Written by Miami Today on September 1, 2011
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FILL PLAN: By using land unearthed by the billion-dollar Port of Miami tunnel project to fill its Virginia Key 116.5-acre landfill site, the City of Miami will remain within the $45 million in county bonds allocated toward turning the site into useable park space, City Manager Johnny Martinez said at the most recent city commission meeting. Without this, the city would have had to pay for fill, risking budget overruns. The tunnel-fill material is to be tested by the county’s Department of Environmental Resource Management and must be cleared as clean enough for residential use before it’s added to Virginia Key, Mr. Martinez said. Turning the Virginia Key landfill site into usable space is part of the Virginia Key Master Plan, adopted by Miami commissioners in July 2010.
PENDING SALES RISE: Pending Miami-Dade home sales for July rose 19% from a year ago, from 10,113 to 12,014, according to the Miami Association of Realtors and the local Multiple Listing Service. The number of single-family homes and condos under contract in July alone jumped 22%, from 2,759 in July 2010 to 3,359. A sale is listed as pending when a contract is signed but the transaction has yet to close, which typically takes one to two months. "Despite unnecessary restrictive mortgage credit and home appraisal practices, Miami continues to exhibit signs of a healthy and balanced real estate market," said Jack H. Levine, the association board’s chairman.
AIR INITIATIVES: Miami-Dade officials are refusing to throw in the towel in the bid to bring an international aerospace show to Homestead. The county commission is to hear today (9/1) an item urging the Air Force to reconsider its decision not to support the Miami International Aerospace show at Homestead Air Reserve Base being pushed by the Beacon Council, the county’s public-private economic development organization. According to county documents, while the commission agreed to commit up to $7.5 million in Building Better Communities General Obligation Bond proceeds for public infrastructure improvements in May, in August the county was notified that the Air Force "was not in a position to support the Miami International Show at Homestead Air Reserve Base in November 2012."
BALLPARK EATS: Terranova Corp. which Miami commissioners selected in July to lease 53,281 square feet of retail space at the city-owned Marlins stadium garages, is already seeing "a tremendous amount of interest" from prospective tenants, Executive Vice President Mindy McIlroy wrote in an e-mail. Most inquiries are from food establishments, she said. The ballpark is to open in April, leaving Terranova seven months to fill the garage retail by the first game of the 2012 baseball season. Complete coverage, including The Insider and all information columns, is available in the e-edition. Sign up at www.miamitodaynews.com