Week of December 30, 2010
FDOT
Work Program,
Public Hearing
REFINANCING WINDFALL: North Miami Beach plans to save $960,000 as 20-year bonds are issued via the Florida Municipal Loan Council the week of Jan. 10 to refinance more than $16 million of the city's debt. Deutsche Bank is trustee in the deal. Rating agency Fitch cites stronger city reserves balanced against property value declines of 14% and 20% in the past two years and a forecast decline of 10% to 12% in the year ahead. The five-square-mile city of 41,247 residents is about 15% commercial properties and reported 14.6% unemployment as of September. HOTEL DEMAND UP: Greater Miami and the Beaches hotels ranked in the top five in November for average daily room rate, revenue per room and hotel occupancy among US Smith Travel Research's top 25 markets, according to the Greater Miami Convention & Visitors Bureau. Miami's $133.60 average daily room rate, a climb of 5.3% year over year, ranked fifth in the US. New York's average of $272.42 ranked first. Revenue per available room in Miami ranked third, topped by New York and Oahu Island. The $96.54 revenue climbed 14.3% compared to November 2009. Miami's 72.3% hotel occupancy rose 8.6% year over year and reached third place in the US, with New York and Oahu Island in the top two spots. CHANGING HANDS: Forty-seven business sales were closed in Miami-Dade during the third quarter, according to a report buy BizBuySell.com. The median sale price was $115,490, about 87% of the asking average price. Those businesses had average revenue of $275,000 and an average cash flow of $100,000. The number of closed sales was up from the 33, recorded at the end of the second quarter. AG SIGNS PASS: County commissioners have adopted legislation that allows additional signage for businesses in South Dade's agricultural zone. "This is just a way to try to help agriculture and agritourism," said commission Chairman Dennis C. Moss. The measure enables businesses to have two permit-authorized frontage signs and up to five additional 6-square-foot signs. Complete coverage, including The Insider and all information columns, is available in the e-edition. Sign up at www.miamitodaynews.com |
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