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Some Miami-Dade County commissioners indicated this week they plan to take a cautious approach toward recommendations that they act quickly to prepare for global warming.

A task force appointed by the commission urged decisive leadership Tuesday on several key items – such as requiring major improvements in taxi exhaust pollution to help decrease greenhouse gas emissions. But no commissioners said they were ready to immediately move forward with the recommendations.

"We need to analyze each one of the recommendations," Commissioner Rebecca Sosa said. "We need a price tag for implementation."

Much of the Miami metropolitan area is only six to 10 feet above sea level, and some areas are lower. The task force used international studies that predict sea level rise of three to five feet this century. Such a rise could contaminate freshwater sources with saltwater, which would make drinking water purification much more difficult and expensive.

"The most expensive thing we could do is nothing," said Clerk of Courts Harvey Ruvin, chairman of the task force.

Other recommendations include using the county’s charter powers to effect development restrictions in flood-prone areas and increasing emphasis on preserving open space.

The commission discussed the recommendations briefly and congratulated task force members for studying the impact of global warming and recommending a response.

"My biggest concern is saltwater intrusion, " Commissioner Sally Heyman said. "This needs to be part of our budget effort."

Commissioner Katy Sorenson asked whether the task force was recommending against further expansion of the county’s urban development boundary – a line designed to contain urban sprawl and stop the metro area’s westward expansion. MORE http://southflorida.bizjournals.com/

The national media portrays South Florida as an epicenter of the residential crash, but a survey for Bank of America shows the region isn't a basket case.

When it comes to tightening spending, 59 percent have done so nationwide, and the percentage is only 3 points higher here – at 62 percent. The percentage of South Floridians who've cut back dining was 48 percent, actually less than the nation as a whole, at 51 percent. When it comes to spending less on shopping, 48 percent of South Floridians have done so versus 50 percent nationally.

(All that time spent going out may explain why 50 percent of South Floridians have cut back on consumer electronics, which is higher than the 43 percent for the entire country.)

"What’s surprising is there is not more of a sharp cutback here than the national economy," said Lynn Reaser, chief economist for Bank of America's investment strategies group.

In contrast, the Texas economy is holding up better than the national as a whole, but consumers are cutting back more.

Among the region's three counties, Miami-Dade's is holding up the best due to a booming trade, Reaser said during a visit to the region.

This year should start to form a bottom to the housing market, although there could be some price drops next year, she said.

Much of the survey also dealt with investments and long-term planning. Nationally, only 33 percent of those surveyed feel they were on track for retirement planning versus 38 percent in South Florida. "The results are quite disturbing," Reaser said.

Boca Raton, FL - Boca Developers is negotiating with lenders who are owed hundreds of millions of dollars to take over its portfolio, the company’s managing partner said. The situation, which involves hundreds of condo units in eight projects from Riviera Beach to North Miami, represents one of the biggest portfolio meltdowns so far. “No other developer has run into that kind of bind, so far. It’s the first of many,” said Condo Vultures Realty principal Peter Zalewski, who tracks foreclosures. However, lenders might not accept his offer, Boca Developers President Brian Street said. “If I could, I would like to be able to. It’s time to move on.”

The company does not plan to enter bankruptcy court and would still pursue projects, he said. The three-year residential downturn has compromised all of the projects planned or completed by Boca Developers in the last five years, Street told a reporter at an April 21 town hall meeting to discuss the developer’s Biscayne Landing project in North Miami.

Jeff Scott, Boca Developers' VP and project manager for Biscayne Landing, said up to a dozen projects could be returned to lenders.

Deerfield Beach-based Boca Developers has eight projects in South Florida with outstanding mortgages, according to court records. Based on the number of units it has sold, Boca Developers owes about $682 million on those projects.

The company has 443 completed units left to unload in South Florida, based on a recent search of property records. It has sold 24 units in those projects so far this year. Boca Developers also has condo projects in the Keys and Volusia County. Street said the walkaway rate has been 30 percent.

Boca Developers is in negotiations to transfer ownership of three projects to New York-based mezzanine lender Cerberus Capital Management, which is owed $204.7 million. As part of the deal, Cerberus provided a $275 million line of revolving credit and received an assignment-of-ownership interest in several projects, Scott said.

The three projects consist of the remaining 155 condos at Biscayne Landing and the lease on a handful of acres. Boca Developers is retaining control of the lease of the remaining 188 acres of North Miami-owned land at Biscayne Landing. MORE http://southflorida.bizjournals.com/

Sales status: The developer still owns three of those units, which the condo association has filed liens against for unpaid association dues

Sales status: The developer still owns nine of those units, which the condo association has filed liens against for unpaid association dues

Biscayne Landing: A 193-acre redevelopment of superfund site leased from North Miami Ground mortgage: With Wells Fargo Bank for $198.5 million.

Contractor lawsuits: Aluma Systems Concrete is seeking $1.7 million, and Shoreline Foundation is suing over $1 million

Sales status: The developer still owns nine of those units, which the condo association has filed liens against for unpaid association dues

Sales status: The developer still owns three of those units, which the condo association has filed liens against for unpaid association dues

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