MIAMI – More than 50% of the voters stood against Miami’s Virginia Key referendum to hand over a redevelopment contract to Biscayne Marine Partners LLC.
If voters would have agreed, Aabad Melwani would have been able to make improvements to the Rickenbacker Marina by modernizing boat slips to use less space.
The plan also included a new marine supplies store, two restaurants, more public green space, and a bayfront promenade.
The plan for the Rickenbacker Marina doesn’t include retail space. Competing developers are vying for a contract with the city.
There is a separate Marine Stadium project proposal that the city is reviewing.
The ballot question: Shall Miami’s Charter be amended authorizing the City to waive competitive bidding, negotiate, execute a 75-year waterfront lease (marinas, restaurants, marine-related uses) of approximately 27 acres (generally 3301, 3307, 3605, 3501 Rickenbacker Causeway) on the west side of Virginia Key with Biscayne Marine Partners LLC, for minimum: $115,000,000 tenant capital investment; $2,750,000 annual rent (10% for Virginia Key Beach Park Trust) or fair market value, and 6% gross boat storage, fuel revenues; 4% gross revenues from other sources?
Related story: Miami voters to decide future of Rickenbacker Marina
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