| | | | | | | |  | New Business and Commission Requests - R9 N
COMMISSION MEMORANDUM |
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| | | | | | | | | TO: | Honorable Mayor and Members of the City Commission | | | FROM: | Commissioner Ricky Arriola | | | DATE: | December 11, 2019 | | | |
| | SUBJECT: | DISCUSS ISSUING A RFLI TO PROMOTE CLASS A OFFICE SPACE NORTH OF LINCOLN ROAD. |
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| | | | | | | | BACKGROUND/HISTORY
| The Tax Cuts and Jobs Act of 2017 placed a limit on the State and Local Tax deduction. As a result, many companies with professional workforces living in already high-income tax states like New York and California, have decided or are planning to move elsewhere. Miami Beach has an opportunity to capitalize on the human capital flight from high tax states by turning its underutilized assets into Class A office space with the right partner(s).
I ask that the City Manager prepare a Request for Letters of Interest, to be issued as soon as possible, that would allow for prospective partner(s) to give their ideas on how we can build Class A office space on the three parking lots North of Lincoln Road. These lots were offered up in a RFP back in 2012. Although the City received four significant bids - none were ultimately selected. It is time for Miami Beach to place emphasis on the work variable of the live, work, play equation. |
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| | | | | | | | | Is this a Resident Right to Know item? | | Does this item utilize G.O. Bond Funds? | | | Yes | | No | |
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| | | | | | | | Legislative Tracking
Commissioner Ricky Arriola |
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