FYI Miami: March 8, 2018
Written by Miami Today on March 6, 2018
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.
PROMOTING OUR GEMS: Miami’s Downtown Development Authority is working on a promotional video that showcases the hidden gems of Miami, said board member Alicia Cervera. “We are working on a video that talks about the city, and I think that’s something we desperately needed because our city changes so quickly that as I tell people, if you haven’t been to Miami lately, you haven’t been to Miami at all,” she said. “I think that it’s important that we have a good video that tells our Miami story.”
LUXURY AUTO CLUB ON TRACK: Miami-Dade commissioners Tuesday gave the final OK on a lease with 13 Pista LLC to build a $100 million private luxury auto club and track on the 140-acre county-owned property at 2000 NW 47th Ave. The $30 million, 30-year lease requires the developer to build the county a community center, government center and buildings for three local nonprofits stationed at the site. The community center is to have a library, swimming pool, recreational programming and a cycling track open to all residents. The project is to draw economic development to the area, planning for a hotel, shops, restaurants and retail. “This is going to be a great economic engine for the area while providing a substantial amount of jobs and benefits to the local community,” said sponsoring Commissioner Barbara Jordan.
CITY BOND RATING UPGRADED: Moody’s Investors Service has upgraded the City of Miami’s primary bond rating from A1 to Aa2 due to the city’s improved financial position, average debt burden and large, strong diversified economy. The rating agency cited the positive nature of the Miami Forever Bond Program as the city was proactively addressing sea level rise and affordable housing, in addition to noting that city resiliency was important to continue to grow tourism, population growth, and downtown development. “This is good news for the taxpayers of Miami,” said Mayor Francis Suarez. “The timing couldn’t be better. This will mean a lower interest rate on the Miami Forever Bond Program and will save our residents the long run.”
BOAT SHOW BOON: The five-day 2018 Progressive Insurance Miami International Boat Show over Presidents Day Weekend had 1,100 exhibitors and 1,400 boats on display on land and in water, according to the National Marine Manufacturers Association. The show attracted 97,391 attendees from an estimated 35 nations, boosting local tourism, the association said. More than $3 billion in products were on display, and exhibitors reported strong sales on everything from fishing equipment and sailing gear to new yachts. “We are proud to host the greatest boat show in the world right here in Miami, delivering an estimated $854 million into Florida’s economy,” said Larry Berryman, show manager.