FYI Miami: September 24, 2015
Below are some of the FYIs in this week’s edition. The entire content of this week’s FYIs and Insider sections is available by subscription only. To subscribe click here.
PRICES STABLE: Miami-area prices stabilized over the past two months, remaining 1.3% higher than this period last year, the latest Consumer Price Index released last week showed. Eating became more expensive, as food prices rose 1.1% during the two-month period, led by a 1.4% increase in the “food at home” index. Prices for utility gas service decreased 1.8%, while prices for electricity were unchanged. Medical care costs and primary residence rent were among categories with the highest year-over-year increase, both surpassing 6%.
WORLDCENTER ELECTION: The Miami Worldcenter Community Development District held its landowners’ election Sept. 16, when the district’s five-member board was officially approved. Landowners attending were Michael McGraw, representing The Forbes Co., and Neil Eisner, a proxy holder for six different land-owning entities. Following suit with the initially appointed board, John Chiste was voted chair, Mr. Eisner vice chair, and Steve Colamarino, Joe DiCristina and Cora DiFiore assistant secretaries. Mr. Chiste and Mr. Eisner are to both serve four-year terms, while the rest of the board members are to serve two-year terms. The district will become a financing mechanism for community infrastructure, facilities and services, along with the development’s ongoing operations and maintenance.
FELLOW TRAVELERS: Miami-Dade commissioners have initially OK’d using impact fees to fund mass transit that benefits multiple fee districts. The ordinance, on the Sept. 16 agenda, says roadway trust funds from one or more impact fee districts can be spent on transit capital improvements if commissioners, after a hearing, determine they would provide roadway capacity and benefit each district contributing roadway trust funds to the transit improvement. Transit projects would be chosen for roadway trust fund endowment based on their expected effectiveness in improving roadway capacity. The issue is tentatively due for an Oct. 14 hearing before the Transit and Mobility Services Committee.
COLOMBIA’S TURN: Colombia has replaced Brazil as the top country using the Miami Association Realtors’ online search portal in July. Brazil had led all international consumers using Miamire.com for 13 consecutive months, according to a press release. Colombia hasn’t held the first place spot since May of last year, but has finished second to Brazil for the past six months.