Miami-Dade County Zoning Law: Mandatory Minimum Electric Vehicle Parking Ordinance Passed

electric vehicleThe Miami-Dade County Board of County Commissioners recently adopted an ordinance establishing off-street parking requirements for electric vehicles (EVs) which mandates minimum EV parking spaces in all new uses with limited exceptions provided below. The ordinance defines the terms pertaining to EV infrastructure, such as EV Supply Equipment (EVSE), EVSE Space, and EVSE-Ready Space and establishes penalties for misuse of parking spaces designated for EV charging.

The ordinance establishes two sets of criteria. One set to be used prior to January 1, 2022, and another to be used after January 1, 2022, when it is anticipated that most automakers will have switched to predominantly EV production lines thus the number of EVs is expected to increase considerably. In particular, the ordinance recognizes that automakers are investing over $90 billion in the development of electric and hybrid models and that General Motors specifically announced an all-electric path to zero emissions with the introduction of at least 20 new EVs to launch by 2023. Continue Reading

Coral Gables Zoning Law: Modified Open Space Zoning Code Creates New Design Challenges

Coral Gables Zoning Law

The City of Coral Gables’ zoning code landscape and open space requirements were recently amended as of May 14, 2019. The Coral Gables’ zoning code now requires landscape open space to be provided at the ground level and to be “open to the sky.” This update will have a significant impact on real estate development proposals in areas such as the Coral Gables Central Business District (CBD), downtown Coral Gables in general, and North Ponce de Leon corridor.

Of critical importance, the ordinance provides that any submittals which have not received final Board of Architects approval must comply with these amendments; thus, potentially delaying approvals. This will create a new challenge to developers who may be required to redesign projects already proposed in order to comply with the new requirements. Continue Reading

Energy, Power, and the P3 Delivery Model

energy infrastructureWe previously wrote about whether and how public-private partnerships (P3s) could be the answer to U.S. infrastructure issues and the many ways in which the P3 delivery model provides unique value. While P3s are used in a variety of sectors of infrastructure development, energy and power projects particularly lend themselves to the P3 delivery model. Technology is the main driver in any energy project, whether it is power plants and natural gas facilities, implementation of wind and solar power, or the overhaul of entire utility systems. Furthermore, because of the importance of renewable, efficient, and sustainable energy, this technology is constantly changing and improving. Continue Reading

Florida Zoning Appeals Law: Miami-Dade County Special Exception Denial Quashed

PublixIn the recent decision of Publix Supermarkets, Inc., v. Miami-Dade County, Case No. 17-082 AP, the 11th Judicial Circuit Court in and for Miami-Dade County held: (i) the applicant successfully carried its burden in a quasi-judicial hearing before the zoning appeals board of Miami-Dade County (the “County”); and, (ii) that the opposition failed to establish the required “competent, substantial evidence” to deny the application. Thus, the circuit court granted the applicant’s Petition for Writ of Certiorari, quashed the resolution that denied the application, and remanded the case to the zoning appeals board. Continue Reading

National P3 Update: Water and Sewer Infrastructure

Water and Sewer P3We recently provided an update on the status of higher-education and social-infrastructure projects being delivered under the P3 model. This update focuses on water and sewer projects—although water and sewer infrastructure is rarely given much attention, its proper operation is obviously critical to our well being. Unfortunately, many of our nation’s water and sewer systems are the victims of deferred maintenance (a problem that P3s can address), and the current situation is dire. As discussed at last week’s USP3 conference in New York, public water systems in the United States require $335 billion in upgrades over the next 20 years, and the public sewer systems require another $298 billion in upgrades. Fortunately, several jurisdictions are considering P3s to address these needed projects. Water-and-sewer P3s currently in the procurement pipeline include: Continue Reading

P3 Trends: Rise in Private Placement Financing of Mid-Size P3s

P3 FinanceIn the last twelve months, four national public-private partnerships (“P3s”) have been financed in the U.S. private placement market, accounting for over $800 million in project cost financing. While there has been a shift towards private placement investors as a P3 financing source, the market activity in the last year has confirmed investor appetite in P3s, particularly those with availability payment-based compensation structures.

Private placements are securities offerings to limited numbers of sophisticated investors. These offerings are exempt from registration under the U.S. Securities Act of 1933. Conservative, long-term investors, such as insurance companies and pension funds, tend to dominate the U.S. market. While private activity bonds and TIFIA loans present cheaper financing options, they are not available as financing sources across certain asset classes, including social infrastructure and smart city initiatives. Many features of the traditional private placement market align with financing features of the P3 market. For example, private placement investors favor long-term debt, with tenors of 30 years or more depending on the project, far exceeding the short tenors available in the bank finance market. In addition, as private placements in the P3 context are typically closed with a small number of investors, the project benefits from more flexibility in financing terms and, if needed, a simplified process for amendments and waivers over the life of the project, as compared to similarly-tenored bond financings. Finally, because of their long tenors and fixed credit spreads, private placements minimize project refinancing risk. Continue Reading

National P3 Update: Higher Education and Social Infrastructure

social infrastructureWe have written about how the public-private partnership (P3) project delivery model can and should be used to meet infrastructure needs. Because P3s are constantly being considered and tested all over the country, we wanted to provide an update on the status of these projects so that interested stakeholders can easily keep an eye on the market overall. Our first installment of the National P3 Update will focus on higher education and social infrastructure P3s. We will issue more updates on these projects, as well as updates on projects in other industry sectors. Continue Reading

Miami-Dade County Zoning: Administrative Requirements of Workforce Housing Bonuses

Workforce Housing Development ProgramIn 2007, the Miami-Dade County Board of County Commissioners adopted Ordinance No. 07-05, which created a voluntary Workforce Housing Development Program in order to encourage development of land available for residential use targeted towards the workforce income group. The program allows real estate developers to obtain density and intensity development bonuses by providing either workforce housing units (WHUs) or a monetary contribution to the Miami-Dade County Affordable Housing Trust Fund. In 2016, the Miami-Dade County Board of County Commissioners adopted Ordinance No. 16-138, which updated the Workforce Housing Development Program by amending certain provisions of the County’s existing voluntary program by enhancing the bonuses and incentives available under the program. Continue Reading

Are P3s the Answer to U.S. Infrastructure Issues?

infrastructureAfter last month’s meeting with Democratic leaders in the House and Senate, President Trump’s $1 trillion infrastructure plan has become $2 trillion. As the legislature continues to digest the plan, many are beginning to raise questions about the plan’s viability. The fundamental issue is a predictable one–$2 trillion is a big number, and legislators are having trouble deciding how to pay for it.  Continue Reading

South Florida Opportunity Zone Forum

Opportunity ZonesOn June 5th, ULI SE Florida/Caribbean and Bilzin Sumberg hosted the South Florida Opportunity Zone Forum. Attendees gained valuable insights into the forces shaping our industry and were the first to hear about the results from our recent South Florida Opportunity Zone survey while networking with the people making the most important opportunity zone deals.

The Forum touched on topics including: strategies to unlock transformative economic potential and create lasting change in South Florida’s blighted neighborhoods; IRS and Florida’s legislation as it pertains to the governance of Opportunity Zones and related investment issues; the greatest benefits and obstacles for investing in an Opportunity Zone; and which asset classes are most ripe for development on OZ legislation. Continue Reading

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