FYI Miami: October 6, 2022

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.

BEACH HOUSING INCENTIVE: The Miami Beach City Commission unanimously waived development fees to incentivize the construction of affordable and workforce housing. Fees waived last week include art in public places, all land development board application fees, concurrency and mobility and green building requirements as an incentive for developers. “Everybody knows the crisis we have with affordable and workforce housing, and the cost of land acquisition plus the cost of development makes it nearly impossible to create affordable and workforce housing here,” said Commissioner Alex Fernandez. The city would continue evaluating recommendations for future incentives. This is a first step, added Commissioner Kristen Rosen Gonzalez. “We need to continue to work on this.”

FUNDING TARGETED JOBS: A national food and beverage manufacturing and processing company is seeking $762,500 in total incentives from Miami-Dade County as it plans to build or renovate two warehouses and employ 90 people in new jobs in the county at average wages of more than $64,000 yearly. County commissioners are to vote today (10/6) on the request. Recipients of the Targeted Jobs Incentive Funds awards are not identified until after they are approved. The funds are provided after the companies meet their targets over a 10-year period. One 175,000-square-foot warehouse would be in the district of commission Chairman Jose “Pepe” Diaz, where 75 new jobs would be created and the company would make a $25 million investment in real estate and equipment. The other investment would be in the district of Commissioner Keon Hardemon, $11.25 million to create 15 new jobs. The program is administered by the Beacon Council, the county’s economic development public-private partnership. 

ITALY TRADE BOOST: Miami-Dade County has concluded a sister cities agreement with Viareggio, Italy, signed during a county business development mission there. A report to the county commission this week notes that “Viareggio has a robust marine industry with some of the world’s top yacht companies housed there interested in expanding in Miami-Dade County.” The report notes that Italy is one of the county’s top 15 trading partners, with over $3 billion in total trade last year. The agreement is for programs that expand educational, economic and cultural opportunities; exchange programs of best practices; and trade and cultural missions to each community.