HomeMy WebLinkAboutItem #01 - Presentationro
wD
Joseph R. Grassie
City Manager
Jim Raid, Director
Planning Department
SM,91ARY :
May 1, 1980
"= Agenda Item
City Commission Meeting
Committee of The Whole
In September of 1978, the Miami City Commission authorized a
"New Town In Town Study" to examine the feasibility of a large-
scale residential community in downtown and to prepare a devel-
opment pro;�ram. A workshop is requested with the City Commission
to:
receive an interim report on the project from
the consultant firm of Wallace, Roberts and Todd;
and review the Park West Preliminary Redevelopment
Schedule. - — —
BACKGROUND:
By resolution of the City Commission on September 14, 1978, the
City of Miami and the Downtown Development Authority were author-
ized to carry out a "New Town In Town Study."
A short chronology of the New Town In Town Project follows:
Date Action
1. November 1979 City enters into contract with the DDA.
2. January 1979 Technical committee formed composed of
City Community Development, City Planning
Department., DDA, Dade County HUD, Dade
County Community Development and Dade
County Planning.
3. February 1979 DDA issuer requests for proposals to
study Park West/New Town In Town.
Joseph R. Grassie
City Manager
Page 2
Date _
Action
4. May 1979
Consultants proposals screened and five
finalists chosen.
6. June 1979
Five finalists interviewed and the firm
of Wallace, Roberts and Todd were rec-
ommended to carry out the study in
cooperation with the American Cities
Corporation and Parsons, Brinkerhoff,
(wade and Douglas.
6. February 1980
Policy Committee on Park West formed
including City and County elected
officials, interested citizens and
business persons.
?. February 1980
Policy Committee reviewed interim report
and suggests further research on reloca-
tion options, financing, and the, feas-
ibility of assisted housing.
8. April 1980
Police Committee reviewed recommended
development concept and supports: 1)
the declaration of Park West as an area
of "slum and blight ", 2) the prepara-
tion of a modified development agreement
between the City and the County to delin-
eate responsibilities for carrying out
Park West, 3) the "principle" of tax
increment financing• as a vehicle for
carrying out Park West, and 4) requested
-
further study on the desirability of
declaring the entire DDA area (as well as
parts of Overtown) as a tax increment
district for the purpose of financing
redevelopment projects.
It is requested that the City Commission conduct a workshop on
the proposed Park West Plan during; the Committee of the Whole
session on May Sth for the purpose of receiving a presentation
by the firm of Wallace, Roberts and Todd reviewing the interim
report entitled part: West Alternative Development Plans and re-
viewing the proposed mark West Preliminary Development Schedule.
Joseph R. Grassie
City Manager
Page 3
Enclosed for the Commission's review is:
1. An Executive Summary of the Park West Redevelopment Plan.
2. A copy of the interim report entitled, Park West Alterna-
tive Development: Plans.
3. A cope of the Park West Preliminary Development Schedule.
The Park West consultants, City of Miami Planning staff and DDA
staff will be available to answer questions subsequent to the
presentation.
P.
EXECUTIVE SUMMARY OF
PROPOSED PARK WEST/NEW TOWN IN TOWN
In September of 1978, the Miami City Commission authorized a
New Town In Town Study" to examine the feasibility of a large-
scale residential community in downtown. The study was also to
include a recommended development program. The boundaries of
the New Town In Town area are Biscayne Boulevard on the east,
old municipal railroad right-of-way on the south, the Metrorail
right-of-way on the west (old FEC right-of-way) and the 836 Ex-
pressway on the north. See attached map.
The City contracted with the Downtown Development Authority (DDA)
to carry out the study and DDA in turn contracted with the con-
sultant firm of Wallace, Roberts and Todd.
In February, the consultants issued an interim report entitled,
"Park West Alternative Development Plans." A summary of the
findings and recommendations of that report follows:
" The overriding objective of the Park West Study is
to determine the feasibility of, and condition for,
Park West as a major redevelopment project under the
Florida Community Redevelopment Act of 1969 as amended.
Findings and recommendations are as follows:
1. The Study Area qualifies as a blighted area
within the definitions of the Act.
2. Few existin- uses in Park Vest are functionally
tied to surrounding area, e.g., the Port of Miami
or Downtown.
3. The Park West Area is not only blighted but is
extensively underdeveloped in relation to its
prime location in Miami.
4. The market potential. for an in -town major resi-
dential community is very strong - over 6000
residential units could be marketed in the next
10 years if appropriate land were made available.
0
P'
Executive Summary
Page 2
5. Of alternative level of site acquisition,
clearance and assembly considered, only
total clearance can realize the full poten-
tial of this unique area.
6. Without major land assembly and redevelopment
through public action, the Park West Study
Area has little possibility of real change
from its present character.
7. Net public investment (net project cost) in
site assembly and public infrastructure
improvements are in the order of magnitude
of $12,700,000 for total redevelopment if all
land is sold for its highest market potential
(condominium, hotel, commercial).
8. If the potential market of upper -middle income
owners and upper income renters is realized in
an eight year guild -out period, taxes at comple-
tion will exceed the present real property tax
of $398,890 by 20 times.
9. If a more balanced community is desire(! (with
up to 50'; of the utl i is :riven some form of
hourin.- subsi(ly) the public costs could reach
$27,000,000 for total redevelopment.
10. Florid,,C s new tax increment financin- based on
tax increa:-c is a basic eloment in financial
reasibi l i ty of, the Park West Project.
11. Assumin,g the present: t,iti rate with 30.474 mils
(8 mils reserv< d for schools) per $1,000 value,
a total of tax increment of $5,494,940 annually
would be realized from the new development.
12. ii'RT an(1 ACC recorrimend proceeding to Phase III of
the stud.v on the abovo basis."
These findi.n s were reviewed several times with a Park Nest Policy
Committee which includes City and County elected officials, inter-
ested citizens and business person~. In late April, the Policy
Committee met and endorsed: 1) the declaration of Park West as
an area of "slum and blight", 2) the preparation of a modified
Executive Summary
Page 3
development agreement between the City and the County to
delineate responsibilities for carrying out Park Vest,
3) the "principle" of tax increment financing as a vehicle
for carrying out Park West, and 4) requested further study -_
on the desirability of declaring the entire DDA area (as
wool as parts of Overtnwn) as a tax increment district for -
the purpose of financin-- redevelopment. projects.
The interim findings of the Study and the recommendations of
the Policy Committee are now being reviewed with the City and
County Commissions, downtown business groups, property owners
and other interested persons.
Subsequent to this review process, the City and County Com-
missions will be asked to formally designate Park West as a
redevelopment area and at a later phase of the Study, adopt
a redevelopment plan. Ouestions on the status of this propoal
can be directed to the City of Miami Planning Department,
Marien Aran-Spinrad, Special Projects Coordinator, 579-6848.
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VIOLLACE McHARG ROBERTS & TODD
UROAM AND ECOLOGICAL PLANNERS
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development plan
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LEGEND
CITY
STATE
PUBLIC OWNERSHIP
b
W P
PARK WEST
PRELIMINARY REDEVELOPMENT SCHEDULE
April 29
Policy Decision to Redevelop Park West
Consultant
using Tax Increment Bonds
O
WORKSHOP with Property Owners
O
WORKSHOP with City/County Cornmission
May 15
•
P.A.B. Presentations
Technical Committee
May 29
Joint City -County Commissions Presentation
to Declare a Redevelopment Area and
STEP 1.
Buffet a Staff
Technical Committee
June 3
•
Presentations: D.D.A. and New World Action
O
Final Documents by Consultant including
Consultant
Redevelopment Strategy, Model, Plan and
Developer Guidelines
O
WORKSHOP with New Redevelopment Staff
Technical Committee
O
WORKSHOPS with City-County-P.A.B.
Technical Committee
July 15
Final Plan Presentation with slide presentation
Consultant
and model to Joint City -County Commissions
STEP 2.
Approving Plan
August 15
O
Distribution of Plan and "Intent to Develop"
New Redevelopment
flyers to interested developers
Staff
O
Begin detailed work for Bond Package
New Redevelopment
— Acquisition/Relocation/Site Improvements
Staff
— Re -use Appraisals
— Market Forecast
October 15
O
WORKSHOP ON DEVELOPER SELECTION
New Redevelopment
Staff
November 15
•
Presentation of Development Package to
Technical Committee
Finalists
December 15
O
Recommendation of Developers to Corn-
Technical Committee
mission or Redevelopment Board (whoever
is given authority to sell land)
December 15
O
Final Bond Package including all documents
Redevelopment Staff
except Developer Commitments
January 15
S
Approval of Selected Developer and Author-
Redevelopment Staff
ization to prepare Bond Validation by
City Commission or appropriate Authority
STEP 3.
Jan. -May
O
Workshops with Developer Team to refine
Redevelopment Staff
Public/Private role
May 15
-
Final Presentations and Issuance of T.I.
Legal Staff
STEP 4.
Bonds
Redevelo )ment Staff
July 1981
Start Up of Park West Redevelopment
Program
July 1983
First Private Development Construction
July 1991
Completion of Project
July 2001
Retirement of T.I. Bonds
Public Policy Meeting 0 Major Presentation 0 Workshop