Biscayne Harbor Shops In Trouble

entrance to Biscayne Harbour Shops

Facing his third foreclosure lawsuit from the same lender, Bay Harbor Islands developer Irwin E. Tauber could lose his Biscayne Harbor Shops in Aventura to an affiliate of Bank of New York Mellon Corp.

On April 6, MUNB Loan Holdings filed a foreclosure lawsuit against Biscayne 181, Causeway Village and Tauber, the CEO of Taubco, according to Miami-Dade County Circuit Court records.

It concerns a combined $16.1 million in mortgages originally written by Mellon United National Bank in 2005 and 2006.

This is the latest in a long line of problems for Tauber over the past year.

In October, he put his 328,254-square-foot Vero Fashion Outlets in Vero Beach into Chapter 11 to halt a foreclosure lawsuit.

In February, MUNB filed two foreclosure lawsuits against Tauber and affiliated companies involving multifamily and commercial properties on Bay Harbor Islands.

MUNB’s latest lawsuit against Tauber targets the 49,252-square-foot shopping center at 18183 Biscayne Blvd. that belongs to Biscayne 181. Built in 1981, it was purchased for $14.3 million in 2006. Tenants include Olive Garden, Coldstone Creamery, Starbucks and U.S. Century Bank.

Allianz Championship

golf in AventuraAllianz Life Insurance Company of North America has been negotiating with Turnberry Isle to move the Allianz Championship to Aventura from Boca Raton, Florida and an announcement on the agreement is expected shortly.

Allianz, a national insurance company that is part of the global financial services group Allianz SE, has been the sponsor of the tournament since 2001, when it began in Des Moines, Iowa, before moving to Boca Raton.

Events such as this are used to treat employees and clients of sponsors, so lack of a hotel at The Old Course at Broken Sound in Boca Raton was a major drawback.

“They have always wanted a resort on the course because they bring in agents from all around the country,” Allianz Championship media director Rene Nunez said.

The Allianz Championship Pro-Am is a Champions Tour (age 50 and older) event and broadcast by The Golf Channel.

No Red Light Cameras?

Proposed Florida House Bill 1325 would prohibit municipalities, such as Aventura, from garnering income by collecting money via red-light traffic tickets:

“Use of traffic infraction detectors or cameras by county or municipality prohibited.—Unless expressly authorized by general law, a county or municipality shall not use any type of traffic infraction detector or camera to enforce s.316.075(1)(c) or to otherwise regulate traffic through the issuance of a traffic citation or through the use of a local code enforcement process. The authority of a public body to use traffic infraction detectors or cameras to enforce traffic laws or to otherwise regulate traffic is expressly preempted to the state.”

The author of the the proposal, State Rep. Robert Schenck of Spring Hill, referred to the use of such cameras as “a hidden tax” and “a means to increase falling revenue under the guise of public safety.”