LTC 249-2007 Commercial Revitalization Initiative - Bandshell Commercial Districtm MIAMIBEACH
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OFFICE OF THE CITY MANAGER =.~
NO. LTC # 249-2007 LETTER TO COMMISS~OI~
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TO: Mayor David Dermer and Members of the City Commission '~
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FROM: Jorge M. Gonzalez, City Manager c N
DATE: October 29, 2007 `.' w
SUBJECT: Commercial Revitalization Initiative -Bandshell Commercial District
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In July 2007, the Planning Department organized a "Steering Committee" made up of City staff
and North Beach stakeholders to develop a program of activities aimed at improving the
business district on Collins Avenue between 73 and 75 Streets. This initiative was an outgrowth
of comments made by residents during community meetings concerning Ocean Terrace and the
North Beach Town Center master plan. City departments that are contributing to this effort
include Economic Development, Neighborhood Services, Code Compliance, Communications,
Sanitation, Parks and Planning.
The Steering Committee has been meeting biweekly to develop a comprehensive program of
education, physical improvements and business promotions. These include:
• Illustrated storefront signage and design guidelines prepared by the Planning
Department to help merchants understand the complexities of the Code and improve the
appearance of their windows.
• Economic data targeted to show the unmet market demand for goods and services and
to encourage business enhancement and growth.
• Workshops on merchandising, marketing, promotion and financing to be conducted by
the Small Business Development Council and sponsored by the City's Economic
Development Department.
• The possibility of private business counseling to be conducted by SCORE, a partnerwith
the U.S. Small Business Administration.
• Code enforcement targeted at landlords to repaint, repair and clean up alleys and trash
areas.
• Enhanced sidewalk pressure cleaning schedule by Sanitation.
• Rehabilitation of street tree planters by the Parks Department.
• Clean Windows campaign aimed at improving the outward appearance of stores by
emphasizing cleanliness and providing professional design services to upgrade window
displays.
• A promotional event, to be named "Shop Hop", on Saturday, January 26, 2008. This will
be an opportunity to showcase the businesses in the Bandshell Commercial District to
the entire community.
• A website sponsored by the private sector to be known as www.bandshelldistrict.com.
The attached booklet, entitled "North Beach Renaissance -Bandshell Commercial District
Revitalization", has been prepared to introduce businesses to the program. During the next few
weeks, members of the Steering Committee will be visiting each store to meet with the owner or
manager toe ist their participation.
JMG J JAM
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- Table of Contents
..
North Beach Renaissance ...........................
Upcoming Events ........................................
Shop Hop ....................................................
Clean Windows Campaign ..........................
Green Initiatives ..........................................
Building Rehabilitation Incentives ...............
Commercial Area Profile .............................
............................................................................. 1
............................................................................. 2
............................................................................. 3
............................................................................. 4
............................................................................. 6
............................................................................ 7
............................................................... Appendix
North Beach Renaissance Steering Committee
City of Miami Beach
Kevin Crowder, Economic Development Director
Barbara Hawayek, Division Director, Neighborhood Services Department
Katia Hirsh, Senior Planner, Planning Department
Joyce Meyers, North Beach Planning Coordinator, Planning Department
Jay Moore, Development Coordinator, Office of Communications
Nannette Rodriguez, Public Information Officer
Mercedes Carcasses and Robert Bonaguidi, Code Compliance Officers
.~
Miami-Dade County
Margie Amador, Aide to Miami-Dade Commissioner Sally A. Heyman
North Beach Residents and Businesspersons
Ann Castellano, owner of The New Hotel
Carol Housen, resident and Board Member North Beach Development Corporation
Barry Klein, resident and owner of Klein Design Group
Deborah Ruggiero, resident and Teen Job Corps Director
F-- Daniel Veitia, resident and President of North Beach Retail Merchants Association
Cary Weis, developer of Serenade at North Shore Park condominium
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Cover photo of North Beach Bandshell by Robin Hill, 2002, courtesy of the Urban Arts Committee and the
North Beach Development Corporation
l
North
Beach
'~ t ~ Renaissance
North Beach Renaissance
Defining a Better Future for the North Shore of Miami Beach
Local Residents and City of Miami Beach Join Forces
A joint effort between North Beach residents, businesses and the City of Miami Beach has emerged
in an exciting endeavor to revitalize the North Shore Bandshell District in the wake of a resurgence
of the entire area.
In the past five years alone, North Beach has transformed into one of the hottest neighborhoods in
Miami Beach. Since 2002, there have been over 3000 new condominium units completed or under
development, with new projects emerging monthly. The arrival of Canyon Ranch, Ocean Blue,
Aqua, The Akoya, Terra, and The Bath Club have brought a new demographic into the area with
property prices equaling those of South Beach. It is a return to the glory days of the past as the
infamous "Hotel Row" on Collins Ave. gets a facelift, the area's unique brand of "MiMo" architecture
gets recognized by the National Register as an Historic District, and an increasing number of new
residents move to the area, attracted to its' many charms and distinctive authenticity.
With these new arrivals comes the desire and need to take pleasure in their neighborhood, eat and
drink in the restaurants and bars, shop in the eclectic array of stores, and enjoy the sights and
sounds of the beach. ~ e , . _~ „ ~!~~ ~ , ~ <, . _ ~ , ~ v ~ ,~ .~ n , ~,~~
~..'St %f7 ~he~!" r~~'.,'; =-,c.l;~a: rz Y.~~st.9; ctas~ ~f~io#'~'ci;s~ t~~T13aP7~ TiaP' z3 ~A'£'ae~' 'v't3{t~~~` ~f f3[3L~~ c7fJC~
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Opportunity for Business Enhancement and Growth
In response to this revitalization comes the opportunity for all businesses to expand their customer
base, to market to a broader range of income and ethnicity, and to increase profits. Businesses may
also elect to redesign storefronts for maximum business attraction and customer retention, to
renovate or build new additions, or convert an unused building or vacant store to a money making
operation.
Activities Planned to Raise Public Awareness of North Beach
The North Beach Renaissance Committee that has formed as a reaction to this unprecedented
revitalization is reaching out to all business owners and operators in order to assist them in getting
more information about various City, County, and Nationally sponsored programs that
. .- : ; for all types and sizes of business
operations, renovations, and new developments.
The Renaissance Committee is also spearheading various events aimed at showcasing the
neighborhood businesses and attracting more people to the area. The first area to be showcased
has been dubbed the This is the two-block area of Collins
Avenue between 73~d Street and 75'h Street. A North Beach Shopping Day -the "Shop Hop" is
planned for January 26, 2008 and includes entertainment at the Bandshell with other programs and
prizes aimed at gathering locals and tourists to the Bandshell Commercial District.
North
~ Beach
1 ~ Renaissance
MIAMIBEACH s
Upcoming Events
Upcoming Events to Attract More Visitors to North Beach
This year should prove to be as exciting as ever with a full schedule of community events planned
for the season. And kicking it off is the :~ ` ~ ;a .~~ ~ , , o , ~ _-,, ~ . , ~ °~, where we will invite
residents citywide to come and experience North Beach. As an ongoing part of the North Beach
Renaissance and the focus on the Bandshell Commercial District Revitalization Program, we want to
ensure that this district becomes a destination for residents and tourist alike. In order to accomplish
this, the North Beach Bandshell Trust organization has over 30 planned events that will take place at
the Bandshell this season, bringing people from all over the city to enjoy the beauty of North Beach.
Even more exciting are the plans for the ~~ ~, a:~~ ~zt< ~~~ organization, offering first-run movies on
the beach at 73`d Street, with showings 3 times a day and 7 days a week, bringing hundreds of
individuals to the Bandshell Commercial District each night. In addition, the Miami Beach Festival of
the Arts (weekend of Feb. 9th - 10th) brings over 40,000 visitors each year.
As we look to the future with the ~. ~ ~~~~ .,
construction of the ~~_~ .. ~ ..: ~~
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the next few months, we will soon ~~"'"''~= `~ ~*~•"''~~~~~~ '~'
_ have a pedestrian connection between ~~ ~ . ~ _ ya•;:,,::t'~" ~ 4
Allison Park (64 Street) and North ~ ,. '- ` ~is~oioa `.ate tr
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Shore Open Space Park (79 Street). ,.
This Beachwalk is destined to be a top 4 ': ~` `~`r~,K--
destination for area residents to enjoy ,,~ ~ !
the best North Beach has to offer. ;~, ~; ~ ~'
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Shop Hop
Shop Hop -January 26, 2008, Noon to 4 PM
Opportunity to Showcase Your Business
This event is a way for us to kick-off the season by inviting residents from all over the city to enjoy a
pleasurable shopping experience in the Bandshell Commercial District. This is your opportunity to
showcase your businesses. We will embark in a massive advertising campaign to invite residents to
shop in the Bandshell Commercial District. With thousands of individuals expected to attend, this is
our chance to leave a lasting impression on residents to remind them to come back to enjoy the
dining and shopping experience.
What is the Shop Hop?
On January 26, 2008 the City of Miami Beach and the North Beach Renaissance Steering
Committee will host an event at the Bandshell and invite the entire community to experience
shopping and eating in the North Shore Bandshell Commercial District. At the Bandshell we will
have music and games planned throughout the day. Shoppers will register for the Shop Hop and
receive a Shop Hop playing card. Each shopper will be encouraged to complete the entire playing
card by visiting each participating business along Collins Avenue between 73 Street and 75 Street.
Each shopper that completes the playing card will be entered into a grand prize drawing that will
take place at the Bandshell at 4 PM.
Participating business will become co-sponsors of the event. The businesses will be advertised in
our marketing material and listed as a business for residents to patronize. Don't underestimate the
value of this opportunity to make residents citywide aware of your services. As a restaurant or store,
there is a huge demand from residents for your service. We will include you in the printed directory
and show your logo as a co-sponsor of the event.
How do 1 participate?
In order to participate, each business must take part in the Clean Windows Campaign and offer the
following, depending on whether you are a retail store or a restaurant:
Retail stores will offer a 10% discount to all registered shoppers that present a ShopHop playing
card at the time of their purchase. In addition, retailers are encouraged to have specific ShopHop
items on Sale in their store. Retailers can restrict certain items from the ShopHop event, if
necessary. In order for a restaurant to participate, you must also offer a 10% discount to registered
shoppers and must offer free food samples or `tastings". There are no restrictions on the size of the
tastings you offer the shoppers. Businesses will stamp each shopper's playing card to indicate that
they visited the business during the ShopHop.
Once again, this is an exciting opportunity to showcase your business. All you have to do is be a
participant and help revitalize the Bandshell Commercial District.
North
~ Beach
Y Renaissance
3
~~A11~8E~-1CH
Clean Windows Campaign
Clean Windows Campaign
A vital element of attractiveness for any visitor and resident is the crucial "visual impact" that
they perceive as they drive or walk throughout the Miami Beach streets when going
shopping or just passing by.
One of the decisive factors to enter a business is the attractiveness of the store exterior.
Fifty-three percent of shoppers base their initial perception of the business and their
decision to enter and shop there upon the attractiveness of the store exterior.
The exterior "storefront" is a 24/7 billboard for all businesses. A passing shopper moving
along at three to four feet per second will pass a storefront in eight (8) seconds - 8 seconds
to make a decision whether to enter the store or not. Therefore, a business owner has this
same 8 seconds to convey a message to the potential customer.
In a joint effort to make a lasting impression to all North Beach visitors and shoppers, the
City of Miami Beach has consulted with several design professionals on tips and techniques
that will enhance the potential customer's perception of a store, persuading them to walk
through the front door and add money to your bottom line.
All business owners are encouraged to adopt these critical steps toward success, starting
with the first event, the Shop Hop.
Tips and Techniques for Storefronts that attract customers
1. KEEP IT CLEAN! Clean the glass on store windows and doors (inside and outside) daily
or as often as necessary to keep it free from fingerprints and dust. Also, sweep walkways
daily; and periodically clean and touch-up paint on the window frames and walls.
2. Keep it simple. Don't try to put in everything in a window display at once.
3. Change displays frequently to keep the look fresh.
4. Bright lighting is crucial, both during the day and at night. Use lights to highlight individual
items or signs. (Movable track lights work well.)
5. Continue the theme of the window display with other displays inside the store.
6. Please see the attached "2007 Miami Beach Storefront Guidelines" for signs and other
City Code requirements.
North
Beach
° a Renaissance
4
MIAMIBEACI~
Storefront Advisory Service
Creative window displays are an ideal way to set your business apart from the competition. To
further assist businesses to make their window displays and storefronts more appealing to new
customers, the Renaissance Committee has created an advisory service made up of volunteers who
are professional designers. There are two types of assistance that these designers can provide to
store owners:
Limited Consultation
The designer will meet with the store owner on the premises, assess the store owner's objectives
and products, and then make specific recommendations on how the store could improve its
appeal through creative window displays.
Window Display '`Makeover"
Up to 4 businesses will be selected to participate in the window "Makeover" program. For these
businesses who agree to participate, the professional designer will actually design and execute a
new window display. This window "Makeover" will take place during cone-day time period; and
the entire process will be filmed by the City of Miami Beach's cable TV production crew. This will
be edited into a program about the "Renaissance" of North Beach. The store will not only benefit
from a great new window display, but it will also receive free exposure on the citywide cable TV
channel 77 (MBTV).
1
North
~ Beach
i Renaissar~e
5
iAAC~
Green Initiative
North Beach Goes "Green"
As the US and the world have become increasingly more aware of "Global Warming" and
the serious threat to all of our natural resources, many initiatives have gained momentum in
an effort to protect and preserve Florida's environment for future generations.
The City of Miami Beach has started a "Green Initiative" in an effort to promote the
conservation of Miami Beach's most precious resources. Our environment is our "natural
capital" and is the foundation of our strong economic development and excellent quality of
life. It is what attracts residents and business to the area, not to mention the 7 million
tourists who visit the City each year.
North Beach is leading the way with the development of green buildings such as green
condos, green lodging establishments, implementation of recycling methods, clean streets
campaign and clean windows campaign.
For further information, contact the U.S. Green Building Council at ~ , ~ '~ N. ~ ,.
' North
Beach
"" t Renaissance
6
to 113FC1-I!
Building Rehabilitation Incentives
National Register Historic Designation
Background
One of the first steps targeted at preserving the historical and architectural significance
of the North Beach area is the recognition of 2 distinct areas as Historic Districts to be
listed on the National Register of Historic Places.
The National Register is part of a national program to coordinate and support public and
private efforts to identify, evaluate, and protect our historic and archeological resources.
Properties listed in the Register include districts, sites, buildings, structures, and objects
that are significant in American history, architecture, archeology, engineering, and culture.
The National Register is administered by the National Park Service, which is part of the
U.S. Department of the Interior. In South Beach, the Miami Beach Architectural (a.k.a. Art
Deco) District was listed in the National Register as of May 14, 1979. This has lead to an
investment of over $1 billion in rehabilitation of historic buildings.
The two distinct areas of North Beach are the "North Shore" Historical District and the
"Normandy Isles" Historic District. They are both being recognized for one of the city's
most intact and coherent concentrations of the Greater Miami area's characteristic brand
of mid-20th century resort architecture. (See Maps on Pages 3 and 4).
These authentic places of history offer opportunities to experience where real history really
happened, where world renowned forms of art and architecture were conceived and
brought to life and made Miami Beach one of the most unique locations in the world.
Through listing in the National Register of Historic Places, this nation recognizes historic
places of architectural significance...and history is preserved for all.
~ North
BEach
4 R2riaiSS2rK@
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ill l A ill I B ~ A~ l-I
Incentives to Property Owners
Listing in the National Register offers many opportunities and financial incentives to
property owners presently located in North Beach and those wishing to invest in the area.
Recognition that a property is of significance to the Nation, the State, or the community will
naturally attract more tourists and residents to the North Beach Districts as this same
recognition did to South Beach starting in the 1980's until the present.
But, there are also four important tax incentives associated with this designation that
certainly contribute to the success and bottom line of all businesses:
~. The immediate eligibility for Federal tax benefits, specifically a 20% federal income
tax credit for rehabilitation of income producing structures for commercial, industrial,
agricultural or rental residential purposes, including rental single family homes and
apartment buildings.
2. The qualification for Federal income tax deductions for preservation easements.
3. The exemption of Ad Valorem Property Tax by Miami-Dade County.
4. Eligibility for an alternative method of property assessment based on income
produced by the property.
See more details on pages 11 and 12.
North
Beach
~ ~ Renaissance
MA~IBEACI•'I
NORTH SHORE ARCHITECTURAL DISTRICT
MIAMI BEACH, FL
LEGEND
Morth Shore Architectural District
Q North Shore Architectural District Boundary
Contributing Buildings
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FEDERAL GOVERNMENT FINANCIAL INCENTIVES FOR HISTORIC BUILDINGS
20% Rehabilitation Federal Income Tax Credit
This tax credit is available for rehabilitation of income producing structures for commercial,
industrial, agricultural or rental residential purposes, including rental single family homes and
apartment buildings. Tax credits provide adollar-for-dollar reduction of income tax owed. The 20%
rehabilitation tax credit equals 20% of the amount spent in the rehabilitation of a certified historic
building. The goal of the rehabilitation credit is to put the building back to use so that it is functional
and meets current housing, retail, commercial, or industrial needs.
All elements of a rehabilitation project must meet the Secretary of the Interior's Standards for
Rehabilitation. They must also meet basic tax requirements of the Internal Revenue Code. The tax
credit must be claimed on the appropriate IRS form for the tax year in which the rehabilitated
building is placed in service.
Historic Preservation Easements
Preservation easements allow for federal income tax deductions for charitable contributions of
partial interests in historic properties. A preservation easement is a voluntary legal agreement
between a property owner (the grantor) and a government agency or preservation organization
(grantee). The easement protects a significant historic, archeological, or cultural resource in
perpetuity for the benefit of future generations.
The easement can be unique to each property and may incorporate many elements. Protected
features may include the facade, the interior, the grounds, view sheds, air rights, etc. The fagade
easement is the most practical and common type of donation. The terms of agreement are
reached by mutual consent between the property owner and the easement-holding organization.
An easement allows the donor to retain private ownership and use of a property and, if certain
criteria are met, claim a Federal income tax deduction equivalent to the value of the donated rights.
Permanent preservation conditions must be agreed upon and abided by for an owner to claim the
tax deduction. In addition, the public must have some visual access to the donated property. The
easement is binding on the owner who grants it as well as on all subsequent owners. The owner
can sell or will the property to whomever he or she wishes.
Details about the 20% tax credit or preservation easements can be obtained from the National
Park Service and the Internal Revenue Service, (202) 354-2055; or the State
Historic Preservation Officer (850) 245-6300.
North
Beach
S Renaissance
11
IAM~BEACH
LOCAL GOVERNMENT FINANCIAL INCENTIVES FOR HISTORIC BUILDINGS
Ad Valorem Property Tax Exemption
Miami Dade County offers the ad valorem property tax exemption, which exempts 100% of the
assessed value of all qualified improvements to historic properties for a period of 10 years. This
exemption applies to county property taxes only, not city property taxes. Miami Dade County's
legislation works by "freezing" ad valorem taxes at the rate they were assessed before
improvements are made. In other words, the incremental value added by the authorized
improvements is not added to the assessment.
To claim this benefit a property owner must file an application to the Miami Beach Historic
Preservation Board, which transmits the application with its recommendation to the Miami-Dade
County's Office of Historic Preservation for further processing. Once approved the property owner
enters into a covenant with the County Commission relative to the maintenance and protection of
the property for aten-year period beginning on January 1 after improvements are completed.
_ Many historic properties in South Beach have been approved for this benefit including the
Winterhaven, the Tiffany and the McAlpin hotels. For further information contact Miami-Dade
County Office of Historic Preservation, (305) 375-3471.
Alternative Method of Property Assessment
Owners of historic buildings may be eligible for an alternative method of assessment by the Miami-
Dade County Property Appraiser. This alternative method allows the property to be assessed
based on the actual use rather than highest and best use, which may have an effect in lowering
property taxes. To be eligible the property must be officially designated as historic either by local
ordinance or listing on the National Register of Historic Places. It also must be commercial in
nature (apartment buildings are not included) and be open to the public at least 40 hours per week
for 45 weeks per year or the equivalent of 1,800 hours per year. The benefit applies only to the
Miami-Dade County portion of the tax bill.
To claim this benefit, property owners of qualifying properties must file an application with the
Miami-Dade County Department of Property Appraisal by March 1 of each year. To find out if your
property qualifies, contact David Rooney at (305) 375-3829 at the Property Appraisers Office.
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' North
~ d ~ Rena ssance
12 t~F.A~,~%
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NORTHBEACH
PRIMARY TRADE AREA ~ RETAIL OPPORTUNITY
This map is of North Beach's primary trade area, and the information
on this page are estimates of existing retail sales in the various
commercial districts in North Beach, and are intended to illustrate the
additional opportunity that exists for existing businesses and new
entrepreneurs to tap into an underserved market. Source: Claritas,
2007.
These figures do not include the additional spending potential from
local employees, day-trippers and commuters, as well as the residents
of the City's Middle and South Beach neighborhoods and the residents
of adjacent municipalities.
City of Miami Beach ~ Economic Development Department
305.673.7193
f
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North Beach Residents North Beach Tourists North Beach Workers
38,550 Permanent Residents 1,455 Hotel Rooms in North Beach 5,114 Employed in North Beach ~"
$429,349,422 Retail Spending in 2006 69.2% Annual Occupancy $28,828 Average Annual Wage
367,504 Annual Occupied Room Nights $147,424,000Total Earnings in 2005
$34,997,406 Spent on Shopping in 2006 ,~,
Opportunity:
At Least
$248,661,7'
is spent outside of Noi
by North Beach Reside
and Tourists
Bandshell District
Total Sales in 2006
$9,031,982
Town Center
Total Sales in 2006
$28,237,751
Collins Avenue
Total Sales in 2006
$29,302,135
MIAMIBEACH 2
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MAJOR PRIVATE INVESTMENT (30 OR MORE UNITS)
# of Units
6000 Indian Creek 42
Akoya 461
Aqua on Allison Island ~ 5 ~
Bath Club 124
Bel-Aire 130
The Collins 238
Ocean Blue 105
Regatta 52
Casablanca Villas 43
Canyon Ranch (condo) 479
Canyon Ranch (hotel) 136
Terra Beachside Villas 1 17
Cabana on Collins 53
Deauville Parking
Regatta II ~ ~ g
Deauville on the Bay 98
The Deauvill 144
Bel-Aire on the Bay 80
Golden Sands 47
Montecarlo Hotel 136
~',~' ~,
Bel Aire on the Bay (8C
Deauville on the Bay (9F
Regatta II (11E
Deauville Parkin
Regatta (52
Aqua (151
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~iC~RTNBEACH
Status Type
Complete Condo
Complete Condo
Complete Condo/TH
Complete Condo
Complete Condo
Complete Condo
Complete Condo
Complete Condo
Complete Condo
Under Construction Condo
Under Construction Hotel
Under Construction Condo
Under Construction Hotel
Under Construction Parking ~ Retail
Under Construction Condo
Under Construction Condo
Permitted Condo
Permitted Condo
Permit Pending Condo
Permit Pending Condo
1,406 -Total Residential Units Completed
865 -Total Residential Units Under Construction
541 -Total Residential Units Permitted ~ Approved
189 -Total Hotel Rooms Under Construction
Ocean Blue (105)
The Collins (238)
Golden Sands (47)
Canyon Ranch (479/136)
Deauville (144)
Montecarlo (136)
Bel Aire (130)
Akoya (461)
Casablanca Villas (43)
Cabana on Collins (53)
Terra (117)
MIAMIBEACH 3
~-Nt~~JRa~1ARKETP~A~3
PRIMARY TRADE AREA CHARACTERISTICS
Demographics
Population .......................................................... 38,550
Median Age ......................................................... 40.07
Per Capita Income ............................................. $19,655
Households ........................................................ 16,951
Average Household Income ................................. $44,462
Median Household Income .................................. $29,419
Average Household Size ........................................... 2.25
Families ............................................................... 8,926
Average Family Income ....................................... $52, 390
Median Family Income ........................................ $34,417
Neighborhood Retail Demand ..................... $484,433,762
Consumer Spending (Annual Per Household)
Apparel ................................................... .......... $3,127
Women's Apparel ...................................... ............. $795
Men's Apparel .......................................... ............. $669
Footwear ................................................. ............. $359
TV, Radio, Sound Equip ............................... .......... $ l , 379
Sports and Recreation ................................. ............. $756
Travel ..................................................... ............. $880
Food lat home) .......................................... .......... $5,001
Food laway from home) .............................. .......... $4, 206
Dinner ..................................................... .......... $1,210
Lunch ...................................................... .......... $1,222
Alcoholic Beverages ................................... .......... $1,136
Alcoholic Beverages (home consumption) ........ ............. $830
Alcoholic Beverages (away from home) .......... ............. $306
Prescription Drugs ...................................... .......... $2,238
Household Textiles ..................................... ............. $349
Household Furniture .................................... ............. $530
Education ................................................. ............. $903
Automobiles ............................................. .......... $2,348
Gasoline ................................................. .......... $1,197
Auto Repair/Maintenance ........................... .......... $ l , l 13
Total Annual Spending ................................ ........ $35,546
Population and Tourism Access
Fontainebleau Hilton ............................... ............ 7 minutes
Miami Beach Convention Center .............. ............ 9minutes
Loews Miami Beach Hotel ....................... .......... 10 minutes
Downtown Miami .................................. ........... 1 8minutes
Diplomat Hotel Hollywood ....................... .......... 19 minutes
Coconut Grove ..................................... .......... 20 minutes
Seminole Hard Rock Casino ..................... .......... 30 minutes
Florida International University South .......... .......... 31 minutes
Population within 5 miles ..................................... 195,512
Population within 15 miles ................................ 1,857,712
Population within 30 miles ................................ 3,899,296
MIAMIBEACH
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Estimate of 2005 Total Employment and Payroll
Establishments .......................................................... 688
Employment .......................................................... 5,1 14
Payroll ................................................... $147,424,000
Average Annual Wage ....................................... $28,828
Estimate of 2005 Retail Employment and Payroll
Employment .......................................................... 1,187
Payroll ..................................................... $ 24, 803, 778
Estimate of 2005 Hospitality Employment
Employment .......................................................... 1,1 1 1
Payroll ..................................................... $24,689,392
2006 Hotels ~ Restaurants
Total Hotel Rooms .................................................. 1,455
Total Restaurant Seats ................................................ 477
Room, Food, and Alcohol Sales
1996 ........................... ........................... $40, 91 1, 075
1997 ........................... ........................... $42,335,944
1998 ........................... ........................... $34,771,220
1999 ........................... ........................... $46,140,524
2000 ........................... ........................... $ 51, 464, 765
2001 ........................... ........................... $55,416,408
2002 ........................... ........................... $51,731,366
2003 ........................... ........................... $50,537,498
2004 ........................... ........................... $72,159,385
2005 ........................... ........................... $93,167,516
Median Condominium Sale Price
2000 .............................. ............................... $90,500
2001 .............................. ............................. $103,000
2002 .............................. ............................. $125,000
2003 .............................. ............................. $140,000
2004 .............................. ............................. $170,000
2005 .............................. ............................. $255,000
2006 .............................. ............................. $ 260, 000
2007 .............................. ............................. $250,000
Median Single Family Home Sale Price
2000 ............................ ............................... $255,000
2001 ............................ ............................... $ 309, 000
2002 ............................ ............................... $ 360, 000
2003 ............................ ............................... $475,000
2004 ............................ ............................... $515,000
2005 ............................ ............................... $619,050
2006 ............................ ............................... $775,900
2007 ............................ ............................ $1,141, 500
Sources - Demographics Claritas, 2007
Employment: State of Florida, US Census Bureau
Room, Food, Alcohol Sales: Miami Beach Resort Tax Office
Real Estate: Miami-Dade County 4
MARKET CAPACITY ESTIMATES FOR THE NORTH BEACH PRIMARY TRADE AREA
NORTNBEACH
Estimates below are for the residential population of the primary trade area only. They do not include additional demand from
customers such as overnight tourists, day-trippers, communters, or local employees/workforce. Source: Claritas, 2007.
Demand Supply (Sales) Gap Demand Met
Neighborhood Retail/Eating & Drinking $484,433,762 $262,433,282 +222,000,480 54%
Automotive Dealers $76,530,283 $0 +$76,530,283 0%
Automotive Parts/Accessories $7,261,781 $681,323 +$6,580;458 9%
°- Furniture Stores $6,287,551 $3,089,044 +$3,198,507 49%
Home Furnishing Stores $4,413,189 $1,829,505 +$2,583,687 41%
Appliances, TVs, Electronics $11,204,120 $4,893,220 +$6,310,900 37%
Computer and Software $2,125,173 $1,675,436 +$449,737 79%
Camera and Photographic Equipment $343,389 $0 +$343,389 0%
Building Material and Supply $32,619,219 $4,806,918 +$27,812,301 13%
Lawn, Garden Equipment $3,680,905 $36,472 +$3,644,433 1%
Grocery Stores $62,109,051 $79,508,153 128%
Specialty Food Stores $2,204,614 $562,999 +$1,641,615 26%
Beer, Wine, and liquor Stores $4,888,092 $1,653,378 +$3,234,714 34%
-- Pharmacies and Drug Stores $27,802,406 $41,217,964 148%
Cosmetics, Beauty Supplies, Perfume $1,204,328 $312,598 +$891,730 26%
Optical Goods Stores $771, 356 $0 +$771, 356 0%
Gasoline Stations $52,556,832 $47,170,951 +$5,385,881 90%
Men's Clothing Stores $1,120,572 $0 +$1,120,572 0%
Women's Clothing Stores $3,770,139 $1,458,589 +$2, 31 1,550 39%
Childrens, Infants Clothing Stores $910,014 $609,948 +$300,066 67%
"' Family Clothing Stores $8,507,705 $4,260,582 +$4,247,120 50%
Clothing Accessories Stores $349,686 $541,691 155%
Shoe Stores $3,083,846 $178,899 +$2,904,947 6%
-- jewelry, Luggage, Leather Goods $2,874,670 $505,801 +$2,368,869 18%
Sporting Goods, Hobby, Book, Music $4,993,229 $1,419,772 +$3,573,457 28%
Book, Periodical and Music Stores $2,187,324 $1,329,820 +$857,504 61 %
Florists $777,658 $375,225 +$402,433 48%
Office Supplies, Stationery, Gift Stores $3,956,574 $3,187,249 +$769,325 81%
Used Merchandise $894, 861 $451,990 +$442, 871 51
Other Miscellaneous Store Retailers $5,016,224 $1,672,357 +$3,343,867 33%
Department Stores $27,298,958 $1,523,741 +$25,775,217 6%
Other General Merchandise Stores $33,475,474 $10,557,986 +$22,917,488 32%
Full Service Restaurants $24,744,235 $25,071,570 101%
Limited Service Restaurants $23,438,429 $19,583,454 +$3,854,975 84%
Drinking Places Alcoholic Beverages $2,271,370 $747,701 +$1,523,669 33%
This list has been prepared through the analysis of residential demand and local supply Iretail sales, and is intended to only provide an
indication of additional retail investment that the local market might support. New business investment must comply with all existing City
regulations and requirements of the City Code. Investors and entrepreneurs are strongly encouraged to conduct independent due
diligence and market research prior to making an investment decision. Please contact the Miami Beach Economic Development Department
for more information on this and the City's other business districts. Source: Claritas, 2007.
~^ MIAMIBEACH
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ENTERPRISE ZONE BENEFITS
An Enterprise Zone is a specific geographic area targeted for economic revitalization. Enterprise Zones encourage economic growth
and investment in distressed areas by offering tax advantages and incentives to businesses locating within the zone boundaries.
The Florida Enterprise Zone Program offers various tax incentives to businesses located within the designated enterprise zones. Listed
below are all of the Florida incentives for businesses located in an Enterprise Zone.
Jobs Tax Credit (Sales Tax):
Allows a business located within an Urban Enterprise Zone to take a sales and use tax credit for 20 or 30 percent of wages paid to
new employees who reside within an enterprise zone. To be eligible, a business must create at least one new job. The Sales Tax
Credit cannot be used in conjunction with the Corporate Tax Jobs Credit.
Jobs Tax Credit (Corporate Income Tax):
Allows a business located within an Urban Enterprise Zone to take a corporate income tax credit for 15 or 20 percent of wages paid
to new employees who reside within an enterprise zone. The Corporate Tax Credit cannot be used in conjunction with the Sales Tax
Credit.
Business Equipment Sales Tax Refund:
A refund is available for sales taxes paid on the purchase of certain business property, which is used exclusively in an Enterprise Zone
for at least 3 years.
Building Materials Sales Tax Refund:
A refund is available for sales taxes paid on the purchase of building materials used to rehabilitate real property located in an
Enterprise Zone.
Property Tax Credit (Corporate Income Tax):
New or expanded businesses located within an enterprise zone are allowed a credit against Florida corporate income tax up to 96%
of ad valorem taxes paid on the new or
improved properly.
Community Contribution Tax Credit Program:
Allows businesses a 50% credit on Florida
corporate income tax, insurance premium
tax, or sales tax refund for donations made to
local community development projects.
Businesses are not required to be located in
an enterprise zone to be eligible for this
credit.
FOR MORE INFORMATION PLEASE
CONTACT:
Jose Bravo, Business Development Supervisor
Miami-Dade County
305.375.4535
MIAMIBEACH 6
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TECHNICAL ASSISTANCE
FAU Small Business Development Center. Small Business
Development Centers provide small business entrepreneurs with
FREE counseling, management training, and information for
prospering in the global economy. If you need to contact a certified
business analyst to provide you with financial assistance orindustry-
specific counseling, please visit Florida SBDC (http://
www.fsbdc.coml. Contact: Carlos Cardenas, FAU SBDC ~
786.388.5350 j 8500 SW 8th Street, Suite 224.
Counselors to America's Small Business", SCORE is anon-profit
association that provides small business entrepreneurs with FREE
counseling (either in person or via emaill. If you are ready to ask
questions about starting or expanding a small business, please
visit SCORE (http://vvut~Yv.score.org/findscore/~ and make a
counseling appointment today.
The Miami Beach One-Stop Career Center managed by UNIDAD
of Miami Beach provides employers and job seekers with
professional services at no cost. Contact 305.532.5350 for more
information
Counseling and educational programs are also available through
Miami Dade County's Enterprise Community Center (http://
v`M~tiv.miamidade.gov/ced/ECC.aspl. The Enterprise Community
Center serves as a one-stop capital shop, offering a full array of
technical assistance, seminars, counseling and financial services
to businesses and entrepreneurs throughout Miami-Dade County.
The ECC houses public lenders, banks, and local development
agencies, as well as a Small Business Resource Center Library
offering state-of-the-art information. 3050 Biscayne Boulevard, Suite
201 ~ 305.579.2730
HISTORIC PRESERVATION
In addition to the Enterprise Zone, improvements to historic properties
may qualify for the Miami-Dade County Historic Preservation
incentive, which provides a 10-year abatement of property taxes
on the improvements.
Historic renovations should also explore the Federal Historic
Preservation Tax Incentives offered by the National Park Service
LOAN PROGRAMS
The Community Development Revolving Loan Fund has been
established to assist businesses seeking financial assistance for
start-up and expansion. Loans can be awarded up to a maximum of
$500,000 for working capital and fixed assets. This program
aims to reduce unemployment, raise the income levels and enhance
business services in low and moderate-income areas of Miami-
Dade County. Businesses located in the Enterprise Zone are eligible
for assistance through the Revolving Loan Fund. Applicants must
fulfill one or both of the following objectives: (1 l benefit low and
moderate income persons via jobs and/or services; and (2J aid in
the prevention or elimination of slum and blighted areas. For more
information contact dose Bravo at Miami-Dade County ~
305.375.4535.
~10RT~ BEACH
The Micro Enterprise Assistance 8~ Peer Lending Program assists
entrepreneurs in building a strong credit history by borrowing
incremental amounts of loan funds, develop stronger business skills,
share business ideas, and provide support in a peer group setting.
The program also provides direct loans up to $25,000. Contact:
Miltoria Fordham ~ 305.438.1407.
The South Florida Regional Planning Council offers a Revolving
Loan Fund that is available to existing businesses looking to expand
or relocate their business, create and/or retain jobs. Loan amounts
range from $50,000-$300,000. Contact: Cheryl D. Cook j
954.985.4416.
The Small Business Administration offers several local programs
that provide financial aid to small businesses. Contact the local
SBA office in Florida for assistance: Miami SBA office (http://
www.sba.gov/fl/south/~. A few of the most popular SBA loan
programs are: Basic 7(a) Business Loan, Micro-loans, and the CDC/
504 Program.
The Basic 7(aJ Business Loan Program: All 7(a) loans are provided
by lenders who are called participants because they participate
with SBA in the 7(al program. 7(a) loans are only available on a
guaranty basis. This means they are provided by lenders who
choose to structure their own loans by SBA's requirements and who
apply and receive a guaranty from SBA on a portion of this loan.
The SBA does not fully guaranty 7(al loans. For more information,
visit http: //vvvwv. sba. gov/financing/sbaloan/7a. html.
The Micro-Loan Program: The Micro-Loan Program provides very
small loans to start-up, newly established, or growing small business
concerns. Under this program, SBA makes funds available to
nonprofit community based lenders (intermediarieslwhtch, in turn,
make loans to eligible borrowers in amounts up to a maximum of
$35,000. For more information, visit http://wvvw.sba.gov/
financing/sbaloan/microloans. html.
CDC/504 Loan Program: The CDC/504 loan program is a long-
termfinancing tool for economic development within a community.
The 504 Program provides growing businesses with long-term,
fixed-rate financing for major fixed assets, such as land and
buildings. A Certified Development Company is a nonprofit
corporation set up to contribute to the economic development of its
community. CDCs work with the SBA and private-sector lenders to
provide financing to small businesses. For more information, visit
http://vvvvw.sba.gov/financing/sbaloan/cdc504. html.
GRANTS
The Mom and Pop Small Business Grant Program provides
financial and technical assistance to qualified for profit small
businesses. Please contact 305.756.0605.
Miami-Dade County's Commercial Revitalization Program is
designed to improve the physical and economic condition of
commercial for profit businesses in low and moderate-income
neighborhoods. The program makes available grants up to a
maximum of $100,000 to qualified owners and merchants to
rehabilitate the exterior of their commercial buildings. ContactJose
Bravo atMiami-Dade County j 305.375.4535
MIAMIBEACH 7
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