The American Dream Miami mega-mall project has faced significant delays since Miami-Dade commissioners initially approved it in May 2018. A proposal led by Commissioner Juan Carlos Bermudez seeks to ease a subsidy ban placed seven years ago, potentially permitting tax revenue diversion for infrastructure costs. Triple Five, the developer, is currently entangled in court disputes related to the project's stalled progress. The proposed legislation does not directly authorize subsidies but aims to increase development flexibility by lifting existing restrictions.
The proposal by Miami-Dade County Commissioner Juan Carlos Bermudez aims to relax a subsidy ban on the stalled American Dream Miami project, allowing tax revenue diversion.
Triple Five, the developer of American Dream Miami, faces litigation with an allied developer and the county due to delays, as construction has yet to commence.
Bermudez's legislation would provide greater flexibility on the project, potentially enabling the diversion of property taxes to cover local road construction costs, amounting to $60 million.
The initiative was proposed again after being pulled last summer, and it was added to the agenda despite lacking the required public notice.
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