Written by Miami Today on March 24, 2011
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TAX BREAK: Miami commissioners are to vote today (3/24) whether to give developer Tibor Hollo a break by reimbursing him for tax-increment funds he pays to the Omni Community Redevelopment Agency for his planned 1701 NE Fourth Ave. Sonesta Mikado Hotel & Residences, the last piece of a large, mixed-use development. Under the "economic incentive agreement," the agency would reimburse any tax-increment funds generated from the hotel and commercial portion of the project to the developer up to $600,000 a year. In exchange, the developer is to give City of Miami residents hiring priority for the 268 full-time jobs projected in the construction and operations of the development. The agreement would expire if the agency dissolved.
LOBBYING THE FEDS: To keep lobbying of federal agencies and Congress for legislative issues and appropriations afloat, the City of Miami Omni Community Redevelopment Agency is looking to renew its lobbying agreement with Akerman, Senterfitt & Eidson. The contract, to be voted on today (3/24), is for two years starting April 1 at up to $24,000 a year "plus reasonable expenses as approved by the Executive Director," according to agency documents. The agency’s previous lobbying contract with the firm expired in January. A companion item is on the same day’s agenda from the Southeast Overtown/Park West Community Redevelopment Agency.
MUSEUM PARK PLAT: Four months after contractors ceremoniously broke ground in Bicentennial Park, the Miami-Dade County Commission has approved the plat of land designated to house the Miami Art and Miami Science museums. The plat, approved March 15, is bounded by the MacArthur Causeway on the north, Biscayne Bay on the east, Northeast Eighth Street on the south and Biscayne Boulevard on the west. Plat restrictions forbid use of individual wells, septic tanks and above-ground electric and communication lines. According to a report by former County Manager George Burgess, the Miami Art Museum is line to receive up to $79 million in the next series of Building Better Communities General Obligation Bond sales, while the Miami Science Museum could receive up to $11.2 million.
SELLING FASTER: Miami-Dade residences are staying on the market less time than a year ago, but it still takes 108 days to sell the average single-family home and 116 days to sell the average condo, according to the Miami Association of Realtors. Last February it took 114 days to sell a house, 118 to sell a condo. Sales of condos rose 58% in February to 859, while home sales rose 21% to 540 from a year ago.
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