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CRA Resolution 001-2021 RESOLUTION NO. 001-2021 A RESOLUTION OF THE CHAIRPERSON AND MEMBERS OF THE NORTH BEACH COMMUNITY REDEVELOPMENT AGENCY TRANSMITTING THE DRAFT NORTH BEACH REDEVELOPMENT PLAN TO THE CITY'S PLANNING BOARD FOR REVIEW AND RECOMMENDATIONS AS TO ITS CONFORMITY WITH THE CITY'S COMPREHENSIVE PLAN, AS REQUIRED BY SECTION 163.360(4) OF THE FLORIDA STATUTES. WHEREAS, Chapter 163, Part III, Florida Statutes, provides for community redevelopment by the creation of a community redevelopment agency if certain conditions of blight exist, as defined in Section 163.340, Florida Statutes; and WHEREAS, on July 17, 2019, via Resolution No. 2019-30892, the Mayor and City Commission adopted a Finding a Necessity, declaring that a blighted area (as such term is defined in Section 163.340, Florida Statutes) exists within the area generally bounded by 87th Terrace to the north, the Atlantic Ocean to the east, 65th Street to the south, and Rue Notre Dame to the east; and WHEREAS, the Mayor and City Commission further declared in Resolution 2019- 30892 that the rehabilitation, conservation, redevelopment, or a combination thereof, of the North Beach Redevelopment Area is necessary in the interest of the public health, safety, morals, or welfare of the City of Miami Beach and the residents within the North Beach Redevelopment Area; and WHEREAS, on July 8, 2020, the Board of County Commissioners of Miami-Dade County, Florida, adopted Resolution No. R-619-20, accepting the finding of necessity and delegating to the City of Miami Beach the powers to create the North Beach Community Redevelopment Agency (the "North Beach CRA") and to prepare and adopt a community redevelopment plan for the North Beach Redevelopment Area; and WHEREAS, the Mayor and City Commission find that there is a need for a community redevelopment agency to carry out community redevelopment and reverse the economic decline in North Beach; and WHEREAS, Section 163.357, Florida Statutes, authorizes the City's governing body to declare itself to be the members of the community redevelopment agency; and WHEREAS, on February 10, 2020, pursuant to Resolution No. 2021-31596, the Mayor and City Commission created the North Beach CRA pursuant to Section 163.357 of the Florida Statutes, declaring that the members of the City Commission shall serve as the members of the North Beach CRA, in the same manner as is currently structured for the City's existing community redevelopment agency, the Miami Beach Redevelopment Agency; and WHEREAS, the City has prepared a draft North Beach CRA redevelopment plan with public input and guidance from several existing planning documents, including the North Beach Master Plan, which draft redevelopment plan is attached as Exhibit "A" hereto (the "draft Redevelopment Plan"); and WHEREAS, the Chairperson and Members of the North Beach CRA Board desire to transmit the draft Redevelopment Plan, pursuant to Section 163.360 of the Florida Statutes, to the City's Planning Board, acting as the local planning agency, for review and recommendations as to the draft Redevelopment Plan's conformity with the City's comprehensive plan. NOW, THEREFORE, BE IT DULY RESOLVED BY THE CHAIRPERSON AND MEMBERS OF THE NORTH BEACH COMMUNITY REDEVELOPMENT AGENCY, that the Chairperson and Members of the North Beach Community Redevelopment Agency hereby transmit the draft Redevelopment Plan for the North Beach CRA to the City's Planning Board for review and recommendations as to its conformity with the City's Comprehensive Plan, as required by section 163.360(4) of the Florida Statutes. PASSED and ADOPTED THIS I/ day of YhGrck 2021. ATTEST: -3/4,,ritst_ RAFA L E. GRANADO, SECRETARY-- `"""'... DAN GELBER, CHAIRPERSON 4-..W. * INCORPORATED: * 0 • s-5/ .... 41411 26,E Approved as to Form and Legal Sufficiency: North Beach CRA General Counsel NBCRA 1. MIAMI BEACH COMMISSION MEMORANDUM TO: Honorable Mayor and Members of the City Commission FROM: Raul J.Aguila, Interim City Manager DATE: March 17, 2021 SUBJECT:A RESOLUTION OF THE CHAIRPERSON AND MEMBERS OF THE NORTH BEACH COMMUNITY REDEVELOPMENT AGENCY TRANSMITTING THE DRAFT NORTH BEACH REDEVELOPMENT PLAN TO THE CITY'S PLANNING BOARD FOR REVIEW AND RECOMMENDATIONS AS TO ITS CONFORMITY WITH THE CITY'S COMPREHENSIVE PLAN, AS REQUIRED BY SECTION 163.360(4)OF THE FLORIDA STATUTES. RECOMMENDATION Adopt the Resolution which transmits the draft Redevelopment Plan, in substantial form, for review by the Planning Board, as required by Florida law. BACKGROUND/HISTORY On February 14, 2018, the City Commission, via Resolution No. 2018-30170, accepted the recommendation of the Finance and Citywide Projects Committee (FCWPC) and authorized the Administration to discuss creation of a North Beach Community Redevelopment Agency (NBCRA)with Miami-Dade County.. On February 14, 2018, the City Commission, via Resolution No. 2018-30171, accepted the recommendation of the Neighborhoods & Community Affairs Committee (NCAC) and authorized development of a "Quality of Life Plan" consistent with the North Beach Master Plan, with such projects to be funded by a dedicated funding stream such as a Community Redevelopment Agency(CRA). On July 25, 2018, the City Commission, via Resolution No. 2018-30432, accepted the recommendation of the NCAC to commence CRA discussions with Miami-Dade County, in order to fund projects contained in the "Quality of Life Plan" and originating from the North Beach Master Plan. On July 17, 2019, the City Commission, via Resolution No. 2019-30892, adopted a Finding a Necessity, declaring that a blighted area (as defined in Section 163.340, Florida Statutes) exists within the area generally bounded by 87th Terrace to the north, the Atlantic Ocean to the east, 65th Street to the south, and Rue Notre Dame to the west (the "North Beach Redevelopment Area"). Page 2149 of 2284 On July 8, 2020, the Board of County Commissioners of Miami-Dade County adopted Resolution No. R-619-20, accepting the Finding of Necessity and delegating to the City of Miami Beach the powers to create the North Beach Community Redevelopment Agency ( "NBCRA") and to prepare and adopt a community redevelopment plan for the North Beach Redevelopment Area within one year. On February 10, 2021, City Commission Resolution No. 2021-31596 formally established the agency known as the North Beach CRA, and declared the Mayor and City Commission to be its governing body, with the City Manager and City Attorney serving as the NBCRA's Executive Director and General Counsel, respectively. ANALYSIS The Community Redevelopment Act of 1969, Chapter 163, Florida Statutes, governs CRAs and the use of a portion of existing property taxes for economic revitalization purposes. By adopting the Finding of Necessity in 2019, the Mayor and City Commission declared a need for a CRA to carry out community redevelopment and reverse the economic decline in North Beach. Upon accepting the Finding of Necessity, Miami-Dade County Resolution R-16-20 delegated statutory powers to the City to create a CRA, for which the City Commission took formal action in February 2021. As part of the process of preparing a redevelopment plan, the Community Redevelopment Act requires the CRA to submit the plan to the local planning agency for review and recommendations as to its conformity with the City's Comprehensive Plan for the development of the municipality as a whole. Pursuant to Section 163.360, Florida Statutes, only after receiving recommendations from the local planning agency, in this case the City's Planning Board, can the CRA take action to adopt the plan. Subsequent to the week-long public design charrette in January 2021, the City Administration and its consultant team have prepared a draft Redevelopment Plan for the North Beach CRA, which is attached as Exhibit "A" of the Resolution accompanying this Memorandum (the "Redevelopment Plan or"Plan"). As documented in recent Letters to Commission (LTC 434-2020 and LTC 456-2020), the public has been invited on several occasions to learn about the Plan and contribute feedback. Following a December 15, 2020 public kick off meeting to introduce the Plan's format and field questions from 80 participants, the January 2021 public design charrette was attended by 580 participants over six (6) interactive public sessions and eight (8) focus group sessions representing diverse stakeholder interests. During the public design charrette, members of the public articulated five overarching concepts which have been explicitly incorporated into strategies within the Redevelopment Plan: 1. Use the CRA/Tax Increment Financing to implement existing plans; 2. Focus on short-term successes that build confidence; 3. Increase resilience; 4. Attract investment that is transformative, but respectful of context; and 5. Build staff capacity to represent North Beach. At a March 8, 2021 virtual meeting, the City presented a summary of the draft Redevelopment Plan and hosted a public discussion for over 100 participants. In addition to social media and email announcements, the City mailed a bilingual postcard flyer to over 21,000 North Beach households and commercial properties, inviting them to review the draft Plan online, provide comment, and attend the March 8 virtual meeting. Since the March 8 virtual meeting date, the Page 2150 of 2284 draft Plan has been available online for review and public comment on the City's website, as well as recordings of all of the foregoing public virtual events and related public presentations, at www.miamibeachfl.gov/NorthBeachCRA. It is anticipated that the Ad Hoc North Beach CRA Advisory Committee will provide input on the draft Plan, but the timeline for the Committee's involvement cannot be estimated until Committee members are appointed by the City Commission and meetings commence. It is currently projected that in May 2021, the City Commission and CRA Board will formally adopt and transmit the Redevelopment Plan to Miami-Dade County for approval by the Board of County Commissioners. SUPPORTING SURVEY DATA Consistent with the goals articulated in the North Beach Quality of Life Plan, the most recent City of Miami Beach Resident Satisfaction Survey noted that, among participants' highest priorities, are the condition and cleanliness of streets and efforts to manage stormwater drainage and flooding. Over 580 people participated during the charrette process and 74% of those who responded to polling expressed high interest in seeing CRA funds spent on resilience measures such as higher roads, drainage systems and pumps, and shoreline defenses. FINANCIAL INFORMATION The adopted boundaries of the CRA delineate the area within which tax revenue will be generated and captured during the 30-year life of the CRA, for expenditure on investments and projects that address the needs of the North Beach Community Redevelopment Area identified in the Finding of Necessity. The Redevelopment Plan will provide insight into preliminary projections for tax revenue increases, which hopefully will be accelerated by economic development resulting from CRA initiatives. CONCLUSION Following the delegation of authority by Miami-Dade County and creation of the NBCRA by the City Commission, approval of the Resolution transmitting the Redevelopment Plan to the local planning agency is a formality required by statute. The Resolution declares that the Chairperson and Members of the North Beach CRA Board transmit the draft Redevelopment Plan to the Planning Board for review with conformity with the City's Comprehensive Plan. Applicable Area North Beach Is this a "Residents Right Does this item utilize G.O. to Know" item. pursuant to Bond Funds? City Code Section 2-14? Yes No Strategic Connection Prosperity- Revitalize targeted areas and increase investment. Legislative Tracking Economic Development Page 2151 of 2284 ATTACHMENTS: Description ❑ Resolution ❑ Attachment A- Draft NBCRA Redevelopment Plan Page 2152 of 2284 RESOLUTION NO. A RESOLUTION OF THE CHAIRPERSON AND MEMBERS OF THE NORTH BEACH COMMUNITY REDEVELOPMENT AGENCY TRANSMITTING THE DRAFT NORTH BEACH REDEVELOPMENT PLAN TO THE CITY'S PLANNING BOARD FOR REVIEW AND RECOMMENDATIONS AS TO ITS CONFORMITY WITH THE CITY'S COMPREHENSIVE PLAN, AS REQUIRED BY SECTION 163.360(4) OF THE FLORIDA STATUTES. WHEREAS, Chapter 163, Part III, Florida Statutes, provides for community redevelopment by the creation of a community redevelopment agency if certain conditions of blight exist, as defined in Section 163.340, Florida Statutes; and WHEREAS, on July 17, 2019, via Resolution No. 2019-30892, the Mayor and City Commission adopted a Finding a Necessity, declaring that a blighted area (as such term is defined in Section 163.340, Florida Statutes) exists within the area generally bounded by 87th Terrace to the north, the Atlantic Ocean to the east, 65th Street to the south, and Rue Notre Dame to the east; and WHEREAS, the Mayor and City Commission further declared in Resolution 2019- 30892 that the rehabilitation, conservation, redevelopment, or a combination thereof, of the North Beach Redevelopment Area is necessary in the interest of the public health, safety, morals, or welfare of the City of Miami Beach and the residents within the North Beach Redevelopment Area; and WHEREAS, on July 8, 2020, the Board of County Commissioners of Miami-Dade County, Florida, adopted Resolution No. R-619-20, accepting the finding of necessity and delegating to the City of Miami Beach the powers to create the North Beach Community Redevelopment Agency(the "North Beach CRA") and to prepare and adopt a community redevelopment plan for the North Beach Redevelopment Area; and WHEREAS, the Mayor and City Commission find that there is a need for a community redevelopment agency to carry out community redevelopment and reverse the economic decline in North Beach; and WHEREAS, Section 163.357, Florida Statutes, authorizes the City's governing body to declare itself to be the members of the community redevelopment agency; and WHEREAS, on February 10, 2020, pursuant to Resolution No. 2021-31596, the Mayor and City Commission created the North Beach CRA pursuant to Section 163.357 of the Florida Statutes, declaring that the members of the City Commission shall serve as the members of the North Beach CRA, in the same manner as is currently structured for Page 2153 of 2284 the City's existing community redevelopment agency, the Miami Beach Redevelopment Agency; and WHEREAS, the City has prepared a draft North Beach CRA redevelopment plan with public input and guidance from several existing planning documents, including the North Beach Master Plan, which draft redevelopment plan is attached as Exhibit "A" hereto (the '`draft Redevelopment Plan"); and WHEREAS, the Chairperson and Members of the North Beach CRA Board desire to transmit the draft Redevelopment Plan, pursuant to Section 163.360 of the Florida Statutes, to the City's Planning Board, acting as the local planning agency, for review and recommendations as to the draft Redevelopment Plan's conformity with the City's comprehensive plan. NOW, THEREFORE, BE IT DULY RESOLVED BY THE CHAIRPERSON AND MEMBERS OF THE NORTH BEACH COMMUNITY REDEVELOPMENT AGENCY, that the Chairperson and Members of the North Beach Community Redevelopment Agency hereby transmit the draft Redevelopment Plan for the North Beach CRA to the City's Planning Board for review and recommendations as to its conformity with the City's Comprehensive Plan, as required by section 163.360(4) of the Florida Statutes. PASSED and ADOPTED THIS day of 2021. ATTEST: RAFAEL E. GRANADO, SECRETARY DAN GELBER, CHAIRPERSON Approved as to Form and Legal Sufficiency: ti 3 —9,-2v North Beach CRA General Counsel Page 2154 of 2284 ...X... -, 7.404 nd•-•:.s:_;::'vs. '- • - .•.,. .41. . ... ., ..: -.... .0' - • 1. , te .4p,. iit . .0.0. „I. . ._ ..":`,....n. ...• . - -• ,a, - p -,,,„..,.. 4....,* . • sr' - .- ..- "+...., ' • '4 4416 '....,:•..,...jc..4104' 4-:004'.4.... , 7. ..... '.' 4k. 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' *!•40 , , . t•A-, •4 , - _______ 11 . - ,A. ii,-j.— ‘.104.1a • North Beach Community Redevelopment Agency Redevelopment Plan Public Draft - March 2021 Page 2155 of 2284 The North Beach Community Redevelopment Agency Plan Disclaimer The information in this document uses information provided by a variety of external parties that Daedalus Advisory Services,Dover Kohl&Partners and Redevelopment Management Associates("the Consultant Team") have no control over,but that are believed to be reliable sources of information (such as the US Census Bureau,the City of Miami Beach and local real estate professionals).As such, the consultants take no responsibility for the accuracy of the underlying figures presented in this report,but believe that they are fair and accurate descriptions of the North Beach conditions as of the date of this report. The information in this document is provided for information purpose only. It does not constitute any offer,recommendation or solicitation to any person to enter into any transaction or adopt any investment strategy,nor does it constitute any prediction of likely future changes in prices,rates, figures or any representation that any such future movements will not exceed those shown in any illustration.Users of this document should seek advice regarding the appropriateness of making any investment strategies based on information in this document and should understand that statements regarding future prospects may not be realized.Opinion, projections and estimates are subject to change without notice. No member of the Consultant Team is an investment adviser,and is not purporting to provide you with investment,legal or tax advice.The Consultant Team accepts no liability and will not be liable for any loss or damage arising directly or indirectly(including special,incidental or consequential loss or damage)from your use of this document,howsoever arising,and including any loss,damage or expense arising from,but not limited to,any defect,error,imperfection,fault,mistake or inaccuracy with this document,its contents or associated services,or due to any unavailability of the document or any thereof or due to any contents or associated services. 2 Page 2156 of 2284 vV The North Beach Community Redevelopment Agency Plan TABLE OF CONTENTS Executive Summary 6 1. Introduction 10 1.1. Background to this CRA 10 1.2. CRA District's Location 11 1.3. The Redevelopment Planning Process 15 2. Administration & Governance 21 2.1. Power and Authority of the Community Redevelopment Agency 21 2.2. Time Requirements to Complete Redevelopment Projects 29 2.3. Conformity with the City of Miami Beach's Comprehensive Plan 29 2.4. Safeguards for Redevelopment Carried out Pursuant to the Plan 29 25. Policy Guidelines for CRA Activities 31 3. Existing Conditions 34 3.1. Population and Households 35 3.2. Age Characteristics of the Population 36 3.3. Race and Ethnicity 37 3.4. Income, Employment&Education 39 3.5. Housing Characteristics 41 4. Real Estate Analysis 45 4.1. Miami Beach Real Estate Market Overview and Trends 45 4.2. CRA District Real Estate Trends and Drivers 47 5. Neighborhood Analysis 56 5.1. Town Center 56 5.2. Normandy Isles 59 5.3. West Lots 60 5.4. North Shore 61 6. Beautification and Infrastructure Analysis 62 3 Page 2157 of 2284 0 The North Beach Community Redevelopment Agency Plan 6.1. Public Realm Improvements 62 6.2. Traffic and Pedestrian Safety 66 6.3. Multi-Modal Access 68 6.4. Parks, Gardens and Green Spaces 69 6.5. Adaptation Planning 69 7. Redevelopment Plan Concepts 72 7.1. Economic Development Drivers 72 7.2. Land Use and Zoning 75 7.3. Neighborhood Projects and Impacts 75 7.4. Resiliency& Infrastructure 77 7.5. Regional Collaboration and Intergovernmental Coordination 79 8. Goals and Implementation Strategies 81 8.1. Redevelopment Goal 1: Provide Economic Development Opportunities for Businesses, Property Owners, and Residents. 82 8.2. Redevelopment Goal 2: Invest in Resiliency& Infrastructure 84 8.3. Redevelopment Goal 3: Strengthen Cultural Arts, Branding&Marketing, and Communication 86 8.4. Redevelopment Goal 4: Protect and Enhance the Neighborhood Character89 8.5. Redevelopment Goal 5: Improve the Quality of Life for Residents and Visitors 93 8.6. Redevelopment Goal 6: Leveraging Resources for Community Redevelopment 94 9. Financial Analysis 97 9.1. A Tax Increment Financing(TIF) Overview 97 9.2. Projected TIF Proceeds Over Time 100 10. Appendices 105 Appendix 1: Resolution No. R-619-20 declared an Area in the City of Miami Beach to be Blighted and accepted the Finding of Necessity Study. 105 Appendix 2: City Commission Resolution No. 2021-31596 created the North Beach Community Redevelopment Area (NBCRA) 106 4 Page 2158 of 2284 (j) The North Beach Community Redevelopment Agency Plan Appendix 3: Resolution No. established the NBCRA Trust Fund. 107 Appendix 4: Resolution No. delegated certain powers conferred on the County Commission by the Act to the City and the NBCRA to implement the Plan for the Redevelopment Area. 108 5 Page 2159 of 2284 The North Beach Community Redevelopment Agency Plan Executive Summary In 1969, the State of Florida's Legislature authorized creation of the Community Redevelopment Act, which became Chapter 163 Part III of the Florida Statutes (the "Act"). The legislative intent of the Act was to allow a City or County to create Community Redevelopment Agencies (CRAs) to assist in the elimination of slum and/or blighted conditions, utilizing legal definitions of"slum and blight"as defined in Finding of Necessity reports. Those findings determine the need for redevelopment and provide the foundation for the creation of a Redevelopment Plan to address slum and/or blighted conditions. The City of Miami Beach in July 2019 and Miami-Dade County,in July 2020, approved a Finding of Necessity to create the Community Redevelopment Agency (CRA) in North Beach. The North Beach CRA Redevelopment Plan (the "Plan") is a required component in the creation of the CRA.This Plan is a legal guiding document that defines authority and parameters,while also highlighting restrictions and limitations,given the Plan will be implemented with tax increment revenue.This CRA is designated to cover the area generally described as bounded on the north by 87th Terrace, on the south by 67th Street, on the east by the Atlantic Ocean, and on the west by Rue Notre Dame as the North Beach Community Redevelopment Area. The plan was initiated through an extensive process of public engagement,which included a public town hall kick-off meeting and a virtual, week-long charrette, both designed to invite public participation and feedback. Several thematic focus groups were organized to listen to and collate views from a diverse group of participants, including: 1) Residents and Neighborhood Advocates, 2) Business Organizations, 3) Regional Groups, 4) Historic Preservationists, 5)Affordable and Workforce Housing Advocates, 6) Industry/Workforce/Economic Development Organizations,7) Real Estate and Development Community, and 8) City Staff. During the Public Design Charrette, the team condensed feedback from more than 165 attendees and also incorporated initiatives derived from previous studies, reports, and masterplans that were considered valid and relevant. This effort resulted in a consensus set of five guiding principles for planning purposes which are as follows: • Use the CRA to implement existing plans; • Focus on short-term successes that build confidence; • Increase resilience; • Attract investment that is transformative,but respectful of context; 6 Page 2160 of 2284 The North Beach Community Redevelopment Agency Plan ■ Build staff capacity to represent North Beach. Together, the guiding principles and the regulatory framework governing CRAB resulted in the proposed Plan, which presents redevelopment goals and implementation strategies within a legal mechanism for identified methods to utilize CRA funding via tax increment revenue derived from within the designated boundary. These redevelopment goals cover a range of project types across several implementation dimensions such as scale, scope, cost, time duration, and potential impact outcomes. Overall, the CRA Plan generally envisions a vibrant, resilient community with a Town Center, increased housing density, preservation of historic structures, access to recreational amenities, available public parking,and additional restaurant and retail offerings to support new and current residents. In summary, the plan proposes six major categories of redevelopment goals and opportunities, as shown in the table below. ent 1 Provide Economic Opportunities around improving physical Development Opportunities structures, creating programs to increase for Businesses, Property occupancy, increasing variety of business offerings, Owners, and Residents and access to labor and training resources. 2 Invest in Resiliency& These are cross-cutting goals and address Infrastructure improvements necessary to support and implement the goals of the whole CRA Plan, but focus on civil engineering and climate change adaptations. 3. Strengthen Cultural Arts, This expands on the "unique features" of the Branding&Marketing, and district and begins with asset identification and Communication market positioning. Sample activities include heritage tourism,branding, marketing and communications, and signature promotional events. 4. Protect and Enhance the This goal builds on the look, feel, and movement Neighborhood Character within a residential area. It involves all aspects of land use, lot size, structure heights, and greenery, while also looking at business uses, walkable main streets, safe alleyways, and traffic flow. Sample 7 Page 2161 of 2284 • The North Beach Community Redevelopment Agency Plan areas include: Town Center, Normandy Isles Fountain Area, West Lots and North Shore. 5. Improve the Quality of Life Quality of Life measures can be highly subjective, for Residents and Visitors but almost always include measures related to access to parks and public spaces, health and well- being, and neighborhood quality. Sample activities include: community spaces and enhanced public safety. 6. Leveraging Resources for Funding is achieved through many means Community including the North Beach CRA Trust Fund, Redevelopment grants, and financing. The CRA may need to leverage their annual funding to implement largescale capital projects. Should the CRA choose to bond or incur other debt to complete capital projects, a dedicated revenue source in the annual budget will need to be identified for debt service. The CRA can also utilize the full range of state, local, federal and other funding mechanisms for redevelopment depending on the project under consideration. This CRA Plan contemplates the use of tax increment financing(TIF) as a tool to stimulate economic redevelopment and fund the goals and strategies shown above. The TIF approach estimates the future tax revenue to the city resulting from new real estate development along with increases to property values for existing properties. At present, the "base"taxable value for the CRA Trust Fund is estimated at$1,477 billion USD (2021) based on Property Appraiser data. Future revenue projections are based on three factors: 1) an annual growth rate of the Taxable Value (%); 2) increased Taxable Value from new development ($); and 3) millage rates ($/$1,000 in value). Figure 1 below shows Projections of Tax Increment Growth in the CRA district over the next 30 years. These forecasts are not predictions as market conditions and property values shift in unpredictable ways. The projections may be updated to reflect appropriate market conditions and millage rates as of the time the projections are made. 8 Page 2162 of 2284 The North Beach Community Redevelopment Agency Plan In this case, the following Figure 1:Projected Tax Increment Growth in the CRA District assumptions have been made: - In«ement ■ Year 1-5: the taxable Tease.values taxes Taxacle values Property toes BeBasyeer $ 1,477,.820,868 $ 15,380,903 $ S TIF YR 1 S 1,499,785,199 S 15,591,317 $ 22,184,313 S 230,414 values have been TIF YR 2 S 1,531,280,688 S 15,918,735 S 53,659,802 S 557,831 forecasted to TOW TIF YR 3 $ 1,573,084,651 $ 16,353,316 $ 95,463,765 $ 992,413 b TIF YR 4 $ 1,824,818,904 $ 18,889,051 $ 146,998,018 S 1,528,147 from 1%for the first TIF YR 5 $ 1,873357,472 S 17,395,722 $ 195,738.588 S 2,034,819 TIF YR 6 $ 1,723,558,196 $ 17,917,594 $ 245,937,310 $ 2,556,690 five years of the TIF YR 7 S 1,775,284,942 S 16,455,122 S 297,644,056 $ 3,094,218 TIF YR 8 $ 1,828,522,890 S 19,008,775 S 350,902,004 $ 3,847,872 CRA's existence up to TIF YR 9 $ 1,883,378,577 S 19,579,039 $ 405,757,891 $ 4,218,135 TIF YR 10 $ 1,939,879,934 $ 20,166,410 $ 462,259,048 S 4,805,506 the 3%growth rate in TIF YR 11 S 1,978,677,533 $ 20,689,738 S 501,056,847 $ 5,208,835 TIF YR 12 $ 2,018,251,083 S 20,981,133 $ 540,630,197 $ 5,620,229 years 5-10 TIF YR 13 $ 2,058,616,105 $ 21,400,755 S 580,995,219 S 6,039,852 TIF YR 14 5 2,099,788,427 S 21,828,771 S 622,187,541 S 6,487,867 T1F YR 15 $ 2,141,784,195 $ 22,285,346 $ 864,163,309 S 6,904,443 • Year 5-10: maintain a TIF YR 16 $ 2,184,619,879 S 22,710.653 $ 706,998,993 S 7,349,749 3%growth rate as T1F YR 17 t 2,228,312,277 S 23,164,886 S 750,691,391 $ 7,803,962 71F YR 18 $ 2,272,878,522 $ 23,828,183 S 795,257,838 $ 8,267,260 CRA initiatives create T1F YR 19 $ 2,318,336,093 S 24,100,727 5 840,715,207 S 8,739,823 TIF YR20 $ 2,364,702,815 S 24,582,741 $ 887,081,929 $ 9,221,838 meanin ful im acts TIF`0121 S 2,411,996,871 $ 25,074.396 $ 934,375.985 S 9,713,492 g P TIF YR 22 $ 2,460,238,809 $ 25,575,884 S 982,815,923 $ 10,214,980 on the area's ro ert T1F YR 23 S 2,509,441,545 S 26,087.401 $ 1,031,820,858 S 10.726,498 P p }' TIF YR 24 S 2,559,630,376 $ 26,809,149 S 1,082,009,490 S 11,248,246 values TIF YR 25 $ 2,610,822,983 S 27,141,332 $ 1,133,202,097 $ 11,780,429 T1F YR28 S 2.683,039,443 $ 27,884,159 $ 1,185,418,557 $ 12,323,258 TIF YR 27 $ 2,716,300,232 S 28,237,842 S 1,238,679,346 S 12,876,939 • Past Year 10: decline TIF YR 28 $ 2,770,626,236 S 28,802,599 S 1,293,005,3,0 $ 13,441,696 TIF YR 29 $ 2,826,038,761 S 29,378,801 $ 1,348,417,875 S 14,017,748 to a steady state that TIF YR 30 $ 2,682,559.536 $ 29,966,224 $ 1,404,938,850 $ 14,805,321 is set to 2.0%. Tot S 877,065,612 $20,800,764,593 $216,238,506 Finally, this CRA Redevelopment Plan has been prepared in accordance with the Community Redevelopment Act, Chapter 163, Part III, F.S. ("the Act"). The adoption of this plan and any subsequent modifications or amendments shall follow the required procedures through public hearings and the adoption of the necessary resolutions and ordinances. 9 Page 2163 of 2284 The North Beach Community Redevelopment Agency Plan 1 . Introduction 1.1. Background to this CRA Over the last 25 years, several planning tools were created that presented compelling ideas about how to revitalize the North Beach area in the City of Miami Beach, which is generally known as the part of the City north of 63rd Street. Some of the main opportunities that had been proposed in the past still have the potential today to improve the quality of life for the residents of North Beach. One of the most recent plans for North Beach is the 2016 Plan NoBe, a master plan that identified projects to revitalize the area. Since the adoption of Plan NoBe, the City has executed some of the recommendations, such as establishing historic districts and identifying North Beach projects in the 2018 General Obligation (G.O.) Bond. One of the most important recommendations the City has implemented from the 2016 Plan NoBe was to establish a Community Redevelopment Agency(CRA),which the City prioritized in 2019 with the approval of the Finding of Necessity for the North Beach CRA. 10 Page 2164 of 2284 • The North Beach Community Redevelopment Agency Plan 1.2. CRA District's Location The following Legal Description describes that certain geographic area of the North Beach CRA in the City of Miami Beach, Florida, which area is generally described as bounded on the north by 87th Terrace, on the south by 67th Street, on the east by the Atlantic Ocean, and on the west by Rue Notre Dame as the North Beach Community Redevelopment Area or the Redevelopment Area. This Area covers 326.4 acres (.51 square miles). Figure 2:The CRA District's Boundaries v iiiii :1 ....\---,tt '.t •114' j '' i�1 19_1.. w y .......7'..1.;:,-L.8.2. ` Y- .....� r ... M. -TT,• "1 '• i •i.iiv . t F= '2,-,.. stw WS a=. 1. J1 % •.• _'311,..g.,.,-*,;,, _ .! It ,' :-.•- v inti• -•,:f. ••••1 -c r : us`-.a.pi#'i , 'w ` ♦ ...,..V..:-., .. ..4 ,. '' , ~ �`� , Y 14'Wk.•.► •fir ..., • 'r .- 1r.•5,h �� '140%;` $I. , .� 0 A i 8 . %'- -� a sc i I' It r: ••M� p1NYl 01w 11 Page 2165 of 2284 The North Beach Community Redevelopment Agency Plan Legal Description Being a parcel lying in a portion Section 2, Township 53 South, Range 42 East, Miami-Dade County, City of Miami Beach, Florida. Begin at the intersection of the North line of said Section 2 said line also being the Northern Limits of the City of Miami Beach with the Erosion Control Line, according to the plat thereof as recorded in Plat Book 105, Page 62 of the Public Records of Miami-Dade County Florida; Thence Southerly along the said Erosion Control line to the intersection with the extension of the northerly right of way line of 79th Street (Eulalla St as labeled on plat) Altos Del Mar No.2 according to the plat there as recorded in Plat Book 8, Page 41 of the public records of Miami-Dade County Florida; Thence Westerly along the northerly right of way line and its extensions of said 79th Street to the intersection with the Easterly right of way line of Collins Avenue according to said plat; Thence Southerly along the said easterly right of way line and its extensions of Collins Avenue to the intersection with the northerly right of way line of 77th Street (Clematis Street as labeled on said plat); Thence Easterly along the northerly right of way line of said 77th Street and its extensions to the intersection with the said Erosion Control Line; Thence Southerly along the Erosion Control Line to the intersection with north line of a 20 foot side alley"Atlantic Heights" according to the plat thereof as recorded in Plat Book 4, Page 146, of the public records of Miami-Dade County Florida; Thence westerly along the northerly line of said 20 foot alley to the intersection with the easterly right of way line of Collins Avenue according to said plat; Thence Southerly along the said easterly right of way line of Collins Avenue to the intersection with the northerly line of Lot 44 Block 1 "Amended Plat of 2nd Ocean Front Subdivision"according to the plat thereof as recorded in Plat Book 105, Page 62, of the public records of Miami-Dade County Florida; Thence Easterly along the north line of said Lot 44 to the intersection with the Erosion Control Line; Thence Southerly along the Erosion Control Line to the intersection with the southerly line of said Lot 44 Block 1; Thence Westerly along the said southerly line of Lot 44 to the intersection with the easterly right of way line of Collins Avenue according to said plat; Thence Northerly along the said easterly line of Collins Avenue to the intersection with the easterly extension the northerly right of way line of 67th Street; Thence Westerly along the said northerly right of way line of 67th Street to the intersection with the easterly right of way line of Indian Creek Drive; Thence Northwesterly along the said easterly right of way line of Indian Creek Drive to the intersection with the south line of Block 15,"Normandy Beach South" according to the plat thereof as recorded in Plat Book 21, Page 54 of the 12 Page 2166 of 2284 The North Beach Community Redevelopment Agency Plan public records of Miami-Dade County Florida; Thence Westerly along the southerly lines and the extensions of Blocks 15, 16 and 17 to the intersection with the easterly boundary of Block 1, "Ocean-Side Section of the Isle of Normandy", according to the plat thereof as recorded in Plat Book 25, Page 60,of the public records of Miami-Dade County, Florida; The following Ten (10) courses are according to said"Ocean-Side Section"plat; (1)Thence Southerly along said easterly line of Block 1 to the intersection with the south line of Lot 17 of said Block 1; (2) Thence Westerly along the said southerly line of Lot 17 and its extension to the intersection with the westerly right of way line of Bay Drive: (3)Thence Southerly and Westerly along said right of way and its extension of Bay Drive through the transition to the easterly right of way line of Rue Versailles; (4)Thence Northerly along the said easterly right of way line and its extension of Rue Versailles to the intersect with the northerly right of way line of Biarritz Drive; (5) Thence Westerly along the northerly right of way line of said Biarritz Drive through the transition to the easterly right of way of Rue Notre Dame; (6)Thence Northwesterly along the said easterly right of way and its extensions of said Rue Notre Dame through the transition to the southerly right of way line of Marseille Drive; (7)Thence Easterly along the said southerly right of way and its extensions to the transition to westerly right of way line of Bay Drive; (9) Thence southerly along the westerly right of way of said Bay Drive to the intersection with the southerly line of Lot 10, Block 2 ; (10)Thence Northeasterly along the southeasterly extension and the southerly line of said Lot 10 to the easterly line of Block 2 of said "Ocean-Side Section of the Isle of Normandy"; Thence Northwesterly to the intersection with the north line of Block 1, "Normandy Beach South" according to the plat thereof as recorded in Plat Book 21, Page 54 of the public records of Miami-Dade County Florida; Thence Easterly along the southerly lines and the extensions of Blocks 1, 2 and 3 to the intersection with the easterly Mean High line of a Canal, as shown on "Park View Island" according to the Plat thereof as recorded in Plat Book 60, Page 6, of the public records of Miami-Dade County Florida; Thence Northerly along said easterly Mean High Water Line to the intersection the northerly Mean High Water Line of said Canal'; Thence Westerly along said northerly Mean High Water Line of said Canal and through transition to the easterly Mean High Water Line of Tatum Waterway as shown on"Tatum Waterway Subdivision" according to the plat thereof as recorded in Plat Book 46, Page 2, of the public records of Miami-Dade County Florida; Thence Northerly along said easterly Mean High Water Line to the intersection with the northerly right of way line of 77th Street; Thence Easterly along said northerly right of way line and its extensions to the intersection with the westerly right of way line of Dickens Avenue (Fifth Avenue as labeled on plat) "Altos Del Mar No.3" according to the plat thereof as 13 Page 2167 of 2284 The North Beach Community Redevelopment Agency Plan recorded in Plat Book 8, Page 41, of the public records of Miami-Dade County Florida; Thence Southerly along said westerly right of way line and its extensions of Dickens Avenue to the intersection with the southerly right of way line 75th Street (Allamanda Street as labeled on plat); Thence Easterly along said southerly right of way line of and its extensions of 75th Street to the intersection with the westerly right of way line of Collins Avenue "Corrected Plat of Altos Del Mar No.1" according to the plat thereof as recorded in Plat Book 31, Page 40 of the public records of Miami-Dade County Florida; Thence Northerly along said westerly right of way line and its extensions of Collins Avenue to the intersection with southerly right of way line of 79th Street (Eulalla Street as labeled on plat); Thence Westerly along the southerly right of way line of said 79th Street and its extensions to the intersection with the westerly right of way line of Collins Court; Thence Northerly along the westerly right of way line of said Collins Court and it extensions according to said plat of"Altos Del Mar No.3", Plat of Hansworth Beach Subdivision" according to the plat thereof as recorded in Plat Book 41, Page 2 and Beach Bay Subdivision" according to the plat thereof as recorded in Plat Book 44, Page 25 of the public records of Miami- Dade County Florida to the intersection with the northerly right of way line 87th Terrace (Nasturtium Street as labeled on said plat of"Altos Del Mar No.2"said line also being the North line of said Section 2 and the Northern Limits of the City of Miami Beach; Thence Easterly along said northerly line to the intersection with the Erosion Control Line to the Point of Beginning. 14 Page 2168 of 2284 The North Beach Community Redevelopment Agency Plan 1.3. The Redevelopment Planning Process The planning process for this North Beach CRA ("NBCRA") Redevelopment Plan included extensive public engagement as detailed below. The comments received from city staff and the public during this process informed the recommendations in this Plan to ensure the community has a voice in the vision for the NBCRA. 1.3.1. Public Engagement Public Town Hall and Kick-Off Meeting Prior to the Virtual Charrette, the team conducted a public kick-off meeting to introduce the public engagement portion of the project to the community and gain momentum for the upcoming Virtual Charrette. On December 15, 2020, the City hosted a virtual public town hall and kick-off meeting attended by over 80 participants. The Administration introduced to the public the City's consultant team engaged to prepare the Redevelopment Plan, Daedalus Advisory Services, Dover Kohl & Partners, and Redevelopment Management Associates. The consultant team delivered a presentation that covered background, procedure, and process about the CRA and Redevelopment Plan, including the timetable for adoption of the Plan in Spring/Summer 2021. Meeting presentation topics included the powers and limitations of the CRA, the relationship between the Redevelopment Plan and Plan NoBe (2016), and the participatory role of the community that will be instrumental in crafting a Redevelopment Plan that transforms North Beach. Much of the informational meeting was interactive,consisting of audience engagement polls and public comment. During the question and answer segment, members of the public expressed a shared goal for revitalization of North Beach and the desire for transparency throughout the process. Virtual Public Design Charrette From Monday, January 11, 2021 through Friday, January 15, 2021, the consultant team hosted a series of meetings to engage the community in a public charrette. Kick-Off Presentation The Charrette week started with 150 virtual attendees to the January kick-off presentation to orient the public to the project with similar presentations to the December project kickoff meeting for those that didn't attend, and an overview of the upcoming events of the week, as well as a small group exercise to get more direct feedback. The small group exercise consisted of groups of less than eight (8) 15 Page 2169 of 2284 The North Beach Community Redevelopment Agency Plan participants sorted into Zoom breakout rooms hosted by the consultant team to lead participants through two exercises. First, participants were asked which of the following categories of potential CRA projects and initiatives are most important: Infrastructure and Resilience, Transportation and Mobility, Housing and Historic Preservation, Community Revitalization and Economic Development, and Parks and Recreation. The results of which are shown below, with Community Revitalization and Economic Development as the most important among the majority of participants, followed by Infrastructure and Resilience. Second,the participants were asked to identify specific project ideas within the category that was most important to them. These project ideas helped inform the consultant team about content for the Redevelopment Plan. Figure 3:Audience Views of the Importance of Various CRA Area Initiatives What Categories Are Most Important to You? 40 30 o ai 20 0 0 d E -- z 10 0 ; Infrastructure and Transportation and Housing and Historic Community Parks and Recreation Resilience Mobility Preservation Revitalization and Economic Development Project Categories During the week-long Public Design Charrette, the consultant team and City staff lead eight(8) focus group meetings and four (4)open studio sessions, while working on potential design and policy solutions for the Redevelopment Area. Virtual Open Studio Following the kick-off presentation, the consultant team lead virtual open studios available to the public to join via Zoom and also made accommodations for in-person participation by request. The public was invited and encouraged to join the team from 16 Page 2170 of 2284 The North Beach Community Redevelopment Agency Plan 11 am to noon and 5pm to 6pm on both Tuesday and Thursday to listen to an overview of the work produced so far, engage in discussions about the potential solutions, and bring suggestions. The goal during this time was to identify key priorities and to build consensus on a vision and direction for the future of the Redevelopment Area and North Beach at-large. The open studio sessions allowed the public to engage with designers (who could share their screens to show draft work- in-progress) as well as interact with city officials and other consultants. Residents, business owners, advocates, and developers visited the open design studio sessions with ideas to further improve the Plan. With almost 60 registrants to each of the four (4) virtual open studios, generally 20 members of the public participated in the virtual meeting at one time, as the public could come and go throughout the studio time based on the flexible discussion format. Focus Group Meetings During the Charrette week, the consultant team held virtual meetings with specific focus groups to learn about how current efforts, concerns, and future goals might be included as a part of the Plan. The Focus Groups were 1) Residents and Neighborhood Advocates, 2) Business Organizations, 3) Regional Groups,4) Historic Preservationists, 5)Affordable and Workforce Housing Advocates, 6) Industry/Workforce/Economic Development Organizations, 7) Real Estate and Development Community, and 8) City Staff. Focus group participants represented the following groups and organizations: Miami Beach United Miami-Dade County Department of Stillwater Drive HOA Regulator and Economic Resources Normandy Shores HOA Miami Design Preservation League Altos del Mar HOA Neighborhood Organization to Save North Beach Miami Beach Chamber of Commerce Affordable Housing Advisory Normandy Fountain Business Committee Association Miami Beach Community Lincoln Road Business Improvement Development Corporation District Housing Authority of Miami Beach Washington Avenue Business Improvement District The Beacon Council South Florida Regional Planning City of Miami Beach Council 17 Page 2171 of 2284 The North Beach Community Redevelopment Agency Plan Miami Beach Adult& Community Kahunah Properties Education Center Claro Development Greater Miami and the Beaches Hotel Turnberry Association Terra Group Mt. Sinai Medical Center Pacific Star Capital CareerSource South Florida FWD Group Urban Centric Analytics PACE Equity Lambert Advisory Lease Florida Work-In-Progress Presentation The week culminated with a"Work-in-Progress"presentation on Friday, January 15, 2021 to summarize the week's events, present the ideas gathered from the community, show how many of these same ideas were implemented in other CRAs throughout Florida, and discuss how these ideas would be incorporated into the Redevelopment Plan going forward. ONE word that comes to mind about North Beach NOW sunshindelayed locallife shabby • P otentialmodernm ace frustrating rgotte flTky charming diIapidatedT ng d isa ppoi ntmen`t colonialoppression slower neighborhood 18 Page 2172 of 2284 The North Beach Community Redevelopment Agency Plan ONE word that comes to mind about North Beach IN THE FUTURE overbuilt .i beautiful walkable • community -a renovated live youthful safe Z e nov a t ) o n creative unique =affordable impossible venice destroyedbygreedl ri 'n d !ya'tState riningfamily aJ �, a, scale welcoming o, rise ga ffordablehousing t thriving The overall goal of the Plan became: "To craft a widely-supported redevelopment plan for the CRA that inspires residents, investors and public officials with what is possible for Miami Beach's North Beach."The emphasis was on the phrase "widely- supported." The five (5) guiding principles of the CRA Plan which came out of the charrette were: 1. Use the CRA/TIF to implement existing plans: The community wanted to see public monies used to implement community-endorsed existing plans including Plan NoBe, and various park plans, mobility plans, affordable housing plans,and resilience plans. The community wanted to see funds utilized to help build the Town Center and make Town Center the "Downtown"for North Beach. The community wanted to see CRA monies used to upgrade water and sewer infrastructure and to support development in the Town Center. 2. Focus on short-term successes that build confidence: Start with"low-hanging fruit"like facade improvements on historic buildings, repaired storefronts, added awnings, replanted street trees, new trash receptacles, and new benches. Participants mentioned wanting to improve the look of the area with signage upgrades to welcome signs, business signs and wayfinding. The community wanted to support temporary uses, pop-up retail and restaurants, whether in vacant shopfronts or on vacant lots. 3. Increase resilience: Charrette participants talked about how Miami Beach faced major sustainability and resiliency challenges and how CRA funds should not just be limited to beautification. Participants expressed a desire to 19 Page 2173 of 2284 coThe North Beach Community Redevelopment Agency Plan see the City and CRA elevate streets, parks, and buildings, build seawalls and replenish beaches. Participants wanted stormwater stored under streets and public lands temporarily to avoid flooding. Some expressed wanting the City to invest in new pumps and pipes to keep North Beach dry. They talked about "greening up" the neighborhood with more landscaping and trees that could perhaps be used to store water. Many talked about making North Beach a complete, multi-modal place where people are less reliant on cars in order to reduce the island's carbon footprint. 4. Attract investment that is transformative,but respectful of context Participants requested that the plan spur business attraction, retention, expansion, and entrepreneurship. Charrette participants wanted to see the plan increase homeownership as well as business ownership. They wanted to improve the multi-family districts but also to protect the Naturally Occurring Affordable Housing (NOAH) and continue to build affordable and workforce housing stock (especially for families). The community expressed wanting to keep North Beach a family-friendly,unique,beach community that was artistic, chic, and authentic. Participants wanted the CRA to facilitate the adaptive reuse and resilience of historic structures. They wanted more entertainment and cultural options and a range of shops and restaurants. 5. Build staff capacity to represent North Beach: The public wanted to see the CRA dedicate staff to attract investment, connect tenants with empty spaces, interact with business owners and coordinate projects, programs and initiatives. Participants wanted staff to work with the Regional Planning Council and County on joint projects in order to leverage local monies to secure matching grants.The public imagined City staff marketing the neighborhood to investors who would recognize the value of and potential of North Beach. 20 Page 2174 of 2284 nThe North Beach Community Redevelopment Agency Plan 2. Administration & Governance Understanding what is legally allowed and required, impacts CRA implementation strategies and initiatives. The Administration& Governance section provides guidance as to the functional mechanics of the CRA, its authority, duties, responsibilities, and policy guidelines that protect and restrict how funds can be used and how decisions are made. 2.1. Power and Authority of the Community Redevelopment Agency The Miami Beach Redevelopment Agency (RDA) was originally created in 1973 under the authority of Florida's Community Redevelopment Act of 1969 (the "Act"), which sought to encourage economic development in blighted areas. The South Shore Community Revitalization Area (also known as South Pointe) was designated in 1976. In 1993, the city designated a second CRA, the Historic Convention Village Redevelopment and Revitalization Area(also known as City Center). In 2005, the South Pointe CRA was discontinued. On July 17, 2019, via Resolution No. 2019-30892, the Mayor and Commission of the City of Miami Beach adopted a Finding of Necessity, declaring that a blighted area exists in North Beach(the "North Beach Redevelopment Area"). On July 8, 2020, the Miami-Dade Board of County Commissioners via Resolution No. R-619-20 (Appendix 1) accepted the Finding of Necessity and delegated to the City of Miami Beach the powers to create the North Beach Community Redevelopment Area (the "North Beach CRA") and to prepare and adopt a community redevelopment plan. On February 10, 2021,the Mayor and City Commission of the City of Miami Beach, via Resolution No. 2021-31596 (Appendix 2), established the North Beach Community Redevelopment Agency (NBCRA) and County Resolution No. (Appendix 3) established the NBCRA Trust Fund. This Community Redevelopment Plan for the NBCRA will give the City of Miami Beach the power to implement the Plan,while confirming that the City,the County, and the NBCRA have entered into an Interlocal Agreement which provided for a time certain for completion of redevelopment activities and delineate responsibilities of the NBCRA, City of Miami Beach, and Miami-Dade County with respect to redevelopment. Resolution No. (Appendix 4) delegated certain powers conferred on the County Commission by the Act to the City and the NBCRA to implement the Plan for the Redevelopment 21 Page 2175 of 2284 The North Beach Community Redevelopment Agency Plan Area. The resolution provided for Miami-Dade County to retain specific powers as follows: • Pursuant to section 163.357 of the Act, one member of the County Commission, or a County Commission designee, may be appointed to serve on the NBCRA's Board (in addition to the other members appointed to the NBCRA Board of Commissioners (the "NBCRA Board" or"Board") • The County Mayor or the County Mayor's designee shall designate a Redevelopment Area Coordinator (the "Redevelopment Area Coordinator"). The Redevelopment Area Coordinator shall serve as the County's liaison to the NBCRA for the Redevelopment Area; • All proposals related to amendments to the Plan and proposals for indebtedness, loans or bond financing pledging tax increment revenues shall be subject to review and approval first by the City Commission and then by the County Commission; and • The City Commission's and the County Commission's approval as to amount, duration, and purpose of bonds, notes, or other indebtedness, and advances pledging or obligating tax increment revenues, must be obtained prior to issuance of any such bond, note, or other form of indebtedness and advances pledging or obligating tax increment revenues. Powers The powers of the North Beach Community Redevelopment Agency shall comply with Chapter 163, Part III, Florida Statutes (F.S.) and the Interlocal Agreement between the NBCRA, the City of Miami Beach, and Miami-Dade County approved through Resolution No. All powers provided by the governing statute shall be granted to the CRA unless specifically prohibited by this Plan or by the Interlocal Agreement between Miami- Dade County,the City,and the NBCRA. Although not required by state statute, an Ad-Hoc North Beach CRA Advisory Committee was also created to make advisory recommendations to the Administration and the City Commission, from a macro perspective, regarding the North Beach CRA. This Advisory Committee has certain powers, which can be modified by City Commission: (1) Providing advisory recommendations regarding the initial creation of the proposed Redevelopment Plan; and 22 Page 2176 of 2284 The North Beach Community Redevelopment Agency Plan (2) Providing advisory recommendations regarding the public projects which would be included in the proposed Redevelopment Plan for the North Beach CRA, including recommendations relative to the overall timing, cost efficiencies, and prioritization of proposed public projects in the North Beach Redevelopment Area; and (3) Provide advisory recommendations regarding the proposed interlocal agreement with Miami-Dade County relating to the North Beach CRA, and all related matters pertaining to the initial establishment of the North Beach CRA. Interlocal Agreement Delegation of Powers A. With the exception of the community redevelopment powers that continue to vest with the County Commission pursuant to section 163.358 of the Act, the NBCRA shall have the right and sole responsibility to exercise the following redevelopment powers specifically delegated by the County Commission pursuant to section 163.370 of the Act: (1) The power to make and execute contracts and other instruments necessary or convenient to the exercise of its powers pursuant to the Act. (2) The power to disseminate information regarding slum clearance and community redevelopment. (3) The power to undertake and carry out community redevelopment and related activities within the Redevelopment Area, which redevelopment may include: (a) Acquisition of a slum area or a blighted area or portion thereof by purchase, lease, option, gift, grant, bequest, devise, or other voluntary method of acquisition; (h) Demolition and removal of buildings and improvements; (c) Installation,construction,or reconstruction of streets,utilities, parks, playgrounds, public areas of major hotels that are constructed in support of convention centers, including meeting rooms, banquet facilities, parking garages, lobbies, and passageways, and other improvements necessary for carrying out in the Redevelopment Area the community redevelopment objectives of the Act in accordance with the Plan; 23 Page 2177 of 2284 The North Beach Community Redevelopment Agency Plan (d)The power to dispose of any property acquired in the Redevelopment Area at its fair value as provided in section 163.380 of the Act, for uses in accordance with the Plan; (e) The power to carry out plans for a program of voluntary or compulsory repair and rehabilitation of buildings or other improvements in accordance with the Plan; (f) The power to acquire real property in the Redevelopment Area by purchase, lease, option, gift, grant, bequest, devise, or other voluntary method of acquisition which, under the Plan, is to be repaired or rehabilitated for dwelling use or related facilities,repair or rehabilitation of the structures for guidance purposes, and resale of the property, or otherwise put to use for the public good as set forth in the Plan; (g) The power to acquire any other real property in the Redevelopment Area by purchase, lease, option, gift, grant, bequest, devise, or other voluntary method of acquisition, when necessary to eliminate unhealthful,unsanitary or unsafe conditions;eliminate obsolete or other uses detrimental to the public welfare;or otherwise to remove or prevent the spread of blight or deterioration or to provide land for needed public facilities; (h) The power to acquire, without regard to any requirement that the area be a slum or blighted area,air rights in an area consisting principally of land over highways, railway or subway tracks, bridge or tunnel entrances,or other similar facilities which have a blighting influence on the surrounding area and over which air rights sites are to be developed for the elimination of such blighting influences and for the provision of housing (and related facilities and uses) designed specifically for, and limited to,families and individuals of low or moderate income; (i) The power to construct the foundations and platforms necessary for the provision of air rights sites of housing(and related facilities and uses) designed specifically for, and limited to, families and individuals of low or moderate income. (4) The power to provide, or to arrange or contract for, the furnishing or repair by any qualified, licensed person or agency, public or private, of services, privileges, works, streets, roads, bridges, public utilities, or other facilities for, or in connection with, the Plan; to install, construct, and reconstruct streets, bridges, utilities, parks, playgrounds, and other public improvements; and to 24 Page 2178 of 2284 CDThe North Beach Community Redevelopment Agency Plan agree to any conditions that it deems necessary and appropriate, which are attached to federal financial assistance and imposed pursuant to federal law relating to the determination of prevailing salaries or wages or compliance with labor standards, in the undertaking or carrying out the Plan and related activities, and to include in any contract authorized by the NBCRA in connection with such redevelopment and related activities, provisions to fulfill such of the conditions as it deems reasonable and appropriate; (5)The power to enter into any building or property in the Redevelopment Area in order to make inspections, surveys, appraisals, soundings, test borings, or contamination tests,with the permission of the owner(s)and to request an order for this purpose from a court of competent jurisdiction in the event entry is denied or resisted; (6) The power to acquire by purchase,lease, option, gift, grant, bequest, devise or otherwise any real property within the redevelopment area (or personal property for its administrative purposes), together with any improvements thereon; (7) The power to hold, improve, clear or prepare for redevelopment any property within the Redevelopment Area acquired by the NBCRA; (8) The power to mortgage, pledge, hypothecate, or otherwise encumber or dispose of any real property within the Redevelopment Area; (9) The power to insure or provide for the insurance of any real or personal property within the Redevelopment Area or operations of the NBCRA against any risks or hazards, including the power to pay premiums on any such insurance; (10) The power to enter into any contracts necessary to effectuate the purposes of the Act; (11)The power to solicit requests for proposals for redevelopment of parcels of real property within the Redevelopment Area contemplated by the Plan to be acquired for redevelopment purposes by the NBCRA and, as a result of such requests for proposals, to advertise for the disposition of such real property to private persons or entities pursuant to section 163.380 of the Act, prior to acquisition of such real property by the NBCRA; (12) The power to invest any community redevelopment funds held in reserves or sinking funds or any such funds not required for immediate disbursement in property or securities in which savings banks may legally invest funds subject 25 Page 2179 of 2284 nThe North Beach Community Redevelopment Agency Plan to their control and to redeem such bonds as have been issued pursuant to section 163.385 of the Act, at redemption price established therein or to purchase such bonds at less than the redemption price, all such bonds so redeemed or purchased to be canceled; (13) Subject to prior approval of the City Commission and the County Commission, which approval or disapproval shall be in the sole and absolute discretion of the City Commission and County Commission, the power to borrow money and to apply for and accept advances, loans, contributions, and any other form of financial assistance from the Federal Government or the state, county, or other public body or from any sources, public or private, for the purposes of the Act,and as a condition of the award of such loan or contribution, to give such security as may be required and to enter into and carry out contracts or agreements in connection therewith; and to include in any contract for financial assistance with the Federal Government for or with respect to community redevelopment and related activities such conditions imposed pursuant to federal laws as the Agency deems reasonable and appropriate which are not inconsistent with the purposes of the Act. It is the expressed intent of the NBCRA not to issue bonds or use any other form of indebtedness until such time as required by a development when bonding or indebtedness is required to complete the project. (14) The power to make or have made all surveys and plans necessary to the carrying out of the purposes of the Act; to contract with any person, public or private,in making and carrying out such plans;and to adopt or approve,modify, and amend such plans, which plans may include, but are not limited to: (a) Plans for carrying out a program of voluntary or compulsory repair and rehabilitation or buildings and improvements; and (b) Plans for the enforcement of state and local laws, codes, and regulations relating to the use of land and the use and occupancy of buildings and improvements and to the compulsory repair, rehabilitation, demolition, or removal of buildings and improvements: and (c) Appraisals, title searches, surveys, studies, and other plans and work necessary to prepare for the undertaking of community redevelopment and related activities; and (15) The power to develop, test, and report methods and techniques, and carry out demonstrations and other activities, for the prevention and the elimination 26 Page 2180 of 2284 • The North Beach Community Redevelopment Agency Plan of slums and urban blight and developing and demonstrating new or improved means of providing housing for families and persons of low income; and (16) The power to apply for,accept, and utilize grants of funds from the Federal Government for such purposes; and (17) The power to prepare plans for and assist in the relocation of persons (including individuals,families,business concerns,nonprofit organizations, and others) displaced from the Redevelopment Area and to make relocation payments to or with respect to such persons for moving expenses and losses of property for which reimbursement or compensation is not otherwise made, including the making of such payments financed by the Federal Government; and (18) The power to appropriate such funds and make such expenditures as are necessary to carry out the purposes of the Act; to make a request to rezone any part of the City or the County or make exceptions from,or revisions to,building regulations; and to enter into agreements with a housing authority, which agreements may extend over any period,notwithstanding any provision or rule of law to the contrary, respecting action to be taken by such county or municipality pursuant to any of the powers granted by the Act; and (19) The power to make a request to the appropriate authority to close, vacate, plan, or replan streets, roads, sidewalks, ways, or other places and to plan or replan any part of the City or the County; and (20) The power to provide funding to support the development and implementation of community policing innovations, subject to any budgetary limitations set forth in the Interlocal Agreement; and (21)The right to exercise any other power that the Florida Legislature grants to community redevelopment agencies after the date of the Interlocal Agreement, subject to approval of the exercise of such power by the City Commission, and if approved by the City Commission, subsequent approval by Miami Dade County. (22) Nothing in the Interlocal Agreement is intended to prohibit the County and the City from exercising their sovereign powers as prescribed by law. B. The following powers may not be paid for or financed by increment revenues: (1) Construction or expansion of administrative building for public bodies or police and fire buildings,unless each taxing authority agrees to such method of 27 Page 2181 of 2284 vV The North Beach Community Redevelopment Agency Plan financing for the construction or expansion, or unless the construction or expansion is contemplated as part of a community policing innovation. (2)Installation,construction,reconstruction,repair or alteration of any publicly owned capital improvements or projects,if such projects or improvements were scheduled to be installed,constructed,reconstructed,repaired,or altered within three years of the approval of the Plan by the County Commission pursuant to a previously approved public capital improvement or project schedule or plan of Miami-Dade County as the governing body which approved the Plan, or the City, unless and until such projects or improvements have been removed from such schedule or plan of Miami-Dade County or the City and three years have elapsed since such removal or such projects or improvements were identified in such schedule or plan to be funded, in whole or in part, with funds on deposit within the community redevelopment trust fund. (3) General government operating expenses unrelated to the planning and carrying out of the Plan. In addition, Florida Statute section 163.370, Powers; counties and municipalities; community redevelopment agencies,states: (5) A community redevelopment agency shall procure all commodities and services under the same purchasing processes and requirements that apply to the county or municipality that created the agency. Authority to Undertake Redevelopment The NBCRA Redevelopment Plan has been prepared in accordance with the Community Redevelopment Act, Chapter 163, Part III, F.S. ("the Act"). The adoption of this Plan and any subsequent modifications or amendments shall follow the required procedures through public hearings and the adoption of the necessary resolutions and ordinances. In recognition of the need to prevent the spread of and eliminate the existence of blighted conditions within the community, the Act confers upon counties and municipalities the authority and powers to carry out community redevelopment. Severability 28 Page 2182 of 2284 0 The North Beach Community Redevelopment Agency Plan Should any provision, section, subsection, sentence, clause or phrase of this CRA Redevelopment Plan be declared by the courts to be invalid or unconstitutional such declaration shall not affect the validity of the remaining portion or portions of this plan. 2.2. Time Requirements to Complete Redevelopment Projects The time certain for completion of redevelopment projects included in the North Beach Community Redevelopment Plan is 30 years from adoption. The time certain for the completion of redevelopment projects pursuant to the adopted North Beach Community Redevelopment Plan is anticipated for , 2051. 2.3. Conformity with the City of Miami Beach's Comprehensive Plan An analysis of the North Beach Community Redevelopment Plan's conformity with the City of Miami Beach Comprehensive Plan (2019) was conducted by City staff and the Local Planning Agency, the City of Miami Beach Planning Board, which concluded that the North Beach Community Redevelopment Plan is in substantial conformance with the City's Comprehensive Plan. 2.4. Safeguards for Redevelopment Carried out Pursuant to the Plan The CRA shall be subject to the Florida Sunshine Law and will meet as necessary to carry out the business of the Agency. The CRA Board has publicly adopted by-laws to govern its activities and to ratify its administrative policies. These are the administrative documents by which the CRA operates. The CRA shall provide adequate safeguards to ensure that all leases, deeds, contracts, agreements,and declarations of restrictions relative to any real property conveyed shall contain restrictions, covenants running with the land and its uses, or other such provisions necessary to carry out the Goals and Implementation Strategies of this North Beach Community Redevelopment Plan. The CRA shall maintain adequate records to provide for a financial audit each fiscal year by an independent certified public accountant or firm. Each financial audit conducted pursuant to the statute must be conducted in accordance with rules for audits of local governments adopted by the Auditor General. The audit report must: 1. Describe the amount and source of deposits into, and the amount and purpose of withdrawals from, the trust fund during such fiscal year and the amount of principal and interest paid during such year on any indebtedness to 29 Page 2183 of 2284 The North Beach Community Redevelopment Agency Plan which increment revenues are pledged and the remaining amount of such indebtedness. 2. Include financial statements identifying the assets, liabilities, income, and operating expenses of the CRA as of the end of such fiscal year. 3. Include a finding by the auditor as to whether the community redevelopment agency is in compliance with subsections(6)and(7)of s. 163.387 Redevelopment trust fund. The audit report for the CRA must accompany the annual financial report submitted by the county or municipality that created the agency to the Department of Financial Services as provided in s. 218.32, regardless of whether the agency reports separately under that section and the agency shall provide a copy of the audit report to each taxing authority. On March 31 of each year,the NBCRA shall file an annual report with the County and City and publish the report on the agency's website. The report must include the following information: (a) The most recent complete audit report of the redevelopment trust fund as required in s. 163.387(8). If the audit report for the previous year is not available by March 31, a community redevelopment agency shall publish the audit report on its website within 45 days after completion. (b) The performance data for each plan authorized, administered, or overseen by the community redevelopment agency as of December 31 of the reporting year, including the: 1. Total number of projects started and completed and the estimated cost for each project. 2. Total expenditures from the redevelopment trust fund. 3. Original assessed real property values within the community redevelopment agency's area of authority as of the day the agency was created. 4. Total assessed real property values of property within the boundaries of the community redevelopment agency as of January 1 of the reporting year. 5. Total amount expended for affordable housing for low-income and middle-income residents. 30 Page 2184 of 2284 The North Beach Community Redevelopment Agency Plan (c) A summary indicating to what extent, if any, the CRA has achieved the goals set out in its Redevelopment Plan. The CRA shall file all reports necessary each year to comply with the"Special Districts" requirements of the state of Florida. 2.5. Policy Guidelines for CRA Activities The CRA shall be empowered to take all actions necessary to ensure the successful achievement of the North Beach Community Redevelopment Plan goals. Specific activities recommended to achieve the goals are highlighted in Implementation Strategies. More general direction is provided by the Concept Plan and the Guiding Principles. The following policy guidelines are provided to assist the CRA and its staff in the implementation of redevelopment programs and activities. 1) The CRA shall work together with the City and all of its departments towards the shared goals of improving the quality of life for all citizens, businesses, and property owners in the Redevelopment Area. 2) The CRA shall work with the private sector,financial institutions, and interested investors to the fullest extent it deems reasonable to facilitate the maximum investment of private funds in the Redevelopment Area. 3) The CRA shall work and communicate with all interested community groups towards the successful realization of all redevelopment goals and the successful implementation of all redevelopment programs. 4) The North Beach Community Redevelopment Plan shall serve as the primary policy guide and provide the primary tools for the City's redevelopment efforts within the North Beach Community Redevelopment Area. 5)The CRA shall pursue compliance with the goals, objectives, and guidelines that are established by the City's development review boards for all development and redevelopment activities it supports or initiates. 6)The CRA shall work towards leveraging the maximum amount of financing resources possible to assist in the redevelopment. 7) The CRA shall actively pursue the purchase and/or redevelopment of vacant or abandoned properties in the redevelopment area as a priority. 31 Page 2185 of 2284 The North Beach Community Redevelopment Agency Plan 8) The CRA shall identify and actively pursue successful projects in its earliest stages to increase public awareness and support for its longer-range challenges and programs. 9) The CRA will actively partner with both public and private sector entities towards the achievement of its redevelopment goals and to gain the maximum leveraging of assets and cooperation. 10) The CRA, in cooperation with local residents, businesses, property owners, and development interests, shall seek to identify and rehabilitate significant historical and cultural elements of the community if viable. 11) Where appropriate, the CRA shall encourage and facilitate an integrated system of pedestrian circulation, parks, and open space in the Redevelopment Area with special emphasis on providing residents with easy and safe access to commercial locales. 12) The CRA shall support and participate in the provision of an efficient parking system throughout the Redevelopment Area. 13) The CRA shall encourage that potable water,wastewater treatment, and stormwater drainage systems accommodate present and future demands in a timely, cost-efficient,and equitable manner while protecting the health, safety, and welfare of the system users and the environment. 14) The CRA shall support in environmental clean-up activities where environmental problems are an obstacle to successful redevelopment. 15) The CRA shall provide for priority to be given to residents of the redevelopment area, and secondly to those of City of Miami Beach, to purchase or lease homes or dwelling units developed under the North Beach Community Redevelopment Plan to the extent the law allows. 16) The CRA shall consider providing a priority to local business entities for their participation in all redevelopment programs to the extent it deems legal and in the public interest. 17) The CRA,with the assistance of neighborhood-based organizations,housing finance agencies, financial institutions, government, development interests, and real estate representatives, shall preserve and enhance existing residential areas to provide a variety of housing opportunities for all income levels. 18) The CRA shall undertake annual continuous improvement programs and other activities that are designed to prevent the recurrence and spread of negative conditions. 32 Page 2186 of 2284 0 The North Beach Community Redevelopment Agency Plan 19) The CRA, in cooperation with the Miami Beach Police Department, Miami Beach Fire Department, and Code Enforcement Department, shall work to create a safe, quality environment for residents and businesses. 20) The CRA shall work with citizen groups, the School Board of Miami-Dade County, and vocational and higher education institutions to identify opportunities for additional or improved educational facilities, structures, and sites within the Redevelopment Area. 21)The CRA shall assist the City and other governmental entities to promote alternative modes of transportation and to maximize transit facilities and related economic and community uses. 22) The CRA shall implement programs that assist in removing the financial obstacles that may occur and prevent otherwise successful redevelopment projects and activities. 23) The CRA will work in concert with the goals of the City of Miami Beach Comprehensive Plan, in addition to those established by Florida Statutes as they relate to the North Beach Community Redevelopment Plan. 33 Page 2187 of 2284 eThe North Beach Community Redevelopment Agency Plan 3. Existing Conditions The Existing Conditions section provides a starting point for measuring future success. It identifies the conditions and/or assets the CRA should preserve and protect while also identifying conditions to mitigate and/or improve. It shows changes in demographics, households, and income distributions within the Redevelopment Area - information that supports later CRA strategies and tactics. The graphs and data used in this section apply to only the North Beach CRA Redevelopment Area, and all data contained within the section comes from ESRI,which aggregates date from various government sources, such as the Census Bureau, Bureau of Economic Analysis and Bureau of Labor Statistics into comprehensive reports for specified geographies. 34 Page 2188 of 2284 • The North Beach Community Redevelopment Agency Plan 3.1. Population and Households The North Beach CRA Redevelopment Area is home to approximately 7,100 individuals, 3,700 households and approximately 4,750 Figure 4:Population,Households&Housing Units(ESRI 2020) housing units as of the end of 2020 (See Figure 4). .Population — •Households Housing Units 9 7,300 4,900 a Looking back over the past $ 7,200 4,700 decade, population actually 7100 4,500 N peaked in 2018 at nearly 7,200 7,000 4,300 persons, 3,800 households and 6,900 4,100 just over 4,700 housing units. 6,800 3,900 That said, the population in _— _ 3,700 2020 is higher than at the start — - 6,600 3,500 of the decade and does show 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 growth (albeit in a wave-like fashion, with growth and Figure 5-•Total change 2010-2020 by Category(ESR1 2020) decline periodically alternating). In fact, the 2010- 250 224 2011 period showed minor decline, followed by roughly 200 three years of very slow 150 14s population growth(2012-2015) before a distinct growth period100 90 _-_ began from 2016-2018. As shown in Figure 5, isolating so just the absolute growth o between 2010 and 2020 shows Population Households Housing Units that the district has grown by only 224 individuals and 90 households over this period. Housing units increased by 146 (net). Although the CRA district is geographically small (roughly a half square mile), its population growth remains lower than would be expected in a similarly sized area of a major American city. 35 Page 2189 of 2284 The North Beach Community Redevelopment Agency Plan 3.2. Age Characteristics of the Population Figure 6 shows the age profile and structure of the population within the CRA's boundaries. The projected population in 2025 skews older(above age 25),with the largest individual age segments being the 25-34 year-old and 35-44 year-old groups. Only 21%of the population is under age 25, whereas 30%of the population are in the two largest age groups. Half of the population is aged 45 or older. Looking at Figure 6:The Age Structure of the Population and Recent Changes(ESRI 2020) the change In the age ■2025 •Change 2010-25 1.200 structure of a 1,000 population $ 600 can often be 600 more 400 275 insightful than looking ,g11 ,o II:311o I 37 ssk, 41 at only the 200 •,66 -170 aggregate -400 change in a 0-4 5-9 10-14 15-19 20-24 25-34 35-44 45.54 55.64 65-74 75-64 65r population Age Brackets in isolation because the age bands that are growing or shrinking provide clues about the area's attractiveness for families, singles,youth and elderly residents. No set of population changes by themselves is good or bad,but generally areas without growth in the younger age cohorts (under 45 years old) are more likely to reflect less attractive economic and social conditions than areas where there is strong growth among the those same age groups. 36 Page 2190 of 2284 The North Beach Community Redevelopment Agency Plan The changes over the 2010-2025 projections (which simply continue the 2020 actual trends out a further five years) show Figure 7:The Ratio of Males to Females(>1=more females) that the vast majority of the (ESRI 2020) population growth within the district has occurred in the 55+age group, 85+ 1.55 with a slightly smaller sized group of 85.89 1.6; residents leaving in the 25-54 year-old 70-74 1.16 65-69 1.43 age brackets. The age groups under 25 60-64 1.05 years old show very limited growth 55-59 1.02 m 50-54 0.8 over the 15-year analysis period. ' 45-49 0.79 - 40-44 0.25 CO The changes shown here indicate that m 35-39 0 {8 the area is not growing or retaining 30 34 C1190 25-29 1.93 young families, but it is growing and 20-24 0.96 retaining its late middle age to elderly 15-19 .92 10-14 1.01 population. 5-9 0.98 0-4 1.00 Among age groups 14 and younger, Total 1.01 there is a fairly even male to female - 0.50 1.00 1.50 ratio (Figure 7). Males then Mala Famala Ratin outnumber females within the CRA's boundaries from age 15 until age 54, then females become a majority for all ages above 55,with the female to male ratio becoming increasingly imbalanced as age increases. For example,by the age of 80+, there are more than 50%more females than males). 3.3. Race and Ethnicity Figure 8:Population:Hispanic/Non-Hispanic Origin(ESRI 2020) The CRA district is .Hispanic Origin Non-Hispanic origin overwhelmingly Hispanic in 100% origin (Figure 8) and this share 90"h21111% AVM has increased from 72%in 2010 80% 70% to 79%in 2020 and a projected , 0 82%in 2025. While other groups 50% are present and are life-long 40% 72 7% 792% 81 9% 30% residents, much of the recent 20% change shows a higher percentage 10% Hispanic ethnic origin 0% of 2010 2020 2025 individuals in the area. 37 Page 2191 of 2284 The North Beach Community Redevelopment Agency Plan Hispanic ethnic origin or heritage does not specify any particular race. Looking at the racial identification of residents Figure 9:Population:Self-Identified Race(ESRI 2020) within the district (Figure 9) shows that 85%of residents identify as white alone, 5.3% Two or More Races '2.9% identify as some other race, 4.8% Some Other Race Alone .5.3% identify as black alone, 2.9% Pacific Islander Alone 0.0% identify as mixed race and the Asian Alone 11.1% remainder are Asian alone or American Indian Mone 10.5% • American Indian alone. There is little expected change in this Black Alone 4.8% racial distribution over the 2025 White Mone 85 5% projections. 0% 10% 20% 30% 40% 50% 60% 70% BO% 90% 38 Page 2192 of 2284 0 The North Beach Community Redevelopment Agency Plan 3.4. Income, Employment & Education 3.4.1. Income Household incomes in the CRA district are skewed to the lower end of the income band. In 2020, Figure 10:Resident Income by Bracket(ESRI 2020) median household income was 0 2020 .2025 L $35,500 and in y 25% 2025 it is projected = 20% %' ' 0 15% t7% 17% to be $38,000. Note t 10% 13% . 101 Mir that for Miami- 5% 69411 1% 1% 3%r1 Dade County Area °% c 31 cn Median Income tg (AMI) for 2020 is v . o g g . I $ u $59,100. ul w As shown in Figure Income Brackets 10, nearly 39%of all households in 2020 earn under$25,000 per year,but a slight improvement is anticipated by 2025,with 36%of households earning below that amount. In 2020, the largest number of households within a single income band are those that earn between$15,000 and $24,999 annually. Roughly 10%of households in both 2020 and 2025 (estimated) earn $100,000 or more each year. While the income data in Figure 10 shows a fairly common household income curve above $25,000 per year, the cluster of households under the $25,000 per year level indicates that the area includes a substantial percentage of households that would typically be considered to be economically distressed. 39 Page 2193 of 2284 The North Beach Community Redevelopment Agency Plan 3.4.2. Educational Attainment Educational attainment in the district is higher than incomes would suggest. Figure 11 shows that just over 55%of the population have had some college education, and nearly a third have a bachelor's or graduate/professional degree. On the other side of the Figure 11:Resident Educational Attainment(ESRI 2020) educational attainment scale, 30%of district Graduate/Professional Degree 13.2% residents have completed Bachelor's Degree 191% up to a high school diploma, 2.4%had a GED Associate Degree 11.4% or equivalent, and a Some College, No Degree 11.7% further 12%have some or GED/Alternative Credential .—2.4% no high school education. High School Graduate 30.1% Of the total population, 9th- 12th Grade, No Diploma . c' then, roughly 45%have a high school diploma or Less than 9th Grade s.o° less and 55%have some 0% 5% 10%15%20%25%30%35% college or more. 3.4.3. Unemployment&Employment At this time, the area's unemployment rate is higher than the national average - at 7.6%compared to 6.7%nationally. The disaggregated unemployment rates by age shown in Figure 12 provide Figure 12:Unemployment by Age Bracket(ESRI 2020) more insights: young people under the age of 24 are 20 Civilian Population 1e+In tabor Force Civilian Population 16+ 4,313 unemployed at twice the Population 16+Employed 92.4% area's average: 15.6%. This Population 16+Unemployment rate 7.6% group, while not numerically Population 16-24 Employed 8.3% large, skews the overall 16-24 Unemployment rate 15.6% Population 25-54 Employed 67.6% number and indicates that 25-54 Unemployment rate 6.8% the district is either not Population 55-64 Employed 15.6% preparing its young people 55-64 Unemployment rate 6.7% Population 65+Employed 8.4% for employment or not 65+Unemployment rate 7.2% creating sufficient jobs to absorb its youngest job market participants. 40 Page 2194 of 2284 The North Beach Community Redevelopment Agency Plan Figure 13 shows occupations of Figure 13:Employment by Major Industry Sector(ESRI employment within the district with 2020) 48%of all employees in the "white- White Collar 48.0% collar"occupations, 33%in"services" Management/Business/Financial 11.9% and 19% "blue-collar." Professional 16.2% Sales 10.0% The area's white-collar employment Administrative Support 10.1% is largely in the professional and Services 32.9% Blue Collar 19.1% management occupations (16%and Farming/Forestry/Fishing 0.0% 12%, respectively), while sales and Construction/Extraction 5.6% Installation/Maintenance/Repair 1.6% administrative support provide the Production 4.3% balance of the white-collar Tr,,nennriohinn/KA-, ,, l kAnuinn 7 aoi occupations. Retail trade is the largest component of the services industry nationally.While not disaggregated here, it is safe to assume that the majority of employment within the services industry in Figure 13 is also retail employment. Blue-collar employment is primarily in the transportation occupations (7.6%), followed by construction (5.6%),then maintenance and repair occupations. 3.5. Housing Characteristics The North Beach CRA Redevelopment Area household distribution (Figure 14) shows the pattern of habitation among family and non-family households. Among non Figure 14:Households by Type&Size(ESRI 2020) family households, 1,800 Family ■Non-Family the vast 1,600 majority(79%) 1,400 are one-person 1,200 N households. -p 21%of non- 0 1,000 ,,o,s family o 800 households = 600 include two 400 persons. There I 353 were no three 200 235 0 0 0 7e 0 0 0 1 0 or more-person 0 1-Person 2-Person 3-Person 4-Person 5-Person 6-Person 7+ non-family - 41 Page 2195 of 2284 The North Beach Community Redevelopment Agency Plan households in the 2014-18 dataset ESRI has taken from the Census Bureau's American Communities Survey (ACS). Among families, the household sizes ranged between two-person households (60%of the total), three-person households (21%), four-person households (14%) and five- person households (5%). Because of the relatively older population average of the district, it is a safe assumption that some high Figure 15:Housing Units by Tenure(ESR1 2020) portion of the family 5,000 4,754 4,817 5,000 households include 4,627 4,500 extended family members. 4,000 931 1,017 1,051 4,500 3,500 ` = 4,000 Figure 15 shows that 3,000 ;._ ..: rental units in 2020 are 2,500 3,500 the dominant form of 2,000 1,500 2 867 3,024 3,037 3,000 housing units in the 1,000 district(63%of all 500 2,500 occupied units), with 0 2,000 2010 2020 2025 owner occupied units being 15%of the total ■Renter Owner Vacant housing stock. The data shows that 21%of the housing units in the Redevelopment Area are vacant. This number may be accurate,but it may also be a reflection of data reporting inconsistencies. Such a high number of vacant units is rarely seen in a market with even moderately attractive structural features. Figure 16 reflects the distribution of values Figure 16:Owner-Occupied Housing Units by Value(ESRI 2020) among owner-occupied 20% housing units showing a > 16% slightly leftward skewed E 14% 0112% bell-shaped curve, with the TA 10% 8% a largest single value 2 B% grouping of units (18%) 62% 2% dIibh o% ,. being valued between o 0% o �, 2 �, �, g a a, a) rn m a) a) rn C 8m o� 0 $300,000-399,000. 3 6 m 0) ' 0) C) 0) m o $ o While the valuations above C 0 p C C 8 C and below this level are U) o g 0 g g g 0 similar in shape, there are `" "' `" '" `" `" "' 42 Page 2196 of 2284 The North Beach Community Redevelopment Agency Plan few units valued at under$100,000 (10%of all owner-occupied units) and even fewer valued over$1 million (roughly 6%). That said, there are a large number of owner-occupied housing units valued over $500,000: nearly 25%of the total owner-occupied housing stock is valued at this level or higher. The owner-rental ratio by age Figure 1Z Owner-Rental Ratio by Age Brackets(ESRI 2020) group can be assessed using U.S. Census data from 2010 (provided 1.00 0.88 0.90 by ESRI), which is less recent but 0.80 likely to remain directionally 0 70 0.69 true. This ratio compares the 0.60 number of owners with the 0.50 0.47 • 41 number of renters within a given 0.40 0.35 age bracket.A value of 1.0 would 0.30 0'29 0.23 024 _ mean that there are an equal 020 0.07 0.12 0.10 _- • � �.�� number of owners as renters, The North Beach Community Redevelopment Agency Plan stress as paying more than one-third of income towards rent, this high proportion of households paying such a high percentage of their income would clearly qualify as income-stressed or cost-burdened. Roughly one-third of the households in the CRA district pay rents that are under the 30%of income level and would not be considered income stressed, but 61%of all renter households within the CRA's boundaries pay at least 30%of their income for rent. Measures to improve rental housing affordability, likely in combination with economic development efforts that aim to increase income levels, could produce positive impacts on the district's residents. 44 Page 2198 of 2284 The North Beach Community Redevelopment Agency Plan 4. Real Estate Analysis The Real Estate Analysis section is key to understanding market forces for the area's inventory, availability, classification, and rates. It also provides a review of real estate trends that will likely impact the baseline demand and future outlook for various real estate uses within the CRA district. Implementation strategies related to the Real Estate Analysis section would involve the CRA's authority to acquire, dispose of, and/or redevelop properties in pursuit of Redevelopment Plan Goals. 4.1. Miami Beach Real Estate Market Overview and Trends Every real estate market across the country was impacted by the COVID-19 pandemic. Related government emergency orders issued across every state all but shut down real estate markets, and Miami-Dade County was no exception. Employment trends among regional and local economies are generally correlated to long-term real estate trends. According to data from Track the Recovery' (https://www.tracktherecovery.org), as of October 22, 2020,Miami-Dade County employment rates among workers in the bottom wage quartile decreased by 12.2% compared to January 2020(not seasonally adjusted). Figure 19:Economic impacts from COVID(TracktheRecovery.com 2020) -. Oct 22.2020 Oct 22.2020 +2.8% +3.9% TATO. -. trick Wage ('SWK) , - _ - _. -5 8% - -- lackSO4WiW. -12.2% LOW Wage (.$2Tk) Apr is Jan 20 Apr 15 1 Opportunity Insights Research and Track the Recovery are projects based at Harvard University,where a team of researchers and policy analysts work together to analyze new data and create a platform for local stakeholders to make more informed decisions. 45 Page 2199 of 2284 eThe North Beach Community Redevelopment Agency Plan Development and leasing activity is returning to the Miami-Dade County real estate market after suffering from various government mandated shutdowns and other restrictions. Miami's overall employment rates decreased by -2.7%compared to January 2020 (not seasonally adjusted) after a strong rebound in the third quarter of 2020. According to analysis by the U.S. Bureau of Labor Statistics, Miami-Miami Beach-Kendall had an unemployment rate of 7.9%in December 2020, down from 15.2%in July 2020. Despite the steep economic downturn following the COVID-19 pandemic, the Miami real estate market including North Beach and the Redevelopment Area has been stable during a time of relative uncertainty. In discussion with brokers from Cushman &Wakefield and real estate research reports from Colliers, a number of factors are impacting the real estate market currently: job losses in leisure and hospitality, trade, transport and utilities, education and even health care. However, some positive trends can be seen with employment sectors to gain jobs year-over-year(YoY) in manufacturing, adding 2,600 new positions and in Construction and Financial Activities with 1,300 and 200 new jobs respectively (Cushman&Wakefield Miami- Dade Office Q4 2020 market report). The Greater Miami economy has experienced a significant slowdown in new lease deals. In particular, the office market has been deeply impacted: new lease deals totaled approximately 1.4 million square feet in 2020, a 47.3%decline from year prior and the lowest amount since 2003.Approximately 34%of the total leasing volume occurred in the first quarter of 2020 before the pandemic mandated shutdowns. Within the 12 major sub-markets in the Miami-Dade area, most new office activity remains centered in the Brickell Avenue, Coral Gables and Airport West sub-markets where amenities such as mass or rapid transit, contemporary retail, fitness and athleisure outlets are more accessible. On the retail front, the Miami Beach sub- market has also been impacted. North Beach reports some 79 vacant stores. 46 Page 2200 of 2284 CDThe North Beach Community Redevelopment Agency Plan 4.2. CRA District Real Estate Trends and Drivers Based on a Cushman&Wakefield assessment of the CRA district boundaries shown in Figure 20 the current real estate mix seen in the designated area was analyzed for key insights about the CRA district's real estate market. Figure 20:CRA Market Data(Cushman& Wakefield 2021) Biscaya island • Stell,]ter Park h BISCAYNE POINT' - a` I al,t71 „F.r Nate A V ' Z rted. Biscayne Point 9. C..lorta Al .s • b ,,p, itt,,40,406, Ap, TA k..1...rydli1% 'A_'.4„1 1.14 4'o 1 *Pt, 4 Park View NORMANDY Isla f � ` SHORES +"01 . vee lb *;,w.-� 4'10` • 444 ' " ' •4 NoPr } l tiit Normandy isle ' park&Pnnf t E;` '" mob, SI La Gorce ; i Island c I.- Allison Park 47 Page 2201 of 2284 • The North Beach Community Redevelopment Agency Plan 4.2.1. Overview A January 2021 CoStar-generated real estate profile for the District provided the following real estate composition: Figure 21:CRA District Building Counts(Cushman& There are an estimated 309 Wakefield 2021) properties with a total rentable Categories Total Number building area (RBA) of 3.9 million 1 Total MF apartment units 3,078 2 MF Buildings 191 square feet currently. Note that the 3 office 15 number of individual properties does a Retail 98 5 Retail Strip Center 5 not necessarily correspond to taxable MF=Multi-family entities. Most of the RBA(nearly 60%) listed in the District is Class C real estate. Generally, Class C is the lowest classification available for real estate. Typically, Class C real estate describes building stock that is more than 20 years old, located in areas that are removed from the central business district, and residents fall within lower area median incomes. Such buildings often lack building components and amenities associated with Class A or B real estate, such as central climate control,elevators, and parking options. Note that these classifications can be subjective and vary widely among markets. Figure 22:Rentable building area by class(Cushman& Wakefield 2021) A B C (blank) Grand Tote) Multi-Fa1ily 292,000 1,003,496 1,733,102 8,612 3,037,210 Office 92,750 92,199 184,949 Retail and Strip Centers 48,725 225,380 438,902 11,601 724,808 Grand Total 340,725 1,321,626 2,264,203 20.213 3,946,767 The North Beach CRA Finding of Necessity conducted in 2019 (pre-pandemic) reported residential vacancy rates at 23%within the proposed boundary compared with a countywide residential vacancy rate of 11.4%. In 2019, CoStar identified nine (9) vacant properties in the area measuring some 36,382 square feet. This vacancy rate is higher than the citywide vacancy rate of 6.2%, and the countywide rate of 3.9%. The office stock as of 2020 remains small at some 185,000 square feet or 5%of the total rentable area. The Miami Beach submarket including the CRA area saw no significant new office construction during 2020. 48 Page 2202 of 2284 0 The North Beach Community Redevelopment Agency Plan There is only one major affordable housing complex in the CRA.District funded by the City of Miami Beach---the Lottie Apartments located at 530 75th street, comprised of 9 rental units and where affordability is preserved through 2050 (see Figure 23). 49 Page 2203 of 2284 W,4)) The North Beach Community Redevelopment Agency Plan r� Figure 23:Affordable housing developments within Miami Beach Affordable Housing - City Boundary .... . CRA Boundary • Affordable Housing Units essmermateff4 iiii , NE 79th ST 4111‘ if C_ ! ri .. It Vet: I 19 ��� , { se i •p:4 , egA7}:€"t1, ill -:i-, Ay" t 0 -, x# '-_ x • N 1 Bili --.." " 50 Page 2204 of 2284 The North Beach Community Redevelopment Agency Plan 4.2.2. Residential Today, the district has more than 180 residential buildings that include more than 3,000 apartments (Figure 24). The class distribution is skewed heavily towards Class C properties with some 74%in this category. As the largest component Figure 24:NBCRA Residential Summary(Cushman&Wakefield of the CRA district's real 2021) estate stock, residential Mufti-Family Units by Building Class properties (and future Units % of Total development) are critical Class A 242 7.9% Class B 555 18.1% components to the area's Class C 2270 74.0% tax base. Total 3067 100.0% As the majority of the residential housing stock is considered to be at the Class C level,there are likely a number of initiatives that could improve the quality and taxable value of the existing housing stock,whether through improved maintenance or renovations. Although there are a number of sizable mixed-use residential developments working their way through the permitting and development process, the overall residential development pipeline remains less active than would be expected for Miami Beach. Beneficially, however, most of the anticipated projects fall within or near the 715t Street area, which will help to enhance that area as a center of gravity for new development. 51 Page 2205 of 2284 The North Beach Community Redevelopment Agency Plan 4.2.3. Retail and Office Countywide The office market is driven by business demand for employee and customer service functions. It tends to house corporate and administrative staff whose co-location facilitates meetings and productivity(though this is changing post-COVID). Recent changes in the overall office market in Miami-Dade County are shown in Figure 25. Figure 25:Changes in the Miami-Dade County office market(Cushman& Wakefield 2021) SPACE DEMAND 1 DELIVERIES OVERALL VACANCY&ASKING RENT 600 - $45 20% '., :: fflffljjffffflfflft : 200 100 SO • 5 2016 2D17 2016 2019 YTD 2020 2016 2017 2018 2019 2020 •Net Absorption.SF ■Consttudan Completions,SF ri Asking Rent $PSF Vacancy Rale Looking first at new construction and market absorption, a key takeaway is that, through Q3 2020, there was a net loss of nearly 400,000 SF in the Miami-Dade County office market as tenants either let leases expire or actively exited the office market. Office vacancies are particularly troubling because office tenants often maintain their own ecosystems of retail operations around large corporate tenants. When the office tenants leave, the retailers may not be able to survive if the office space remains vacant for more than a few months. Additionally, office landlords will lower asking-rents or offer incentives to new tenants to fill vacant spaces, which tends to dampen the overall rental growth market, as existing tenants are often unwilling to accept strong rental growth rates when new tenants are getting much better economic terms. 52 Page 2206 of 2284 • The North Beach Community Redevelopment Agency Plan While the current Miami-Dade County office market is estimated to be 15%vacant with rents stable in the mid-$30s per square foot range, the impacts of COVID are far from over and many corporate tenants are actively looking to maintain a large portion of their workforce as remote staff, at least on a flexible basis. These forces will work against largescale office development in the CRA district until or unless a large corporate anchor establishes a presence in the area (or commits to a sufficiently long-term lease to allow for new development to be financed). CRA District Real estate investment in the Miami metro area has remained firm throughout 2020- 2021 amid the COVID-19 economic crisis, with entrepreneurs, investors, and developers setting their sights on Miami's office,retail and even residential markets. Many of these "new-to-market" firms that have made Miami their home are in the technology or financial services industries, retail conglomerates, and other corporate tenants with needs that are generally Class A buildings with larger floorplates. North Beach and the CRA district have not been attractive to such tenants for a variety of reasons. The existing office market is very small,with 15 buildings, characterized mostly as Class C and a few Class B buildings. This amount is insufficient to create the critical mass necessary to attract mainstream tenants or entrepreneurs seeking a "cluster effect". Additionally, Class B and C properties generally lack the type of amenities that the technology or tech-related workforce Figure 26::NBCRA Office and Retail Rent Summary(Cushman& Wakefield 2021) Rent From $ - $20.01 $30.02 $40.03 $50.04 $60.05 $70.06 Rent To $ 20.00 $30.01 $40.02 $50.03 $60.04 $70.05 $80.06 Office 0 3 7 5 0 0 0 Retail&Strip Centers 2 11 54 26 5 4 1 Totals 2 14 61 31 5 4 1 have come to expect. Brokers convey that overall asking rents within the CRA's boundaries remain steady for existing properties across the real estate mix—most landlords have postponed improvements and price escalations for now. Class B properties are at the higher end of the pricing range with peak rates in the category still more competitive than South Beach or other districts on the mainland. 53 Page 2207 of 2284 CDThe North Beach Community Redevelopment Agency Plan Retail offerings in the Redevelopment Area remain varied. Recently, retail closings (from both COVID-19 related impacts and structural changes impacting the retail market in general) are forcing cities and retailers to think creatively about how best to reimagine the retail experience and retail shopping districts. People still crave social interaction and the tactile aspects of retail therapy remain as attractive as ever, but maintaining competitive cost structures with enhanced safety measures does create a challenge for retailers. The projects mentioned previously (in the residential discussion) may help to kickstart a wider retail genesis in the area as both landlords and retailers become more innovative in their retail experience offerings. 4.2.4. Hospitality Compared with the remainder of Miami Beach,the North Beach CRA Area's hotel offerings are limited and generally not in competition with the hotels in Mid Beach and South Beach. For the most part,vacationers looking for the Miami Beach experience look to the Architectural District in South Beach, with North Beach attracting a different clientele that desires its low scale and laid-back neighborhood character or friends and relatives visiting residents who live in North Beach. Similar to the office and retail markets, the hospitality industry remains under pressure as much of the Figure 27.:National ADR and RevPAR Trends(Horwath 2020) pre-pandemic levels of travel and tourism have 513500 yet to return and, 511003- ""°"" nationally, hotel average 510500 daily rates (ADRs) and 59000 g vacancy rates remain at 57.00 levels below their 560.00 historical trends (Figure 54500 27). 53000 2011 2012 2013 2014 2015 2016 1017 2019 2019 CAMP 2021P That said, North Beach does have fantastic beaches that are far less crowded than those in South Beach. It's ability to provide a unique hospitality experience for residents and visitors should not be discounted. Examples of hotels within the North Beach Redevelopment Area are: ■ Baltic Hotel: 12 guestrooms;ADR$80+ 54 Page 2208 of 2284 The North Beach Community Redevelopment Agency Plan • Carillon Wellness Resort: 110 guestrooms; ADR$500+ • The Broadmoor Hotel: 87 guestrooms;ADR$110+ • The Deauville Beach Resort: shuttered following an electrical fire in July 2017, the oceanfront property is a historical gem with viable development potential. Its future remains undetermined. Economically, the hospitality industry employs large numbers of Miami-Dade County workers (though often at moderate wages), but supports a broader tourism ecosystem that impacts nearly every other business industry in the area. 4.2.5. Industrial There are no industrial properties within the Redevelopment Area at this time. Land prices in the North Beach submarket are relatively high compared with property typically suitable for industrial development. Rather, North Beach real estate appeals to residential and retail developers given the neighborhood's access to beaches and recreation. In addition, the North Beach submarket is less suited for industrial development given the relative distance from interstate access and nearby competition from existing industrial property clusters near Miami International Airport and Doral. 55 Page 2209 of 2284 vV The North Beach Community Redevelopment Agency Plan 5. Neighborhood Analysis The statutory requirement that a Redevelopment Plan include a Neighborhood Impact Analysis underscores the reality that redevelopment impacts the surrounding neighborhood. In order to assess potential and unanticipated impacts, it is necessary to understand the character and dynamics of the underlying neighborhood. The Plan's Neighborhood Analysis section will address four neighborhoods within North Beach, all of which contain portions located within the North Beach Redevelopment Area. Each neighborhood has its own character and contributes to the uniqueness and vibrancy of North Beach. Based on these attributes, each neighborhood will have its own set of Redevelopment Implementation Strategies as discussed further in section 8.4. 5.1. Town Center The center of community life in North Beach is found along 71's Street and includes the surrounding areas from 69th Street north to 73rd Street and extending from Normandy Isle to the ocean. The primary east-west thoroughfare, 71"Street, is considered the "main street" of Town Center. It serves as one of Miami Beach's limited connections to the mainland and the only such connection located in North Beach. Composed mostly of commercial and civic spaces, the Town Center is intended to be the center of activity for North Beach. The entirety of the Town Center area lies within the NBCRA boundary. In the 2016 Plan NoBe, the following vision was contemplated for an active Town Center: a balanced mix of transportation options, including efficient buses, a connected bike network,walkable streets, and a connected street network for all modes of travel, including cars. Revitalized and new efficient buildings will help to build enough critical mass of mixed-income residents and businesses to support new dining and shopping along 71st Street. In addition, more public uses and commercial amenities can be brought into the district so the Town Center becomes a destination instead of a place people pass through to get somewhere else. During the public engagement process of the CRA Redevelopment Plan, the design ideas from Plan NoBe were still largely supported by the public as initiatives to be funded by the CRA. Following Plan NoBe, the critical element necessary to plan for creation of a Town Center was seeking legislative approval of a floor area ratio (FAR) increase, which was 56 Page 2210 of 2284 The North Beach Community Redevelopment Agency Plan approved by the electorate in a November 2017 referendum. In addition to enacting a FAR increase to 3.5 in Town Center, the City Commission enacted a series of amendments to the City's Land Development Regulations with the goal of enabling development of larger buildings in Town Center with 715 Street serving as a main street. See the current zoning map with the CRA district boundaries shown in Figure 34. Figure 28:Area-wide zoning map with CRA boundary in red 57 Page 2211 of 2284 The North Beach Community Redevelopment Agency Plan Zoning Map i= • • - - y,__ j ■ 00. 01,1 ao !" y'' )* �• ` i iiii ma (:;:i—j 4V (____ - i„,:,1 _ , City Boundary Ilk ) I CRA Boundary / rZfil oS RM-3 PSOa."' r CD-1 ROE TC-3 i TH GC Gu — A Road elevation,stormwater,water and sewer and other infrastructure improvements may need to be undertaken in order to stimulate investment from developers, not only in Town Center,but also in the remainder of North Beach. 58 Page 2212 of 2284 • The North Beach Community Redevelopment Agency Plan Traffic remains an impediment to the Area's walkability and attracting a greater number of visitors on foot. The reduction of parking requirements for private development is reliant upon enhanced multi-modal access to the area. Although adoption of a Town Center zoning overlay included a reduction in required parking for new development, street design recommendations that would encourage other modes of access to Town Center have yet to be implemented. Rush hour and peak time congestion along 71st Street make ordinary travel around North Beach more difficult. The car-centric design of the 7151 Street roadway also contribute to an unpleasant experience for commuters on bike or on foot. These factors restrict the number of visitors the area can accommodate. If modes of mobility and access are diversified, and biking and walking are rendered safer and more enjoyable to undertake, traffic and short car trips for daily needs will be reduced. 5.2. Normandy Isles Normandy Isles is the southern half of the Island of Normandy,composed mostly of single- family homes, small apartment buildings,and low-rise commercial spaces.The eastern quarter of Normandy Isles is listed on the National Register of Historic Places and attained local historic designation following a strong recommendation in Plan NoBe. The Normandy Isles Historic District encompasses approximately 82 acres and contains 14 blocks with 237 buildings. Of the 237 buildings, 201 are considered as contributing to the historic character of the historic district. The remaining 26 non-contributing structures are either less than 50 years old or have been significantly altered such that they are no longer true to their original historic character. In addition to the Normandy Isles Local Historic District, Plan NoBe also recommended creation of a neighborhood conservation overlay. The easternmost portion of Normandy Isle is within the CRA boundary, from Rue Notre Dame on the west and the 71st Street bridge to the east; and a northern boundary of Marseille Drive to Biarritz Drive on the south,between Rue Notre Dame and Rue Versailles Drive,and even further south to that portion of Bay Drive between Rue Versailles Drive east to the water's edge. The Normandy Fountain area, also known as Rue Vendome Plaza, serves as the community and commercial center of Normandy Isle and could develop into a vibrant, pedestrian-oriented shopping district with a strategic combination of protection and enhancement.To accomplish this, the Normandy Fountain area must transition from its current automobile-centric layout in order to accommodate pedestrian movement and transit connectivity.Upon completion of this report, the Normandy Fountain and Rue Vendome Plaza underwent redevelopment to create an open and grade-level public plaza. The City improvement project included associated 59 Page 2213 of 2284 The North Beach Community Redevelopment Agency Plan traffic signalization adjustments, construction of the public plaza, landscaping, lighting and other improvements necessary to encourage public use as a gathering place for civic use. While the project helped improve an important gathering space for Normandy Isle, the plaza still lacks optimal pedestrian and bike-friendly access. For example, increasing the number of pedestrian crossings to the north across Normandy Drive would help residents and visitors navigate the Fountain area. In general, the lack of shade, narrow sidewalks, and speed of traffic along 71st Street from Indian Creek Drive to Normandy Drive is a hinderance to walkability between Normandy Isle and Town Center. West of Rue Versailles Drive along 71St Street and Normandy Drive,the accommodation for bicycle travel consists of one shared lane along one of the busiest roadways in North Beach, which creates an inhospitable environment for cyclists. While focusing on improvements to commercial and civic spaces centered around the fountain, there should also be adequate focus on multi- modal access between Town Center and Normandy Isle. 5.3. West Lots The West Lots consist of eight blocks,from 79th Street to 87th Street, which front along Collins Avenue across from the North Beach Oceanside Park. Some of these blocks serve as municipal parking lots for North Shore Open Space Park and the beach beyond. The West Lots are large enough to accommodate parking, as well as additional uses that are desired by the community. such as open space and/or redevelopment opportunities.The West Lots could provide the largest, continuous oceanfront-adjacent development opportunity in the City; however, the City Charter would likely require a redevelopment project be subject to a public referendum. The West Lots present an unparalleled opportunity to spatially shape a robust edge to the North Shore Open Space Park close to the ocean. These sites boast valuable addresses that could accommodate a broad range of potential uses providing tremendous public benefit and use. The West Lots are zoned Government Use and are separated by a narrow alleyway from the adjacent RM-1 (Residential multifamily, low intensity) zoning district to the west. These parcels are of a relatively consistent size, approximately 175 feet by 300 feet. The lots are currently a mix of undeveloped open blocks, public surface parking lots, Ocean Rescue operations, and the former site of the historic log cabin that now includes a mix of other city uses. A major component to developing the West Lots will be Collins Avenue as a major mobility corridor, also addressing how it currently acts as a barrier between North Shore Open Space Park and the West Lots. In Plan NoBe, Collins Avenue was 60 Page 2214 of 2284 0 The North Beach Community Redevelopment Agency Plan depicted as a multi-modal street and an important segment in the future multi-modal transportation network in North Beach. 5.4. North Shore The North Shore neighborhood is partially within the Redevelopment Area and is situated between the ocean and the Tatum Waterway, extending from the Town Center up to the northern City limit at 87th Terrace. North Shore is characterized by multifamily housing of relatively low height—two to four stories. In 2009, the majority of the North Shore neighborhood obtained National Register designation, a bold move to preserve the large stock of structures built in the Miami Modern vernacular; and as a result of Plan NoBe, in 2017, a portion was designated as a local historic district, which affords it the highest level of protection available. Lots and blocks within North Shore are fairly regular, with larger development lots and more density concentrated along the Harding Avenue and Collins Avenue corridors. North Shore is the home of a significant proportion of the lower-income workforce, and how it develops was a point of concern for participants of the Public Design Charrette. Many were concerned about maintenance of the current housing stock in North Beach both in terms of affordability and resilience. 61 Page 2215 of 2284 CThe North Beach Community Redevelopment Agency Plan 6. Beautification and Infrastructure Analysis The Beautification and Infrastructure Analysis section identifies existing conditions of infrastructure, how they have been addressed and improved since Plan NoBe, and what improvements are still needed for enhancement of the CRA. This section plays a pivotal role in strategies for branding, marketing, quality of life, and business attraction. 6.1. Public Realm Improvements Public realm improvements are a common theme for CRA funded projects. The streets are important interfaces between the public and private realm. A good streetscape has a positive impact on the quality of life for the residents, visitors, and business owners. Walkable environments improve the mental and physical health of the residents. Increased foot traffic potentially boosts the sales of businesses. In the era following the COVID-19 crisis, outdoor public space has become especially important, because a lot of common activities are restricted from being indoors and have moved out to the street. During participant polling conducted in the charrette kick-off public meeting presentation, the majority of participants indicated that they were interested in seeing CRA funds spent on façade improvements. As walkability and pedestrian and bike access will be addressed in subsequent sections, streetscape improvements will refer to the beautification of the public realm—the sidewalk—and how it can work to support economic development. Figure 29:Existing condition ofa streetscape As • - a • .2 Page 2216 of 2284 The North Beach Community Redevelopment Agency Plan 61.1. Signage Tactical improvements such as adding new signage, banners, and awning requires very minimal effort but significantly changes people's visual perception of a place. Signage and banners help strengthen the identity and sense of place. Well-designed signage can reflect the style and context of the community. Banners can be integrated on lighting posts to provide opportunities to publicize community events. Figure 30:Signage and perception improvements to streetscape a _ "r --Olabting and flirmar lighthiland '' _ .,x marketing: Y. for com ei[erib u ii,. - , - it tv T:w R existing - • M-c 4 Awnings /. Provide shade for t' t pedestrians '--_ rt t; 6.1.2. Furnishing There is often enough space on the streets for social and physical distancing. But the spaces are often disproportionately devoted to motor vehicles. Repurposing individual parking spaces or a curbside parking lane is one way to find more room for people space. An outdoor dining parklet can be created with modest outdoor furnishings such as planters, tables and chairs, and shade structures. In certain conditions, the entire street can be closed to vehicles for special events. 63 Page 2217 of 2284 The North Beach Community Redevelopment Agency Plan Figure 31:Short-term tactical improvements to provide outdoor dining MI tm. �i �■�-terms-- nt - 7 V Y_ ahM6 CiMaideS 9111i. • • Outdoor Dining i 'N. A. ,‘44, " aures and chairs,planters,and aw �. umbrellas to create a more pleasant "' outdoor dining space 4 6.1.3. Resiliency The rising sea level is an issue that Miami Beach must address in the long term. Some of the buildings have high ground floor ceilings which makes raising the ground floor elevation a possibility.This strategy for responding to imminent climate challenges can be applied to preserve certain buildings with high historic values. 64 Page 2218 of 2284 The North Beach Community Redevelopment Agency Plan Figure 32:Long-term improvement to address sea level rise r. 3 _ Raiams round flew laisingillpikailifloor , j G x , f X----:7.— ,',t I t 1 7--, ,„.--,_,- gill!" •-•.re _ 1 Mk — '--.., I iii,,,,,,fi i, , , .,3. ,_,, iiri .,,,, ,,,,_0_..„ . ....,,,, ....._. . ,,,,,_ ____„.____ ASidewalk clearance min e kr 6.1.4. Outdoor Dining Even before the COVID-19 pandemic,many restaurants have come to rely on outdoor dining to serve customers who enjoy the South Florida climate. With physical layout limitations, outdoor seating most often occurs on the sidewalk. Moving forward, the CRA should look for ways to ensure that streetscape improvements consider space for outdoor dining or adaptability to outdoor dining in major commercial corridors, such as 71st Street and Collins Avenue. The immediate action may be to adopt a guidebook for how businesses could adapt existing conditions to allow for outdoor dining. This may include urban design guidelines for sidewalk or parklet dining, as well as clear instruction on how to apply for permits and work with the City to get approval for sidewalk or on-street dining. 6.1.5. Street Canopy In a locality as sun-drenched as Miami Beach, shelter from constant sun is necessary and encourages people to walk. Future streetscape projects should require a minimum percentage of tree canopy within the time frame of two years after completion of the 65 Page 2219 of 2284 The North Beach Community Redevelopment Agency Plan project. Canopies and balconies on shopfronts can also provide shade and shelter from the weather (Source: Plan NoBe). The 2018 G.O. Bond Program aims to increase the tree canopy as part of the planned stormwater/water and sewer projects in the North Shore neighborhood. GO#44 intends to beautify and upgrade the North Shore neighborhood, including lighting, landscaping, and tree canopy as part of the planned stormwater/water and sewer projects. This project is planned between the years 2025-2028. Additionally, the G.O. Bond Program includes a Street Tree Master Plan to be implemented citywide by 2025. The Street Tree Master Plan project has a$5 million G.O. Bond budget to fund the planting of up to 5,000 trees across Miami Beach. The sole purpose of this project is to expand the city's overall tree canopy footprint which is critical to the city's plan to reduce its heat island index, CO2 and soil erosion(Source: G.O. Bond). In October 2020, the City adopted the Urban Forestry Master Plan as part of its Miami Beach Rising Above initiative. The Urban Forestry Master Plan identifies the following challenges to increasing the street canopy: competition with multi-modal access for ground surface area, and growth restrictions vertically, due to overhead powerlines; horizontally, due to minimal building setbacks; and depth, due to underground utilities. Increasing tree plantings in areas with maximized development potential may not be suitable due to shade conditions. Collins Avenue and 71st Street have been identified as areas where shade tolerance of trees is not ideal (Source: Miami Beach Urban Forestry Plan 2020). As strategically planned with the GO#44 project, street tree plantings will need to be planned in coordination with stormwater, seal level rise, development potential, as well as streetscape mobility designs. In looking to make public realm improvements such as lighting and signage, the CRA should prioritize street trees as a function of walkability and creating shade to attract pedestrian traffic and visitor retention within the CRA boundary. 6.2. Traffic and Pedestrian Safety One of the biggest impacts on quality of life throughout South Florida is the difficulty in traveling around the region, or in one word, `mobility'. Mobility has a diverse definition, depending on the user. To the out-of-town visitor who is here on vacation (and who is likely in no particular rush to get from point A to point B),mobility is typically about how to get from Miami International Airport to Miami Beach. This can be accomplished by getting in a taxi, an Uber or Lyft, using mass transit, or renting a car. 66 Page 2220 of 2284 The North Beach Community Redevelopment Agency Plan To local residents, mobility likely refers to sitting in traffic, and how long it takes to get somewhere, whether they are in a car or on a bus. In North Beach, which has one main point of access to the mainland,being stuck in traffic can be a daily occurrence during peak times. As new business and development occurs in North Beach, business owners will have to consider how their employees and customers will get to their business, and if they choose to drive their own private vehicle, and where will they park. Residents will want to see that, by adding new business and development, these new trips will not affect their own commute times. Although close to three-quarters of trips (among North Beach residents) are taken by personal vehicle, a relatively high percentage, roughly a quarter, of North Beach residents do not own cars. During the Public Design Charrette, residents of North Beach expressed that they are reliant on their car for meeting their daily basic needs (food, pharmacy, household items) and more often that requires leaving North Beach. In Town Center, 71st Street sees rush hour and peak time congestion, resulting in several negative effects on commuters, safety levels and economic competitiveness. The car-centric design of the roadway can also make walking and biking unpleasant, risky and even sometimes fatal. This restricts the number of visitors the area can accommodate. Providing walkable environments and basic needs within a walkable distance of residents will greatly reduce the traffic from local car trips throughout North Beach. Traffic calming measures can improve pedestrian and cyclist safety. The public plaza has been renovated at Normandy Fountain,but there still remains issues around pedestrian safety in crossing to get to this public plaza. The 2018 G.O. Bond Program is planning to implement traffic calming measures in the Normandy Isle neighborhood. This project is anticipated to complete construction by the end of 2021 (Source: G.O. Bond #42). While traffic may be calmed through Normandy Isle, as 71st remains the main entrance into North Beach, traffic calming measures are still needed in Town Center. Outside of major traffic corridors where traffic calming has led to improvements in safety,there is still a lack of crosswalks at many locations. Plan NoBe proposed 108 new pedestrian crossings with a majority in the more residential North Shore neighborhood. Of the planned pedestrian crossings at Collins Avenue between the West Lots and North Shore Open Space Park, 5 of 14 have been implemented with a spacing of 500 or more feet between them. This large distance between pedestrian crossings often leads to jaywalking and pedestrian-auto collisions. Despite relatively wide public rights-of-way,walkability is hindered because some sidewalks are narrow and interrupted by utility poles, boxes, and traffic signage. 67 Page 2221 of 2284 0 The North Beach Community Redevelopment Agency Plan 6.3. Multi-Modal Access The City of Miami Beach has adopted a modal hierarchy for the design of the public right-of-way that prioritizes bicyclists, pedestrians, and transit riders over automobile traffic. This is reflected in the 2016 Transportation Master Plan and the Bicycle and Pedestrian Plan; both of which set specific mode-share goals based on current transportation patterns. These plans envision a 30%reduction in automobile travel over the next twenty-five years. This goal for multi-modal access is illustrated throughout Plan NoBe. Plan NoBe envisioned a redesigned 71st Street that creates an environment of controlled traffic with added accommodations for transit, such as dedicated bus lanes, separated bike lanes, and additional street trees creating a more pedestrian-oriented environment. A separated and raised cycle track creates a safe and comfortable space for bicyclists. Between the sidewalk and the cycle track is a continuous planting strip which allows for the regular placement of street trees and landscaping to transform the sidewalk into a shaded and comfortable place for both pedestrians and bicyclists. Since these plans were adopted in 2016,there has been a completed green bicycle lane on Dickens Ave from 71st Street to 79th Street within the Redevelopment Area. From where the Dickens Avenue bike lane ends at 79th Street to where it starts again on Byron Avenue at 82nd Street, it shows the fragmentation of the bike network, with similar quarter-mile breaks in bike access along the Boardwalk. Protected bicycle lanes are being planned for 72nd and 73rd Streets between Dickens Avenue and Collins Avenue to create more east-west connectivity in the bike network. In 2016, the City was awarded FDOT funding for design and construction of Safe Routes to school elements,which includes Biscayne Elementary School within the CRA Boundary. As a result of Plan NoBe, trolley service was extended to connect the North Beach trolley to Mid-Beach and South Beach, in order to better connect the neighborhood to the rest of Miami Beach. The City replaced the Collins Link trolley service with the Collins Express trolley service. The Collins Express limited-stop service reduces the number of transfers and travel time. The new service is extended to Washington Avenue, at Lincoln Road on the south side and 88th'Street on the north side. Frequency of Collins Express trolley service is approximately 20 minutes. Plan NoBe and the 2016 Transportation Master Plan point to providing exclusive transit lanes along 79th Street, Normandy Drive, Collins Avenue, and Harding Avenue to improve multi-modal access. 68 Page 2222 of 2284 The North Beach Community Redevelopment Agency Plan 6.4. Parks, Gardens and Green Spaces Residents of North Beach generally live within a quarter-mile, five-minute walk of a park,primarily the North Shore Open Space Park or North Shore Park. This is a huge benefit to residents of a densely populated area, as they typically do not have a substantial private yard and, as such, depend on public parks for their connection to nature and for their recreational needs. This park system can provide many physical and mental health benefits to offset the negative effects of an urban environment, as well as environmental benefits of CO2 reduction and more. During the Public Design Charrette, participants did not point to a need to add more park space,but rather to improve existing parks/green spaces and add more cultural and arts spaces to the available civic uses within North Beach. Many pointed to the availability of West Lots to serve new needs. Additionally, there was discussion of events that would attract families, cultural tourism, and celebrate the area. One example given was a MiMo Weekend to celebrate the Miami Modern architecture unique to North Beach. 63. Adaptation Planning During the Public Design Charrette, almost 90%of participants polled that they are interested in seeing CRA funds spent on resilience. In recent years, the City of Miami Beach has made resilience a high priority with its Miami Beach Rising Above initiative that looks at both climate adaptation and mitigation. A part of North Beach's resilience strategy will be increasing the urban canopy which is part of the City's climate mitigation planning, as is described as part of the streetscape improvements above. Other tasks will include climate adaptation—strengthening North Beach's ability to adjust to different and fluctuating conditions—through sea walls, road elevations, and building improvements. 6.5.1. Sea Walls A sea wall is a form of coastal defense constructed where open water impacts directly upon the landforms of the coast. The purpose is to protect built areas, conservation, and leisure activities from the fluctuations and actions of tides and waves. As a sea wall is a static feature, it may conflict with the dynamic nature of the coast and impede the exchange of sediment between land and sea. However, sea walls remain the simplest and most cost-efficient way to control coastal flooding. In Miami Beach, the implementation of sea walls is a challenge given that North Beach only has ownership of three miles along the western water edge,while sixty 69 Page 2223 of 2284 The North Beach Community Redevelopment Agency Plan miles is privately owned. The cost of sea wall modifications can be excessive for private owners. Transferring the ownership may be an option in order to build a complete sea wall in Miami Beach. Obligations may also be passed to the City for improvements. Integrating other features will enhance the functionality of public and private sea walls. The G.O. Bond Program is working to raise public seawalls to the updated minimum height standard (5.7 NAVD) in areas most vulnerable to sea level rise and street flooding, and will incorporate living shorelines with natural vegetation, native species and other green infrastructure. The first part of implementation of the public seawall and shoreline resilient infrastructure began in January 2020 and aims to be completed by April 2022,with full implementation by 2025. This first phase includes areas within the CRA district, including Rue Notre Dame, Trouville Esplanade, and 7150 Indian Creek. Additional locations are to be determined upon completion of a prioritization matrix. (Source: GO#39: Seawalls& Shorelines). 6.5.2. Road Elevation The need to elevate or raise select streets to adapt to rising seas presents an additional consideration for new development. Many streets that are currently below 3.7 feet are being considered for elevating to match the new Base Flood Elevation (BFE) standards of 6.44 feet NAVD or 8 feet NGVD. In North Beach, Collins and Harding Avenues, the main thoroughfares closest to the Atlantic Ocean, are typically the highest streets, while streets adjacent to Biscayne Bay and the waterways are often the lowest. Newer buildings such as the Publix Super Market at 6876 Collins Avenue have been built with extra height to help ensure that,in the event of a major storm, the interior of the building remains dry. At the same time,buildings do not necessarily need to be raised immediately. Existing businesses have successfully contended with a higher street by use of ramps and elevated patios. In 2019, Jacobs Engineering Group Inc. was engaged to review and update the road elevation policy and prioritization to reflect new observations and projections and provide flexibility to accommodate private property harmonization (Source: Road Elevation Strategy and Recommended Sea Level Rise/Tidal Flood Adaptation Projects by Jacobs). 6.5.3. Building Adaptation Resilient design can also be implemented through commercial and business facade improvement programs. The programs would aim to help Miami Beach businesses prepare and address facades and building systems in order to properly anticipate and 70 Page 2224 of 2284 eThe North Beach Community Redevelopment Agency Plan accommodate future extreme weather patterns and natural events. This incentive- based program could also encourage businesses to invest in green infrastructure. 71 Page 2225 of 2284 The North Beach Community Redevelopment Agency Plan 7. Redevelopment Plan Concepts Redevelopment Plan Concepts provide a data-supported framework for implementation strategies to respond to existing and/or future market dynamics. As with other CRAs, the North Beach Redevelopment Plan is not static and requires future updates in consideration of changes in funding, assets, priorities and market forces. 7.1. Economic Development Drivers In creating a Redevelopment Plan to preserve the best parts of the North Beach Redevelopment Area - while stimulating future investment to remove blight, it is important to understand the relevance of the five key drivers for economic development: Land, Labor, Markets, Capital, and Regulation. Understanding whether and how to enhance eta t - , cow or mitigate drivers is key to creating an • implementable plan to address and prioritize resident and stakeholder aspirations. Previously outlined in Sections 3- Existing Markets c.I Conditions and 4-Real Estate Analysis, North Beach's determining constraints and opportunities are re-emphasized in the below investment drivers: Land, Labor, Markets, Capital,and Regulation. 71.1. Land The North Beach CRA 2019 Finding of Necessity identifies and evaluates land conditions impeding and impacting outside investment. Some of these same land issues also contribute to conditions of blight. It is the interplay between these conditions that creates the framework for strategies related to land, including preservation, development, acquisition, and disposition. North Beach CRA land issues/opportunities: • Predominance of defective or inadequate street layout; • Inadequate parking facilities and lack of loading zones; • Faulty lot layout in relation to size, adequacy, accessibility, or usefulness; 72 Page 2226 of 2284 The North Beach Community Redevelopment Agency Plan • Inadequate building density patterns leading to erratic scale of buildings; • Alleyway hazards and unsafe conditions; • Diversity of ownership with 4,321 non-condominium properties (many smaller, older,historic buildings) having 3,549 owners, leading to a lack of critical mass of property for redevelopment assemblage for residential or commercial projects; • Property control includes 18 owners accounting for 25%of total building area in the NBCRA; • The Deauville hotel, at roughly 595,000 square feet, represents the largest privately owned land/property opportunity to positively impact the CRA; • The West Lots, at 9.43 acres, represent the largest publicly owned land opportunity to positively impact the CRA; • Parks and open space allow critical mass of area for green resiliency infrastructure. 71.2. Labor In terms of the economic health of the residents, economic indicators related to income are much lower within the CRA compared to Miami-Dade County. Within the CRA district, the 2020 household median income is$35,500 compared to the Miami Dade County median income at$59,100. The area's unemployment rate is higher than the national average at 7.6%compared to 6.7%nationally. Occupations of employment within the district show that 48%of all employees are in the "white- collar" occupations, 33%are in"services"and 19%are "blue-collar." Increasing employment opportunities should be factored into business attraction efforts, keeping in mind that half of the existing population is aged 45 or older. 71.3. Markets Overall,the area's economic picture is on the upswing following COVID-19 closures, as indicated in the market analysis, within the retail, hospitality, residential, and office sectors. Retail Opportunities exist for business attraction and retention in the retail and restaurant space, with a focus on recruiting retailers and service providers for existing residents by identifying where select leakage is occurring- when residents leave North Beach to shop, dine, and/or secure personal or medical services. A variety of recruitment tools would play a role, ranging from small business incentives to larger investment support for new initiatives. In the meantime, the largest retail private investment 73 Page 2227 of 2284 The North Beach Community Redevelopment Agency Plan within the North Beach CRA is the Publix Shopping Plaza at 6876 Collins Avenue with roughly 114,00 square feet of development. Hospitality The CRA district currently has approximately 210 hotel rooms among three properties. Retention and preservation of North Beach's hospitality sector impacts neighborhood stability given the high percentage of area residents working in hospitality. Residential The district has more than 180 residential buildings that collectively include more than 3,000 apartments. The majority (74%)of the residential housing stock is at the Class C level. There are likely several measures that could improve the quality and taxable value of the existing housing stock, whether through improved maintenance, renovations, or resiliency additions. Office Office product within the CRA is limited compared to retail and retail strip center square footages, with most of the rentable building area for office space classified as Class C real estate. Class C is typically older than 20 years, and usually in areas that are removed from a central business district.. 71.4. Capital While most areas of Miami-Dade County saw an increase in revenues and commercial development during the past five years, the North Beach CRA has not experienced capital investment on par with either surrounding market areas and/or the County. The number of vacant structures and absence of destination retailers has resulted in existing businesses not being able to capitalize on increased foot traffic. There is a critical capital gap missing for retail attraction.With vision, a plan, and committed implementation, the CRA could step in and fill the capital gap to recruit destination retail to capitalize on traffic counts and adjacent market areas. Where banks have been seeking public sector commitment on projects in the form of housing subsidies, the CRA is well-positioned to partner with area financial institutions on retail recruitment and attraction. The key is to target projects with the most community impact. 74 Page 2228 of 2284 (() The North Beach Community Redevelopment Agency Plan 71.5. Regulation Communities must provide professional responses and expedited solutions to issues presented by residents,business owners, developers, and investors. The key for the CRA and City to encourage redevelopment and rehabilitation projects is to remove or lower barriers for entry and prohibitive regulations that add additional time and money for residents, businesses, and developers. A review of regulations regarding commercial development and signage in the Redevelopment Area is needed to create the nucleus required for North Beach's commercial corridors to survive and thrive given the existing high vacancy rates. 7.2. Land Use and Zoning The Redevelopment Plan maintains and protects neighborhoods and areas of lower- density residential while encouraging higher-density mixed-use corridors along 71st Street and Collins Avenue. Establishing a land use pattern that reflects the diverse interests of residents, businesses, and stakeholders while also promoting compatibility of land uses will be important. As an example, public input included concerns regarding the storage of City of Miami Beach vehicles adjacent to - and within sight lines from -beachfront recreational areas. Although the NBCRA doesn't have regulatory or administrative authority over land use and zoning policies, CRA funds may be used to influence and capitalize on land use and zoning items within the following Redevelopment Goals: Economic Development,Resiliency&Infrastructure,Neighborhood Character,and Quality of Life. 7.3. Neighborhood Projects and Impacts Growth and redevelopment have both positive and negative neighborhood impacts. As mentioned in Section 2.4 Safeguards to Ensure Community Redevelopment Follows the Redevelopment Plan, considerations of future neighborhood impacts including: Relocation of Displaced Residents and Businesses, Traffic Circulation, Environmental Quality,Availability of Community Facilities and Services, and Effect on Schools have been incorporated in the North Beach CRA Plan. Redevelopment projects, in the early stages of planning, should identify and plan to mitigate any potential negative neighborhood impacts. In the meantime, residents and stakeholders expressed concerns regarding the following potential negative development impacts: 75 Page 2229 of 2284 The North Beach Community Redevelopment Agency Plan • Preservation and upgrades of existing parks and open spaces; • Mitigation of traffic with new developments; • Creation of safe walking and bike paths; • Coordination with City and County on waterway cleanup; • Mitigation of flooding; and • Preservation of historic districts and structures. While the North Beach area has a housing affordability advantage comparatively with the City and County, the relatively low level of homeownership, amount of deferred maintenance, and aging infrastructure each pose challenges to neighborhood stabilization without additional City and CRA investment. Programming to encourage infill development, rehabilitation of the existing housing stock, and resiliency of Class C retail structures should be a priority. In addition, given homeownership provides and reinforces neighborhood stability, efforts should be made towards increasing homeownership numbers. CRA funds may be used to encourage neighborhood preservation and mitigate development impacts within the following Redevelopment Goals: Economic Development,Resiliency&Infrastructure,Neighborhood Character,Quality of Life, Branding&Marketing,and Leveraging Resources. 73.1. Housing Rehabilitation and Historic Preservation Many of the older buildings and historic structures were not designed for the climate impacts experienced today. Key to both rehabilitation and preservation efforts will be identifying and providing resources to incorporate resilience modifications into rehabilitation and restoration projects. In addition, programs and strategies related to adaptive reuse of residential structures along major corridors for commercial uses, housing rehabilitation,code enforcement and homeownership assistance programs all move toward a more sustainable methodology of redeveloping residential neighborhoods, while maintaining size and scale. Investments in upgrading utilities and lighting, ensuring pedestrian connectivity, and the provision of landscaping and open space, support accessibility and environmental resiliency in terms of climate change and hazard mitigation. However,just as important are land development regulations that allow for a range of housing types. Examples include the ability to construct townhomes,live-work residential and high- rise development along the major urban corridors. This will also support North Beach's ability to retain residents by providing options within the CRA to age in place and transition housing choice throughout a person's life cycle. 76 Page 2230 of 2284 The North Beach Community Redevelopment Agency Plan CRA funds may be used to encourage Housing Development and Accessibility, Housing Rehabilitation and Historic Preservation initiatives within the following Redevelopment Goals: Economic Development,Resiliency&Infrastructure, Neighborhood Character,Quality of Life,and Leveraging Resources. 73.2. Parks and Open Space The North Beach CRA Redevelopment Plan is mindful of the need to protect, preserve, and enhance its neighborhood assets while increasing accessibility to recreation and open space. As new development occurs, there will be an additional need to provide open spaces for new residents. Conversations and concerns around preservation of the West Lots for green space can be addressed through resiliency efforts and sustainable development. Incorporating open space,landscaping, and additional tree canopy provide environmental benefits such as reduction of pollution, providing shade, reducing the "urban heat island" effect while providing additional areas for stormwater retention which also improves longer term water quality. CRA funds may be used to create, preserve and enhance parks and open space within the following Redevelopment Goals: Eoonoomic Development,Resiliency& Infrastructure,Neighborhood Character,Quality of Life,and Leveraging Resources. 7.4. Resiliency & Infrastructure At the core of this plan is the concept of Resiliency, with a sustainable development component. Sustainable Development is defined as balancing community growth so that it meets the social,economic, and environmental needs of an existing population while ensuring that the same resources and infrastructure are available to meet the same needs of future generations. In short, it is a balancing act to ensure that no single activity related to development negatively impacts another. 74.1. Climate Change Adaptation North Beach has always been at the forefront of climate change discussions and efforts, with representatives at the table in 2019 during the creation of the City of Miami Beach's Blue & Green Infrastructure (BGI) plan. The Blue/Green Plan is bolstered by the City's proposed commitment to address sea level rise,with five street-raising projects contemplated within the North Beach CRA at Marseille Drive— Normandy, North Shore-A AlA West Lots, North Shore-B-72nd Street—Town Center, and North Shore-C AlA. 77 Page 2231 of 2284 • The North Beach Community Redevelopment Agency Plan The Blue/Green Infrastructure Plan provides a holistic "living with water" approach involving blue (water) and green (plant-based) elements to "keep Miami Beach above water". Many of the proposed elements will become fundamental components for all new development projects, including new projects in North Beach. Elements range from green stormwater infrastructure such as vegetation, dunes, and soils to treat and reduce stormwater flows to blue stormwater infrastructure that temporarily store and treat stormwater. The resiliency benefits to the CRA, aside from the obvious flooding mitigation, include better air quality, biodiversity, and urban heat island mitigation. CRA funds may be used to bolster the Blue/Green infrastructure and climate change efforts by targeting public spaces, existing Class C commercial and office structures, historic properties, and single-family residences within the following Redevelopment Goals: Economic Development, Resiliency&Infrastructure,Neighborhood Character, Quality of Life,and Leveraging Resources. 74.2. Water Pollution Polluted waterways were a concern of many residents. Stormwater runoff is a contributing factor to waterway pollution and a major concern with the prospect of future buildings and other structures proposed for the area. Incorporating and requiring project elements to mitigate stormwater runoff can move the CRA towards mitigating stormwater runoff and polluted waterways. Examples of such initiatives include (but are not limited to):permeable pavers, vegetated green roofing, bioretention gardens, residential rain gardens, stormwater planters, and tree canopy. CRA funds may be used to supplement larger Stormwater/Water&Sewer and Urban Forestry efforts by targeting public spaces, existing Class C and new commercial and office structures, historic properties, and single-family residences within the following Redevelopment Goals: Economic Development, Resiliency& Infrastructure,Neighborhood Character,and Quality of Life. 74.3. Traffic Mitigation Sustainable Development considers traffic flows and impacts for existing and future residents. Town Center projects in the North Beach Redevelopment Area are uniquely positioned to be within walking and biking distance of the area's recreation, entertainment, and shopping amenities. Potential exists to exemplify the concept of the "15-Minute City"where residents can navigate their communities and access amenities and resources within 15 minutes. Sometimes, that is accomplished through safety measures such as additional bike lanes, dedicated walking paths, and alley 78 Page 2232 of 2284 CDThe North Beach Community Redevelopment Agency Plan (paseo) activations. Other times, that 15-minute goal is accomplished through business attraction and recruitment activities such as recruiting retailers, restaurants, and service providers that residents ordinarily leave the neighborhood in order to access. CRA funds may be used for traffic mitigation initiatives within the following Redevelopment Goals: Economic Development,Resiliency&Infrastructure,Branding &Marketing,Neighborhood Character,and Quality of Life. 74.4. Resource Reuse and Energy Efficiency The Community Redevelopment Plan is a"Green" plan which encourages green building techniques as well as resource reuse in public and private development. The Plan itself provides for specific implementation strategies related to resource reuse and energy efficiency and recommends that all public improvements are constructed within this manner. Doing so leads to lower maintenance and replacement costs in the long run. However, the Plan also identifies opportunities for energy efficiency to be incorporated into all its implementation strategies,including future housing, economic development,and neighborhood programs. Land development regulations also encourage this through private redevelopment by providing incentives for green building techniques in all new development. CRA funds may be used for Resource, Reuse, and Energy Efficiency initiatives within the following Redevelopment Goals: Economic Development, Resiliency& Infrastructure,Neighborhood Character,and Quality of Life. 7.5. Regional Collaboration and Intergovernmental Coordination Within this plan there is a strong emphasis on Intergovernmental Coordination. Many of the larger scale infrastructure improvements, such as water quality, waterway cleanup, and resiliency improvements will require the City and CRA to coordinate efforts and advocate for improvements. Therefore, many of the implementation strategies addressed require collaboration with specific agencies and organizations that the CRA should continue to work with to see results. CRA funds may be used for Regional Collaboration and Intergovernmental Coordination initiatives within the following Redevelopment Goals: Economic Development,Resiliency&Infrastructure,Neighborhood Character, Quality of Life, and Leveraging Resources. 79 Page 2233 of 2284 (nD The North Beach Community Redevelopment Agency Plan 80 Page 2234 of 2284 The North Beach Community Redevelopment Agency Plan 8. Goals and Implementation Strategies The North Beach CRA Redevelopment Goals and Implementation Strategies include many initiatives derived from resident suggestions as well as those pulled from previous studies, reports, and master plans. In doing so, this Plan provides the legal mechanism for previously and recently identified strategies to receive CRA funding via tax increment revenue. When reviewing Implementation Strategies, keep in mind that they vary in cost, duration, impact, complexity, and boldness. Little Costs versus Significant Costs There are many actions which can be implemented at little cost, resulting in significant movement towards the accomplishment of redevelopment goals in the CRA. There are also several actions which may require significant costs to effect visible change, especially when strategies to remove conditions of blight, deterioration and economic stagnation cannot be reversed in a diminutive way. Short-term versus Long-term Short-term strategies range from "immediate" (one to five years) to "long-term" (five years to the 30-year term of the Plan). CRA actions involving code enforcement, or marketing and branding initiatives would typically fall into the short-term category. Conversely, many large-scale goals and strategies are expected to take place over a protracted period. Long-term implementation strategies are typically ongoing or are projects for which funding is not currently available. It is unrealistic to think the conditions that led to the creation of the CRA can be quickly overcome. Routine Approaches versus Bold Approaches While several recommendations cover the required approaches routinely undertaken by most CRAs,this Plan also includes and recognizes the need for bold, localized approaches. Bold approaches, when implemented, significantly change the face of a community redevelopment area. All recommended projects are implementable and essential to the CRA Redevelopment Plan. The Redevelopment Goals are: • Redevelopment Goal 1:Economic Development • Redevelopment Goal 2:Resiliency&Infrastructure • Redevelopment Goal 3 Cultural Arts,Branding&Marketing,and Communication 81 Page 2235 of 2284 The North Beach Community Redevelopment Agency Plan • Redevelopment Goal 4:Neighborhood Character • Redevelopment Goal 5: Quality of Life • Redevelopment Goal 6: Leveraging Resources 8.1. Redevelopment Goal 1: Provide Economic Development Opportunities for Businesses, Property Owners, and Residents. Economic development opportunities center on collaborating with stakeholders and residents to improve physical structures through preservation, rehabilitation, and development, while also creating programs to increase occupancy,variety of offerings, and access to labor and training resources. Bringing employment opportunities, new industries, and mixed-use projects including new office, commercial, and residential is important to revitalizing a community. This is accomplished through a variety of activities, including but not limited to all activities associated with business attraction and retention,workforce development, real estate, land development, etc. The recommendations outlined below are to impact the economic viability of area businesses and opportunities for residents. 8.1.1. Business Attraction &Retention • Inventory existing businesses to identify complementary businesses for attraction to fill the retail gap identified in the market analysis. • Create a Leasing and Sale Opportunities brochure and assist applicable property owners with leasing packages. • Host"Banker/ Broker/Developer" events to highlight available land, retail, and office space. • Engage with existing business owners to assess and support small business needs, including marketing, rehabilitation, resiliency improvements, labor needs, and employment training. • Collaborate with workforce partners to identify targeted job classifications, feature growing industries,post nearby job openings, and conduct job training and workforce development programs for CRA residents. • Implement a"Shop Local"program. • Create a periodic "Business Spotlight" to build community awareness of local business assets. 82 Page 2236 of 2284 The North Beach Community Redevelopment Agency Plan • Develop incentive programs to help existing or new property and business owners with aesthetics, repairs, rehabilitations, improvements, land acquisition, and resiliency modifications. • Initiate an emergency business assistance program in the event of a declared emergency with significant adverse economic impacts. • Work with City to allow temporary uses,pop-up activations, retail and restaurants, whether in vacant shopfronts or on vacant lots. • Engage with the artist community to create coverings or displays for vacant storefronts. • Create collateral and incentive programs to attract neighborhood services like medical uses as well as entertainment options and popular public-good types of business such as food halls, coworking spaces, incubators, breweries/brewpubs, commercial kitchens, and ghost kitchens. • Partner with appropriate providers, educational or vocational institutions and industry organizations to provide or support workforce training initiatives. 8.1.2. Real Estate • Identify priority areas for redevelopment and associated property acquisition needs related to replacement housing, infill redevelopment, parks, greenspace, parking, and resiliency efforts. • Utilize statutory authority to acquire, dispose of, and develop property in furtherance of the purpose of the CRA. • Engage in public- private partnerships to achieve redevelopment goals. • Identify and secure additional local, state, and federal funding sources based on CRA goals, potential project impacts, and benefits related to housing, historic preservation,job creation, and resiliency efforts. • Include restrictions and covenants on publicly-owned, acquired, and disposed of properties to ensure specific public purposes are met. • Establish protective measures to safeguard housing for existing residents within the CRA consistent with federal requirements • Conduct a North Beach Property Development Workshop regularly for property owners and developers to share best practices, information and resources and invite relevant City staff to attend. 83 Page 2237 of 2284 The North Beach Community Redevelopment Agency Plan ■ Develop a"how to" guide for new and existing development. • Better utilize public lands, especially vacant property and surface parking lots, for highest and best use, in a way that supports the surrounding community and attracts new investment. 8.2. Redevelopment Goal 2: Invest in Resiliency & Infrastructure Infrastructure and resiliency improvements are necessary to support and implement the goals of the CRA plan, specifically within commercial areas and to improve conditions in neighborhoods. Resiliency and infrastructure strategies are accomplished through a variety of activities, including but not limited to all activities associated with resiliency, sustainability, infrastructure, transportation,etc. The recommendations outlined below are to increase area resiliency and associated infrastructure. 8.2.1. Resiliency&Sustainability • Coordinate with the City of Miami Beach on communication strategies and traffic mitigation efforts related to CRA-located sea-rise projects. • Develop a resiliency incentive program to assist residential and commercial property owners with applicable capital improvements. • Create developer, property owner, and homeowner incentives for certified green building design elements, energy efficiency upgrades, and the incorporation of renewable energy sources. • Encourage"adaptive reuse" for existing buildings to attract new markets and investment. • Establish CRA project goals for U.S. Green Building Council LEED and/or Florida Green Building Coalition certifications. • Support initiatives in the City's Sustainability Plan, Energy Economic Zone Work Plan,Blue/Green Plan,and Resilience Planning. • Implement adaptation projects to address environmental change including raising streets and sea walls, dune restoration, and constructing pump systems. • Work with City, County,and other utility providers to increase awareness on utility usage surveys and assessments. • Encourage water reuse systems for irrigation when available. 84 Page 2238 of 2284 The North Beach Community Redevelopment Agency Plan • Recruit financial institutions to provide financing options for residential and commercial energy and water efficiency, renewable energy and water quality projects with applicants adhering to the financial institution's requirements. • Work with housing organizations to encourage energy saving measures in their projects. 8.2.2. Infrastructure& Transportation • Partner with the City's Department of Transportation to fund and implement the Transportation Master Plan related to the existing street grid gaps and mobility enhancements. • Undertake streetscape improvement projects to have multi-modal streets and include bicycle lanes which may be protected, pedestrian lighting,on-street parking,wide sidewalks, shade trees, landscape, site furnishings, ADA improvements, in-pavement crosswalk lighting,and other Complete Street elements. • Partner with the City to identify on-street parking spaces for temporary or permanent conversion to parklets to for commercial or recreational space. • Reconfigure, redesign or remove street front surface parking lots and explore funding parking structures and garages at locations identified in Plan NoBe or otherwise. • Implement design restrictions and guidelines for parking garages to encourage future adaptability and/or repurposing. • Partner with entities,organizations or agencies to fund electric vehicle charging stations. • Work with the City to identify opportunities for underground utilities, transition from septic, and increase in water and sewer capacity. • Partner to fund utility, drainage and street elevation projects for major thoroughfares. • Create more mobility options including but not limited to adding new crosswalks, protected bike lanes/ways, and bike parking. • Work with Miami-Dade County Transit and the Cityto construct new exclusive/dedicated transit lanes (for buses), study mass transit options, and implement other traffic flow improvements or traffic reduction initiatives, and ensure bus stops have shade cover, seating, weather protection, and lighting. 85 Page 2239 of 2284 • The North Beach Community Redevelopment Agency Plan • Coordinate with FDOT, the City, and the County on streetscape improvements to major thoroughfares. • Partner on renovations or enhancement to bridge. • Partner with the City to identify and secure appropriate storage for city vehicles and equipment or beautify existing storage area. • Contract with ride share and other mobility vendors to provide short distance rides from North Beach to places of employment, entertainment, education, recreation, shopping and other important destinations. • Support the City's capital improvement plan and the Blue/Green Plan as allowed by statute. • Encourage connectivity between the CRA's sub-areas. • Install landscaping as needed to improve an area's attractiveness. 8.3. Redevelopment Goal 3: Strengthen Cultural Arts, Branding & Marketing, and Communication The key to accomplishing the CRA's goals begins with asset identification and positioning to tell the story of what makes the North Beach Community Redevelopment Area unique and ripe for investment. Given the area's proximity to other destination locations, it is critical to develop and communicate an authentic brand featuring the area's unique assets. This is accomplished through a variety of activities,including but not limited to all activities associated with arts and cultural heritage,branding, marketing,communications, etc. 8.3.1. Arts&Cultural Heritage Tourism Cultural&Heritage Tourism is an economic driver for communities. Destination cultural assets present opportunities for rehabilitation, restoration, investment, and development. The NBCRA can capitalize on North Beach's history and cultural assets to position the district for additional cultural and heritage tourism. The CRA has an opportunity to capitalize on these assets through a variety of activities, including but not limited to the recommendations outlined below to impact the arts and cultural heritage. 86 Page 2240 of 2284 (- The North Beach Community Redevelopment Agency Plan ■ Work with the City's Art in Public Places to bring murals, sculptures, and other public art to key gateways and corridors. • Support and enhance the North Beach Bandshell and neighborhood MiMo structures. • Work with and support the City in the creation of development and architectural guidelines to support brand identity. • Encourage and support the development and/or rehabilitation of cultural facilities including galleries, artist incubators, studios,performing art spaces, a cultural center and other public spaces. ■ Encourage and support the recruitment of cultural partners and performing arts organizations and assist in cultivating,preserving and enhancing the artist community. • Partner on city, county, and state tourism co-op marketing programs. • Develop Investment Tourism marketing materials for visitors who may be potential business owners, homebuyers, and redevelopment project investors. • Explore opportunities to partner or collaborate with cultural tourism and cultural heritage organizations. • Promote restaurants and retailers with area cultural tours and food fairs. 8.3.2. Branding Defining and communicating the North Beach CRA brand is crucial for the successful implementation of the Redevelopment Plan to address the needs of residents and stakeholders. Developing the brand identity involves tactics and tools, including but not limited to the below recommendations. • Develop a logo, campaign strategy, and signage including for outreach and relationship-building to multilingual stakeholders and residents. • Produce a full marketing campaign that"tells the story" of the North Beach CRA's aspirational identity, brand, position, and opportunities. • Host a brand launch for the community. • Design and install branded light-pole banners in strategic areas. • Design and implement a comprehensive wayfinding signage program, including but not limited to, lighted street name signs, entry and exit 87 Page 2241 of 2284 The North Beach Community Redevelopment Agency Plan wayfinding signs visible at night, and lighted public art that serves as wayfinding and district identity. • Identify locations for "district identity"physical landmarks and gateways. • Work with the City to develop branded development and construction signs to highlight CRA-funded projects and initiatives. 8.3.3. Marketing&Communications Strategies to effectively communicate the vision for the Redevelopment Area as a vibrant destination for culture, arts, and activities should be implemented to broaden the appeal of living,working, and shopping in the North Beach CRA. It is recommended the CRA execute a variety of activities, including but not limited to the recommendations outlined below to drive communication efforts. • Develop an annual strategic marketing plan that identifies goals and objectives for a comprehensive marketing and communications plan supporting the specific redevelopment projects and programs outlined in this Plan. • Design collateral materials for events, cultural and public assets, leasing packages, opportunity site brochures, etc. • Attend national and regional real estate and tradeshow events to market opportunities within the CRA. • Actively market and promote stories,milestones, community events, opportunities,and successes from within the CRA's boundaries to residents and stakeholders through newsletter (printed and digital), social media, press releases and website. • Communicate with the City, County, and other organizations to advocate the CRA's vision and brand promise. • Launch a comprehensive social media campaign on Facebook, Instagram, Twitter and YouTube or other social media platforms that exist or may come into existence or trend during the implementation of this plan. • Update the CRA's website per Florida Statute 189.069 and increase digital presence utilizing new brand standards guide, keywords and comprehensive messaging strategy. • Build and maintain a resident and visitor database (at events, online, etc.)for CRA communications. 88 Page 2242 of 2284 The North Beach Community Redevelopment Agency Plan • Include a multilingual and multicultural communications program for outreach and relationship building to the various North Beach CRA stakeholders and communications outlets including, but not limited to residents, homeowner associations, neighborhood associations, business owners, tourist attractions and tourists, regional and statewide welcome centers, government leadership, law enforcement offices, real estate owners and developers, bankers, and financial institutions, etc. 8.3.4. Implement Neighborhood Ambassador Program to spur community engagement and collaborations, Promotional Activities and Events The CRA should produce events and activities that further the work outlined in this Plan to increase awareness about the Area's aspirational brand and position itself to attract new investment, businesses, development, and cultural arts venues through a variety of activities, including but not limited to the recommendations outlined below for activities and events. • Develop signature community events that promote community pride, especially related to MiMo architecture,the arts,culture, music and history, and encourage resident participation throughout the district. • Create economic development opportunities for local businesses to increase their client bases during community celebrations. 8.4. Redevelopment Goal 4: Protect and Enhance the Neighborhood Character Neighborhood character involves the look, feel, and movement within a residential area. It involves all aspects of land use, lot size, structure heights, and greenery, while also looking at business uses, walkable main streets, safe alleyways, and automobile traffic flow. Implementation strategies must work to preserve and enhance what residents value in the neighborhood, while also working to improve on or add what is missing. This is accomplished through a variety of activities, including but not limited to all activities associated with protecting and enhancing the neighborhood character. Strategies related to neighborhood character are those including but not limited to the below recommendations. • Develop incentive programs to rehabilitate and preserve existing housing stock and/or develop new housing stock. • Create infill housing programs to increase residential projects on existing residential sites. 89 Page 2243 of 2284 The North Beach Community Redevelopment Agency Plan • Support affordable homeownership opportunities through first-time homebuyer, down-payment and utility assistance programs. • Create incentive programs to increase workforce housing, mixed-income projects, mixed-use projects, and mitigate the costs of historic preservation and rehabilitation. • Capitalize on and preserve the Miami Modern (MiMo) prevailing design aesthetic exhibited by North Beach's historic buildings. • Partner with the Miami Beach Housing Authority and the City's Housing and Community Services Department to protect existing residents and provide affordable housing and homeownership opportunities. • Work with the City to ensure property owners are meeting code compliance standards and implement remedies 8.4.1. Partner with the City and explore creation of Transfer of Development Rights (TDR)Districts. Key Sub-Areas for Phase I Redevelopment As noted earlier in the Neighborhood Analysis section,there are a few neighborhood sub-areas that have key commercial hubs or real estate assets in the North Beach CRA where a critical mass of improvements will indicate the area is changing for the better. These sub-areas include Town Center,Normandy Isle Fountain Area, North Shore and the West Lots. The following high-level overviews and associated implementation strategies are critical for revitalization of these sub-area or neighborhoods. Town Center The creation of a Town Center was first presented in a 2007 concept plan and then further developed in the 2016 Plan NoBe. The vision is to take the existing commercial hub of North Beach and transform it into a compact, pedestrian-friendly town center that is vibrant, dynamic, and includes a mix of uses with an attractive residential living environment, compatible office uses, and neighborhood-oriented commercial services in medium-scale density. There are a number of short-term and long-term strategies to bring the Town Center concept to fruition. • Promote a diverse mix of residential, business, commercial,office, institutional, educational, and cultural and entertainment activities for workers,visitors, and residents. 90 Page 2244 of 2284 • The North Beach Community Redevelopment Agency Plan • Encourage pedestrian-oriented development within walking distance of transit opportunities at densities and intensities to support transit usage and Town Center businesses. • Partner with the City and County to provide a balanced mix of transportation options, including efficient buses, a connected bike network, walkable streets, and a connected street network for all modes of travel. • Provide opportunities for live/work/play lifestyles and increase the availability of affordable residential and Class A office space. • Create a place that represents a unique, attractive,and memorable destination for residents and visitors. • Enhance the community's character through the promotion of high-quality urban design and creative placemaking. • Support creation of a walkable main street • Encourage and support street raising for resiliency to sea level rise. • Design and construct streetscape improvement projects along major streets and corridors in the Town Center to create walkable streets and provide dining, activation and retail at ground level. • Utilize City assets for productive development purposes. • Work with development community to bring infill projects that remove gaps and discontinuity in the pedestrian experience. • Partner with property owners to screen parking garages and surface lots from view on the street. • Work with banks, developers, and property owners to redevelop non-historic, under-performing, one-story structures with multi-story mixed-use, resilient, and energy-efficient buildings. • Work with the City to: o Establish Design Guidelines. o Set additional ten-foot setback for new buildings (at key locations) to accommodate wider sidewalks for outdoor dining. o Prevent new buildings, especially parking facilities, from presenting a back or side to existing street fronts. o Maintain limited or reduce parking requirements. 91 Page 2245 of 2284 The North Beach Community Redevelopment Agency Plan Normandy Isles -Fountain Area The 2016 Plan NoBe set the vision for the Normandy Isles Fountain Area to become a vibrant, pedestrian-oriented shopping district with a combination of protection and enhancement. The Fountain area needs to transition from its current automobile- centric layout to accommodate pedestrian movement and transit connectivity. • Redesign Normandy Drive and 71st Street to include wider sidewalks for pedestrians, on-street parallel parking, two traffic lanes, dedicated transit lanes, additional crosswalks, and protected bike facilities. • Support redevelopment of sites around the fountain to include retail, office and residential. • Integrate the fountain parcel with the rest of the block. • Encourage shopfronts on the ground floor and residences above. • Enhance Maimonides Street to upgrade it from alleyway to inviting space with elements like murals, trees, kiosks, areas for outdoor dining, whimsical lighting, art installations, and other beautification efforts. West Lots As explained in Neighborhood Analysis section,the West Lots are eight city-owned parcels encompassing 9.43 acres that contain vacant sites, surface parking lots, a skate park, and the City's Lifeguard Headquarters among other temporary uses. The June 2018 Plan for the West Lots envisioned low-impact, active, civic, and social uses along with public art, resiliency, and sustainability elements on the parcels. • Support development of active public uses like green spaces, splash pads, exercise equipment,and other recreation facilities and amenities. • Engage in public-private partnerships to produce revenue generating uses to increase residential,commercial and recreational opportunities. • Provide active uses like markets, commercial village, and hospitality facilities to support the neighboring passive park. • Incorporate resilience and sustainability elements. • Improve parking and transit access. North Shore The final highlighted sub-area is the North Shore neighborhood, situated between the ocean and the Tatum Waterway and extends from the Town Center to the northern border of Miami Beach at 87th Terrace. North Shore is characterized by multifamily 92 Page 2246 of 2284 The North Beach Community Redevelopment Agency Plan housing of relatively low height—two to four stories. Given that the majority of the North Shore neighborhood falls within the National Register designation, preservation and restoration strategies will be critical, along with workforce housing initiatives. • Create incentive programs for owners to preserve, restore and rehabilitate historic structures. • Incorporate historic assets in branding and marketing initiatives. • Partner with multifamily property owners to retain affordable and workforce housing offerings. • Work with the private sector or public partners, like the City of Miami Beach Housing Authority and Miami Beach Community Development Association, to construct new workforce housing and affordable housing. 8.5. Redevelopment Goal 5: Improve the Quality of Life for Residents and Visitors Quality of Life measures are highly subjective,but almost always include measures related to access to parks, health and well-being, and neighborhood safety. This is accomplished through a variety of activities,including but not limited to all activities associated with quality of life, community spaces, safety, etc. The recommendations outlined below impact the Quality of Life for residents and visitors. 8.5.1. Community Spaces • Partner with the City to implement projects identified in the 2020 Parks and Recreation Master Plan to define the North Beach recreation corridor. • Partner with horticultural organizations to construct community gardens in parks throughout the district. • Promote the health and well-being of residents by encouraging physical activity,alternative transportation, and greater social interaction. • Improve pedestrian pathways along waterways. • Explore the feasibility of restoring the Log Cabin in the North Beach Oceanside Park. • Develop green space throughout the CRA, such as parks, parklets, plazas, alleyways, and pocket parks. 93 Page 2247 of 2284 • The North Beach Community Redevelopment Agency Plan • Work with the City to ensure streets are maintained and cleaned regularly. • Work with the City to ensure landscaping is maintained on a regular basis. 8.5.2. Safety • Work with the Miami Beach Police Department (MBPD) or ambassador programs to develop and implement community policing innovations. • Support and adopt safety programs and activities through CPTED (Crime Prevention Through Environmental Design). • Work with neighborhood groups, residents and the Miami Beach Police Department to establish or reignite a Neighborhood Watch program. • Work with the Miami Beach Code Enforcement Department to highlight opportunities and address code-related concerns. • Install lighting to encourage activation and enhance public safety. 8.6. Redevelopment Goal 6: Leveraging Resources for Community Redevelopment Redevelopment activities can be funded through many means including the North Beach CRA Trust Fund,grants,and financing. This is accomplished through a variety of activities, including but not limited to all activities associated with funding redevelopment. The CRA may need to leverage its annual TIF funding to implement large scale capital projects. Should the CRA choose to bond or incur other debt to complete capital projects,a dedicated revenue source in the annual budget will need to be identified for debt service. The CRA can also utilize the following funding mechanisms for redevelopment: • Private Investment Many CRAs and other districts design business attraction programs with developer entitlements and financial incentives in mind to fund public improvements and infrastructure with private investment. • Community Benefits Agreements: Municipalities routinely partner with developers to encourage design and/or construction of parks and other public facilities and infrastructure projects providing community benefit. • Revenue Sharing: Through Public Private Partnerships, CRAs frequently participate in revenue sharing projects for long-term benefits and self- sustainability. 94 Page 2248 of 2284 nThe North Beach Community Redevelopment Agency Plan • Transit Oriented Development (TOD)Funding:Transit-Oriented Development funding is available through state and federal sources for mixed-use development projects tied to increasing use of public transit, providing greater access to retail offerings, increasing access to job centers, and providing affordable housing in close proximity to employment centers. • Community Development Block Grants: CDBG funding is available for eligible projects through Miami Dade County. The program funds can be used: to build community facilities, roads, parks;to repair or rehabilitate housing; to provide new or increased public services to residents; or to fund initiatives that generate or retain new jobs. • Housing and Urban Development Grants and Loans: The U.S. Department of Housing and Urban Development(HUD) provides low-interest loans to local governments for the implementation of capital projects for revitalization and economic development,including streetscape and infrastructure improvements. These loans can be supplemented by Economic Development Initiative (EDI) grants from HUD. • Department of Economic Opportunity Grants: The Florida Department of Economic Opportunity(DEO)provides grants to local governments for the planning and implementation of economic development initiatives. Grants are usually in the$40,000 range. • Business Improvement District: This is a long-term goal. With a BID in mind down the road, the CRA's business retention and attraction program should focus on existing businesses and building relationships for implementation. A BID can provide funding support for the continuity of some CRA programs after the CRA sunsets and increment revenue is no longer available. • New Markets Tax Credits: This federal program incentivizes business and real estate investment in low-income communities of the United States via a federal tax credit. It is administered by the U.S. Treasury Department's Community Development Financial Institutions Fund and allocated by local Community Development Entities across the United States. • Economic Development Agency: Public Works program investments help facilitate the transition of communities from being distressed to becoming competitive by developing key public infrastructure, such as technology- based facilities that utilize distance learning networks, smart rooms, and 95 Page 2249 of 2284 CThe North Beach Community Redevelopment Agency Plan smart buildings; multitenant manufacturing and other facilities; business and industrial parks with fiber optic cable; and telecommunications and development facilities. In addition, EDA invests in traditional public works projects, including water and sewer systems improvements, industrial parks, business incubator facilities, expansion of port and harbor facilities, skill-training facilities, and brownfields redevelopment. ■ Economic Development Transportation Fund: The Economic Development Transportation Fund, commonly referred to as the "Road Fund," is an incentive tool designed to alleviate transportation problems that adversely impact a specific company's location or expansion decision. The award amount is based on the number of new and retained jobs and the eligible transportation project costs,up to $3 million. The award is made to the local government on behalf of a specific business for public transportation improvements. • Brownfield Incentives: Florida offers incentives to businesses that locate on a brownfield site with a Brownfield Site Rehabilitation Agreement (BSRA). Financing and Implementation Plan Although the CRA is required by the Act to produce an annual budget for expenditures from the CRA Trust Fund, it is recommended to develop a five-year or multi-year implementation strategy with corresponding funding as part of the budgeting process to help guide the redevelopment program. Implementation of the CRA's programs and execution of the CRA Redevelopment Plan Goals and Implementing Strategies will be accomplished through the powers and authority vested to all CRAs by state law, the Interlocal Agreement, and through regulatory language adopted specifically for this Plan. 96 Page 2250 of 2284 0 The North Beach Community Redevelopment Agency Plan 9. Financial Analysis This section provides an analysis of possible TIF funding amounts over time under conservative, but reasonable, estimates of increment growth within the Redevelopment Area. 9.1. A Tax Increment Financing (TIF) Overview The tax increment that Tax Increment Financing ("TIF") uses to fund economic development initiatives in the CRA Area is based on the growth over a base year taxable value for real estate within a defined area. The simplest way to understand how TIF financing works is to assume that an example property has a tax bill in 2020 of$1000,but $1100 in 2021. The 2020 tax bill of$1000 is the base year. Any growth above this value is what is shared with the CRA for its funding stream. In the example above, the$100 more paid in 2021 is the increment in that year. This process multiplied by all of the properties in the established CRA Redevelopment Area is what provides the funding source for the CRA's activities over the 30-year term of the agency. The positive growth in real estate values within the designated CRA area is then allocated by formula to the CRA and the taxing authorities. The available increment in a given year is multiplied by a fraction of the total increment, which is 96.2%for North Beach, (with the 3.8%reserved amount being used for administrative overhead costs associated with the program), then shared between the city, county and CRA district by a set percentage. 97 Page 2251 of 2284 CDThe North Beach Community Redevelopment Agency Plan For the North Beach CRA Redevelopment Area,the recent comparative history of the area's taxable values shows a variable pattern of taxable value growth that the recent COVID-induced economic slowdown has only exacerbated. With an assumed base year of 2021, the total taxable value of all real estate in the CRA district is $1.47 billion USD. All projections of tax increments will begin from this base year and Figure 33:Recent Taxable Value History in the CRA District 8696 Yes 2014 2016 2011 2010 2019 2600 201 DURALGROUN0 ORVAI.T:FERMIS-NON AUTOMOTVE $ 1,570,650 6 7583,715 S ¶,652.066 t 2,037,294 t 1445,000 1,589,500 1.748550 C00PE ATNF-RBOEIRAL COOPERMAN-RFSCEMIW, 8 226.695 6 216.566 3 254,775 S 279,652 6 307,315 761.729 636.661 EDUCATION4/8CENT1RC-FX EDUCAT10744L-PFNATE t 143,156 6 157,471 $ 173.218 t 181.476 $ 161,431 199,574 714,296 F492 ILL 96TITU710N:OFCE BUILDING 1 5,201,726 1 5,993.167 6 5.692.462 $ 12.322,321 S 74.908,668 15.649.751 16.564,672 NOTA OR MOTEL COMUEgAL•TOTAL VALUE 1 400,000 $ 400,000 $ 400,000 f 400.000 8 400,000 400,000 100,000 NOTE_OR MOTE_:COM:06O1J4-TIMESHARING 9 5.720.123 $ 10.699,522 $ 11.745,792 t 12,990,074 1 14.471,177 15,517,7.21 15.334,977 IOTA 00MO1E_:N451E_ $ 128,610.601 $ 128,452,679 $ 129.595427 $ 136.719583 1 107,255,411 114460,916 117,999,440 110117 46421-FAGTLI6O:40/47 MFG 6 7000 PROOE58115G t 496,137 $ 545.750 $ 000.325 3 645,012 1 643,306 945,199 644,060 16649 L6&ST0 OB47HL:WED USE-COMMERCIAL $ 7.741.570 1 6,232,125 $ 5,700.993 1 10.157.974 1 10,599,011 11,452,996 12.003,837 MGM 18E-STORET64W41W-:MO®USE-RBO947141 $ 4.494017 $ 7.056.338 3 7539977 $ 7.974,142 9 7,456,329 5.233.4 6.664,673 (AOM U52-5113M4105136141141:PETAL OUTLET 1 1255650 1,381,215 1,519,336 i MILTFAMLY 10 L NRS PLU6:MLLTFAMLY 3 OR MORE 11475 $ 64.823,643 $ 70.580.044 $ 77.164143 $ 64465440 S 134,743.106 144,800,430 549,409.377 MILTFAMLY 2-9 UMTS-217190 1)1015 5 592,101 5 7,159,501 3 1,262,119 9 7,321,169 $ 1,407,700 1,524737 1,663,696 MU.T25AMLY 2.9114475:MILTFAMLY 3 OR M01E UMTS 6 36.484180 $ 43,934,91) 8 47,456,959 $ 51565,735 $ 70.607.691 77,664964 03,527,217 OFFICE 6ULO•43-M 2.1097O57:OFFICE N109O 9 7,013,570 8 9.515.676 9 10.205590 $ 14,074.376 $ 12,023,282 13,671.720 14,641,847 OFFICE SI1D640.CME STORY OFFICE 131.180240 $ 6,014364 $ 4617,997 9 9,109,016 5 9.501,960 $ 9.732,242 9,970,678 10,442.509 PAI9017G 0.0746094E NOME PARK:PRIMO LOT S 14,445,699 $ 15,643,706 5 20,197,926 5 25,904762 6 32,030.790 34,261,736 34782,432 PROFPSSIONAL SERVICE 99155 OFFICE BULLING t 2,1(4662 $ 2,399.775 t 2.517.329 t 2.630,459 6 2.723,719 2,670,651 2566.565 166840N2.-SNGLE FAMILY:1 IMT 1 2,417.117 1 2,956,567 3 3.170.641 $ 3.272.514 3 4,527.310 4.739.900 4.4.942 494941114.-TOTAL VALUE:O33I/]OMNLM-49494150L $ 294115,410 t 334595,679 $ 36440,105 3 394.192,028 6 414,443,975 707.216.445 750,163,247 14245350141-TOTAL VALUE:005469P&94-76403/49144 3 75.796 1 76.676 5 79.338 1 62,054 5 84.563 67.067 99.564 RESTAURANT OR CAFE11374:PETAL OUTLET 5 5,531,126 $ 11,245,979 5 12,421.682 $ 13,551,428 $ 17,44,270 18.012.711 16344,361 SEVIDE STATION:SERVICE STA1gN-AUTOMOTIVE 1 5,411,771 9 5,962,663 S 5.471,666 1 742,674 9 7,637,368 6,401,103 5,241,211 STOW:OOA04EApAL-TOTAL VALLE 9 1,532,252 1 154,477 5 1554024 $ 2,109,425 5 2,243,34 2,467,104 2,714,474 STORE:OO/ODI140.112-COMMERCIAL 3 5.14,961 5 5.291.112 $ 9,432,526 9 9.515,312 $ 414,519 10.764687 11.241.492 5101E:FETAL OUTLET f 42,625,215 5 50.135.0 3 52.4.699 S 56.784.492 $ 100,924462 107,467,013 112,331.629 $1,64624.14451-.PETAL OUTLET 9 15.200.000 t 17620,500 $ 17521,265 1 15,275381 5 21.200,730 21.814.((0 21,614,49 0141748:14711.777 6 7,091.315 1 7609446 6 1.54.44 6 9,235607 9 9.606.483 10,44,160 10,920,132 VACANT LAND.O0MMERC84.:EXTRA FFA 07461 T IAN PMQG 6 19.132,235 1 19.166,240 t 19,24,367 1 19.256,652 6 16,34.066 19,366,505 19,424991 VACANT 1/10-005665 9-:VACANT 1AN) 5 11.384.045 1 12,44,725 t 1774,044 9 1628E134 1 15,014.156 20,959,979 23.228036 VACANT PE591E47ML COAOO 2.920.44 2.820.186 w67455011601 7E61*OL OR SIG.WAR SOUAE OR STORAGE $ 2.700.400 9 2,970,000 6 2.843.500 9 7127,650 5 3.440.635 3,784.64 4,163,157 Olnd 1650 $ 714,394922 $ 784,102,270 $ 049,761,185 $ 918,440256 $ 1,050,386,962 1,400232,242 1477.620.886 value. Annual tax assessments are based on market data, such as sales, income information and the condition of the property. Understanding the composition of the taxable basis is important for a variety of reasons,but primarily because it shows where economic development initiatives may have the most immediate and far-reaching impacts on the tax increment's size and growth rate. 98 Page 2252 of 2284 The North Beach Community Redevelopment Agency Plan The 2021 taxable values by use show that 83%of all property taxes in the CRA district come from just five uses, and nearly half of the taxable values are derived from residential condominiums. Summing the three different residential types (condominiums, multi-family of 10 or more units and multi-family of 9 or less) to give a total residential value in the top five provides 67.3%of all property taxes. Hotels provide 8.0%and retail a further 7.6%. Figure 34:Taxable Value Contributions by Real Estate Uses Incremental Cumulative Use Value RESIDENTIAL-TOTAL VALUE:CONDOMINIUM-RESIDENTIAL $750,163,247 50.8% 50.8% MULTIFAMILY 10 UNITS PLUS:MULTIFAMILY 3 OR MORE UNITS $159,409,377 10.8% 61.8% HOTEL OR MOTEL:HOTEL $117,699,440 8.0% 69.5% STORE:RETAIL OUTLET $112,331,829 7.6% 77.1% MULTIFAMILY 2-9 UNITS:MULTIFAMILY 3 OR MORE UNITS $83,527,217 5.7% 82.8% PARKING LOT/MOBILE HOME PARK:PARKING LOT $36,782,432 2.5% 85.3% VACANT LAND-COMMERCIAL:VACANT LAND $23,229,005 1.6% 86.8% SUPERMARKET:RETAIL OUTLET $21,814,000 1.5% 88.3% VACANT LAND-COMMERCIAL:EXTRA FEA OTHER THAN PARKING $19,428,691 1.3% 89.6% RESTAURANT OR CAFETERIA:RETAIL OUTLET $18,544,361 1.3% 90.9% FINANCIAL INSTITUTION:OFFICE BUILDING $16,564,672 1.1% 92.0% HOTEL OR MOTEL:CONDOMINIUM-TIMESHARING $16,334,877 1.1% 93.1% OFFICE BUILDING-MULTISTORY:OFFICE BUILDING $14,641,947 1.0% 94.1% MIXED USE-STORE/RESIDENTIAL:MIXED USE-COMMERCIAL $12,003,837 0.8% 94.9% STORE:CONDOMINIUM-COMMERCIAL $11,247,492 0.8% 95.7% UTILITY:UTILITY $10,920,122 0.7% 98.4% OFFICE BUILDING-ONE STORY:OFFICE BUILDING $10,442,599 0.7% 97.1% SERVICE STATION:SERVICE STATION-AUTOMOTIVE $9,241,211 0.6% 97.7% MIXED USE-STORE/RESIDENTIAL:MIXED USE-RESIDENTIAL $8,654,833 0.6% 98.3% RESIDENTIAL-SINGLE FAMILY:1 UNIT $4,938,942 0.3% 98.7% WAREHOUSE TERMINAL OR STG:WAREHOUSE OR STORAGE $4,163,167 0.3% 98.9% PROFESSIONAL SERVICE BLDG:OFFICE BUILDING $2,886,565 0.2% 99.1% VACANT RESIDENTIAL:CONDO $2,820,468 0.2% 99.3% STORE:COMMERCIAL-TOTAL VALUE $2,714,474 0.2% 99.5% BURIAL GROUND OR VAULT:REPAIRS-NON AUTOMOTIVE $1,748,450 0.1% 99.6% MULTIFAMILY 2-9 UNITS:2 LIVING UNITS $1,663,696 0.1% 99.7% MIXED USE-STORE/RESIDENTIAL:RETAIL OUTLET $1,519,336 0.1% 99.9% COOPERATIVE-RESIDENTIAL:COOPERATIVE-RESIDENTIAL $836,661 0.1% 99.9% LIGHT MANUFACTURING:LIGHT MFG&FOOD PROCESSING $644,060 0.0% 100.0% HOTEL OR MOTEL:COMMERCIAL-TOTAL VALUE $400,000 0.0% 100.0% EDUCATIONAL/SCIENTIFIC-EX:EDUCATIONAL-PRIVATE $214,296 0.0% 100.0% RESIDENTIAL-TOTAL VALUE:CONDOMINIUM-TIMESHARING $89,584 0.0% 100.0% Broadening the tax base in the CRA district is a worthwhile goal on its own and a functional mechanism by which to add to the tax increment by adding new properties to the supply and renovating or enhancing the existing stock of buildings. 99 Page 2253 of 2284 The North Beach Community Redevelopment Agency Plan 9.2. Projected TIF Proceeds Over Time 9.2.1. Base Year Amount Examination of the Base Year amount of the proposed CRA area begins with a review of the Property Appraiser data for all parcels located within the boundaries. These properties have a current Taxable Value of$1.477 billion based on Miami-Dade County Property Appraiser data for 2021. When the Trust Fund for the proposed new CRA boundaries is established, the current Taxable Value, at that time,will be the Base Year for the CRA. 9.2.2. Future Revenue Projections The estimate of the future revenues is based on two factors: • An annual growth rate of the Taxable Value (%) • Increased Taxable Value from new development($) • Millage rates ($/$1,000 in value) The average valuation growth rate for existing properties within the Redevelopment Area used for this study is approximately 2.25%per year. This rate reflects the increase in value of properties that are already built. This rate is appropriate for planning purposes in order to provide a conservative projection of revenue over the CRA time horizon. Note that taxable values over time are based on assumptions in growth of the taxable base and millage rates in the Redevelopment Area. 9.2.3. Millage rates: These rates are adopted annually and for 2020 are as follows for unincorporated Miami Beach: • County millage rate=0.0046669 • City millage rate =0.0057289 • Total annual millage rate =0.0103958 These figures exclude millage rates for debt service, misc. millage, schools, regional and county-wide and other uses. 100 Page 2254 of 2284 The North Beach Community Redevelopment Agency Plan Figure 35 shows Projections of Tax Figure 35:Projected Tax Increment Growth in the CRA District Increment Growth in the Redevelopment Area over the next 30 Increment MI Taxable values Property taxes Tamble values Property taxes years. Base year $ 1,477,620,886 S 15,360,903 $ $ • TIF YR 1 $ 1,499,785,199 $ 15,591,317 $ 22,164,313 $ 230,414 TIF YR 2 $ 1,531,280,688 $ 15,918,735 $ 53,659,802 $ 557,831 These forecasts can and will be TIF YR 3 $ 1,573,084,851 S 18,353,318 $ 95,483,785 $ 992,413 updated to reflect appropriate TIF YR 4 $ 1,624,818,904 $ 18,889,051 $ 146,998,018 $ 1,528,147 regularly P TIF YR 5 $ 1,673,357,472 $ 17,395,722 $ 195,738,586 $ 2,034,819 {Te rates. TIF YR6 $ 1,723,558,198 $ 17,917,594 $ 245,937,310 $ 2,558,690 market conditions and millage TIF YR 7 $ 1,775,284,942 $ 18,455,122 $ 297,844,058 $ 3,094,218 TIF YR 8 $ 1,828,522,890 S 19,008,775 $ 350,902,004 $ 3,647,872 In this case, the following assumptions TIF YR 9 $ 1,883,378,577 $ 19,579,039 $ 405,757,691 $ 4,218,135 TIF YR 10 S 1,939,879,934 S 20,166,410 $ 462,259,048 $ 4,805,506 have been made: TIF YR 11 $ 1,978,677,533 $ 20,569,738 $ 501,056,647 $ 5,208,835 TIF YR 12 $ 2,018,251,083 S 20,981,133 $ 540,630,197 5 5,620,229 TIF YR 13 $ 2,058,818,105 $ 21,400,755 $ 580,995,219 $ 6,039,852 ■ Year 1-5: the taxable values have TIF YR 14 S 2,099,786,427 $ 21,828,771 $ 822,167,541 $ 8,467,867 TIF YR 15 5 2,141,784,195 $ 22,285,348 $ 864,163,309 $ 8,904,443 been forecasted to grow from 1.0% TIF YR 16 $ 2,184,819,879 S 22,710,853 $ 708,998,993 $ 7,349,749 for the first five years of the CRA's TIF YR 17 $ 2,228,312,277 $ 23,164,886 $ 750,691,391 S 7,803,962 TIF YR 18 $ 2,272,878,522 $ 23,628,163 $ 795,257,636 $ 8,267.260 existence upto theyears 5-10 TIF YR 19 $ 2,318,336,093 $ 24,100,727 $ 840,715.207 S 8,739,823 TIF YR 20 $ 2,364,702,815 $ 24,582,741 $ 887,081,929 $ 9,221,838 growth rate TIF YR 21 $ 2,411,996,871 $ 25,074,396 $ 934,375,985 $ 9,713,492 TIF YR 22 $ 2,480,236,809 IS 25,575,884 $ 982,815,923 $ 10,214,980 TIF YR 23 $ 2,509,441,545 S 28,087,401 $ 1,031,820,859 $ 10,728,498 ■ Year 5-10: maintain a 3.0%growth TIF YR 24 $ 2,559,630,378 $ 28,808,149 $ 1,082,009,490 $ 11,248,248 11F YR 25 $ 2,810,822,983 $ 27,141,332 S 1,133,202,097 $ 11,780,429 rate as CRA initiatives create TIFYR26 S 2,663,039,443 $ 27,884,159 5 1,185,418,557 $ 12,323,256 _ TIF YR 27 S 2,716,300.232 $ 28,237,842 $ 1,238,679,346 $ 12,876,939 meaningful impacts on the area's TIF YR 28 $ 2,770,626.236 S 28,802,599 $ 1.293.005,350 $ 13,441,696 TIF YR 29 $ 2,826,038,761 $ 29,378,651 $ 1,348,417,875 S 14,017,748 property values TIF YR 30 $ 2,882,559,536 $ 29,966,224 $ 1,404,938,650 $ 14,605,321 Totals S 877,085,812 $20,800,784,593 $216,238,508 • Past Year 10: decline to a steady state that is set to be 2.0%. This differentiated growth rate structure approximates market-wide changes during the different phases of impacts from the CRA's lifespan. However, market conditions are difficult to forecast and hence projection of taxable values will likely include periods of property value equilibrium and possibly declines, but this projection baseline allows for a reasonable discussion of potential tax increment uses. 101 Page 2255 of 2284 The North Beach Community Redevelopment Agency Plan Figure 36:Projected Tax Increment Proceeds in the CRA District County C1/ - - CRA Source Contributions base Immanent _ Total *or Ytomw6t County Coy Total Bre yaw $ 6,895.909 8 $ 6595509 $ 8,164}88 1 - $ 85484.998 $ - $ - S - TIF YR 1 3 8895.909 $ 50,944 $ 8946,852 4 8,184,995 8 86,61 $ 8884681 $ 50,944 $ 61,613 $ 112,557 TIF YR 2 3 8595,909 $ 123,334 $ 7.019.243 6 6,484,985 8 166,910 $ 9.86x,886. 9 123,334 S 149,166 S 272,501 TfF YR 3 $ 8895,909 $ 219.419 $ 7.115,327 8 6A44,896 $ 267,816 6- *MUM $ 219,419 $ 265,375 $ 484.794 T1F YR 4 $ 6,883,908 S 337.867 S 7233.176 S 6.884,986 8 448,400 8 988816164 S 337581 $ 408.633 S 746,500 TIF YR 5 i.___._...__8,885,909 $ 449.090 $ 7.345.799 $ 8,464,906 S 577,217 6 9,086,186 S 449.890 S 544,119 S 994,009 117 YR 6 S __ 8895,909 S 565,274 S 7.461,183 $ 8464,906 S 126.267 $ 9,106,16$ S 565,274 5 683.669 S 1.248.943 11FYR7 $ 8,895,909 S 884.119 } 1.580,028 8 8464,065 S 8*7737 S 9541761 S 884,119 5 827,408 5 1,511,526 TIF YR 6 $_ 6,895,909_ S 806,530 $ 7,702,439 8 4464.688 $ 1,034,792 $ 0.4 411011, S 808,530 5 975,455 S 1,781,985 TIF YR 9 5 6 895 909 5 932,813 $ 7,828.522 $ 8.884885 8 1,196386 $ 9.88ii886 5 932,813 5 1.127.946 S 2,060,559 71F YR 10 $ 6 895 909 S 1,082.478 5 7,958,387 4 4764,898 4 1,969.179 t 9,111,171' $ 1,062,478 S 1,285,011 S 2,347,490 T1F YR 11 $ 6 895 909 $ 1,151,653 $ 8,047.562 8 8484,888 $ 1087.690 T, 9.94236- S 1,151,653 $ 1,392,883 5 2,544,516 117 Y1112 S 6895909 S 1,242,611 $ 8,138,519 1 8.4646616 $ 1.99401 MOWNS 1,242,611 5 1,502,872 S 2,745,482 117 YR 13 S 6,895,909 S 1,335,387 5 8,231,296 6 8.464,966 $ 1,71'$,S15r-.$_10.478:694 S 1,335,387 $ 1,615,080 $ 2,950,458 T1F YR 14 S 6.896,909 $ 1,430,020 8 8,325,929 $ 8,46695 8 1„694.740 6 10,288.788 S 1,430,020 S 1,729,533 $ 3,159,553 TIF YR 15 $ 6895,900 S 1,526.545 $ 8.422,454 $ 6.468416 $ 1,968,664 4 16,43!,676 S 1,526,545 $ 1,846,275 S 3,372,820 11F A:116 $ 6,895,909_S 1,625,001 5 8.520,910 $ 4688,088 8 2,064.104 650.1411114f 5 1.825,001 5 1,985,352 5 3,590,353 TIF YR 17 $ 6._895.909 S 1,725,425 S 8,621,334 4 4861 $ 2,05.766 $.--16f/o!r<.'41t S 1,725,425 $ 2,086.810 S 3,812.236 117 YR 18 $ 5,695,909 $ 1,827,859 $ 8,723.787 -4 4698886 $ 2.144174 4 '86.614166.5 1,827,859 $ 2,210,698 $ 4,038,556 TIF YR 19 $ 8,895,909 1 1,932240 S 8,828249 4 MOW 6 2,ataane 1 -11,16'16* S 1,932,340 S 2,337,063 S 4,269,404 TIF YR 20 $ 8.895,909 $ 2238,912 S 8,934921 6 $08119.1.58 2.09$59 4-ISMS* S 2,038,912 S 2,465,956 $ 4,504,868 TIF YR 21 $ 5 895,909 $ _2,147,515 S 9,043,524 1 164184.15 $ 2.78841,7' _•'.-.-T4, ,ss 5 2,147,815 5 2,597,426 S 4,745,041 TIF YR 22 $ 6 595 909 $ 2.258,492 S 9,154,401 4 IOWA* $ 4 w * $ 2,258,492 $ 2,731,526 5 4,990,018 117 YR 23 S 6595 909 5 7,371.585 $ 9,287,495 8 8.405886 $ 317 788: $4t ,765 $ 2,371,586 S 2,866,308 $ 5,239,894 117 YR 24 S 8,895,909 5 2.488,943 S 9,382,852 1 memo 8 3,166, a $ 1t ,766 5 2,486,943 5 3,007525 5 5,494,788 T1F YR 25 $ 6.895,909 $ 2,604,606 $ 9,500,515 S moms S 3.5551.M-.41.-11881 461E S 2.604,606 S 3,150,133 $ 5,754,740 T1F YR 26 5 6895,909 5 2,724623 $ 9520.532 4 aotaaalla S 3/40*-S stale:MI-S 2,724,523 5 3295,287 $ 6,019910 T1F YR 27 S 6,895,909 S 2547,040 $ 9,742.949 6 8-,491.119 $ simast S 16„111767 5 2,847540 S 3,443,344 5 8290,385 TIF YR 28 56,895,909.8 2.971,906 $ 9.857,815 4 10166965 $ 3,144.$, 4.1$J70.864 5 2971,906 5 3,594,382 S 8.586,268 TIF YR 29 5 5,695,909 $ 3.099,269 S 9,995,178 $- MAIMS */1/441911-E-12 $,416 S 3.099,269 5 3,748,401 S 8,847,670 TIF YR 30 6 895 909 S 3229.179 5 10.125,088 5-- goon 8 4;144966 $17694,667 $ 3,229.179 $ 3,905,520 $ 7,134,699 Totals nIMMEIMEEMI=EIMME=11$211.11811.019 8 61.38$.8.8 1314.988x6 S 47,809.481 S 57.823,030 S 105.832,511 Under these assumed growth assumptions,the CRA Area would see year one revenue of$112,000, but by the end of the TIF's life,annual revenues would be just over $7,000,000 in nominal terms. Because of the uncertainty involved in long-term projections, the figure below includes 20%error bars to better approximate the potential spread of actual revenues over time. The cumulative total of all CRA revenues over 30 years to the North Beach district would be $105 million in this projection. Figure 37,•Projected Nominal Tax Increment Proceeds in the CRA District-with 20%Error Bars $10,000,000 $9,000,000 $8,000,000 $7,000,000 $6,000,000 $5,000,000 $4,000,000 $3,000,000 $2,000,000 $1,000,000 $- Page 2256 of 2284 0 0 0 0 0 0 0 op0 0 so0 0CD 0 0CO 0 0 o 0 0 $ oin 0 0N. 0CO 0CO 0 0 NNNN N NNNNNNCVNNNNCV N N N N N NN NCV N N N N • The North Beach Community Redevelopment Agency Plan But future dollars are not valued the same as dollars today because of inflation. Without performing extensive re-forecasting of inflationary scenarios in the future and relying on reasonable estimates of future inflation that look much like the past, the Redevelopment Area's revenues can be estimated in present value terms so that the total shown in a given year is equal to today's dollars. Under this view of the CRA's 30-year revenues, the starting year revenues remain at just$112,000 but grow to nearly$4,000,000 per year by year 30. Total present value revenues equal$71 million in this projection. Figure 38:Projected Present Value Tax Increment Proceeds in the CRA District—with 20%Error Bars $6,000,000 $5,000,000 $4,000,000 $3,000,000 $2,000,000 $1,000,000 $- CV CO V U) fO N- CO 0) 0 .- N CO O V) CO N- CO 0) 0 N M O U) CO N- CO CA 0 N CO N N N N ON N O O p 0 M 0 0 0 0 0 0 0 CV CV CV S 0 U0 U) N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N In both of the earlier examples, the projected growth rates are based on a continuously growing economy and, hence increasing taxable values for properties within the TIF area. Since economic recessions occur periodically, an ever-growing upward TIF calculation likely overstates potential TIF revenues. 103 Page 2257 of 2284 The North Beach Community Redevelopment Agency Plan Next, a scenario is modeled that comprises a single recessionary event in the year 2024 resulting in property values declining by 10%, followed by a single year of zero property value growth as the economy recovers, then returns to the exact same set of growth rates as seen in the prior estimates. The resultant impacts on the CRA's potential annual revenues are substantial. After a small initial set of positive revenues,the district generates no real income until 2028, then grows to a maximum nominal value in year 30 of$4.9M and a cumulative total of$59M in income ($38M in present value) over the term (Figure 39). This single recessionary scenario reflects a 43%decline in nominal revenues from the always growing scenario presented in Figure 37. Figure 39:Projected Example Recession Tax Increment Proceeds in the CRA District-with 20%Error Bars $7,000,000 $6,000,000 $5,000,000 $4,000,000 $3,000,000 $2,000,000 $1,000,000 (7 V Uf) (O I" CO 0) 0 N C) R Io tD CO 0) 0 N (7 R In to N- co C)) O N NO NO N N N N O O M M M O O 8 O 8 8 O 8 O O 8 8 8 N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N 104 Page 2258 of 2284 The North Beach Community Redevelopment Agency Plan 10. Appendices Appendix 1: Resolution No. R-619-20 declared an Area in the City of Miami Beach to be Blighted and accepted the Finding of Necessity Study. 105 Page 2259 of 2284 ( The North Beach Community Redevelopment Agency Plan Appendix 2: City Commission Resolution No. 2021-31596 created the North Beach Community Redevelopment Area(NBCRA). 106 Page 2260 of 2284 • The North Beach Community Redevelopment Agency Plan Appendix 3: Resolution No. established the NBCRA Trust Fund. 107 Page 2261 of 2284 (. The North Beach Community Redevelopment Agency Plan Appendix 4: Resolution No. delegated certain powers conferred on the County Commission by the Act to the City and the NBCRA to implement the Plan for the Redevelopment Area. • 108 Page 2262 of 2284