Oct 01, 2024
Below are some of the FYIs in this week’s edition. The entire content of this week’s FYIs and Insider sections is available by subscription only. To subscribe click here. COOKING OIL TO JET FUEL: A combination of used cooking oil and food waste will be used to create 18 million gallons of sustainable aviation fuel that will be blended with 42 million gallons of conventional Valero aviation fuel and delivered to Miami International Airport under an agreement announced last week. World Fuel Services, headquartered in Miami, and DHL Express, an international air express delivery service, have signed a commercial agreement for the fuel. “I applaud World Fuel and DHL for making Miami-Dade County the gateway for sustainable jet fuel in the state of Florida and one of only five entry points in the country,” Mayor Daniella Levine Cava said in a statement. Valero will blend the fuel. An announcement says sustainable aviation fuel has at least 80% lower lifecycle greenhouse emissions than conventional jet fuel.   GREEN LIGHT FOR MIAMI MOBILITY: The roadblock has been removed for City of Miami transportation projects that are to be funded by the county’s half percent sales tax for new transportation. The Citizens’ Independent Transportation Trust, which oversees the spending of those tax funds, voted unanimously last week to discontinue the withholding of the surtax funds for the city and release any funds previously withheld upon an agreement between the city and the trust’s executives on an enhanced reporting, monitoring and milestone plan for the city’s timely spending of the money. “There’s a lot of different projects, particularly in my district, that were just hanging there,” city Commissioner Manolo Reyes told the trust after its vote. “Now we can come forward and improve the quality of life of our residents.” Trust Executive Director Javier Betancourt said he would stay on top of spending of the tax receipts wisely, laying out a plan. CASHING OUT: The percentage of all-cash sales of Miami-Dade County single-family homes and condos has fallen markedly in the past year, though the cash-sale percentages are still far above the US average. Cash sales in the county were 32.9% of total sales, according to the Miami Association of Realtors. That’s down from 40.3% all-cash deals in August 2023, but it’s still far more than the 26% all-cash rate nationally. Cash sales of existing condos in August were 43% of total condo sales, while 22% of single-family transactions were for cash. MIDTOWN SHOPS SOLD: Benderson Development has purchased the 347-740-square-foot Shops at Midtown Miami. The retail center in Midtown was built in 2006.  Related Posts:FYI Miami: August 8, 2024Miami’s real estate sales boom exhausts superlativesFYI Miami: April 11, 2024FYI Miami: September 28, 2023FYI Miami: September 12, 2024The post FYI Miami: October 1, 2024 appeared first on Miami Today.
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