FYI Miami: February 26, 2015
RISING RENTS: Annual effective rent growth in South Florida apartment markets continued to strengthen in January, according to Axiometrics, a company that supplies apartment market research and analysis. The average Miami rent of $1,545 was $93 more than the January 2014 average of $1,452. Miami’s January 2015 occupancy of 96.2% was relatively stable compared with that of January 2015.
WATCHFUL TECH: Miami city commissioners have authorized purchasing from Argent hardware/software network monitoring tools for the Department of Information Technology on a three-year contract with two one-year renewal options. The cost is about $98,240 for five years. The city now doesn’t have tools to monitor hardware/software and networks to circumvent potential disasters. Argent software is to enable IT to monitor the city’s more than 300 servers, databases, software applications and network appliances. Staff said key IT personnel will be able to manage their applications and make adjustments to reduce downtime. The commission confirmed the city manager’s finding of a sole source, waiving requirements for competitive sealed bidding.
OUT OF THE ORDINARY: Miami commissioners have approved 22 covenants with property owners in the Design District to construct and maintain non-standard improvements within the right-of-way abutting their properties. In July 2012 the city commission adopted a Special Area Plan for the Design District that includes non-standard improvements in the right-of-way. Design District property owners have agreed to enter into covenants to run with the land that cover their properties, so applications for master permits may be submitted from time to time that contain the proposed location and design of the improvements. Improvements include pedestrian crosswalks and signals, way-finding signs, streetlights and façade lighting, streetscape, drainage wells, private infrastructure crossings, street furniture, public art and utilities.
CIRCLE UPKEEP: The maintenance of traffic circles in Miami will be handled by SFM Services Inc., a Hialeah company. City commissioners approved a one-year contract, agreeing to pay $318,688 for the work, which includes landscaping work for Dr. Martin Luther King Jr. Boulevard, 118 traffic circles citywide, Butterfly Garden, 11 triangle medians and the Northwest 62nd Street embankments of I-95. SFM submitted the lower of two bids. The contract provides up to four additional one-year options to renew, subject to the availability of funds and the contractor’s performance. Commissioners must approve of any renewal of the agreement.