FYI Miami: July 28, 2016
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SAVINGS BONDS: Fitch Ratings has assigned an A rating to about $740 million in Miami-Dade County bonds that will be issued to refund earlier bonds, saving the county $79 million over 25 years. The original bonds were used as part of the $6.5 billion Miami International Airport remake that other than a few minor projects is wrapped up. Fitch also rated the outlook for the bonds stable. Fitch noted the airport’s “relatively high” cost per enplanement of $20, versus far lower costs at comparable airports, but said it sees those costs by 2020 rising to $22 to $23, significantly below earlier forecasts of about $30. Fitch cited passenger traffic growth at Miami International of more than 6% in the first half of the current fiscal year.
BRINGING THE JUICE: An easement has been granted to Florida Power & Light Co. by the City of Miami in order to bring electrical service to city-owned property on Watson Island. City commissioners approved a perpetual, non-exclusive easement for a 10-foot by 61-foot strip of city-owned property at 1000 MacArthur Causeway. The easement is for the construction, operation and maintenance of underground electric utility facilities, with the right to reconstruct, improve, add to, enlarge, change the voltage as well as the size of and remove all the facilities within the easement. Documents show the easement involves land on the southwest corner of the island where a new heliport is being built.
SAME COST OF DISPOSAL: Miami commissioners have set the rate for trash collection for the fiscal year beginning Oct. 1. The resolution approved the annual special assessment for residential solid waste services at $380 per each City of Miami residence with three units or less and certain four-unit dwellings. Budget Director Christopher Rose told commissioners there is no increase or decrease in the solid waste fee from the current fiscal year.
MAINTAINING THE MEDIAN: The City of Miami has agreed to renew a contract with Thomas Maintenance Services Inc. for landscape work. In 2012, the city commission awarded the first year contract to the company for up to $152,686.14 for city lots and rights-of-way landscaping. The resolution authorized four one-year options to renew at the same annual ceiling, subject to budgetary and commission approval. A staff report says the company has professionally and skillfully done the maintenance required and recommended the commission approve the fourth option to renew for fiscal 2016-2017.