North Miami To Seek Tax Help For Redevelopment
Written by Samantha Joseph on November 25, 2004
By Samantha Joseph
A major makeover is on the way for North Miami as the city plans to seek tax revenue next month from Miami-Dade County to redevelop its central business district and other neighborhoods.
The effort is part of a plan to create a community redevelopment agency to oversee long-term expansion of business and residential projects. City officials want to boost economic conditions by bringing residents and investors to more than 400 acres east and west of Biscayne Boulevard.
City officials plan to pursue an agreement with Miami-Dade that would see the county relinquish some of the taxes it earns from North Miami. If successful, the city would use the money to help pay for redevelopment.
North Miami administrators expect to complete the deal with the county before Dec. 31 but say they have years of work ahead of them.
The area for redevelopment includes 193 acres at 15055 Biscayne Blvd. purchased by Boca Developers/Swerdlow Group, which is planning a $1 billion community called Biscayne Landing. The property was once known as Munisport because it was targeted for a sports complex that never materialized.
The new owners, in a venture with the city, now plan a $1 billion community to feature affordable housing, 100,000 square feet of retail space and 5,000 condominiums.
"What we will be doing is revamping major corridors of the business district in the downtown portion of the city," said City Manager Clarance Patterson.
The first step was to declare much of the area marred by blight conditions and move to manage its long-term growth through a master plan set to be complete by mid-2005.
"It may take several years to do this," Mr. Patterson said, "but we’re hoping to generate significant revenue to revitalize the area."