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City of Miami Beach, 1700 Convention Center Drive, Miami Beach, Florida 33139, www.miamibeachfl.gov
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| | | | | | | | | | Item 4.
COMMITTEE MEMORANDUM | | | |
| | | | | | | | TO: Land Use and Sustainability Committee
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| FROM: Rickelle Williams, Interim City Manager
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| DATE: May 1, 2024
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| | | | | | | | | TITLE: | DISCUSS CREATING ECONOMIC AND ZONING INCENTIVES TO ENCOURAGE THE CONVERSION OF EXISTING OFFICE BUILDINGS TO RESIDENTIAL, WHICH IDEALLY EXPLORE NEW INCENTIVES (ECONOMIC OR OTHER) BEING USED IN OTHER STATES, RATHER THAN RELYING ON EXISTING OPTIONS WHICH WE MIGHT NOT WANT TO ENCOURAGE, SUCH AS FLOOR AREA RATIO (FAR) AND PARKING INCENTIVES, REDUCTIONS TO THE MOBILITY FEE, IN ORDER TO INCREASE THE SUPPLY OF AVAILABLE HOUSING IN MIAMI BEACH |
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| | | | | | | | HISTORY:
| | On March 13, 2024, at the request of Commissioner Tanya K. Bhatt and Commissioner Joseph Magazine, the Mayor and City Commission referred a discussion regarding incentives for the conversion of existing office buildings to residential, pursuant to item R9 E, to the Land Use and Sustainability Committee (LUSC). As noted in the attached discussion memo from the March 13, 2024 City Commission meeting, the sponsor would like the LUSC to discuss meaningful zoning and tax or other financial incentives (to the extent permitted under Florida law) to encourage the conversion of existing office buildings to residential development. |
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| | | | | | | | ANALYSIS:
| Attached are relevant articles provided by the sponsor as part of the referral, pertaining to the conversion of existing office uses to residential development. Based upon the input of the LUSC, the Administration can further research potential options for these types of conversions, including available financial and tax incentives, as well as grants.
As offices are only permitted in commercial districts, the conversion to residential would be permitted. In terms of districts to encourage such conversions, the medium to higher intensity districts, such as CD-2, CD-3 and CPS-2 would be preferred options, as these areas have large office buildings and are generally located within proximity to transit. In particular, the areas along the 5th Street corridor, 41st Street corridor and the area between Lincoln Lane North and 17th Street, would be ideal.
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| | | | | | | | CONCLUSION:
| | The Administration recommends that the Land Use and Sustainability Committee discuss and continue the item to the July 2024 LUSC meeting. |
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| | | | | | | | | Is this a "Residents Right to Know" item, pursuant to City Code Section 2-14? | | Does this item utilize G.O. Bond Funds? | | | Yes | | No | |
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