Miami Worldcenter

The SEOPW CRA played a pivotal role in the development of Miami Worldcenter by utilizing Tax Increment Financing (TIF) to fund crucial infrastructure improvements in the surrounding area. TIF allowed the CRA to reinvest increased property tax revenue from new developments back into the community, supporting the construction of roads, utilities, and public spaces. These infrastructure enhancements, made the area more attractive to developers, investors, and retailers, further boosting the appeal of Miami Worldcenter. To date, the SEOPW CRA has contributed approximately $23.9 million to Miami Worldcenter.

In addition to infrastructure, the SEOPW CRA's use of TIF aimed to foster economic growth in historically underserved areas like Southeast Overtown and Park West. The development of Miami Worldcenter is a catalyst for new jobs, businesses, and investment in these communities. The SEOPW CRA also supported workforce development by hiring locally, ensuring the project's benefits reached residents. Overall, the SEOPW CRA’s involvement helped revitalize the neighborhood, driving physical and economic transformation while ensuring long-term community benefits.