Week of October 20, 2011
FDOT
Work Program,
Public Hearing
SOLID RATINGS: Fitch Ratings, a global credit rating agency, has upgraded the ratings on three series of Miami-Dade County Department of Solid Waste Management revenue bonds. The agency upgraded $73.5 million series 2005, $40.4 million series 2001 and $30.8 million series 1998 solid waste revenue bonds from A to A+. According to the report, the upgrade was a result of "the county solid waste system's strong and overall consistent financial position" and the fact that "management was diligent in its efforts to reduce operating expenditures in fiscal 2010." Fitch rates bonds at AAA, AA, A, BBB, BB, B, CCC, CC or C. Each rating receives a positive or negative outlook. A rating at or above the BBB level is considered investment grade, while anything below BBB is considered non-investment grade. AIRING CONTRACTS: Repairs may or may not continue at Miami International Airport. The county commission deferred Tuesday an item directing Mayor Carlos Gimenez to extend a miscellaneous construction contract for repairs there with Mike Gomez Construction Consulting Inc. through Dec. 1. According to county documents, while Miami-Dade's ability to issue work expired Sept. 20, the contractor is moving forward with previous orders. The county is to award a replacement contract this year. GARAGE FUNDS: Miami commissioners are to vote Nov. 17 whether to add $2.5 million to the $73 million previously approved contract price for the Marlins stadium parking. The extra funds would go toward structural deficiencies in the four garages caused by design errors. The city is to be reimbursed for those funds by designer Timothy Haahs & Associates' professional liability insurance. Commissioners deferred voting on the item last week. Albert Sosa, director of capital improvements, said the deferral wouldn't affect the ongoing garage construction. MELREESE MANAGEMENT: Miami commissioners last week postponed voting on whether to waive sealed-bidding requirements for selecting a manager and operator of the Melreese Golf Course until Nov. 17. The waiver would grant an extension to DeLucca Enterprises, the current manager, to September 2021, with the option to renew to through September 2026. A minimum of four commissioners must approve the deal to avoid the requirement of a competitive bid. 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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