ABOUT THE 2022 BOND REFERENDUM
Referendum Ballot Question:
In November 2022, Miami Beach residents voted to approve the $159 million General Obligation (G.O.) Bond for Arts and Cultural Facilities, with an outstanding support rate of approximately 64.8%.
2022 Ballot Question #2:
General Obligation Bond Issue For Arts and Cultural Facilities
To improve facilities for resiliency of arts and cultural institutions throughout the City, including museums, performance venues, artistic playgrounds, senior/cultural centers, botanical garden, aquatic sculpture park, and related artist/workforce housing, shall City be authorized to issue general obligation bonds, from time to time, not exceeding $159,000,000 aggregate principal amount, payable from unlimited ad valorem taxes, bearing interest not exceeding maximum legal interest rate, maturing no later than 30 years from issuance date?
PRE-REFERENDUM PROGRAM HISTORY
The series of events that led up to the approval of the Miami Beach G.O. Bond for Arts & Culture include:
October, 2021: At the October 22 Finance and Economic Resiliency Committee meeting, the Committee issued direction to the Administration to work on an inventory of needs for the City’s arts and cultural assets, as well as a recommendation to continue the discussion. Pursuant to the Committee’s direction, the Facilities and Fleet Management Department worked in conjunction with the operators and tenants of various cultural institutions within the City to compile an inventory of capital needs and requests.
February, 2022: At the February 25 Finance and Economic Resiliency Committee meeting, the Committee reviewed the initial project list. The proposed budget totaled over $338 million, with some costs remaining to be determined. After discussion, the inventory list was refined.
March, 2022: At the March 30 Finance and Economic Resiliency Committee meeting, the Committee reviewed the revised project list, with a proposed budget totaling over $134 million. The Committee made a motion to have the item discussed at the May 4 City Commission meeting for further discussion and direction.
May & June 2022: At the May 4 City Commission meeting, the discussion was deferred to June 2022. The Facilities and Fleet Management Department continued to meet with stakeholders to address costs previously undetermined in the original request to further refine the project list. On June 22, the Mayor and City Commission made a referral to the City’s G.O. Bond Oversight Committee to review the projects and provide a recommendation for the Commission.
July, 2022: On July 5 and 6, the Oversight Committee reviewed the individual projects, which included proposed budgets, stakeholder interviews and case summaries. On July 14, the Oversight Committee deliberated and finalized their recommendations. On July 20, the Mayor and City Commission approved a resolution calling for a November 8 voter referendum on the proposed General Obligation Bond for Arts & Culture Facilities, with a proposed budget totaling $159 million.
November 8, 2022: On Election Day, the G.O. Bond for Arts & Culture referendum item passed with a voter support rate of 64.8%. With those results, the $159 million Miami Beach G.O. Bond Program was formally approved.
Click here to see the 21 voter-approved G.O. Bond for Arts & Culture project descriptions!
Still learning? See Frequently Asked Questions!