Let me tell you where I stand. Miami Community Newspapers supports this proposal, and I am voting YES on November 3. I don’t say that lightly. We have looked at the numbers, looked at the proposal and looked at what Miami gets out of the deal. My conclusion is simple: Virginia Key needs investme nt, it needs improvements and it needs a long-term plan. This proposal provides all three while the City of Miami keeps ownership of the land. To me, that’s a deal worth supporting. I have been covering Miami for more than 40 years. I’ve watched this city change dramatically. I’ve watched neighborhoods change, businesses come and go, and I’ve watched Miami become one of the most important cities in the country. I’ve also seen something else over those years — Miami can take forever to get things done. We talk. We have meetings. We have studies. We have lawsuits. We have arguments. And sometimes, years later, nothing has changed. I don’t want Virginia Key to become another one of those stories. Let’s start with the biggest misconception. The City of Miami is not selling Virginia Key. The City keeps ownership of the approximately 27.6 acres of waterfront. What changes is the operator and the investment. The proposal calls for approximately $80 million in private investment into City-owned property. That’s private money. Not taxpayer money. Not another City-funded construction project. Someone else is putting up the money to improve a City asset. In today’s Miami, where every taxpayer dollar matters, I think that deserves serious consideration. And Miami gets substantially more money in return. The current operator’s guaranteed base rent is approximately $360,000 a year. The new proposal guarantees at least $2.2 million a year, with annual increases. The City also receives 6% of gross revenues. Based on projected revenues, the initial annual rent is estimated at approximately $3.8 million. Over the first 45 years, the City is guaranteed approximately $204 million in rent — before the percentage rent is added. Those are not small numbers. That’s real money going into the City of Miami. Now let’s talk about the “giveaway” argument. I have heard it. I’ve read it. And I think voters need to look past the political language and look at the actual numbers. Yes, the procurement process started years ago. But the market valuation did not. The City commissioned an independent appraisal in 2026. The appraisal found that the proposed annual rent of approximately $3.516 million was 4.7% higher than the appraiser’s market-rent conclusion. That’s above market. So when someone says this is a below-market giveaway, I have a simple question: Where is the evidence? Because the independent appraisal commissioned by the City doesn’t say that. It says the proposed rent is above the appraised market value. And let’s put the rent increase in plain English. The existing guaranteed base rent is approximately $360,000 a year. The proposed guaranteed base rent is at least $2.2 million. That’s more than six times the current guaranteed amount. Then you add the percentage rent. Then you add the annual increases. Then you add approximately $80 million in private improvements to City-owned property. You don’t have to be a financial expert to understand that the City is getting substantially more out of this property than it gets today. The long-term lease expired in 2016. Ten years ago. Since then, Virginia Key has continued under a short-term arrangement based on an outdated agreement. I keep coming back to that because it matters. Ten years is too long. How much longer are we going to wait? Another five years? Another ten? At some point, you have to stop asking what might happen and decide what should happen. Somebody is willing to make an approximately $80 million private investment. That’s an opportunity Miami should not casually throw away. And I don’t want to hear that improving Virginia Key means taking it away from the public. That’s not what this proposal does. The City keeps ownership. The plan calls for a public waterfront path, outdoor gathering areas, public parking, restaurants, retail, improved boat ramps and launches, wet slips, dry storage and upgraded marina facilities. I want families there. I want residents there. I want boaters there. I want paddlers there. And I want people who don’t own a boat to have a reason to visit Virginia Key and enjoy the waterfront. The Rusty Pelican is outside the proposed lease area and would remain in place. Project proponents have also said they want Gramps Getaway to remain part of the improved waterfront destination. That’s the kind of Miami waterfront I want to see — active, accessible and welcoming, with businesses and public spaces working together. Now let’s talk about a NO vote. Because voters need to understand what NO actually means. It means this proposal is rejected. It doesn’t mean another $80 million investment is waiting around the corner. It doesn’t mean a better financial agreement automatically appears. It means the City still has to figure out what comes next while the property remains under a short-term operating arrangement. Maybe something better comes along. Maybe it doesn’t. But after ten years, I’m not interested in another decade of “maybe.” I have spent more than four decades in the community newspaper business. I’ve learned that you have to ask tough questions, look at both sides and then make a decision. I believe this proposal is good for Miami. The City keeps the property. The City gets substantially more guaranteed revenue. The City receives a percentage of revenues. And approximately $80 million in private money goes into improving a City-owned waterfront property. Miami has some of the most valuable waterfront in the world. We should improve it, not leave it sitting in limbo. Virginia Key has waited long enough. On November 3, Miami Community Newspapers supports YES #290, and I urge Miami voters to vote YES. Let’s get Virginia Key moving The post VIRGINIA KEY: MIAMI HAS WAITED LONG ENOUGH  first appeared on Miami's Community News. ...read more read less