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Home My WebLink AboutR-01-1152J-01-962 10/25/01 � :ii. •° :';. 14.jRESOLUTION NO. A RESOLUTION OF THE MIAMI CITY COMMISSION AUTHORIZING THE ALLOCATION OF BUDGET SURPLUS FUNDS, IN THE AMOUNT OF $50,000, IN SUPPORT OF THE GREATER MIAMI CHAMBER OF COMMERCE ECONOMIC GENERATION AND RECOVERY PLAN ESTABLISHED TO ASSIST IN THE STIMULATION OF THE ECONOMY OF MIAMI-DADE COUNTY AND SOUTH FLORIDA; AUTHORIZING THE CITY MANAGER TO EXECUTE THE NECESSARY DOCUMENTS, IN A FORM ACCEPTABLE TO THE CITY ATTORNEY WITH THE CHAMBER OF COMMERCE FOR SAID PURPOSE. BE IT RESOLVED BY THE COMMISSION OF THE CITY OF MIAMI, FLORIDA: Section 1. The allocation of Budget Surplus Funds, in the amount of $50,000, is authorized in support of the Greater Miami Chamber of Commerce Economic Generation and Recovery Plan established to assist in the stimulation of the economy of Miami --Dade County and South Florida. CITY COMMISSION MEETING OF •��8 a01-'k�l�i� �p: .j A Section 2. The City Manager is authorizedl� to execute the necessary documents, in a form acceptable to the City Attorney with the Chamber of Commerce for said purpose. Section 3. This Resolution shall become effective immediately upon its adoption and signature of the Mayor.2/ PASSED AND ADOPTED this 25th day of October , 2001. JOE CAROLLO, MAYOR In rso-,ordance with FF?r. F-'; r:, the Mayor did not fnoff(•^t3 ap.v)rm,�,i of ;;lis f;,f %ir 4lor� f)y ai ri!rl'' li 'i! l- cflectlw- with tflr' c ;t r �..�..> ''�i � I� i::..°,:: - rli 6 r rctinrt s riot;, witflou4 filo Mayor u° b',ing o. ATTEST:,/ W r J. F -rtia , ity Clea WALTER J. FOEMAN CITY CLERK APPROVE,pOlA O ORM ANDSCORRECTNESS. R D917 V I LARELLO ATTORNEY W5762:BSS V The herein authorization is further subject to compliance with all requirements that may be imposed by the City Attorney, including but not limited to those prescribed by applicable City Charter and Code provisions. V If the Mayor does not sign this Resolution, it shall become effective at the end of ten calendar days from the date it was passed and adopted. If the Mayor vetoes this Resolution, it shall become effective immediately upon override of the veto by the City Commission. Page 2 of 2 ,:, SENT BY: 10-19- 1 ;11:45AM ; COMMISSIONE17' '".. �_.. ___,... __ _ ., .� S CITY OF MIAMI, FLORIDA DISTRICT 2 si INTER-OFFICE MEMORANDUI COMMISSIONER WINTON TO: carlos �. Gimenez, City Manaser FROM : Commis�doner .iohrumy L. Winton Rigncd and distritbalod W avoid dnta•y. f)ATF : October 19, 2001 FILE Suf uLc: f : GMCC Economic Generation And Recowry Stimulation Plan AEFEREWrFS: ENCLOSURES Please place on the agenda for October 25, 2001 a discussion of the Miami City Commission to support the Greatcr Miami Chamber of, Commerce Economic Gen tion aqui Recovery Plan by funding $50,000 of the $250,000 lrojec,-,ted budget to stimulate the economrly of Miaini-Dade County and Sarah Florida. cc: Elvi Alonso, Agenda C.kwdinator SENT BY: 10--19- 1 ;11:45AM ; COMMISSIONER WINTON- 3054152075;* 3/ 3 September 28, 2001 greater miami chamber of :ommerce The Honorable Johnny L. Watm Cominissicnxer City of Miami 3500 Pan American Drive Miami, Florida 33131 Dear .lohnay: Today is day sevateen in the aftermath of the tragedy we suffered an September 11, 2041 when terrorists anacked our great nation. While there is much progress to be made in recovering fig m this arrack, the Greater Miami Chamber of Com mome has authored, developed, coalesced and implemented an Economic Generation and R icovery Plan to stimulate the economy of I4liarni-Dade County and Sm A Merida. We are canal this plan will work as many of the components were used during the early 1990s when our local econorny faltered as a result ofthe loss ofPanArn and Eastern Airlines, as well as Southeast Bank. We want to sham the "Miami Model" with otber communities because we know that in order far our locsil ecmiomy to bo stimulated, our natiou's economy must be stabilized. If we combine the strength and resources of the City of Miami with the goals and missions of the "Miami Model" we firmly believe that a strong eeonomic generation and recovery worts plan will spread throughout the cotwnunity. We have an urgent need to secure funds to cover the costs assooWed with this project. 1 have enclosed a projected budget that totals approximately $250,000 in expenses. Your support, at at fanding level of $50,000, would greedy assist in deftaymg these expenses. Thank you for your consideration ofthis request and I look forward to hearing ftin you. William O. Cullom President Eacs. c. lack Lowell Rin ides Ortiz r' OCT 1 9 2001 J 1 GREATER MIAMI CHAMBER OF COMMERCE 1601 Bin calm Boulevard • Miami, Florida 33132 - 1260 • (306) 350.7700 • Fax (3 05) 374,6902 Statewide roll Free (8W & iM ? www.greccterrniaml,corn CITY OF MIAMI, FLORIDA INTER -OFFICE MEMORANDUM TO: The Honorable Mayor and DATE: OCT 19 2ooi FILE: Members of the Commission sUWECT : Ordinance Appropriating Funds for Flagler First Condominium Project from the }}� Strategic Initiative Fund FROM REFERENCES: Carlos A. Gimenez City Manager ENCLOSURES: Emergency Ordinance RECOMMENDATION It is respectfully recommended that the City Commission adopt the attached emergency Ordinance amending Ordinance No. 12132 increasing the Special Revenue Fund entitled "Flagler First Condominium Project" by appropriating the amount of $900,000 from the Strategic Initiative Fund. BACKGROUND On October 111", 2001 the City of Miami Commission adopted Resolution 01-1074 granting $900,000 from the Affordable Housing Trust Fund for the redevelopment of the Flagler First Condominium Project. The Commission further approved an additional $900,000 grant from the Strategic Initiative Fund, subject to approval from the State of Florida Financial Oversight Board, if necessary. Therefore, in order to provide grant funds to Kapustin Corporation and a joint partnership, it is now necessary to amend the Special Revenue Fund known as "Flagler First Condominium Project" and appropriate funds allocated from the Strategic Initiative Fund in the amount of $900,000 for a total appropriation of $1,800,000. CAG/DB/ARW/CS J6 �. TO FRONT CITY OF MIAMI, FLORIDA INTER -OFFICE MEMORANDUM Linda Haskins, Director Budget Management Department Arleen Weintraub, Acting Director Real Estate and Economic Development DATE: October 19, 2001 sueJEcr: Funding for Flagler First Condominium Project REFERENCES: ENCLOSURES: Ordinance FILE : In preparation of the City Commission's approval of the attached ordinance, we ask that you verify that funds are available in the Strategic Initiative Fund account in the total amount of $900,000. Account Name: Strategic Initiative Fund Amount: $900,000 Purpose: Partial funding for redevelopment of 101 East Flagler Street by Kapustin Corporation and a joint partnership. Your signature below will verify that the specified funds are available. Verified: A 144"W r Linda Haskins, Director Budget Management September 28, 2001 greater miami chamber of ;ommerce The Honorable Johnny L. Winton Commissioner City of Miami 3500 Pan American Drive Miami, Florida 33131 Dear Johnny: Today is day seventeen in the aftermath of the tragedy we suffered on September 11, 2001 when terrorists attacked our great nation. While there is much progress to be made in recovering from this attack, the Greater Miami Chamber of Commerce has authored, developed, coalesced and implemented an Economic Generation and Recovery Plan to stimulate the economy of Miami -Dade County and South Florida. We g the are l economy thisplan as a result of twill work as he loss of PanArn and Eastern Airliney of the components were used s, s well as Southeast Bank.rly 1990's when � local economy fa We want to share the "Miami Model" with other communities because we know that in order for our local economy to be stimulated, our nation's economy must be stabilized. If we combine the strength and resources of the City of Miami with the goals and missions of the "Miami Model" we firmly believe that a strong economic generation and recovery work plan will spread throughout the community. We have an urgent need to secure funds to cover the costs associated with this support, afunding project. 1 have loosedevel a projected budget that totals approximately $250,000 in expenses. Your supe $50,000, would greatly assist in defraying these expenses, Thank you for your consideration of this request and I look forward to hearing from you. William O. Cullom President Encs. c. Jack Lowell OCT 1 9 2jOl Ramiro Ortiz GREATER MIAMI CHAMBER Of COMMERCE 1601 Biscayne Bouievard •Miami, Florida 33132 - 1260 - (305) 350.7700 •Fax (305 3 Statewide Toll Free (888) 660-5955 www.createrrriami.com E E GREATER MIAMI CHAMBER OF COMMERCE ECONOMIC GENERATION AND RECOVERY TASK FORCE Projected 120 Day Budget Employee Expenses: Benefits 515,900 Parking 880 Salaries 90,800 Salary Taxes 6,960 Total Employee Expenses Office Expenses: Committee Expense $27,000 Equipment Rental 12,000 Marketing 9,500 Office Supplies/Materials 6,000 Postage/Shipping 16,000 Printing/Publishing 40,000 Telephone/Fax 4,800 Travel 24,000 Total Office Expenses TOTAL EXPENSES $114,540 $139,300 $253,840 GREATER MIAMI CHAMBER OF COMMERCE ECONOMIC GENERATION AND RECOVERY TASK FORCE Projected 120 Day Budget E 0 October, 2001 November, 2001 December, 2001 January, 2002 TOTALS Employee Expenses• Benefits $3,975 $3,975 $3,975 $3,975 $15,900 ParWinq 220 220 220 220 880 Salaries 22,700 22,700 22,700 22,700 90,800 Salary Taxes 1,740 1,740 1,740 1,740 6,960 Total Employee Expenses $28,635 $28,635 $28,635 $28,635 $114,540 Office Expenses: Committee Ex ease $7,000 $7,000 $7,000 $6,000 $27,000 Equipment Rental 3,000 3,000 3,000 3,000 12,000 Marketing 2,500 2,500 2,500 2,000 9,500 Office Supplies/Materials 1,500 1,500 1,500 1,500 6,000 Postage/SWipping 3,500 4,000 4,500 4,000 16,000 Printing 10,000 12,000 12,000 6,000 40,000 Telephone/Fax 1,200 1,200 1,200 1,200 4,800 Travel 6,000 6,000 6,000 6,000 24,000 Total Office Expenses $34,700 $37,200 $37,700 $29,700 $139,300 TOTAL EXPENSES $63.3351 $65,835 $66,335 $58,335 $253,840 E 0 Economic Generation & Recovery Task Force Goal: Identify a minimum of $20 billion in infrastructure projects in, the next twelve months to energize our economy. Mission: To stimulate the economy of Miami -Dade County and South Florida by taking action on several initiatives to include: Work with airport officials and the aviation industry to minimize construction project slowdowns at the airport. Make recommendations to expedite pending building permits and construction projects. Facilitate more timely construction of all pending infrastructure projects. Identify issues that could impede international trade. Support efforts to stimulate the tourism and visitor industry and bolster confidence in travel to South Florida. Promote the benefits of the Empowerment Zone to speed project development. Collect, maintain and circulate economic data and records to chart progress and trends. Communicate the Task Force efforts and results on regional, statewide and national level. (Enterprise Florida has agreed to aid this goal.) The Task Force should demonstrate that its ability to aggressively fight economic terrorism is equal to the fight against the terrorism that struck our nation on September 11, 2001. We must work to instill confidence. Moving forward on all existing and planned projects will stimulate the economy and build confidence in our progress. COMMUNICATIONS Seth Gordon Michael Lewis Leslie Pantin Co -Chairs EXECUTIVE COMMITTEE ECONOMIC GENERATION & RECOVERY TASK FORCE COMMERCE & HOSPITALITY EMPOWERMENT ZONE ACCELERATION Bryan Finnie, Sam Gentry, Co -Chairs HOSPITALITY & TOURISM Bill Talbert, Elsie Howard, Barbara lbarra, Co -Chairs INTERNATIONAL COMMERCE Carlos Musibay, Rosa Sugranes, Tony Villamil, Co -Chairs ONE COMMUNITY ONE GOAL Fred Jackson HUMAN SERVICES DISLOCATED WORKERS'CENTER & FAITH BASED INITIATIVES Luis Chiappy, Halve Mogul, Ed Shumsky, Co -Chairs NOT FOR PROFITS & CULTURAL GROUPS Steve Marcus, Gene Gutierrez Jack Lowell, Chairman Steve Shiver, Co -Chairman SPONSORING ORGANIZATIONS �4 F. 1 Beacon Council — Tom Comish/Frank Nero City of Miami -- Joe Carollo/Carlos Gimencz Enterprise Florida — John Anderson Greater Miami Chamber of Commerce — Ramiro Ortizfwilliam 0. Cullom 4." Greater. Miami Convention & Visitors Bureau —Adolfo HenriquesJSi111'albert Miami -Dade County — Alex Pendas/Gwen Margolis United Way - Adolfo llenriques/Harve Mogul Visit Florida, BSA — AA Hertz Ax of 106101 ECONOMIC TRENDS & DATA Leonardo Green John Cordrey Ken Roberts Co -Chairs CONSTRUCTION BUILDING, ZONING & PERMITTING Peter Roulhac, Carol Wyllie, Co -Chairs CONSTRUCTION INDUSTRY Bill Delgado LEGISLATIVE & REGIONAL COOPERATION LEGISLATIVE Tito Gomez, Kendrick Meek, Marco Rubio, Co -Chairs REGIONAL COOPERATION Philip Blumberg, Jose Cancela, Barry Johnson, Co -Chairs FEDERAL TRANSPORTATION & INFRASTRUCTURE AVIATION Bob Gallagher, Miguel Southwell, Aviv Tzur, Co -Chairs INFRASTRUCTURE EXPEDITING Allan Harper, Walter Revell, Co -Chairs 0 • AVIATION Mission: To do as much as possible to allow the airlines to remain in business through assisting with federal legislation and supporting a nationalized security system. ♦Work with the Miami -Dade Aviation Department and The Convention and Visitors Bureau to increase air travel. ♦ Meet weekly with airline executives, their representatives and the Miami -Dade County Aviation Department professionals to determine progress. *Support Airlines' requests for federal assistance. BUILDING AND ZONING Mission: To work with the county and city officials in Miami -Dade County to speed up construction projects. *Determine what can best be done to shorten the planning, zoning and building processes. ♦Identify key projects which may be used as pilots for a streamlined press. Track all major construction projects. 0 COMMUNICATIONS 0 Mission: Stabilize and support the local travel and hospitality sectors, stimulate economic activity and project confidence in the future, and participate in the national recovery effort for New York and Washington, D.C. .In conjunction with other task forces and entities conduct campaigns encouraging Miamians to patronize local restaurants, clubs, hotels and retail outlets to compensate for drastic reductions in the business and leisure travel sectors Work with hotels to develop local patron packages: (Second Honeymoons) Stay Local. Play Local (Corporate Slumber Parties) Stay Local. Play Local. Business Sleep -over Retreats .In conjunction with other task forces and entities conduct campaigns encouraging BUILD IT NOW! + in conjunction with other task forces and entities conduct campaigns encouraging full participation in all efforts to rebuild and repair the cities of New York and Washington, D.C. *Work with Enterprise Florida to communicate theses programs to the rest of the State. Key objectives. *Foster coordination among the various entities currently or potentially participating with dislocated worker assistance. *Establish the capacity to process dislocated workers from job loss and shock into a re-employment mode. ♦ Facilitate awareness of an access to tracking/matching systems +Conduct proactive "telemarketing" to achieve maximum knowledge of job openings, training and assistance *Provide career counseling and develop job opportunities (on a nationwide basis) for technical, supervisory and management level dislocated workers as well as opportunities for service and hospitality personnel *Develop services (resume development, interview training, skill-base assessment, etc.) and re-training programs *Initiate emergency relief funding and capabilities k, 0 • ECONOMIC TRENDS AND DATA COLLECTION Mission: To allow accurate and timely economic data to be provided to the community. Maintain and communicate the latest figures on: *Hotel occupancy rates ♦Unemployed figures +Sales tax collection *Food and Beverage sales *Retails figures *Airline Activity Number of flights comparison Capacity rates *Comparison to other cities where possible +Cruise Lines Number of departures comparison Capacity rates s 0 0 EMPOWERMENT ZONE ACCELERATION Mission; Focus attention on the benefits available through the Miami -Dade Empowerment Trust in order to accelerate project development. ♦ Identify all projects planned in the Zone over the next twelve months. ♦ Assist with the preparation of any required documents in order to expedite projects. ♦ Track project progress to ensure a clear. and unencumbered development path. ;4 .� x.5, 2 t '= HO PITALI Y AND TOURISM Mission: To help restore public confidence in flying and bolster hospitality venues by encouraging local use. ♦Generate an advertising campaign which leverages funds from other organizations and companies to gain maximum results. ♦Remain in close communications with airline, travel, hotel, restaurants and attractions. ♦Develop programs to encourage air/cruise travel. Assist in retaining all planned conventions and meetings. NERASTRUCTURE EXPEDITING Mission: To encourage the Fast -tracking of capital improvement projects in all major Departments of the County, State and Local Federal agencies (and cities where appropriate) including: ♦Aviation Department ♦Department of Transportation *Everglades Restoration ♦ Fire Department ♦ Mass Transit * Miami -Dade Expressway Authority Police Department *Public Works *Seaport *Solid Waste Department • Water and Sewer 14 ` _ 0 Mission: Protect and enhance Miami's brand as the global business gateway for the Americas. ♦ Communicate to trading and investment partners that Miami's international infrastructure is intact and open for business *Advocate for local, state and federal policies that support the free flow of people and goods through our port and airport, in compliance with corresponding security measures *Obtain federal, state and local funding to stabilize the hard hit aviation and hospitality- related industries ♦Develop an inventory of International business needs during this emergency, working closely with the Beacon Council, the Greater Miami Visitors and Convention Bureau and Miami -Dade County — REGIONAL COOPERATION Mission: The moment our Miami -Dade County Recovery Program is refined and in action we will immediately share it with our neighbors in Broward, Palm Beach and Monroe Counties. ♦Immediately contact the primary Chambers, Economic Development Agencies and Convention and Visitors Bureaus. *Encourage the Chambers and Economic Development Agencies to gain the involvement of all appropriate governmental entities. *Meet with Enterprise Florida and share the action plan in order to enable its implementation throughout the State of Florida (John Anderson is willing to do this and will call it The "Miami Model" for Economic Recovery). R ` 2 C2 .. =Economic Scene Madric Zn respondi:!g to terrorism, -the. adminisuation is falling snort on &.e economic front. I?r O%SATI- and miticaryefforts may rty sly ca_:e precedence, but the wrote douse has provided minimal economic leadership since L. a attack$ on the World Trade Center a: d the Pentagon. what action has been taken, notably the ad to airlines, has been more a reaction co a clear-cut emergency than part of a Coordinated plan. The tads of a strong public voice on the econ- amy has CortCribuced substantially to t .e sense in A -l•_': iCa that the economic center iS i.oc holding aid is itself feeding the recessionary fires. Presi- d:nt Bush's first speech on the ecana'ly h'as ianex- :)i:cabl:• rategatad:a a radio address las: Satur- C1;:. a;t:rL^.a actac . Consider what the president might have said x•o o: t „ y days 1::3r the attacks. He could have "Oed bafor a a:= nation and said — to List a few .^ASSiJI!i':3S — that he would keep t: --e nails run- on cissa, get Fedr_x and U.?.5. back in the air. be cera_, t: tre was enough celepi.ona capac- : to ha :_t3 tht kiss lg load and put the federal 'overs meat in Ch rge of a=: mrt security. -.a could have gone turner. He could have ai!:ed for a patriotic gesture from big business. r:_ =ou!d have suggescad that it Fait three or four was s be.ore la..'`ng off any worker to give ;'tint :true w lacy tt:2 econorny moving. Letting go tCo!]Co wo:k_'s al -naso immediately. as the air - 1 --a industri-ts did. was hardly an :rOCL37_. Gra,•lcad, a a;, _nts a. a in 5:t SJ is Amertca. The gro' LnS prosp?ct -44 San'. a shiver dA•x".^•:he Sp'ne of many Ar -t ican.i. The support package to t:•te air• 1. ei sh"!d have included a provision about the re:enciC� of as many Jobs as possible. Working people have co be placed or, the agenda again. The m.tre presence of a strong president awareaf the risks and potential economic pain wou!d :,ave aro•rided serious comfort. to the na- tion. rnuch as Mayor Rudolph W. Giutixtl's can- stan.t presence did in Yew Yak City. 3_t instead we got pla:itude3 about how the terrorists would no break A.rner.ca's spirit, and no substance. There is eye; v reason to believe +Fiat tate economy has not been centrally dariaged in any war;_e- , 3iic wba.:s Llnpartanc to understxid is that recess:o^arty b1%q0- can feed on itsaif. It left uaa:t2nde•�. u.".e-.i;!0yrnen. can rise anal profits fell neon r:o: a tha.Z recessay, It is :tare chat a su-prijt. ; that Alan Greenspan. the Federal 2es2r:e chairr..ai.has urged la -mak -ars to wait a a hda to we how bad conditions real; are. That is tt:<a Itc:% •; tt,= patie^c bleed to se_ if c .e wound will heal tcself. %ljy a it will'. but the Slaedmg it. sat,, wilt usually male_ matters worse. Je 1,fadric-i ; :re editor of ChaM?rqe Ata;o• :,.no C.:.''. a colle:nOnol esacr "Uncorvermanct Wtsdom.: A.:emar a PerspevivesOr, the "Vew =Cor.orr.;'. " He retches at Cooper L•r:or, and the Sew 5&.oaL E-r.ci!. challergeCarresharpexorm �: _ :+.�..�-met E•� :': i Ltw.••Gi_r [nL!! De:=a ?�:r Lases emptoyets Cysten to an that t:._ ca,-•ear'Aill eLm'_ a:_ 13.000 ions. The main concern, which.Str. Greenspa:. and at.,jers Knew well, is that the attacks carne when there were many imbalalC2s L1 the ecat:om . Cors.:mers are heavily indebted, savings rates are low, the dollar is high, the trade deficit U erarrnaus, capital spending hes dried up 3:.d. his,rical Standards. stocks a: a Stit! ove, : � -='=• a serious recession Was a...nos, cera!_ t,�• der way before Sept. U. if d:spiriced cornu -s an a erage naso b$vLZ ia: ^.o iC are perzen.aV =4L. -:::ore r^ wj:Ired_ce_.3naticn'53:ai5dA- Mei:.c product by rou-01y 3'.:A bit' MR. A;.d rn 3': iave r'+oar .6, rte pe rC"399? PC L:".t5 "tyre. The prioncy, eve censer: a:we econto is:3 now afire=. is :a punp marey unto the ecoro [em3ar1rity. C_orgress and ",-a adrnL^.ist. a:iC_ are rrepariag iarn-ulus pack(;es. The 3rts;1e'. has agreed to abai.33O billion is emergency e:< - pe: di.ures so tar. but even if � W new pat:<ag_s conte to SLOG billion, it is lit<a!v to be too little. A mu'irnunn of 5200 pillion to SZ la billion at s:i- flus L.2 n3:tt two pea: s is aroba3i;• needed. Sane ecoroalists, like James S. Galbraith of the Un!• varsity of Texas and Wynne Godley of Lte Jerorne Lei} Institute at Bard Colne, -3. say sigai:ic_:uly more is required. What should Lhe president do? First. he sh0u!d speak f: a -My. He ihcutd 3t00 5u e_,luous Che9CleadL.a. w',.C:1 the pLN:C ...:i• tr.:s:s.3. td cell us 3reCLielr •x' -a: he Wit; do maintain prose?-M.Y. In:he ec_nomie ar lna. this adminiatratior. has no equi 1!2ac of Cit is -a2-1 oublic voice of Sacr emr y of S:ate Calif L. Pow3`.'. it is up to the presider::. Second. tax cu:S Shout! tf�ce second 71103 :7 public spend=• .- But if there is no political war: to avoid them. the cox cuts shout'' be desig::ad :a b= spent quickly. which means miq should be d::ecc- ed toward midd!e•iacome sr.d poorer WC. -%a. -S. Cutting pa; cal; taxa; is the bast alternative. Tlurd, rtx public spend= g shou!d be ii -ted at t:%m hurt mos. inn a recession. Most i^rarta .t. the coverage of urer-1P10yrae-: _ iurance. which h_; been radically reduced 5''_ c' : t L::O's. 5:'.auld be expanded. Be:tefic;a; ,enii i`.0ulL also beacce!erazed. Thes'_eiwillrls? i-%.-acessio t but fall when chs tc2nanly recovers. Some econorliss also s?:.i"Yv advocate r3li- ^e amac:::. of :::c :�•. _ •_�: �..: fa.: evenUe i:'.: LIg %I h 4`.e '.�:!iCh f: _' =�-:2� back 57�.^•d1:1� a^ ?CbltC 52r :025 ' 9 3 5:0'.x•?� =Wno7;• CXK ;�.auld no- be put place. i -!ie -31.' ~ znenv ca -t. all of whi ^. Wi!t s'. _^.�."'-•'• 4�2 a"art;. _.: e f_ -_re. r.ts d_=».-�ea t C•':r 13. Le^.11y highe._'_X78'dL_.'i. 3G. _.a nation has too long reglecte'� is pus:.: :nv3s.menc un -de - the guise of;ood economics.: := i six fai :res 0' the airline security system 7narc 3lI coo :tear. Firal!y. . Cle natio^ 'will spin! an its tts 33ci:ric;: a :d perha?s :o i_.:c- mc: a ailing' . ILTc3 travel and L'iiu. 3_'.c. R2�Llld ng Lower %ta-hattan will pro+.id3 :cr;•term econom.- ic refits and pay for icse!f. 3_::,.e greater g,r is t-hac we will exaggerMt -fast n-_3ds when 'Balch care and specific arae; of p.:bt:c t. rntnt have 5aea so len; neg!ec:y� ^' Mr.Gcd!ey„WK :sor,,a fu._.e: Im. _a,:an•• Sti-t_!Us to the Art': ,.W.3:aro-' '!a^ stirnuL S overseas. _1!, s'_.^.d;_._ nay Cn' S 'rnacrts way ua'�i:hoU: a co--_ surf:: r:3a t: a-<".— S. t: [4e tr3de deficit so 3'i. im wal Punt pre i - SL. -e on Xn a,.read. overvalue' __1- ca fa!! rap- lC��. 5ain:'!3:Srl$ L•iflation ar.C.`.i=712x.^.teles: races. Mr. Godley urges acoc:__ ated i::rn'At!i plckag• among. deve!oped ra::zni. This admUtistracian sees ::f,p3r in anon- da.- non - dao of the day. !iut it is a new day..;,zd is the ac - (,.On is S-Aifs enough. umitcessary p:,L1 c_n be avoided. �`� r" 71 v .Cry vc