GO Bond Projects Underway

Susan Askew
Susan Askew

GO Bond Projects Underway:

Voters approved $439m program last fall

City officials broke ground yesterday on two of the GO Bond projects eagerly awaited by Miami Beach residents – street pavement and sidewalk improvements. The sidewalk project represents $13 million of the $439 million General Obligation Bond approved by voters in November. An additional $30 million is allocated for the street pavement program.

(Photo Left to right: City Manager Jimmy Morales, Commissioners Ricky Arriola and Michael Góngora, Mayor Dan Gelber, Commissioners John Alemán, Joy Malakoff, and Mark Samuelian)
 
Twenty-five percent of the City sidewalks are slated to be replaced – those that are rated at or below marginal in the City’s Sidewalk Condition Index. Per a vote of the City Commission last month, the default color on those sidewalks will be “Miami Beach red.”

The street pavement project includes resurfacing of streets “and implementing pavement preservation strategies” according to the description of projects on the GO Bond website. Both kicked off at Meridian Avenue and 14th Place.

Construction work will start on Meridian Avenue, then continue into Normandy Isle and Allison Island North, taking place in phases with street and sidewalks in the worst condition schedule for restoration first. The Meridian Avenue phase is expected to be completed within six weeks.

Other GO Bond projects are also underway – those dubbed “quick wins” by the GO Bond Oversight Committee. They include installation of license plate readers in 26 strategic locations across the city and replacement of the outdated public safety radio system that is used by first responders.

Last month, the GO Bonds received strong ratings from Standard & Poors and Moody’s ratings agencies followed by a high level of investor interest. As a result, the City was able to reduce the yields, ultimately saving Miami Beach taxpayers $28 million as a result of lower payments from what was originally projected over the 30 year life of the bonds.
 
The GO Bond program contains 57 projects scheduled for completion over the next 10 to 12 years. Follow progress here

Photo courtesy Commissioner John Alemán’s office
 

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