FYI Miami: December 8, 2022

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.

FEDERAL RAIL FUNDS: The US would be counted on to fund a larger percentage of a new elevated heavy rail system running from the Martin Luther King Jr. Metrorail station past Hard Rock Stadium to the Broward County line under a resolution due before the Executive Policy Committee of the Miami-Dade Transportation Planning Organization today (12/8). When the organization’s governing board in October 2019 decided it preferred heavy rail for the line it planned to seek 40% to 50% of capital costs from the federal government. The resolution by organization Chairman Oliver Gilbert III up for consideration today assumes the US would pay 60% of capital cost, the largest federal participation rate allowed. The 2019 assumption of 25% to 30% of costs from the state and 25% to 30% from Miami-Dade would be lowered to having the state and locality splitting 40% of costs, with shares not spelled out. The resolution does not cite the rail line’s total cost or why it expects a higher federal share. Operations and maintenance would be local responsibility.

WORLD TRAVEL EXPO: The first World Travel Expo, which Miami Today announced in July 2021 for a May 3-5, 2022, kickoff that was ultimately delayed by the pandemic, is now to be held June 13-15, 2023, at Miami International Airport to host more than 2,000 travel professionals, members of the Consular Corps of Miami were told last week. The aim is to bring tourism representatives from the airport’s international markets to meet with airlines, tourism bureaus, tour operators, cruise line, hotels and other visitor organizations to discuss potential airline route development here and promote their destinations, a memo from the airport said. The airport is hosting the event at its convention center, sponsored by the International Air Transportation Association, American Airlines and the Greater Miami Convention & Visitors Bureau.

ELECTRIC BILLS RISING: The Florida Public Service Commission on Tuesday approved utility costs that will translate to higher electric bills in January for homeowners and business customers of Florida Power & Light. FPL residential customers in this area will see 1,000-kilowatt-hour bills go from the current $120.67 to $125.39 in January. They will rise again to $129.59 in February. While the commission determines each fall how much utilities can collect from customers for fuel costs, the companies also can seek “mid-course corrections” if the costs are significantly higher than projected. FPL expects to file in January to seek to recover an additional $2 billion in fuel costs from 2022. The utility plans to start recovering the money from customers in April and spread the costs over 21 months.