In backing the economic development group, Miami-Dade County Manager Steve Shiver also is reaffirming an administrative order issued in 1998 that terminated New Century Development Corp. Inc. as the site's original master developer.
Members of the Miami-Dade County Commission decide next Tuesday whether to approve the economic development group as the site's master developer. If the commission approves the deal, the economic development group would have sole authority to lease or sell parcels within the industrial park under the supervision of the county Office of Community and Economic Development.
"We're looking for operating companies that need acreage," Bryan K. Finnie, the trust's president and chief executive officer, tells GlobeSt.com. "When we sit down to negotiate, the question is how much land the company needs, how many people it will employ and if the company is acceptable from an environmental standpoint for the area."
It is too soon to speculate on potential pricing strategies, Finnie says. "Once we get a snapshot of those three aspects, then the next step is a financial discussion," he says.
However, the economic development group is proposing a novel approach to financing development at the site.
GlobeSt.com disclosed in an earlier report the group's volunteer board of directors has approved the formation of a for-profit financing subsidiary to facilitate investment and development in the industrial center at NW 79th Street and NW 23rd Avenue.
"In order to get private investment into our communities, we have to be flexible," Finnie says. "What we're trying to do is induce you to operate in our community and employ our people."
Construction could start as early as this summer, pending final completion of environmental remediation work and replating, according a memo Shiver provided to the commissioners.
Substantial improvements in water, sewer, drainage and road infrastructure is already complete, though the county recommends an additional investment of about $1.5 million in locally disbursed federal tax dollars.
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