Real Estate

FYI Miami: October 27, 2022


Written by Miami Today on October 23, 2022

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Bellow 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.

PANDEMIC IN AIRPORT’S WAKE: Miami International Airport is now exceeding pre-pandemic traffic, according to the US Airports and Toll Road Traffic Monitor report by Fitch Ratings. From 22,749,000 enplanements in 2019, Miami enjoys a 116.1% recovery as of the end of the second quarter of 2022. Since 2021’s fourth quarter, Miami is above 100% recovery. In general, US airports continued to gradually recover over the second quarter of the year, standing at 92% of 2019 second quarter levels, up from 83% in the year’s first quarter. “Airports such as Miami and Las Vegas are now exceeding pre-pandemic traffic levels, benefitting from an increase in leisure travel,” said the report. Other large hub airports “reliant on domestic O&D (origination and destination) business travel and international travel, such as Los Angeles, fell short of pre-pandemic levels due to persisting effects of the pandemic.”

PROTECTING PARKS: It’s now more difficult to put permanent structures or commercial advertising in Miami-Dade County parks and to renew leases, licenses and concessions in the county’s parks. County commissioners on Oct. 18 unanimously amended the rules by which such developments and advertising in the parks could be placed on a county ballot for voter approval. Former rules allowed the county commission to place such measures before the voters via a majority vote. In a measure sponsored by Commissioner Javier Souto, the new rules will require a two-thirds county commission vote to place the measure on a ballot. The change comes as Miami city commissioners are moving to allow large advertising billboards in downtown public parks. The city’s parks are not covered by the new county rule.

GAS DIPS AGAIN: Average gasoline prices in Miami fell 5.3 cents per gallon in the past week to $3.35, according to GasBuddy’s survey. Prices in Miami are 6 cents per gallon lower than a month ago.

TAXING JOB: As Miami-Dade County gears up for the 2024 election of constitutional officers independent of the mayor and commission, including an elected tax collector, Mayor Daniella Levine Cava has named Tax Collector Peter Cam to the new post of director of the tax collector department, reporting to the county’s chief financial officer. Mr. Cam has been tax collector since 2019. The tax collector deals with real estate, personal property, local business, and convention and tourist taxes, as well as special assessments for all local taxing authorities. The tax collector also acts as an agent for the state to issue automobile, boat and mobile home registrations and titles, as well as hunting and fishing licenses.





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