WEEK OF THURSDAY, JUNE 29, 2017
A Singular Voice in an Evolving City
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PLANNERS ASK EXPRESSWAY AUTHORITY TO BUILD AND RUN A SMART PLAN CORRIDOR, pg. 2 PLAYHOUSE DRAMA DELAYED: A scheduled June 22 showdown between county officials and historic preservationists over the fate of the Coconut Grove Playhouse has been put off. Miami city commissioners were to hear an appeal of the Historic and Environmental Preservation Board’s April 4 decision granting a special certificate of appropriateness for partial demolition of the playhouse, reconstruction of a theater, and construction of a public parking garage with residential units at the Coconut Grove Playhouse site. The aging famous venue is in Commissioner Ken Russell’s district. He requested a deferral to July 27. The state owns the theater and leases it to Miami-Dade County.
The Achiever
BOARD FAVORS NATURE: The Virginia Key Advisory Board on Tuesday voted to recommend that the Miami City Commission amend a city application for a grant to build a seawall, dock and kayak launch at Jimbo’s lagoon, by eliminating the seawall from plans and replacing it with a living shoreline, and eliminating any fixed or floating dock from its plans. The resolution notes that if it’s too late to amend the grant application to the Florida Inland Navigation District, the board recommends withdrawing the application entirely. The secluded area is on the northeast corner of the barrier island, the bulk of which the city owns. Some board members have been critical of the city’s $2.8 million project called the Virginia Key Nature Center, which includes a new seawall, dock, kayak launch, concrete walkway and pavilions. Those changes, they say, would encourage power boats and overuse of a site that ought to be nurtured for its nature. CASH A GLOBAL KING: More than half of Miami’s resale condo closings in May were for all cash, the Miami Association of Realtors reports, far ahead of the 24.6% of single-family home sales that closed with all cash. The association attributes large numbers of cash closings to international buyers, who the association says “tend to purchase properties in all cash.” Of May’s total resale closings, 39.4% were for all cash, down from 47.2% last May but still almost double the national figure of 22% of all resale closings in cash. TRAFFIC ALERTS: The Department of Transportation and Public Works will post a notification 14 business days prior to removal of traffic control devices from county roads. The notification will be on Miami-Dade’s website and other available social media, according to a report the county commission received this week. If the location falls within a municipality, the department will also notify the affected municipality by email. Details: http://www.miamidade.gov/govaction/legistarfiles/Matters/Y2017/171543.pdf
Michael Finney
Photo by Cristina Sullivan
New CEO focusing Beacon Council on job creation The profile is on Page 4
City bonding wish list five times more than total By John Charles Robbins
The wish list for City of Miami general obligation bonds has topped out at $1.5 billion – more than a tad over the projected cap of $275 million. It means officials face tough decisions to trim the wants and needs list to something more realistic. It appears a large portion of the money may be earmarked for sea level rise mitigation and flood prevention. Assistant City Manager Fernando Casamayor updated the city commission on the proposal June 22, citing good participation from residents at several meetings on the bonds, which are designed to fund needed capital improvements for the foreseeable future. Mr. Casamayor said the plan is to have a final proposal ready for commission approval in July so the bond request can go on the Nov. 7 ballot. Mayor Tomás Regalado says a general obligation bond is under consideration because the city has infrastructure needs of significant magnitude. Mr. Casamayor said, “We have over a billion and half dollars worth of requests and
identified capital needs.” To generate debate on possible ways to spend funds raised via bonds, Mr. Regalado and Budget Director Christopher Rose listed $275 million in projects. Mr. Regalado, who is term-limited and in his last year in office, said he’d like the bonds plan to be called Miami Forever. The mayor has said immediate attention is needed to deal with climate change and sea level rise. The proposed list he presented with Mr. Rose would allocate $100 million to sea level rise mitigation and flood prevention. The list also includes police and fire equipment and infrastructure, road improvements, workforce housing, citywide park improvements and safety features, community trails and bike paths, and historic preservation. Commissioner Wifredo “Willy” Gort has suggested a focus on projects with citywide impact. Jane Gilbert, the city’s chief resilience officer, thanked commissioners June 22 for taking a citywide approach to shoring up vital infrastructure, particularly to prepare for sea level rise. She said it is a both critical and opportune time to present this to voters as a strategic and
forward-thinking investment opportunity, and “the cost of inaction is very high.” With one of its borders being Biscayne Bay, the city has been referred to as Ground Zero in the battle against rising oceans. Ms. Gilbert spoke of the tremendous risk the city faces, stating “we have a lot at stake here, with the most exposed assets” – more than $74 billion worth of appraised value lies within storm surge zones. “We need to demonstrate how we’re going to mitigate flood risk, to keep insurance rates intact,” she said. Ms. Gilbert said the National Oceanic and Atmospheric Administration reports 17 to 20 King Tide days a year currently but projects they will number about 49 in 2030 and more than 200 in 2045. She said it’s important for the city to work with the Florida Department of Transportation and Miami-Dade County on infrastructure needs. “And we can leverage other private funders,” she said. Ms. Gilbert mentioned other resilience issues the city faces, including transportation and affordable housing needs. “We need a smart, cost-effective, forwardthinking plan,” she said.
Intensified competition in our inns The gains at Miami area hotels from an April rebound disappeared in May as most indicators slipped a notch or more, the authoritative STR Trend Report unveiled last week shows. What didn’t slip was the rapid gains in number of hotel rooms in the Miami market, relentlessly higher numbers that tend to drive down the averages in rates and occupancy throughout the market. At the start of this year the Greater Miami Convention & Visitors Bureau reported that 14 new hotels were expected to be coming into the market throughout 2017, increasing the available room supply by 2,215 rooms. In the year’s first five months, the area has already added six hotels and 769 rooms, STR figures show. Throughout 2016, the area added 17 hotels and 2,337 rooms. At the end of May, the Miami area had 426 hotel properties with 55,394 total rooms. Exactly six years earlier, at the end of May 2011, the Miami area had 370 hotels and 47,925 total rooms. “Every new hotel that comes into the community is an opportunity for us to bring new customers, but we also understand that all the new inventory adds a lot of pressure to our existing hotels,” Rolando Aedo, the convention bureau’s executive vice president, said at the outset of this year to explain the impact of room growth. The impact was certainly visible in May, with occupancy down 2.4% from May 2016, daily room rates down 1.7% in that period and revenue per available room off 4.1% as the total number of room nights available in the marketplace rose 4.4% but demand couldn’t keep pace, even with a 1.9% room bookings rise. In April, occupancy had been up four-tenths of a percentage point, average daily room rate up 2.3% and revenue per available room up 4.6% Even with a supply growth of 4.8% in total room nights that could be booked in the market and an actual gain of 3.6% in those bookings, total hotel revenues in the market for room bookings have slipped so far in 2017, STR figures show, off 1.5% to $1.415 billion total as even more bookings brought in lower revenues at lower actual rates received in Miami hotels.
LINCOLN ROAD LAYS OUT A NEW KIND OF WELCOME MAT ...
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COUNTY URGED TO PREVENT MORE HARM TO SEAGRASS ...
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VIEWPOINT: GOOD NAMES TARNISHED IN HOUSING PROBE ...
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TWIN 36-STORY TOWERS IN OMNI GET CITY’S APPROVAL ...
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COUNTY SEEKING THE REDESIGN OF TURNPIKE OFF-RAMP ...
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REINSURANCE RATES DIP LOWERS COMMERCIAL COSTS ...
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SMART PLAN PARK & RIDE LOT IS EARLY, UNDER BUDGET ...
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MIAMI ON ISLAND GARDENS DEFENSIVE, AMID FRICTION ...
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