Miami voters have chosen to reject a deal that would have leased city-owned land on Virginia Key to developers.
Referendum 3, which was on the ballot for city of Miami voters on Nov. 3, was opposed by 65.22% of voters, according to the Miami-Dade County Supervisor of Elections. It proposed leasing about 27.62 acres on Virginia Key to Virginia Key LLC, a joint venture between RCI Marine Group and Dallas-based Suntex Marinas, according to the Real Deal. The lease would have lasted for 45 years initially, with the opportunity for two 15-year renewals, according to a sample ballot provided by the Miami-Dade County Supervisor of Elections.
The referendum said an "approximately $80,000,000 privately funded investment" would have gone toward redeveloping
"existing Rickenbacker and Marine Stadium marinas." It also proposed a "minimum annual guaranteed rent" of $2.2 million to the city of Miami, "with escalations," totaling about $203.98 million over the initial term.
Save our Marinas, a group in opposition to the referendum, said the language on the ballot wasn't transparent enough, and that the proposal would give away more than the "existing Rickenbacker and Marine Stadium Marinas," including "restaurants" and "retail." Gramps Getaway, a business located within the 27.62 acres, was against the redevelopment, although the "Vote Yes" initiative said that the business would be allowed to stay.
Aabad Melwani, current President of Virginia Key's Rickenbacker Marina, wrote that he was against the referendum for several reasons, among them possible "damage to Biscayne Bay."
The USA TODAY Network has reached out to RCI Marine Group and Suntex Marinas.
Miami Referendum 3 results
What was Miami Referendum 3?
The text that appeared on the ballot read as follows:
"Proposed Lease and Redevelopment of existing Rickenbacker and Marine Stadium Marinas on Virginia Key Shall City lease approximately 27.62 acres on Virginia Key to Virginia Key, LLC for:
- 45-year initial term with two 15-year renewals;
- Minimum annual guaranteed rent to city of $2,200,000 (with escalations) totaling approximately $203,980,000 over the initial term plus 6% of gross revenues;
- Approximately $80,000,000 privately funded investment to redevelop existing Rickenbacker and Marine Stadium marinas in an environmentally sensitive manner, including boat storage, restaurants, retail, and public parking?"
Sarah Perkel is a South Florida Connect Reporter for the USA TODAY Network's Florida Connect team. You can get all of Florida’s best content directly in your inbox each weekday day by signing up for the free newsletter, Florida TODAY.
This article originally appeared on USA TODAY: Virginia Key lease rejected: Miami says no to $80 million marina plan
