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Front Page » Transportation » Mayor broaches new taxes for Strategic Miami Area Rapid Tran

Mayor broaches new taxes for Strategic Miami Area Rapid Tran

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Written by on March 14, 2017

Mayor broaches new taxes for Strategic Miami Area Rapid Tran

Mayor Carlos Gimenez has asked Miami-Dade commissioners if they might consider raising countywide millage or assessing another half-percent sales tax to help fund the Strategic Miami Area Rapid Transit (SMART) plan.
In November, commissioners directed the mayor to analyze using tax increment financing (TIF) to help fund the plan and infrastructure near the planned American Dream Miami Mall, the mayor wrote in a March 7 memo.
“TIF financing is one of many possible alternatives that can be used to fund future capital projects as well as operational and maintenance costs of the SMART plan,” Mr. Gimenez wrote.
As discussed at Commission Chair Esteban Bovo Jr.’s Policy Council last week, Miami-Dade is still refining expense assumptions for the SMART plan, the mayor explained. “Preliminary capital cost estimates greatly surpass the estimated net present value of the current 40-year Transit and PTP [People’s Transportation Plan] pro-forma developed for fiscal 2016-17 and the estimated operating cost to implement the new and existing system and maintain it in a state of good repair will create a substantial budgetary gap in the PTP pro-forma.”
The mayor said given that SMART plan needs will probably exceed incremental revenue generated by any TIF district, the county “may want to consider enhancing the revenues available by dedicating a higher mileage rate and/or assessing another half penny for transportation purposes.”
Traditionally, Mr. Gimenez said, governments have used TIF districts to encourage economic development in distressed areas. However, he noted, state statute does allow creation of TIF districts for transportation.
The mayor concluded that TIF districts should be considered as part of a larger approach for revitalizing neighborhoods and attracting development in conjunction with alternative transportation options.

2 Responses to Mayor broaches new taxes for Strategic Miami Area Rapid Tran

  1. Debbie Reply

    March 19, 2017 at 9:56 pm

    No more taxes! It already cost a fortune to drive on MDX roadway.

  2. Steve Hamilton Reply

    March 23, 2017 at 8:45 pm

    Why is it that government people always look first for more money, rather than looking for how to do it cheaper ? We’re spending $42M for 3 studies, with 3 more to follow, before we do anything. Then they will spend $65M per mile for 80 miles, so trains can carry roughly what they do now – 8 people per train on average (all numbers from public data). Clearly there IS a cheaper way, and less disruptive too.

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