The Real Deal Miami

FIU developers ask Miami for $83M bond

If approved, funds would be awarded without taxes

May 09, 2014 03:00PM

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Florida International University’s Biscayne Bay Campus.

Florida International University’s Biscayne Bay Campus.

National Campus and Community Development and Biscayne Properties are asking Miami-Dade County for an $83 million tax-free bond.

The money would be used to build a student-housing complex on Florida International University’s Biscayne Bay Campus, according to the South Florida Business Journal.

The developers have thus far agreed to lease a 4.75-acre site from FIU and build a nine-story, 290,000-square-foot complex with housing for 615 students.

Commissioners will vote on whether to fund the project through the county’s industrial development authority bonds at a May 13 meeting of the Miami-Dade County Commission’s Finance Committee. [SFBJ]Christopher Cameron

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