For nearly a decade, Miami Beach officials discussed the need to expand and upgrade the city’s cavernous convention center to attract more businesses. But they could never figure out how to pay for it.
The city decided last year to partner with a developer to redevelop a publicly owned 52-acre site. After a bidding process, the city selected two finalists. On July 8, the City Commission plans to pick one for the $1.2 billion redevelopment job. The city would issue bonds to pay for half of the project. Its share of the money would go to expand and renovate the convention center, build public parking and install landscaping. The bonds would be paid off with a 1 percent resort tax, revenue from the convention center and the garage.
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