Written by Miami Today on June 24, 2010
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BONDING BATTING ORDER: Bonding to fund Miami’s $50 million share of underwater tunnels to the seaport is up next after the city issues debt to finance parking at the new Marlins ballpark, City Manager Carlos Migoya says. Officials will probably start preparing for tunnel bonding in the next couple of weeks to be a month or two behind the upcoming stadium parking bond sale, he said. Tunnel bonding, to be backed by Omni Community Redevelopment Agency dollars, still needs agency board approval. March projections showed $96.7 million due in principal and interest over 20 years, which would consume about two-thirds of what’s left of agency cash flow after almost half is funneled to the performing arts center downtown.
HEALTH CARE THINK TANK: The University of Miami has established a Center for Health Sector Management and Policy through its School of Business Administration. The center is to conduct research, offer consulting to both the health care and business sectors and provide health care field training. The center’s "experts bureau" includes business school faculty and health care management experts at the ready to advise. Its consult practice is to aid healthcare entities in processes, supply chain management, cost-effectiveness analysis, compliance, management and more. And on tap as one of the first education programs: business certification for physicians.
STILL RISING: May condo sales in Miami-Dade rose 70% and single-family homes 22% in comparison to the same period last year, according to a report released Tuesday. Sales in the local housing market have increased each of the past 22 months, a sign of stabilization for South Florida’s badly-hit housing market. Statewide, sales increased 40% for condos and 18% for homes in May, both below Miami-Dade’s growth figures, said the Realtor Association of Greater Miami and the Beaches and the Southeast Florida Multiple Listing Service. "The median sales price for single-family homes has risen for two consecutive months and average sales prices for both condominium and single-family homes have risen over the last few months, another sign that cements the local market’s strengthening," said Terri Bersach, the realtor association’s chair. The median sales price for homes ascended 1% to $196,700, while the median sales price for condos fell 3% to $126,100 last month. With more sales closing, residential inventory has dropped 19.3% from 30,631 to 24,721 since May 2009, the report says. And the number of days a property stays on the market fell 7.4% for homes, though it climbed 2.4% for condos.