HomeMy WebLinkAbout2011-191-1584 - Comprehensive Economic Development Strategy City of Miami Gardens Agenda Cover Memo Council Meeting Date: November 9, 2011 Item Type: (Enter X in box) Resolution Ordinance Other X Fiscal Impact: (Enter X in box) Y es No Ordinance Reading: (Enter X in box) 1 st Reading 2 nd Reading X Public Hearing: (Enter X in box) Yes No Yes No X Funding Source: (Enter Fund & Dept)Advertising Requirement: (Enter X in box) Yes No Contract/P.O. Required: (Enter X in box) Ye s N o RFP/RFQ/Bid #: X Strategic Plan Related (Enter X in box) Ye s N o Strategic Plan Priority Area: Enhance Organizational Bus. & Economic Dev Public Safety Quality of Education Qual. of Life & City Image Communication Strategic Plan Obj./Strategy: (list the specific objective/strategy this item will address) 2.1 Develop a retail economic development strategy plan and document. X Sponsor Name Dr. Danny Crew, City Manager Department: Community Development Short Title: A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF MIAMI GARDENS, FLORIDA, APPROVING THE COMPREHENSIVE ECONOMIC DEVELOPMENT STRATEGY, ATTACHED HERETO AS EXHIBIT “A”; PROVIDING FOR THE ADOPTION OF REPRESENTATIONS; PROVIDING FOR AN EFFECTIVE DATE. Staff Summary: Background Information In the current 5 ‐year Strategic Plan document, one of the City’s goals is to enhance the retail and service mix. A key element in accomplishing this goal is the development of an economic development strategy document. This comprehensive document will serve to outline the City’s geographic and economic assets, and intends to be a catalyst to spark interest by retail investors to bring the desired target industries and businesses to the City’s established economic corridors. ITEM L-1) RESOLUTION Comprehensive Economic Development Strategy
1515 NW 167 Street, Building 5 Suite 200 Miami Gardens, Florida 33169 Several months ago City Staff engaged the services of the FIU Metropolitan Center to undertake the desired task of preparing a Comprehensive Economic Development Strategy document (CEDS). The Florida International University Metropolitan Center is an applied social science research and training institute focusing on economic development, planning, performance improvement and policy solutions to public, private and non ‐profit organizations in South Florida. Current Situation The assigned project manager from the Metropolitan Center is Dr. Edward Murray (Ned), Ph.D., AICP. Dr. Murray is the Associate Director of the Metropolitan Center at Florida International University in Miami. Dr. Murray is a leading expert on economic and housing market issues in South Florida. Dr. Murray has authored and presented numerous papers on economic development, affordable housing and urban planning, including articles published in Economic Development Quarterly (EDQ), the Economic Development Journal, the Journal of Public Affairs Education and the Council for Urban Economic Development’s Commentary. The preparation of the CEDS for the City included extensive analysis of pertinent economic data, review of all related economic development studies and documents previously done by the City, as well as personal interviews with key stakeholders, including several City Staff. A review of preliminary findings with stakeholders was also included in this process. That public meeting was held on June 30, 2011. A follow ‐up meeting was also scheduled at Florida Memorial University, but it was cancelled due to dismally low attendance commitment. The intent of the CEDS is that it will serve as a means of formal communication to the business community in hopes to spark interest in retail and commercial investment in the city. The assets highlighted in the document, the City’s leading industry sectors ‐Retail Trade with approximately $1.6 billion in sales, followed by Manufacturing with $547 million and Health Care and Social Assistance with $119 million in annual sales activity, provide the needed perspective that is often considered by the business community when making location decisions. City Staff seeks Council’s approval of the CEDS document. Once approved, the document will reside as a stand ‐alone document and used to attract the desired retail and economic mix. In the future, City Staff will seek Council approval in amending the Comprehensive Development Master Plan and include the CEDS as a chapter in that document. Proposed Action: That City Council approve the attached resolution. Attachment: Attachment A ‐ Comprehensive Economic Development Strategy