Financial Advisory for Miami OCITT

Innovative funding is becoming the baseline for projects in today’s economic environment and IMG Rebel goes the extra mile to find new ways to make projects a reality.

Sourcing funds in an innovative manner
For this commission affiliated with Miami-Dade County overseeing the County’s transportation sales tax, IMG Rebel provided a variety of financial advisory services related to the development of a $10 billion transit and public works program that primarily funds Miami-Dade Transit (MDT). Our most recent tasks assessed innovative funding sources in the development of new transit corridors throughout the County, utilizing heavy rail transit, light rail transit (LRT), and bus rapid transit (BRT). These sources included sales taxes, advertising, tax increment financing, benefit assessment districts, and other forms of transit-oriented development.

Bringing value capture into the picture
Most recently, IMG Rebel has been carrying out two studies considering the use of value capture to fund new transit facilities. One such study is a fixed-route transit facility connecting downtown Miami with Miami Beach. IMG Rebel evaluated the commercial real estate within half a mile from proposed stations and the evaluated how a form of value capture mechanism — including a property benefit assessment or a property tax increment — could help fund a portion of this project. In addition, IMG Rebel evaluated how a parking surcharge could further supplement the project funding.

In another study, IMG Rebel is applying a similar methodology for a BRT/LRT project along Miami’s 27th Avenue. The study will take into account the different types of BRT stations that are planned along the route and the impact of development of underutilized commercial and industrial properties along the route of the proposed facility.

Pictures