly less than perfect in order to avoid homeowners

A bright spot for the US in global commerce In both political and military battles there are casualties. During the past election season, one of the most notable casualties was free trade. The bipartisan piling on – slamming NAFTA, TPP, WTO and single nations (mainly Jerry Haar China, Mexico and Japan) – is without precedent.

As for proponents of free trade, their silence is deafening – fearful of retaliation by a public whose rudimentary understanding of international commerce would fill half a thimble.

Business and government leaders in trade-dependent cities on both coasts and the borders with Canada and Mexico are especially concerned, as well as perplexed that so many of their citizens are supporting candidates who espouse protectionism and isolationism. (Talking about shooting oneself in the foot.)

Ironically (and happily) the anti-trade minions are not anti-foreign direct investment – as long as that investment is inward bound, not outward bound. And fortuitously, whatever the national and congressional outcomes in November, inward flows of investment will continue unfettered.

Just what is the nature, scope and size of that investment and what does it accomplish? Foreign direct investment (FDI) presently exceeds $3 trillion, and the US remains the preferred destination for investors worldwide. With an unrivaled consumer market, excellent systems of higher education, skilled workers, entrepreneurial and innovation-oriented culture, a transparent and regulatory environment, and the largest venture capital and private equity market in the world, the US will continue to be #1 in attracting overseas investment.

Interestingly, eight countries account for 80% of FDI: the UK, Japan, the Neth-

The Writer

Jerry Haar is a business professor at Florida International University and a global fellow at the Woodrow Wilson International Center for Scholars in Washington, DC. His latest book, co-written with Ricardo Ernst, is “Innovation in Emerging Markets.” erlands, Canada, France, Switzerland, Germany and Luxembourg. Notable, however, are the inroads made by several emerging markets, especially China that grew by 30% last year to $15 billion. New York led the states with several large real estate and financial services transactions.

And in response to those who believe that we don’t make things anymore and that all our jobs are being shipped offshore, the truth is that manufacturing is the largest industry by far for foreign investors, with chemicals being the leading sector.

Most visible to the average American, however, is the automotive industry. In 1992, South Carolina ushered in the new wave of investment by foreign carmakers in the South by offering BMW a package that was ultimately worth an estimated $150 million. A decade later, the state put up an additional $80 million in infrastructure aid when BMW decided to expand its operations in the state.

In 1993, officials in Alabama lured a Mercedes-Benz facility, the first foreign auto plant in the state, with a package worth more than $250 million.

Today, Acura’s RDX is manufactured in Liberty, Ohio, with 70% American parts; Nissan and Infiniti in Smyrna, TN; VW in Chattanooga; Toyota in Kentucky and Michigan; and BMW, Honda, MercedesBenz, Kia, Subaru and other big foreign automakers are manufacturing in the US. Be that as it may, it is in the area of services where the US competes most effectively, running trade surpluses and attracting huge amounts of foreign investment, with real estate, financial services and

information technology leading the way.

One of the best examples is South Florida, where FDI in real estate is one of the key drivers of the economy. Last year, foreigners spent $6.1 billion on Miami-area real estate – 36% of all such investment.

The reasons vary from opportunity buyers such as those from the Middle East who spent more than $500 million on Miami commercial and residential real estate in the past 18 months, to necessity buyers such as Brazilians and Venezuelans concerned with insecurity and political and economic troubles in their homelands.

Since Miami is the preferred “second home” for Latin Americans, it is no surprise that real estate and the services industry, in general, would rank among the highest among US locales for business investment.

Cognizant of the huge impact made by FDI – employment, knowledge transfer, tax revenue and other multiplier effects – states and municipalities across the nation are in vigorous pursuit of FDI on a global scale.

South Carolina has successfully recruited companies from overseas, such as Michelin in the transportation sector. Virginia’s Economic Development Partnership boasts 700 internationally-owned companies in the state and last year announced a $2 billion investment from a Chinese pulp and paper manufacturer to establish its first US advanced manufacturing operation, creating 2,000 jobs over five years.

In Florida, both Enterprise Florida at the state level and the Beacon Council at the Miami-Dade County level have achieved notable success in their global efforts to attract FDI across of range of industries, as in the case of Embraer, the Brazilian aerospace company that opened a manufacturing facility on the state, creating 600 jobs.

Free trade may have been the whipping boy for politicians and candidates for office this past election season. However, we should all be grateful that inward bound FDI was spared vilification. It is the one area of global commerce where the economic benefits far outweigh the consequences.

and small contractors taking the illegal but frequent step of simply working without a permit and therefore without any oversight or building inspection at all.

Is some oversight, in other words, better than none? It’s a question city officials might carefully ponder. If they demand something that’s too hard to get, illegal work will make the city the worse rather than the better for its perfectionism.

The city might also be more candid about how long it really takes to get a permit and be legal in small projects. If the average is 310 days, as it was last year, or 250 or whatever as it might be now, shouldn’t the city’s website say that rather than saying, as it does now, one day or maybe longer? How about truth in advertising?

Meanwhile, we commend city commissioners for looking carefully into the time lag and trying to do something about it.

The faster they push the process, the more improvements are going to get done, the better the city’s homes are going to be, and the more jobs will be done legally – paying the city for a permit – and the fewer illegally, paying the city nothing.

Time, it turns out, is money for both the homeowner and the city.

Letters to the Editor Leave Calle Ocho alone, and survey the merchants

I agree with the general concept of last week’s Little Havana report, except that it is a mistake to turn Southwest Eighth Street into two-way traffic or turn a traffic lane into a dedicated bicycle lane. Neither do I believe that the traffic should be reversed at the expense of wasting several hundred thousand dollars for little benefit to the merchants.

The most important stakeholders are the merchants, who should be contacted and surveyed before any decision is made. They are the ones who would be directly affected by any changes.

It should also be noted that the elimination of a traffic lane will impact Brickell and Downtown in a very negative way. Like it or not, Southwest Eighth Street is a main road to access those areas that keep growing on a daily basis, and most people use cars and not bicycles.

Leave Southwest Eighth Street as is and beautify it with more lights and landscaping.

Pablo Canton

miamitodaynews.com FOUNDED JUNE 2, 1983 VOLUME XXXIV No. 43 ENTIRE CONTENTS © 2017

To contact us: News

Advertising Classifieds Subscriptions Reprints

(305) 358-2663 (305) 358-1008 (305) 358-1008 (305) 358-2663 (305) 358-2663

Editor and Publisher / Michael Lewis Vice President / Carmen Betancourt-Lewis

MIAMI TODAY (ISSN: 0889-2296) is published weekly for $145 per year; airmail: to Europe $190 per year, the Americas $145 per year. Published by Today Enterprises Inc., 2000 S. Dixie Highway, Suite 100, Miami, Florida 33133, USA. Periodicals postage paid at Miami, FL. POSTMASTER: Send address changes to MIAMI TODAY, 2000 S. DIXIE HIGHWAY, SUITE 100, MIAMI, FLORIDA 33133.

TODAY’S NEWS

WEEK OF THURSDAY, MARCH 23, 2017

MIAMI TODAY

7

Untangling rules on waterfront setbacks, public walkways

By John Charles Robbins

The Miami River Commission is backing a proposed amendment to the city’s zoning code, Miami 21, that would clarify the extent of rules on waterfront setbacks and public walkways.

For many years, the city charter and city code have required that development on most waterfront property include a 50foot setback and 25-foot public walkway.

On Biscayne Bay it’s called the baywalk or bayline. On the Miami River, the walkway is the riverwalk.

River commission officials said they were surprised by a “shocking” interpretation issued by the city’s zoning administrator last fall that removes the City of Miami zoning code’s waterfront building setbacks, view corridor setbacks and public riverwalk requirements along the river west of the Fifth Street Bridge.

River commission Chairman Horacio Stuart Aguirre and Executive Director Brett Bibeau reported the matter to the commission in November 2016.

The river commission unanimously agreed to appeal the

Photo by John Charles Robbins

One of city’s latest projects is the revamping of Lummus Park on the river, including riverwalk system.

zoning interpretation and began work with city officials toward amending or reversing the interpretation, in order for the code’s legal requirements for waterfront walkways, building setbacks and view corridors to remain in place for the entire Miami River and all connecting waterways.

The zoning administrator was apparently citing a charter amendment, approved by voters

in 1979, requiring that all future development along the bay and along both banks of the river below the Fifth Street Bridge be placed 50 feet from the water’s edge.

But Miami 21, effective in May 2010, says, in part: “In addition to the Miami City Charter requirements, the following setback, walkways, and waterfront standards shall apply to all waterfront properties within

the City of Miami…”

Ever since this was brought to the zoning administrator’s attention, river commission and city officials have been working on language to add to the waterfront standards in Miami 21.

The river commission in March supported adoption of a proposed amendment that clearly defines the area.

The amendment would add to the waterfront standards sec-

New path targets homeless downtown

By Catherine Lackner

A new approach to easing downtown Miami’s homeless problem seeks to treat mentally ill people and substance abusers as a first step toward getting them into housing.

“We don’t have a homeless problem; we have a substance abuse and mental illness problem,” said Tim Schmand, Bayfront Park executive director and chair of the Downtown Development Authority’s Homeless Task Force.

While the Miami-Dade County Homeless Trust and other agencies have done a good job of helping those who are homeless for economic reasons, the chronically homeless – most of whom suffer from some sort of mental disorder – haven’t fared as well, he told authority directors at their Friday meeting.

As of the last count, there are 609 homeless people in MiamiDade County, about 40% in the central business district. “That’s 240 to 250 people, which is not that big a number. If we can get them in the system, they’ll be on their way to a different life,” Mr. Schmand said.

He said he has been working with Miami-Dade County Judge Steve Leifman, an advocate for the mentally ill – especially those who have fallen into the criminal justice system – on solutions for downtown. Also involved are representatives of the Lazarus Project, which seeks out homeless mentally ill people in an effort to stabilize their conditions.

Judge Leifman has suggested “boots on the ground and a general” who can identify homeless people in hopes of getting them treatment, Mr. Schmand said.

“This homeless population is not tethered to reality,” he said. “We have to engage them, try to get

them medication if they need it.”

“That’s where the Lazarus Project comes in,” said authority chair and Miami Commissioner Ken Russell. It uses medical personnel trained in mental health issues to seek out, diagnose and secure medication for street people, then visit at intervals to ensure compliance.

“Tim is spot-on,” said authority board member Gary Ressler, principal of the Tilia Family of Companies. “There are existing strategies that are successful.

Miami Beach is an example: they have their own system that tracks homeless people. This is a way to stop the revolving door” that’s evident when mentally ill people get arrested and then released without

treatment for their disorders.

“I agree 100%,” said authority board member Jose Goyanes, owner of Metro Beauty Center and Churchill’s Barbershop. He said he met a homeless veteran who wanted to go back to his home state, and within days the Homeless Trust had arranged it.

But on an intersection downtown, “I offered to help a homeless lady, and she said she didn’t want any help,” he said. “She doesn’t realize that living on the streets is not a good idea.”

More coordination needs to happen among the jail system, courts, homeless agencies and others, Mr. Schmand said. “It has to be a multi-pronged approach; there’s not a button you can push.”

tion of Miami 21: “…waterfront properties are defined as properties abutting Biscayne Bay, the Miami River from Biscayne Bay to the Miami River’s salinity dam, and the Miami River’s tributaries including Seybold Canal from Miami River to its terminus, South Fork from Miami River to the South Fork’s salinity dam, North Fork from Miami River to North Fork’s terminus, and Tamiami Canal from Miami River to Tamiami Canal’s salinity dam.”

To become part of Miami 21, the city commission must approve this proposed amendment.

The river commission, City Manager’s Office, the mayor and city commissioners have all championed the waterfront setback rules and need for public access to the water, and fought for extending the growing baywalk and riverwalk.

The city itself has spent big money to construct improved public walkways and dockage on portions of the bay and the river owned by the city.

One of the city’s latest projects is the revamping of Lummus Park on the river, which includes an expansive riverwalk and dock system.

Ross Report on Real Estate

by Audrey Ross

Top 3 Tips for Investing in Luxury Real Estate

Adding diversity to your investment portfolio can be done by investing in luxury real estate. A real estate investment can often lead to passive income, as well. No matter the type of investor you plan to be, with these three tips and a good real estate agent on your side, you can cash in on luxury real estate investment opportunities.

Set Investment Goals Without goals, you really don’t know where you’re headed when you invest.

Setting investment goals

means you have direction and you know what you’re after. You may need to set goals for the amount you want to spend and how much you want to profit.

Choose Your Market Choosing the market you plan to invest in involves more than just choosing a city or area. You must also know if you want to invest in condominiums, apartment projects or luxury homes. In a major metropolitan area, you may also need to choose the neighborhoods you want to target.

Secure Financing Whether you will use bank financing, your own cash or an investor/partner, you need to know where the money is coming from. This should be one of the first things you do.

For professional advice on all aspects of buying or selling real estate, please contact me at aross@miamirealestate.com or 305-960-2575, or come see me at the EWM Realty International office located at 355 Alhambra Circle, 9th Floor, in Coral Gables.

www.miamirealestate.com

TOMORROW’S INNOVATION TODAY

“You’ve got to give Miami lakes credit for cultivating a diverse, businessfriendly community.”

Miami Cardiac & Vascular Institute at Baptist Health South Florida has advanced care in the region for 30 years.

The Institute is composed of an internationally acclaimed team of physicians, top-tier clinical staff and a visionary leadership team, striving day in and day out to make unprecedented strides in our field. And with our new state-of-the-art facility, we stand ready to usher in the next generation of innovation in cardiovascular care. Experience the many advantages of cutting-edge innovation offered at Miami Cardiac & Vascular Institute.

Call 786-596-2700 or learn more at BaptistHealth.net/Heart WHERE BUSINESS GROWS

www.MiamiLakesBiz.com

John Kanas Chairman of the Board, BankUnited

A not-for-profit organization supported by philanthropy and committed to our faith-based charitable mission of medical excellence.

For giving opportunities, visit BaptistHealth.net/Foundation

8

MIAMI TODAY

TODAY’S NEWS

WEEK OF THURSDAY, MARCH 23, 2017

County creates team to review, update charter provisions

By Susan Danseyar

The Miami-Dade County Commission voted unanimously Tuesday to create a charter review task force and set its powers and responsibilities.

The charter – the county’s equivalent of a constitution – must be reviewed every five years. It has been five years since the last review.

Sponsored by Daniella Levine Cava and Chair Esteban Bovo Jr., the resolution had been unanimously approved earlier by the Government Operations Committee, yet Rebeca Sosa said she’s concerned for condominium owners.

Ms. Sosa asked: “Is there a mechanism for people who get caught up in the bureaucracy?

We removed items [such as appointments to the task force by the League of Cities, the Clerk of the Courts and the Chair of the Miami-Dade Legislative Delegation] but that purpose is not stated correctly. This is a task force for the county. I have a problem with no invitations to make recommendations.”

At the Feb. 14 Government Operations Committee’s meeting, Ms. Levine Cava reasoned that a broader membership was

‘Is there a mechanism for people who get caught up in the bureaucracy?’

Rebeca Sosa

appropriate given that the county charter applies to all of MiamiDade, including incorporated areas, and stressed that municipality input and representation is invaluable for county processes.

She added that representation from the Miami-Dade Legislative Delegation was similarly important in engaging more dialogue and conversations about concerns regarding pre-emption.

On Tuesday, Ms. Levine Cava pointedly said, “if we have a

task force, we’ll have the public who can comment, including the League of Cities.”

In February, Ms. Sosa stated that she would not support the proposed resolution if the task force included an appointee from the League of Cities. She explained her reasoning: that recommendations stemming from the charter review process impact only the commission, mayor and the administration of unincorporated areas. She argued that there should be a healthy separation from municipality input and involvement.

Ms. Sosa in February spoke about the challenges involved in maintaining focus during prior charter review proceedings and conceded to allowing the MiamiDade Legislative Delegation to appoint one member to the task force.

Ms. Levine Cava accepted Ms. Sosa’s amendment to reduce the task force from 17 members to 15 – 13 of them appointed by each county commissioner, one by the mayor and one by the Miami-Dade Legislative Delegation member. If the chair of the legislative delegation declines to participate, the mayor would get two appointees.

Commissioner Joe Martinez inquired at the February meeting

‘If we have a task force, we’ll have the public who can comment, including the League of Cities.’

Daniella Levine Cava whether the Office of the Inspector General (OIG) has the authority to investigate municipalities receiving county funds and explained that he believed the OIG should be included in the task force.

Deputy Mayor Edward Marquez confirmed that the OIG did have the authority to audit county funds disbursed to municipalities through the People’s Transportation Plan (PTP) and the Citizen’s Independent Transport Trust (CITT) and noted that the county’s

auditor also performed audits on those funds.

Mr. Martinez expressed his desire to include the OIG in the Charter Review Task Force and vowed his support for the item as presented or as amended.

Chairman Dennis Moss commented at the February meeting that the best action at that point might be to forward the proposal to the full county commission without recommendation given the nature of the discussions.

Ms. Levine Cava accepted the proposed amendments and welcomed more extensive discussions regarding the membership and composition of the task force during consideration of the item by the full commission. She expressed her desire to hear from the public regarding the creation of the task force and stressed the importance of public participation during the charter review.

Commissioner Sosa proposed further amending the item to require the full commission to identify areas of concern in the charter that might need to be revised, and based on the commission’s findings to create the Charter Review Task Force.

The committee voted on membership but not to limit topics that the task force could consider.

Hardemon seeks a 240-day hold on Legions West project

By John Charles Robbins

A second Miami city commissioner is going after a provision in the zoning code that allows for large-scale developments with relaxed conditions called Special Area Plans, or SAPs. Commission Chairman Keon Hardemon proposes a moratorium on SAPs near Biscayne Bay to give planning staff more time to review current regulations and adopt revisions.

His proposal is on today’s (3/23) commission agenda for a first reading.

The ordinance would establish a 240-day moratorium on the acceptance of new applications for special area plans, for SAPs encompassing properties zoned as Civic Space within 500 feet of Biscayne Bay. Without specifically naming the project, the moratorium targets the Legions West project, a planned special area plan incorporating some of city-owned Legion Memorial Park in Edgewater to meet the 9-acre threshold for a SAP, which has caused an uproar in the neighborhood.

ACRE GCDM Bay Investments LLC plans Legions West, a major mixed-use residential and commercial project, east of Biscayne Boulevard, north of Northeast 64th Street and west of Biscayne Bay. In response to an inquiry from Miami Today, an attorney for the developers, Iris Escarra, said they are aware of Mr. Hardemon’s proposal but have no comment on it.

Miami 21, the city’s zoning code, says the purpose of a Special Area Plan is to allow 9 abutting acres or more to be master planned to allow greater integration of public improvements and infrastructure, and “greater flexibility so as to re-

Keon Hardemon asks moratorium.

The moratorium targets Legions West, a special area plan that includes some of the city’s Legion Park.

sult in higher or specialized quality building and Streetscape design.”

In order to meet the 9-acre threshold for an SAP, about 1.85 acres of the abutting Legion Park would have to be incorporated into the Legions West project.

City officials were considering becoming a co-applicant on the special area plan.

It was Mr. Hardemon who arranged for a Jan. 18 town hall meeting on the Legions West project that brought out more than 200 Upper East Side residents opposed to the development, and in particular to using part of the public park.

Mr. Hardemon was joined at the town hall meeting by commissioners Francis Suarez and Frank Carollo and several city officials.

At the city commission meeting Jan. 26, Mr. Suarez moved to direct the administration to prepare an amendment removing the city

option to be a co-applicant to SAPs and make sure no city property is incorporated into a private SAP. The city’s involvement in a privately developed Special Area Plan is a conflict of interest, he said.

And using city-owned property to meet the 9-acre threshold is “problematic on a number of fronts,” Mr. Suarez said then.

Mr. Suarez, citing the anger voiced Jan. 18, said some residents see this as the city in cahoots with developers.

At the Jan. 26 commission meeting, Mr. Hardemon voiced reluctance about giving up an important planning tool. Becoming a co-applicant to an SAP affords the city the opportunity to “manage the development,” he said.

He said if that option hadn’t been available in Miami 21, the city wouldn’t have approved the Miami River SAP, which is destined

to bring major improvements to Jose Marti Park, extend the public riverwalk and generate funds for affordable housing.

But Mr. Hardemon did join the other commissioners in approving Mr. Suarez’s motion.

Mr. Hardemon’s proposed moratorium says city officials have determined they need more time to review the regulations.

The proposal notes that Miami 21 allows for property zoned as civic space to count towards the 9-acre minimum needed to apply for an SAP, and it says CS is the transect zone for park space.

The proposed ordinance says, “… allowing SAPs to utilize CSzoned property near Biscayne Bay and to construct large projects adjacent thereto could result in incompatible development adjacent to relatively rare and unique CS-zoned property near Biscayne

Bay, hampering the CS-zoned property’s ability to function as intended.”

The existing regulations “necessitate a thorough review and modification of the current SAP regulations in the Miami 21 Code and other applicable portions of the City Code to ensure any SAP containing CS-zoned property within five hundred (500) feet of Biscayne Bay does not have a deleterious effect on traffic, congestion, surrounding property values, city services, and on other aspects of the general welfare.”

A temporary moratorium will allow the city to determine how best to modify its SAP regulations to protect both quality of life and general welfare of city residents, businesses and visitors, it says.

Complete build-out of Legions West would see three residential towers with 476 units, 30,300 square feet of ground floor commercial uses, covered plazas and other civic spaces.

That, in addition to Phase I, already begun: a 5-story building with 237 residential units and 435 parking spaces, along with a new 15,000-square-foot facility for the American Legion.

10

TODAY’S NEWS

MIAMI TODAY

WEEK OF THURSDAY, MARCH 23, 2017

Science museum nearly done, entry cost queried

By Susan Danseyar

Construction of the Patricia and Phillip Frost Museum of Science is 96% complete and the museum is preparing for a May 8 opening, Mayor Carlos Gimenez reported Tuesday to the Miami-Dade County Commission.

Commission Chair Esteban Bovo Jr. said he still has a problem and “it doesn’t sit well with me that [entry] is still quite expensive for families. “I don’t know if we have the authority to ask [the museum] to review prices,” he asked the mayor.

The mayor said members of the administration sit on the board of directors. “We can’t dictate, but we can certainly ask the board and encourage them to have special rates,” Mr. Gimenez said.

As the museum nears completion, Mr. Gimenez reported, it has prepared an updated budget

for its opening year. The fiscal 2017 operating budget, with net operating income of $1,168,140, covers a 7-month period from March through September rather than a full year.

“This partial, first year takes into account costs of pre-opening phasing of staff and services necessary to operate, program and market the new museum,” the mayor wrote in a Feb. 27 memo.

The museum’s management used the baseline information from the operating forecast report prepared by a management consultant with expertise in preparing operating and maintenance budget estimates and then made adjustments for “new” information now available as it is closer to opening.

The current budget includes the costs of recently-concluded procurement of building insurance and marketing services as well as updated utilities, building

Photo by Marlene Quaroni

Museum President Frank Steslow took over in July after commissioners granted an added $45 million.

systems and maintenance costs.

“Once opened to the public, the museum will closely monitor actual expenses and adjust the budget as necessary,” Mr. Gimenez wrote.

As for operating revenues, the museum has been selling annual memberships and will begin marketing advance ticket sales as soon as the opening date is final,

he wrote. Work to restructure the museum’s board began in March 2016 to strengthen capacity for raising private sector funding toward operations expenses, he wrote.

The museum launched its new website at http://www. frostscience.org/ in early October 2016. The website includes information on membership, ex-

March 30 OFFERING A SEMINAR OR CORPORATE TRAINING PROGRAM? WANT TO PROMOTE YOUR SCHOOL OR ITS CURRICULUM? This special section will focus on the education needs that have shifted with the economy; what has to be done in the classroom; cooperating efforts among educational institutions; and educational outreach into the community and community in-reach into education.

Your ad message belongs in Miami Today: •Reach 68,000 business readers who value education.

•98% of readers are college educated.

•45% file information for future use.

•77% hold managerial positions.

All figures from a survey released in 2015 by Behavioral Science Research

Call 305.358.1008 for advertising information.

Deadline is Tuesday, March 28, at noon.

MiaMiToday A Singular Voice in an Evolving City

hibits, ongoing programs, events and museum news, among other details. Additionally, users can sign up to receive online communications, including a new monthly newsletter.

In addition to the building construction, which is the under the scope of the general contractor, Mr. Gimenez wrote, the museum has “an expert team of professionals who have led the design and fabrication efforts of the exhibits currently being installed in completed gallery spaces.”

Those include the planetarium, an aquarium that will feature aquatic animals, the Feathers to the Stars gallery that will feature interactive exhibitions and collection items such as a F5 fighter jet; the River of Grass gallery with a room-size “interactive and immersive experience;” the People and Science gallery; MeLab that will feature medical science and wellness content; and the Special Exhibition gallery which is finalizing the script for its opening show “LasersHOW.” On April 5, 2016, county commissioners authorized a grant agreement with the museum for $45 million, to be financed by convention development tax revenues.

In September 2016, Miami Today profiled Frank Steslow, who was named president of the Patricia and Phillip Frost Museum of Science on July 1. At the time, he said from his temporary office that when the museum opened its new facility downtown in the first quarter of 2017, it would be just the beginning of a collaborative relationship with the community. He said his goal is to build back credibility with those with whom a partnership had been established and continue building on it.

The complicated project of constructing the museum has many moving parts, Mr. Steslow said, and many parties put in a lot of time and energy, including the City of Miami and Miami-Dade County commissions, taxpayers and private contributors.

Ultimately, Mr. Steslow said, this is a community asset with a lot of space that can be programmed for other uses that haven’t even been thought of yet, but it’s going to be here for the next 100 years so there’s a lot that can be developed to launch the future.

Details: http://www.miamidade.gov/govaction/legistarfiles/ Matters/Y2017/170519.pdf

WEEK OF THURSDAY, MARCH 23, 2017

TODAY’S NEWS

MIAMI TODAY

11

Vote could add 300-room hotel to Genting’s Omni holdings

By Susan Danseyar

Miami-Dade commissioners should soon vote on a joint development at the county’s Omni Bus terminal and access to the Adrienne Arsht Center Metromover station in which Malaysian casino giant Genting plans a 300-room hotel over the bus terminal.

Miami-Dade’s Transportation and Public Works Committee on Thursday unanimously approved the concept from Genting subsidiary Resorts World Miami LLC and forwarded it to the full commission. It was a late addition to the agenda.

Mayor Carlos Gimenez wrote in a March 16 memo that the project includes a revenuegenerating mixed-use development, expected to have a positive economic impact on the community, that promotes maximum use of the transit system; provides functional and aesthetic integration of the Arsht Center station and Omni bus terminal into the overall project; and upgrades or redesigns the Metromover station, including replacement of stairs, elevators, escalators, surveillance systems and flooring while enhancing the ability to see and pedestrian access.

Commissioner Sally Heyman said she was reading the analysis for the first time but, speaking as a member of the county commission, emphasized “it doesn’t get better than what we have – a win, win win [for Miami-Dade].”

It’s excellent, Ms. Heyman said, with an agreement that has the developer making payments to the county. “This is exceptional to all the partners and staff that’s been involved.”

According to Mr. Gimenez’s memo, the Omni bus terminal and Arsht Center Metromover Station, the development site, consists of seven contiguous parcels totaling 0.987 acres. The negotiated agreements for the development site with Resorts World – which owns the Omni across the street and the old Miami Herald site to the east where it had promoted what would have been the world’s largest casino – consist of a development and lease agreement as well as an easement.

“The easement is needed for construction-related development site ingress and egress,” the mayor wrote. In its proposal, Resorts World said it will also make numerous upgrades valued at about $22 million. Under the development agreement, Mr. Gimenez reported that Resorts World would submit all design and construction plans to the Department of Transportation and Public Works to review before starting work.

In addition to increasing density around the Metromover station, the project would provide substantial long-term revenue for Miami-Dade over the 90-year initial lease, with the developer paying $100,000 minimum rent per year through construction. Thereafter, Mr. Gimenez wrote, the developer would make a one-time $10

The bus depot site where the hotel would rise is beside Metromover station and across from the Omni.

million payment to the county portion or $300,000 per year. create 1,871 jobs and, once and then the greater of 50% of In addition, the project in completed, 171 direct jobs. “It gross revenues from the retail construction is forecasted to will also stimulate the creation

of 100 additional indirect jobs and provide significant revenue to the county and City of Miami in the form of taxes and impact fees,” the mayor wrote.

Committee Chair Bruno Barreiro asked when the project would be completed, as he likes to “go to ribbon cuttings, not ground breakings.”

Transit Chief Alive Bravo explained the developer would have four years to begin and the department would be receiving funds right away that would be put back into the transit system.

Committee member Dennis Moss asked if commissioners could see conceptual drawings to get an idea of what’s happening.

Ms. Bravo showed a drawing and said she’d email copies to all commissioners.

It might have been difficult for the committee to see her drawing, but Ms. Bravo explained that the bus facility is currently outside. Under the plan, she said, Resorts World would build an air-conditioned terminal.

Miami Today offers the advertiser the most powerful 3

’s

Credibility

77% rank Miami Today higher than any other local publication for credibility of business and civic news. It’s safe to say Miami Today tops them all!

Credentials Mean household income of $259,499, 98% college educated,62% at managerial level and 43% involved in international business.

Circulation An average circulation of 27,500 copies and 68,000+ readers blankets the prime areas for business and upscale residential high-rises

The bottom line: Miami Today will deliver the results you’re looking for.

Our readers are paying attention To reserve your advertising space contact Carmen Betancourt-Lewis at 305-358-2663 or email cblewis@miamitodaynews.com

And it is not Vitamin C!

MIAMI TODAY

WEEK OF THURSDAY, MARCH 23, 2017

13

Banking & Finance

Banc of America fuels diesel fleet as county looks to electric

By Susan Danseyar

Banc of America Public Capital Corp. will provide $26.5 million for lease/purchase of vehicles for the county’s Department of Solid Waste Management and pay financing costs.

The Miami-Dade County Commission on Tuesday unanimously approved the selection and authorized the administration to enter into the agreement.

Commissioner Bruno Barreiro said while he agrees the vehicles are needed, the problem he sees is “the right hand isn’t talking to the left because we stated we’d get the best bang for the buck.” At issue, Mr. Barreiro said, is that the trucks will be diesel rather than compressed natural gas (CNG).

He said the county isn’t taking advantage of its procurement to convert its entire fleet to CNG when the Department of Solid Waste – in 2017 – is going with diesel.

Mayor Carlos Gimenez said he agrees with Mr. Barreiro. “We tried to stall as much as possible on this equipment but the department couldn’t wait,” he said. “I wish we could wait longer, but it’s a question of timing.” The mayor explained that the trucks must be replaced right now.

“I’m with you 100%,” he said to Mr. Barreiro. “We might be able to hold off until battery-operated and/or electric trucks become available, because it does make

sense for us to [go entirely] electric.”

However, the mayor stressed, the trucks are falling apart, but “we’ll buy as few of these that we can.”

Commissioner Daniella Levine Cava asked to clarify if the vehicles are hybrid.

“It’s advancing us, but not as much as the mayor would like,” she said. “Some day it will.”

The Finance Department proposed the resolution.

Banks wary of bill to let credit unions be public depositories

By Catherine Lackner

Bankers are closely watching bills that are making their way through the 2017 legislative session.

At the top of the list for many is Senate Bill 1170, which would allow credit unions to become qualified public depositories if they meet certain requirements.

That means they could receive municipal funds for deposit.

“Our guys are totally against it,” said Anthony DiMarco, executive vice president of governmental affairs for the Florida Bankers Association. “To us, it’s ironic that they’re taking in tax money, and loaning it back out, when they don’t pay taxes.”

The bill has passed several committees and had “two more stops” before it hits the Senate floor, Mr. DiMarco said Monday.

The fight between banks and credit unions is historic. Though they aren’t large enough to threaten national banks, several Florida credit unions, including Tampabased Suncoast, Jacksonville’s Vystar and Melbourne-based Space Coast, have assets that rival those of small banks.

“These are multi-billion-dollar credit unions,” Mr. DiMarco has said. “They make it harder for commercial banks to make loans,” and offer unfair competi-

Florida Bankers Association is watching credit union issues, marijuana legislation in current session.

tion because they are non-profit organizations and so pay no taxes.

“Half of all small-business loans in America are made by commercial banks,” he has said.

“These loans allow the business to grow, and then the business will generally go to a larger bank.”

And there is another conse-

quence that should cause concern in Tallahassee, he said. As credit unions take an ever-growing piece of the banking pie, “that is less and less tax revenue for the state,” he has said.

A challenge has once again been filed regarding the Property Assessed Clean Energy (PACE)

loan program, he said.

Through the PACE program, homeowners can get publicly funded loans to improve their properties with “green” technology, like solar panels or renewable energy. The improvements are financed through a long-term property assessment.

“But it jumps your mortgage,” Mr. DiMarco has said, meaning the PACE loan must be paid off if the home is sold, and then the mortgage is satisfied. “We want parity with the PACE loan,” he said Monday.

In November, Florida voters approved the sale and distribution of medical marijuana, but the issue is problematic for banks that accept marijuana sale proceeds as deposits.

Various marijuana regulation bills are making their way through the legislature, Mr. DiMarco said, and the bankers’ association will probably tag an amendment on one of them that will protect banks from prosecution when they accept funds from the legal sale of marijuana.

Nationally, it’s a different story, because the federal government still considers marijuana an illegal drug, he said.

The matter was broached in meetings in Washington, in which banking industry representatives asked government officials whether there would be a federal safe harbor for banks if all state laws were followed.

“The federal officials implied – but didn’t say outright – that banks should not do it,” Mr. DiMarco said. “Their words were, ‘there will be problems in the future.’ ”

College begins international credit training with 13 students

By Catherine Lackner

The first of three classes of an international credit training program at Miami Dade College’s Center for Financial Training has kicked off with 13 students enrolled.

“It was a very good turnout,” said Connie Laguna, center president and CEO. “We are capping enrollment at 12 to 14, as there is a lot of one-on-one attention with each participant.”

Enrollees are “a mix of analysts and private bankers,” Ms. Laguna said. Two full-day classes remain in the program, which costs $999 and counts toward the center’s Credit Analysis certification. “It is a very practical series with a case study the carries through all three sessions,” she said.

Last year, the center teamed with the Florida International Bankers Association (FIBA) to create the program.

“There has always been a demand for credit training programs, but none have

been offered with an international twist,” Ms. Laguna said when it was announced.

“Both organizations agreed that it was time to collaborate and provide this service to our banking community.”

“An important part of FIBA’s mission is to educate and benefit the financial services industry in the area of international banking and finance,” David Schwartz, that organization’s president and CEO, said then. “The Center for Financial Training is the perfect organization to partner with for this endeavor.”

Instructors for the series include Fernando Capablanca, a director at City National Bank; Abel Iglesias, president and CEO at Professional Bank; and Roberto Pelaez, chairman of the Miami-Dade County Industrial Development Authority and past president of Bank of Florida, Miami-Dade County.

Though it is condensed and compressed, the program harks back to the management

training programs – some as long as 18 months – that were offered by titans such as Southeast Bank and Barnett Bank, Mr. Iglesias said last year. “They invested in talent, and in developing bankers,” he said.

Those banks are gone, most swallowed up by national banks or out of business for other reasons, but the need for credit training lives on.

“Anybody who desires a career in the financial services industry or in commercial banking would benefit from credit training,” he said. “It allows you to function intelligently in that space and makes you a well-rounded banker.”

Most banks these days don’t have the time or resources to properly train staff in credit analysis, he said. The course will cover topics including how to analyze an application, review tax returns and structure a successful deal, Mr. Iglesias said.

“It’s a very good skill set to have, and absolutely essential for folks who want to

get into commercial lending. It’s a very nice collaboration with FIBA, which has really stepped up to the plate. We’re very excited about it, and think we have a lot of value to bring.”

The demise of the bank management training programs of the past “is a loss,” said Wayne Miller, senior vice president and chief credit officer at Marquis Bank, when the credit training program was announced.

“They would take kids just out of college and people who were already in banking and ready to move ahead, and recruit them into training,” he said. In New York, where his career began, such programs were common.

“When I look for a new credit analyst, it’s good to know that they have had some training, developed that insight, and are ready to look at deals. Really, on the job you don’t have time to train them, to get them over that hump. There are senior management people teaching this course. It’s needed, and very beneficial.”

24

WEEK OF THURSDAY, MARCH 23, 2017

MIAMI TODAY

MIAMI TODAY, A CONSTRUCTIVE WAY TO SPEND YOUR BREAK Subscribe to our E-paper only $60 a year • Easy to read and navigate • Unlimited access to 11 years of searchable archives • New issues available before print edition

Get a free demo at www.miamitodayepaper.com

Wherever you are, Miami Today can be

MiaMiToday