Coversheet

Committee Assignments - C4 E

COMMISSION MEMORANDUM

TO:	Honorable Mayor and Members of the City Commission
FROM:	Alina T. Hudak, City Manager
DATE:	May 12, 2021

SUBJECT:	REFERRAL TO THE MAY 21, 2021 FINANCE AND ECONOMIC RESILIENCY COMMITTEE TO DISCUSS FINANCIAL INCENTIVES TO ENABLE CITY EMPLOYEES TO ESTABLISH RESIDENCY IN THE CITY.

RECOMMENDATION

The Administration recommends approving a referral to the May 21, 2021 Finance and Economic Resiliency Committee to discuss implementing a pilot project to provide financial incentives for City employees to live in the City.

ANALYSIS

It is recognized that the cost of housing is significantly higher in Miami Beach than in other municipalities in South Florida.

This suggested pilot would be funded at $300,000 which would allow up to 100 employees to receive $250 per month toward their housing expense for one year.

Incentives enabling employees to live in the same community where they work would provide several benefits to the City:

• Economic Development- City salaries would be largely spent in the local economy.

• Employees would be more vested in the community and would have a better comprehension of the experiences of residents.

• Staff would be readily available during emergencies.

Employees would also benefit by having a very short commute which would save them money and promote work/life balance. A 2017 study by the Robert Half consulting company found that 25% of employees nationally quit their jobs due to a difficult commute.

SUPPORTING SURVEY DATA

N/A

CONCLUSION

This pilot program would only be a temporary measure while we continue our efforts to create additional affordable workforce housing.

Applicable Area

Citywide

Is this a "Residents Right to Know" item, pursuant to City Code Section 2-14?		Does this item utilize G.O. Bond Funds?
No		No

Legislative Tracking
Human Resources

Sponsor
Commissioner Micky Steinberg