The Real Deal Miami

Commercial property owners to raise funds to revitalize Miami’s Wynwood area

Levy and special assessment projected to generate $700K in first year

June 13, 2013 03:00PM

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Miller Machinery & Supply Co. in Wynwood

Commercial property owners in Miami’s emerging Wynwood neighborhood have formed a fundraising initiative to keep the streets clean and safe, the Miami Herald reported.

Business and parcel owners voted by a 65-percent margin last week to form the Wynwood Business Improvement District, allowing for the levy and collection of a special assessment for the next decade within the arts community. It is expected to generate about $700,000 in the first year, the Herald said.

The Miami City Commission is scheduled to accept the election results at a meeting tonight, the newspaper said.

The Wynwood BID covers a 47-block stretch from 20th to 29th Streets and from the railroad tracks near North Miami Avenue to Northwest Fifth Avenue.

Last June, the Wynwood area received a $140,000 ArtPlace grant to go toward creating a Business Improvement District, as previously reported. [Miami Herald]Mark Maurer

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