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Home My WebLink AboutM-86-06342 M� k- CITY OF MIAMI, FLORIDA INTER -OFFICE MEMORANDUM y 53 37 Mr. Cesar odio CAM City Manager sumirCT: Potential Tax Increment Financing District FROM: Rosario Kennedy REFERENCES: Commissioner ENCLOSURES: Please place on the July 24 agenda as discussion item the Potential Tax Increment Financing District for the Omni/Venetia Area. cc: Mr. Al Ruder MOVON 86--403rk . LAW OFFICES GREENBERG, TRAURIG, ASKEW, HOFFMAN, UPOFF, ROSEN 81 OUENTEL, P. A. MICHAEL O ALBERTINt FEPNANOO C ALON90 CESAR L ALVAREZ RUDOLPH F ARAGON RICHARD A ARKIN REUSIN O'O. ASKEW KEPRIL BAPS" -ILAP1E BASS ALYSSA M BAUMGARTEN RICMARD 0 BAXTER NORMAN J. SCNFORO SCOTT M Bt"NSTEIN MARK O BLOOM BUNT BRUTON STEVE BULLOCK ROBERT K BURLINGTON J PHILLIP CARVER ALAN R CHASE SUE M COGS KENDALL 8. COFFEY KATHY A. OANASZ MANK 0 DAVIS JEP FREY O. OE CARLO OSCAR G. DE LA GUAROIA ALAN T OIMONO CHARLES W. COGAN. M GARY M EPSTEIN THOMAS K. COUELS DIANE 0. FERRARO LAURA A GANGCMI RICMARD G. GARNETT BRIAN K DART DAVID J GAYNOR LAWRENCE GOOOFSKY ALAN S GOLD HARVEYA GOLOMAN STEVEN C GOLDMAN STtvfN M GOLDSMITH MATTMEW B GONSON DIANNE GREENBERG MELVIN N GREENBERG MARILYN O GREENBLATT ROBERTL GROSSMAN KENNETH C. HOFFMAN LARRYJ HOFFMAN MARCOS O JIMENEZ MARTIN KALB ROBERTA KAPLAN JOELJ KARP JUDIT" KENNEY TIMOTHY E KISH ALAN B KOSLOW STEVEN J. KRAVITZ STEVEN A. LANOY ALLEN P LANGJAHR ALAN S. LEDERMAN JEFFPEY E. LEVEY LAWRENCE B. LEVY NORMAN H LIPOFF CARLOS E. LOUMIET JUAN P LOUMIET MICHACLJ MARCHESE PCORO A. MARTIN JAY A. MARTUS JOEL0 MASER AL•CIA M MORALES ANTHONYJ O'OONNEL, JR JIJLIC K OLDEHOFF OERBIE M ORSMERSKY MARK A PACHMAN STEVEN J PARDO OLGA PARKA MARSHALL R PASTERNACK BYRON G PETERSEN ALBERT D OUtNTtL JOEL PEINSTEIN MARK J REISMAN LUIS REITER NICHOLAS ROCKWELL RAOUEL A NOORIGUEZ MARVIN 6 POSEN RICHARO A ROSENBAUM RONALD M ROSENGARTEN DAVID L Ross ROBERT O RUSIN KAREN D RUNOOUIST STEVEN T SAMILJAN GARY A SAUL CLIFFORD A SCHULMAN MARLENE K SILVERMAN STUART H SINGER TIMOTHY A. SMITH LAURA P STEPHENSON SAMUEL SUSI GARY P TIMIN ROBERT H TRAURIG MARIANNE A VOS JONATMAN'M WARNER DAVID M WELLS JERPOLO A WISH TIMOTHY 0 WOLFt SHEILA F WOLFSON July 17, 1986 The Honorable Mayor and Members of the City Commission City of Miami City Hall 3500 Pan American Drive Miami, Florida 33133 AMBLER H MOSS. JR ZACHARY H WOLFF OF COUN0CL MIAMI OFFICE ORICKELL CONCOURS 1401 9AICKELL AVENUE MIAMI. FLORIOA 33131 TELEPHONES MIAMI (305) 579 • 0500 BROWARO (305) 523 - 8111 TELEX 60.3124 -ELECOPY (305) 579.0718 • 579 - 0717 WEST PALM BEACH+ OFFICE 100 SOUTH DIXIE HIGHWAY WEST PALM REACH. FLORIOA 33401 (305) 659.6333 TtLECOPY (305) 659 - 6354 BROWARO OFFICE SUITE 16SO 110 EAST RROWARD ROULEVARO FORT LAUDENOALE, FLORIDA 3330, (305) 765.0500 TELECOPY (305) 765 1477 WRITER S DIREC- NO 579-0700 PLEA![ REPLY TO: MIAMI OFFICE HAND DELIVERED Re: Potential Tax Increment Financing District For The Omni/Venetia Area Dear Mayor and Members of the Commission: This office represents what is now known as the Omni/Venetia Action Committee composed of numerous property owners within the area between: N. E. 20th Street (on the north); Biscayne Bay (on the east); the F.E.C. right-of-way (on the west); and I-395 (on the south). For many months this Committee has been attempting to explore ways and means in which to inject new vitality into this area of the City of Miami that, in large part, is suffering from continued deterioration more commonly referred to as urban blight. We believe a solution may be within reach which would allow rehabilitation and renewal of this area with the cooperation, assistance and support of public and private interests. The method is neither new nor innovative and is already firmly established in Florida Law. B6P-6:34, 54_4' : C"IT� nc m� �.�. r The Honorable Mayor and Members of the City Commission July 17, 1986 Paae Two In 1969 the Legislature enacted the Community Redevelopment Act of 1969, as later amended, which allowed local governments to declare certain areas within their limits as "blighted" and to create and implement a Redevelopment Plan for the area which could be funded through the increased tax revenues created by implementa- tion of the Plan, itself. We believe that creation of such a district in this general area will provide initial funding, as of January 1, 1987, in an amount sufficient to support over $28,000,000 in bonds for redevelopment and rehabilitation of this area. WE NEED YOUR IMMEDIATE ASSISTANCE AT YOUR MEETING OF JULY 24, 1986, TO START THIS PROCESS. The staff of your Department of Development has been extremely helpful in supplying essential information on the formation of such a district and the prerequisites therefor. Staff now believes, how- ever, that Commission direction to move forward with further study and implementation of the necessary resolutions and plans is necessary. In order to create the district before December 31, 1986, Staff must be given the direction to move forward during the August recess to be able to present to you in September the initi- ating resolutions and plans to accomplish this result by December. That date is critical since certain real property improvements not presently being taxed will be added to the tax rolls on January 1, 1987, and must be identified for the district's tax increment prior to that time. I respectfully request the opportunity to address you on this matter as a "pocket" item at your meeting of July 24, 1986, and request your support for this proposal. RHT/tr Yours very truly, ROBERT H. TRAURIG GRRRNRLna. TRAURIG, AsKew, HOrrM^N, Llrorr, RoscN & OU<NTLL, P. A. Q6--634#1