Miami Transit Corridors Value Capture
The Challenge
For the sales tax oversight commission affiliated with Miami-Dade County, Rebel has provided critical financial analysis for the development of a $4B transit and public works program, including for tax-increment financing (TIF).
The Approach
Rebel has assessed value capture approaches, including TIF, benefit assessment districts, and parking surcharges to realize the proposed $4B “SMART Plan” along corridors with BRT and light, heavy, and commuter rail. Rebel evaluated the commercial real estate within ½ a mile of proposed stations and how some value capture mechanisms could help fund a portion of these projects. Rebel’s work supported the Miami Board of County Commissioners legislation establish TIF districts along many of these corridors, funding 5-10% of the program and continues to support policy considerations.
Impact
The corridor-wide TIF districts offer an additional funding source for Miami-Dade County’s extensive transit program.
