Media Contact: Eunicia Baker, MPA - Senior Public Information Officer
City of North Miami
305-893.6511 Ext. 12160
ebaker@northmiamifl.gov

CITY CLOSES ON LEASE WITH OLETA PARTNERS, LLC FOR 183+ACRE PROPERTY FORMERLY KNOWN AS BISCAYNE LANDI

North Miami, FL – 8/21/2012

The much anticipated closing for the lease of the 183.8 acre property formerly known as Biscayne Landing took place yesterday, Monday, August 20th. The City of North Miami has now entered into a 99-year lease with Oleta Partners, LLC.

“This is a momentous occasion for the City of North Miami,” stated Mayor Andre D. Pierre, Esq. “We look forward to a new chapter in our City’s history with the development of this significant parcel of land that has been dormant for so many years. We look forward to a long-standing working relationship with the developers to ensure that the property is developed in such a way as to benefit the residents of our great City.” City Manager, Stephen Johnson, explained, “Aside from the significance of the development that will take place on this site, the timing of this agreement is of pivotal importance in bringing the City back financially. I am also excited about the job and training opportunities that will result from this agreement, which will put more residents back to work, as well as benefit local businesses interested in being a part of the project.”

The lease agreement brings to close the Request for Proposal (RFP) process, which commenced in July 2011 to find interested parties to develop the site, a portion of which is a former municipal landfill, into a premiere project that will benefit the residents of North Miami and complement existing businesses in the City.

The property has a colorful history of highs and lows, dating back to the 1950’s with the dream of Interama, a world’s fair prototype project. Its use as a municipal landfill for over forty years landed the property on the U.S. Department of Environmental Protection’s National Priorities List (NPL) of Superfund sites in 1982. It was removed from the list in 1999 after ongoing testing insured that the site posed no threat to human health. In 2002, the City entered into a lease agreement with the aspiration to develop the site; however, the downturn in the economy led to foreclosure just after the first phase of construction on two residential towers was completed. The City regained control of the property in 2011 and immediately moved forward with the RFP process.

The site continues to undergo groundwater remediation, a requirement for the landfill closure, which is funded by a $31 million grant from Miami-Dade County. Last February, the City celebrated the construction and installation of a Class 1 Deep Injection Well, a large component of the groundwater remediation project.

A ceremonial signing of the agreement between the City of North Miami and Oleta Partners, LLC will take place on Tuesday, August 28th at 5:30 p.m. at the site. Details on the ceremony will be posted at
northmiamifl.gov/biscaynelanding.

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