HomeMy WebLinkAboutStaff Report and Business Impact Statement•
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Planning Department
Staff Report and Business Impact Statement
Little Hlava act Parking i ust Furiu
Purpose:
To amend Chapter 35, Article V of the Code of the City of Miami to establish the Little Havana Parking
Improvement Trust Fund and schedule of fees.
Estimated Direct Economic Impact:
• There is no cost associated with this City Code amendment.
• This is a voluntary program. A purchase price of $13,500.00 per half -space (residential) and
$27,000.00 per full space (commercial or residential) per parking space waiver (the "purchase
price"). The purchase price shall be adjusted for inflation at the end of each five-year period.
• The amendment will create a new revenue stream for the City of Miami. The revenue will be
deposited into the Little Havana Parking Improvement Trust Fund, to be maintained and
administered by the Miami Parking Authority, or any successor agency designated by
the City Commission. Funds shall be deposited and can be withdrawn pursuant to facilitate parking
purposes, the creation of publicly accessible off-street parking, infrastructure improvements and
maintenance, and marketing to serve the area consisting of the properties within the Little Havana
Parking Trust 1 and 2.
Estimated Number of Businesses to be Impacted:
The number of businesses that may be impacted cannot be determined due to the voluntary nature of the
program.
Additional Information:
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Recommendation: Approval