This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

Miami-Dade County Shoots Craps With Federal Grants At Opa-Locka Airport

MIAMI, April 16, 2012 /PRNewswire/ -- On 22 May, 2012 the Department of Justice will defend the Federal Aviation Administration (FAA) and Miami-Dade County in oral arguments for a second time from a 2005 BMI / Blueside discrimination lawsuit in the U.S. Court of Appeals in Atlanta GA.

"Aviation development at Opa-Locka Airport is like a space shot of North Korea at night, 1% eat while 99% starve. Now County and Aviation Managers are shooting street craps with federal grants, betting the house they can beat federal law," states BMI spokesperson Stephen O'Neal, a former 25 year tenant who had first sought a development lease at Opa-Locka Airport in 1999.

A second and final ruling against Miami-Dade County following the 2008 U.S. Court of Appeals reversal of the FAA with a decision of discrimination by Miami-Dade County would shut down the FAA's Airport Improvement Program (AIP) which in turn could contaminate other federal transportation grants. The FAA has given Miami-Dade over $200 million in AIP grants since 2000 and a final ruling of discrimination could trigger federal directives to claw back affected grants with interest.  

In 2009 Aviation Week, a McGraw Hill Publication chronicled the difficulties at the former US Naval Air Station in an article  called "The Opa-Locka War" which centered on long term tenants struggles to obtain development leases for their businesses while the County leased out the land from underneath them without bid or notice. 

"The economy is often given as the reason by Miami-Dade for a lack of aviation development, rather than the actual cause which is land banking," BMI's O'Neal explains. "A close look shows that three small aviation development leases of 34, 22 and one acre, two of which came in existence as a result of litigation, continue to be successful at building new aviation facilities. Whereas the majority of the two 300 plus combined acre aviation development leases that changed hands in 2007 / 2008 have remained undeveloped since 1962 when the County took possession of the airport from the federal government 50 years ago."

O'Neal shrugs, "This is all about County and Aviation Managers operating under the influence, not of federal law but 1%."             

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,213.49 -75.14 -0.41%
S&P 500 2,106.88 -10.51 -0.50%
NASDAQ 4,981.9540 -26.1420 -0.52%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs