FYI Miami: July 3, 2014
ENTERPRISE ZONE ENTERPRISE: What’s the impact on Miami-Dade of a state tax-incentive program that encourages businesses to set up shop in distressed areas? That’s to be the subject of a county report. A similar state study this year found that the Enterprise Zone Program had a negative return on investment. But the county has set out to do its own analysis, which is to include statistical and anecdotal data showing the effectiveness of the Florida Enterprise Zone Program on Miami-Dade. County staff is to also recommend amendments to the state statute that provides for the program that would improve the initiative. Through the Enterprise Zone Program, both state and local governments provide tax incentives, such as tax credits and sales tax refunds, for businesses to locate in areas that could use an economic boost. The program is to expire at the end of 2015 and could only be extended through a vote by the legislature. Chairwoman Rebeca Sosa sponsored the county-study initiative, which commissioners approved Tuesday.
SHRINKING FOOTPRINT: The US Postal Service is considering relocation of two facilities in Miami. The retail services of the USPS’s Metro Finance location, 200 S Biscayne Blvd., Suite 600A, and its Brickell Postal Store, 1101 Brickell Ave., would be moved to new, smaller sites, reports Sandi Rybicki, a USPS real estate specialist. She notified city officials at the June 26 city commission meeting. The move is part of the service’s efforts to reduce costs, she said. The USPS is legally required to seek public input on changes like these. The plan is to move the Brickell location from its 3,559-square-foot space to one that is 2,331 square feet, and the Metro location from its 2,300-square-foot space to one that is 850 square feet. Comments can go through July 11 to: Vice President, Facilities, Sandra A. Rybicki, Real Estate Specialist, USPS Facilities Implementation, PO Box 667180, Dallas, TX 75266-7180.
HOTEL NUMBERS: Greater Miami’s hotel industry performed well from January through May, ranking second in the nation among major US markets, the Greater Miami Convention & Visitors Bureau said this week. The Miami market’s occupancy rate for the five-month period was up slightly from a year earlier at 82.9%, second only to Oahu Island in Hawaii at 83%. The average daily room rate in Miami during that period also was up to $215.34, second only to New York City at $240.58 a night. In addition, Miami’s revenue per available room, a combination of occupancy and room rate, was up to $178.48, second again to New York at $195.18.