Miami Beach debt shift may save $16 million
Written by Gabriel Poblete on May 19, 2020
In order to better handle the financial strain from the Covid-19 pandemic, the City of Miami Beach will look to refinance some of its debts, which could lead to savings of over $16 million.
This month at the Finance and Economic Resiliency Committee meeting, Miami Beach CFO John Woodruff told commissioners the city could save significantly in the current favorable interest rate environment. The Federal Reserve lowered the prime interest rate by half-percentage point in March to a range of 0% to 0.25%
To read the full story click here to subscribe.