Miami voters sink the Virginia Key marina lease and approve a $450 million police and fire bond

Miami voters kept two city marinas out of a private lease and agreed to borrow $450 million for police and fire buildings.

With all 139 city precincts counted, 64,029 voters said no to the Virginia Key marina lease and 34,143 said yes, according to Miami-Dade Elections results posted early Wednesday. The results are unofficial until the county canvassing board certifies them.

What the marina deal would have done

The ballot measure would have leased more than 27 acres around the Rickenbacker and Marine Stadium marinas to Virginia Key LLC for 45 years, with two 15-year renewals. It set minimum rent at $2.2 million a year, included a 6% share of gross revenue and called for about $80 million in private investment.

The terms came from a 2017 bid. The city had to put them on the ballot unchanged because of a court order after a long legal fight, WLRN reported. Critics said the city could get a better price with new terms. Others worried about public access to the Marine Stadium marina.

Aabad Melwani, who runs the Rickenbacker marina and co-founded the opposition group Preserve & Protect Miami, said in a statement that voters "sent a clear message: our public waterfront should benefit the people of Miami, not out-of-state private equity interests looking to cash in on it."

Bobby Christoph, president of RCI Group, had argued the plan would add a public boardwalk from the Rusty Pelican to the stadium, waterfront shops and restaurants, and free parking. The developers said after the vote that they are not giving up, the Miami Herald reported.

What happens next on Virginia Key

The city is likely to seek new bids, and it could run Rickenbacker Marina itself, the Herald reported. Melwani stays on a month-to-month agreement for now. He subleases space to Adam Gersten, who runs the Gramps Getaway bar there.

The bond: fire stations and a new headquarters

The Safe and Ready bond lets the city borrow up to $450 million for public safety buildings. It passed 58,288 to 37,360, county results show.

The ballot language says the debt will be paid without raising the city's current debt tax rate of 0.5935 mills and calls for an independent yearly audit. The oversight committee measure passed 65,503 to 26,185.

Mayor Eileen Higgins, who pushed the bond, called it "a major victory for the people of Miami and the future of our city" in a statement. Commissioner Damian Pardo argued fire station repairs could be paid for with money the city already has, WLRN reported.

Catch up on what the marina lease would have done, our guide to the $450 million bond and the Seaquarium plan next door on Virginia Key.