FYI Miami: March 3, 2016
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.
AIRPORT ARRIVALS SOAR: Passenger arrivals at Miami International Airport neared 2 million in January with international arrivals topping 1 million and domestic arrivals just shy of 1 million. The domestic arrivals rose 6.7% from January 2015 to 980,713 and international arrivals rose 2.2% from January 2015 to reach 1,004,826. Total arrivals were up 4.4% at 1,985,539.
AIRPORT NOTES RATED: Fitch Ratings has assigned an ‘F1’ rating to $200 million in Miami-Dade Aviation Department commercial paper notes designed to accelerate airport capital projects and take advantage of low short-term interest rates and favorable construction prices. County commissioners unanimously approved the program Feb. 2. The rating, Fitch said, is based on support provided by an irrevocable direct pay letter of credit issued by Bank of America that has an expiration date of March 2, 2019. Bank of New York Mellon is the issuing and paying agent for the county’s notes and is directed to request an advance under the letter of credit to pay principal and interest on maturing notes. Merrill Lynch, Pierce, Fenner & Smith is the dealer for the notes.
MAJOR CRIMES FALL: Crimes handled by Miami-Dade County police fell more than 13% in January, a report to Mayor Carlos Gimenez says, from 3,948 in January 2015 to 3,420 in January this year. Every category of crime fell except for murder, with 11 murders this January versus six in January 2015.
WATERFRONT LEASE: City of Miami residents will be asked to vote on the Riverside Wharf project during the March 15 election. Early voting began Monday at these locations: City Hall, 3500 Pan American Drive; Lemon City Branch Library, 430 NE 61st St.; Model City Library at Caleb Center, 2211 NW 54th St.; and Stephen P. Clark Center (SOE Branch Office) Lobby, 111 NW First St. The project consists of a complex of four riverfront restaurants and event spaces and a fish market and oyster bar to be run by Garcia’s Seafood, along with a new portion of riverwalk. It would be located along the 200 block of Southwest North River Drive and would include about 30,000 square feet of city-owned land, which triggered the referendum. The city commission, as well as the Miami River Commission and the city’s Waterfront Advisory Board, unanimously approved the Riverside Wharf project last year. Details: www.riversidewharf.com