NEW BUSINESS  8.

COMMITTEE MEMORANDUM

HISTORY:

This item was referred to the Finance and Citywide Projects Committee from the April 11, 2018 City Commission meeting. 

There are many vacant storefronts throughout the City of Miami Beach,  primarily within major commercial corridors that have been dormant for an extended period of time. Some landlords are not leasing their spaces out in hopes of finding a tenant that will pay the highest rent. Vacant storefronts create inactive streets that can lead to increased areas of blight and safety concerns. 

CONCLUSION:

Administration seeks direction from the Finance and Citywide Projects Committee on exploring new ways in which the City can better catalog empty storefronts and create a financial incentive and/or disincentive program that would encourage landlords to keep their properties rented and active.