City of Miami Approves Funding for Remediation of Museum Park

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(MIAMI, FL) - The board of commissioners of the City of Miami Omni Community Redevelopment Agency (Omni CRA) has unanimously approved the release of funds for the environmental remediation of eight acres of Museum Park, the 29-acre waterfront parcel that will include new facilities for Miami Art Museum and the Miami Science Museum. The eight acre remediation process will clear the path for the construction of the new museum facilities. Remediation will begin within weeks, with the goal of finalizing the process by early November of this year.

The CRA vote follows the May 2010 announcement that Miami Art Museum is eligible to receive $100 million in County bond proceeds. These public funds, coupled with $45 million in private donations raised to date, will finance construction and occupancy of the museum's new Herzog & de Meuron-designed building, which is slated for completion by 2013.

Miami Science Museum is following not far behind. The plans for the building, with aquarium, planetarium and interactive exhibits are progressing through planning and were recently accepted by Miami's Urban Development Review Board. $165 Million of General Obligation Bonds have been allocated to this project and private fundraising is well underway. Construction of the 250,000 square foot Grimshaw Architects-designed building is expected to begin in late 2011, with the museum's doors scheduled to open in 2014.

"The remediation process will be the first visible sign of development progress at the Museum Park site," said Aaron Podhurst, chairman of Miami Art Museum's board of trustees. "Once the process is completed this fall, Miami Art Museum will begin moving forward with construction of our new home. Miami is only a few years away from welcoming what will be one of the world's great art museums, a cultural port that will serve as a gateway for exchanging art and ideas with the rest of the world."

Dan Bell, co-chair of the Miami Science Museum board of trustees believes the economic impact of Museum Park factored into the positive Omni CRA vote. "The City of Miami and Miami-Dade County understand the importance of fast-tracking the development of Museum Park," said Mr. Bell. "In addition to providing our community with world-class venues for arts, culture, and science exploration, Museum Park will stimulate much needed job creation and economic growth in our urban core."

The construction of Museum Park is expected to direct $20 million dollars to local businesses, create more than 1,700 jobs including 100 new museum jobs, generate hundreds of millions of dollars in new tax revenue, and lure up to 600,000 visitors to downtown Miami annually, according to a community benefits study conducted by the independent Washington Group. The park is expected to spur a $2 billion economic impact in its first decade.

The Miami Art Museum is located at 101 W Flagler Street, Miami, FL 33130 and serves one of the most diverse and fast-growing regions of the country.

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