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PLAN
SEPTEMBER 1986, AS AMENDED 1987
V. B. CAPITAL IMPROVEMENT PROJECTS
The redevelopment plan provides for a range of capital improvements to accomplish
the objectives of the plan. Capital improvements include:
1. Acquisition and assembly of one or more sites for public facilities to become
activity anchors in order to stimulate additional redevelopment by the
private sector.
2. Acquisition and assembly of one or more sites for disposition for private
redevelopment in order to create specialized industry activity anchors that
would create additional economic activity as a catalyst project. Should this
catalyst project proceed, the initial tax increment could be utilized to
create an available capital pool of between 11.5 .million to 13 million
through the issuance of a tax increment revenue bond in 1987 or 1988, which
could be used for land assembly.
3. Public infrastructure improvements including, but not limited to, utilities,
streets, sidewalks, parks, landscaping and upgrading of publicly -acquired
easements.
Ine capital improvements will be accomplished over time at a pace set by the
resources available for their completion, the primary resource being the .tax
increment revenues and land acquisition contemplated does not include residential
properties.
The construction of the Omni Extension of the Metromover system is also scheduled
for construction, the financing of which is to be supported in part by a special
taxing district for the Omni area.
In addition to the above capital improvements which are recommended as part of the
redevelopment plan, the 1985-86, City of Miami Capital Improvement Program includes
the following projects for the Omni area:
1. Downtown Component of Metromover Stage II
The City of Miami has made a commitment to Metro -Dade County to finance a
percentage of the project cost of Stage II. This consists of a total of
$7,239,300 by the year 1991, from the City of Miami General Fund.
2. Edgewater Street Improvements - Phase II
This project consists of the rebuilding of streets, which are to be selected
by the City of Miami Public Works Department at the time of construction.
Improvements will include asphalt pavement, concrete sidewalk, concrete curbs
and/or gutters, storm drainage and landscaping. This consists of a total of
$1,500,000 by the year 1990; of which $1,000,000 is to be appropriated from
Highway G.O. Bonds, and $500,000 from 1984 storm sewer G.O. Bonds.
3. Miramar Storm Sewers Project
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