FYI Miami: March 7, 2024

Below are some of the FYIs in this week’s edition. The entire content of this week’s FYIs and Insider sections is available by subscription only. To subscribe click here.

JACKSON WINDFALL: The Florida Senate has unanimously passed a plan to designate Jackson Memorial Hospital and at least three others as behavioral health teaching hospitals linked to universities, as lawmakers look to improve care for people with mental health and substance abuse issues. The four are Jackson and the University of Miami; Tampa General Hospital and the University of South Florida; UF Health Shands Hospital in Gainesville and the University of Florida; and UF Health Jacksonville and the University of Florida. The bill would provide $100 million a year over the next three years to those hospitals, with additional money for such things as residency positions for psychiatrists. For example, during the upcoming 2024-2025 fiscal year it would provide $6 million for 10 residency positions at each of the four hospitals through as the state’s “Slots for Doctors Program.” 

ORANGE BOWL PARKS PACT: County commissioners have unanimously OK’d a complex agreement to fund the Orange Bowl game and its host committee that also will send millions of dollars to both Rolling Oaks Park, owned by the City of Miami Gardens, and county-owned land at the Boys and Girls Club of Miami-Dade, Kendall Club. As part of the agreement, the county also will pay half the $600,000 cost to establish a science, technology, engineering and math community center in Miami Gardens. A 2020 funding agreement among the county, the Orange Bowl Committee and the Host Committee for the 2021 College Football Playoff National Championship Game “included a requirement for the Host Committee to facilitate two legacy gift projects in Miami-Dade County, including a $1.15 million contribution to construct a legacy gift project” at a park and finish the project by this spring, according to the legislation. The county in the agreement was to match that funding.

HIGHER CONSUMER LOAN RATES: The Florida Senate voted 21-18 for a bill that could lead to borrowers paying higher interest rates on consumer finance loans hours after the House approved it 104-10, readying the measure to go to Gov. Ron DeSantis. Under current law, consumer finance loan companies can charge 30% annual interest on the first $3,000 of principal; 24% between $3,000 and $4,000; and 18% between $4,000 and $25,000. Under the bill, they could charge up to 36% on the first $10,000 of principal; 30% between $10,000 and $20,000; and 24% between $20,000 and $25,000. Senate sponsor Colleen Burton said the changes would help attract more consumer-finance lenders to the state.