HomeMy WebLinkAbout2006-26178 Reso
RESOLUTION NO. 2006-26178
A RESOLUTION OF THE MA VOR AND CITY
COMMISSION OF THE CITY OF MIAMI BEACH,
FLORIDA, URGING THE FLORIDA LEGISLATURE
TO PASS LEGISLATION PROVIDING FOR AN AD
VALOREM TAX DEFERRAL FOR AFFORDABLE
RESIDENTIAL RENTAL PROPERTIES; FURTHER
REQUESTING THAT INCOMING SPEAKER OF
THE HOUSE MARCO RUBIO INCLUDE SAID
DEFERRAL IN HIS "100 IDEAS FOR FLORIDA'S
FUTURE" INITIATIVE.
WHEREAS, a goal of the City of Miami Beach is to maintain a supply of
housing that is affordable to the City's diverse population and workforce; and
WHEREAS, although apartment rental rates continue to rise, they have
not risen at the same rate as condominium and single-family home sales prices;
and
WHEREAS, multifamily apartment buildings are the most affordable type
of housing that is available to both the City's low/moderate income population
and the City's workforce; and
WHEREAS, multifamily apartment buildings are facing increasing
pressure to convert to condominiums due to escalating costs such as property
taxes and insurance; and
WHEREAS, the number of rental apartments in Miami Beach will decline
by over 20% between 2000 and 2009; and
WHEREAS, the addition of affordable workforce housing in Miami Beach
is difficult due to the lack of available land, high real estate prices, and the
already high residential density of the City; and
WHEREAS, the supply of affordable rental units will continue to decline as
affordability periods expire and the cost to replace those affordable units grows;
and
WHEREAS, during the 2005 regular session of the Florida Legislature, the
Legislature approved a bill that granted an ad valorem tax deferral for
recreational and commercial working waterfront properties; and
WHEREAS, a deferral of the taxes due on property assessment increases
above three percent could relieve some of the financial pressure from owners of
multifamily rental buildings, reducing the potential loss of affordable rental units;
and
WHEREAS, the deferred taxes could be held by the taxing jurisdiction as
a lien, which becomes due upon sale or transfer of the property, or when the
property ceases to be used as affordable rental housing; and
WHEREAS, the City will work with the Legislature to determine criteria for
participation in the program, including the determination of rent and income
thresholds, as well as property maintenance standards; and
WHEREAS, in an effort to develop a vision for Florida's future, incoming
Speaker of the House Marco Rubio has urged the people of Florida to submit
"100 Ideas for Florida's Future" for consideration by the Florida Legislature.
NOW, THEREFORE, BE IT DULV RESOLVED BV THE MAVOR AND
CITY COMMISSION OF THE CITY OF MIAMI BEACH, FLORIDA, that the
Mayor and City Commission urge the Florida Legislature to pass legislation
providing an ad valorem tax deferral program for affordable residential rental
properties, and further requesting that Incoming Speaker of the House Marco
Rubio include this deferral program in his "100 Ideas for Florida's Future."
PASSED and ADOPTED this 26th day of A ril 2
,
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CITY CLERK
APPROVED AS TO
FORM LANGUAGE
FO ECUTION
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MIAMI BEACH
OFFICE OF THE MAYOR AND COMMISSION
MEMORANDUM
TO:
Jorge M. Gonzalez, 1i~Manager
David Dermer, MayO~
April 25, 2006
FROM:
DATE:
SUBJECT: Agenda Item
Please place the attached resolution on the April 26, 2006 Special
Commission agenda for discussion and action.
If you have any questions, please feel free to contact my office.
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We ore cOlTlmiffed to providing exceJlent public .service ond sorely to oil who live, work, and ploy in our
Agenda Item
Date
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