The Real Deal Miami

Downtown Development Authority tries to clean house

September 02, 2008 01:46PM

The search continues for a new director of the Miami Downtown Development Authority, even as its temporary leadership keeps trying to bring big businesses downtown. It also hopes to make the central core more pedestrian friendly. It’s having trouble keeping expenses down even as its allocation is shrinking. Board member Jay Solowsky recently conducted a study on the feasibility of relocating and determined the agency’s not-so-favorable lease terms has it chained to 6,447 square feet at Wachovia Financial Center, 200 South Biscayne Blvd., where it pays $21,000 per month in rent and other expenses. Some city officials wanted the agency to move into a street-level location. For 2009, the agency is receiving $4.8 million in taxes compared to last year’s $5.4 million, according to tax collection documents.