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HomeMy WebLinkAboutAgenda Item Summary FormAGENDA ITEM SUMMARY FORM File ID: #4929 Date: 10/10/2018 Commission Meeting Date: 11/15/2018 Requesting Department: Sea Level Rise Committee Sponsored By: Ken Russell District Impacted: All Type: Resolution Subject: Research - Gentrification in Areas of Low Median Income Purpose of Item: A Resolution of the Miami City Commission directing the City Manager to instruct appropriate City of Miami staff to research gentrification in areas that exhibit low area mean income rates and high topographic elevations and research ways to stabilize ad valorem property tax rates in order to allow as many residents who wish to remain in their neighborhoods to do so. Background of Item: Development pressures in some higher elevation areas of Miami are potentially accelerated by the increased costs and risks of living in lower lying coastal areas. The Miami Sea Level Rise Committee, through its continued efforts to enhance the resilience and sustainability of all the City's communities is placing emphasis on research in order to stabilize property taxes and allow low to moderate residents to remain in their neighborhoods should they wish to do so. Based on follow up conversations, the Committee felt that policy recommendations should be inclusive of all neighborhoods experiencing high development pressures, regardless of elevation in order to improve economic resilience. Budget Impact Analysis Item is NOT Related to Revenue Item has NOT an Expenditure Item is NOT funded by Bonds Total Fiscal Impact: N/A Office of Management and Budget Climate Resilience Committee Office of Management and Budget Legislative Division City Manager's Office Office of Zoning Office of the City Attorney Reviewed B Aniska Elliott Wayne M. Pathman Christopher M Rose Valentin J Alvarez Nikolas Pascual Daniel Goldberg Valentin J Alvarez Budget Analyst Review Department Head Review Budget Review Legislative Division Review City Manager Review ACA Review Deputy Attorney Review Completed 10/12/2018 2:11 PM Completed 10/22/2018 2:44 PM Completed 11/02/2018 9:01 AM Completed 11/02/2018 5:47 PM Completed 11/05/2018 2:55 PM Completed 11/05/2018 3:47 PM Skipped 11/05/2018 5:31 PM Office of the City Attorney Victoria Mendez Approved Form and Correctness Completed 11/05/2018 5:40 PM City Commission Maricarmen Lopez Meeting Completed 11/15/2018 9:00 AM Office of the Mayor Mayor's Office Signed by the Mayor Completed 11/26/2018 3:23 PM Office of the City Clerk City Clerk's Office Signed and Attested by the City Clerk Completed 11/26/2018 3:55 PM Office of the City Clerk City Clerk's Office Rendered Completed 11/26/2018 3:55 PM City of Miami Legislation Resolution Enactment Number: R-18-0501 City Hall 3500 Pan American Drive Miami, FL 33133 www.miamigov.com File Number: 4929 Final Action Date:11/15/2018 A RESOLUTION OF THE MIAMI CITY COMMISSION DIRECTING THE CITY MANAGER TO RESEARCH GENTRIFICATION THAT IS ACCELERATED DUE TO CLIMATE CHANGE, IN AREAS THAT EXHIBIT LOW AREA MEDIAN INCOME RATES AND HIGH TOPOGRAPHIC ELEVATIONS; FURTHER DIRECTING THE CITY MANAGER TO RESEARCH METHODS TO STABILIZE AD VALOREM PROPERTY TAX RATES IN ORDER TO ALLOW AS MANY RESIDENTS WHO WISH TO REMAIN IN THEIR NEIGHBORHOODS TO DO SO. WHEREAS, according to Keenan, Jesse M., et al. "Climate gentrification: from theory to empiricism in Miami -Dade County, Florida." Environ. Res. Lett (2018), climate gentrification, while not officially defined, is based on the proposition that the impacts of climate change "make some property more or less valuable by virtue of its capacity to accommodate a certain density of human settlement and its associated infrastructure"; and WHEREAS, the impacts of climate change, in turn, affect housing prices for renters, speculative investors, and buyers, which in turn reinforces patterns of "urban development that lead to displacement (and sometimes entrenchment) of existing populations consistent with conventional framings of gentrification"; and WHEREAS, the result is that properties at higher elevations become more valuable, while properties at lower elevations become less so; and WHEREAS, increased property values in these, and other low to moderate income neighborhoods close to the urban core, may also be driven by numerous other market dynamics; and WHEREAS, as prices rise, investors shift capital to these areas causing an increase in property values and a corresponding increase in ad valorem tax rates, which may burden current property owners with cost -prohibitive property taxes that result in tax liens, foreclosures, and gentrification of the area; and WHEREAS, on July 23, 2018, the City's Sea Level Rise Committee adopted a resolution recommending that the City Manager examine the effects of climate change on housing, in order to address impacts on our low to moderate income residents; NOW, THEREFORE, BE IT RESOLVED BY THE COMMISSION OF THE CITY OF MIAMI, FLORIDA: Section 1. The recitals and findings contained in the Preamble to this Resolution are adopted by reference and incorporated as if fully set forth in this Section. Section 2. The City Commission hereby directs the City Manager to research gentrification that is accelerated by climate change, in areas that exhibit low Area Median Income rates and high topographic elevations. Section 3. The City Commission directs the City Manager to research methods to stabilize ad valorem property tax rates in order to allow as many residents who wish to remain in their neighborhoods to do so. Section 4. This Resolution shall become effective immediately upon its adoption and signature of the Mayor. APPROVED AS TO FORM AND CORRECTNESS: ndez, ity Attor ey 11/5/2018 1 If the Mayor does not sign this Resolution, it shall become effective at the end of ten (10) 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.