South Miami Council Explores Innovative Infrastructure Financing
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Meeting Type:
City Council
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Meeting Date:
05/07/2024
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Recording Published:
05/07/2024
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Duration:
714 Minutes
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State:
Florida
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County:
Miami-Dade County
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Towns:
South Miami
- Meeting Overview:
In a recent South Miami City Council meeting, the council delved into the exploration of a new financing model for infrastructure projects, which could impact the city’s approach to capital improvements. Jason Huitt from Sustainability Partners introduced the council to an alternative to traditional debt financing called “infrastructure as a service.” This model offers capital for projects based on a usage-based system, potentially enabling the city to address maintenance needs without incurring additional debt. Council members were keen on understanding how this model could apply to urgent needs such as a structurally deficient bridge and other capital improvements.
The council also examined the city’s potential for non-General Obligation bond financing as presented by PFM Financial, discussing the city’s capacity for issuing bonds and the financial implications of pursuing a $50 million bond scenario. The analysis provided by PFM Financial included a review of the city’s existing debt, annual debt service, and forecasts for changes in fund balance, which led to a debate on balancing investments with the aim to reduce the millage rate to remain competitive with neighboring areas. This was part of a broader conversation on prioritizing and financing various projects, considering the competing goals of capital investments and fiscal responsibility.
During the meeting, the council addressed the city’s zoning and urban development, focusing on the creation of a new zoning category for urban townhouses. Proposed changes included landscaping, building coverage, and parking requirements. There was also a debate on the ordinance to modify provisions applicable to townhouse development, with emphasis on integrating townhouses into neighborhood areas while considering the economic implications for property owners.
Public safety concerns were also raised, with discussions on pedestrian safety and the approval of a resolution to provide design services for internally illuminated inground pavement markings at Sunset Drive intersections. Additionally, the council spoke about the potential purchase of new firearms for public safety and the installation of crosswalk lights to enhance pedestrian safety, with a focus on the importance of aesthetics and practical safety measures.
The council’s agenda included a presentation by the city manager on the Avalon Bay project’s progress, mentioning the completion of its last major phase. The city’s community events like “Shop SOMI Second Saturdays” were highlighted, along with employee recognition for exceptional service to the city.
Regarding community engagement, a discussion took place on the future of various city boards and committees. Some council members expressed concerns about abolishing inactive boards, emphasizing the value of community feedback. There was a consensus on the need to better define and utilize the boards for community engagement, and suggestions were made to workshop the issue to prioritize the boards’ functions.
In terms of economic development, the council debated a resolution authorizing the city manager to issue a request for proposal for the development of Hometown District Lot B. Concerns were voiced about the impact on public parking and local businesses, leading to the decision to defer the resolution for further review. Additionally, the potential sale or lease of a downtown property was discussed, with an emphasis on budget discipline and the importance of preserving public parking.
The meeting also touched on the simplification of the permit fee structure, with the planning director highlighting the need for fees to cover building department costs. A motion was made to defer the release of a unity of title for a property.
Javier Fernández
City Council Officials:
Lisa Bonich, Steve Calle, Josh Liebman, Brian Corey
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Meeting Type:
City Council
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Meeting Date:
05/07/2024
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Recording Published:
05/07/2024
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Duration:
714 Minutes
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Notability Score:
Routine
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State:
Florida
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County:
Miami-Dade County
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Towns:
South Miami
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