Topic analysis

How Miami taxpayers could be left holding a $400m bill for luxury real estate

Miami-Dade County is poised to pay the HRP Group $400 million for a Fisher Island property containing a critical fuel depot for the cruise industry, a deal that would net the developer a $220 million profit without construction and potentially burden taxpayers. The county moved to acquire the land to prevent the depot's demolition after the developer's purchase, sparking legal challenges from island residents.