City Commissioners have voted to change an agreement for the $1 billion Miami Worldcenter project that that sets lower local hiring goals.
The new agreement was to get two $1 million grants to restaurant owners in Overtown, give a raise to the agency head, and hundreds of thousands of dollars to nonprofits. A tax rebate deal with Swire Properties, the developers of Miami Worldcenter, is to reduce benefits for city residents, giving them less than expected.
The Worldcenter itself has a 765,000 square-foot shopping center, residential buildings, and hotel rooms that will be on a 27-acre plot in downtown Miami.
Exposition space and hotel rooms are in progress by another developer on the former site of the Miami Arena. This developer will fill about 30% of unskilled construction jobs with the local population, notably giving more opportunities to Overtown and other low-end ZIP codes. 10% of skilled jobs will be filled by locals as well.
The way this deal is structured, it will give fewer jobs than the goals set in the agreement in September.
Source: therealdeal.com
Photo credit: Miami Worldcenter - miamiworldcenter.com