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LTC 205-2024 Motion of the 41st Stree Business Improvement DistrictMIAMI BEACH OFFICE OF THE CITY CLERK LTC# 205-2024 RECEIVED MAY 24 2024 CITY OF MIAMI BEACH OFFICE O THE CITY CLERK LETTER TO COMMISSION TO: FROM: DATE: Honorable Mayor Steven Meiner and Members of the City Commission Rafael E. Granado, City Clerk ;,d May 23, 2024 SUBJECT: Motion of the 41°' Street Business Improvement District The purpose of this Letter to Commission ("LTC") is to advise the Mayor and Commissioners that on May 17, 2024, the Board of Directors of the 41° Street Business Improvement District (41° Street BID) unanimously passed a motion approving key elements of the 41 st Street Bl D's Vision Plan (see attachment). The following 41 Street BID Board Members were present: • Ira Giller (Chair) • Alex Fryd • Seth Gadinsky • Ricki London • Andrew Resnick • Orli Teitelbaum • Judy Schottenstein Should you have any questions, please contact Heather Shaw, Interim Director, Economic Development at HeatherShaw@miamibeachfl.goy or Amy Mehu, Executive Director of the 41° Street BID at Bidon41 st@gmail.com. Attachment sT. , N t 0 - • rt1 • Pe> o / o' Sr Unveiling the Vision for 41st Street We are pleased to announce that the 41st Street Business Improvement District Vision Plan was unanimously approved during Friday's, May 17th. This below is a summary of key actions outlined in the plan, aimed at revitalizing the corridor into a vibrant and accessible destination. Key Actions in the Vision Plan: 1. Revitalize Commercial and Enhance Residential by: 1. Introducing upscale restaurants and high-end boutiques. 2. Developing high-end and workforce apartments. 3. Establishing a major grocery store and wellness facilities. 4. Building a boutique hotel to accommodate hospital visitors and office professionals. 5. Marketing and activating vacant properties 2. Maintain On-Street Parking to ensure accessibility. 3. Develop Centralized Valet Service at multiple key points along 41 st Street, to improve traffic flow, enhance the customer experience, and support businesses. 4. lncentivize Rear Parking to reduce main thoroughfare congestion by developing the backsides of buildings to serve as secondary, attractive and functional fronts, encouraging visitors to use rear parking. 5. Enhance Building Fa~ades to improve visual appeal and property value. Implementation Strategies: 1. Develop a zoning overlay, in coordination with city officials, for the district that addresses outdated parking requirements and supports increased building heights to respond to current market demands and conditions. 2. Support issuance of RFPs for city-owned parking lots behind certain properties along 41 st Street. 3. lncentivize property owners to combine smaller lots. 4. Develop a pop-up program for vacant properties. 5. Create and utilize comprehensive marketing materials for 41 st Street retail establishments, offices and residential buildings. 6. Engage stakeholders and align development efforts with the community's sentiments and economic realities. Funding Opportunities: 1. Develop, in coordination with city officials, incentive and subsidy programs for lot aggregation and fa~ade improvements. 2. Collaborate with city officials for urban development funds. 3. Apply for grants focused on urban transformation and economic development. Overcoming Challenges: 1. Work with city officials to streamline permitting processes and requirements. 2. Maintain open communication with all stakeholders. Measuring Success: 1. Assess economic, social, and environmental impacts annually. 2. Gather stakeholder feedback through surveys and public forums. These actions aim to tackle the challenges of a growing population and increased traffic by transforming 41 st Street into a vibrant corridor that meets the immediate needs of residents and businesses. The envisioned future for 41 st Street allows residents, visitors, and office tenants to move with ease and comfort. The BID's goal is to rejuvenate the district by enhancing mobility, safety, and sense of community, while also attracting visitors and investors from across the region. please note: The complete document is currently under review for semantic refinements to ensure clarity and precision. It will be made available once finalized.* We look forward to the positive changes this Vision Plan will bring to the 41st Street community and the City of Miami Beach. -The 41 st Business Improvement District For additional information on the BID or the Vision Plan, email bidon41st@gmail.com