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HomeMy WebLinkAboutR-18-0501City of Miami Resolution R-18-0501 Legislation 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. SPONSOR(S): Commissioner Ken Russell 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. City of Miami Page 1 of 2 File ID: 4929 (Revision:) Printed On: 4/4/2025 File ID: 4929 Enactment Number: R-18-0501 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. City of Miami Page 2 of 2 File ID: 4929 (Revision:) Printed on: 4/4/2025