C7AJ - Retroactive Swimwear Icons Hall of Fame

Resolutions - C7 AJ

COMMISSION MEMORANDUM

RECOMMENDATION

The Administration recommends accepting the recommendation of the Finance and Economic Resiliency Committee (FERC) to include this item for consideration during the Fiscal Year (FY) 2026 budget process.

The Administration recommends that while the City Commission evaluates the funding of a retroactive sponsorship request in an amount of $75,000 for the 2025 Swimwear Icons Hall of Fame Gala event which occurred in May, it also carefully considers several critical factors that will significantly impact the General Fund budget, beginning in FY 2026:

1. The City’s increasing unfunded capital improvement program 2. Long-term General Fund financial projections indicating a potential shortfall in upcoming fiscal years 3. The passage of Amendment 5 in November 2024, which increases the homestead exemption and further constrains the growth of taxable property values.

These considerations are essential to ensure that decisions regarding funding the sponsorship request in an amount of $75,000 for the 2025 Swimwear Icons Hall to Fame Gala event align with the City’s broader long-term financial stability and strategic priorities. If the Commission recommends funding the sponsorship of the 2025 Swimwear Icons Hall of Fame Gala event, the Administration recommends it be considered as part of the FY 2026 budget process.

BACKGROUND/HISTORY

On February 26, 2025, the Mayor and City Commission approved a referral item sponsored by Commissioner Joseph Magazine and co-sponsored by Commissioner David Suarez to discuss expanding Miami Beach’s partnership with Miami Swim Week.

ANALYSIS

Miami Swim Week celebrated its 21st edition in 2025. The weeklong activation featured multiple events, exclusive product launches, and runway presentations by top brands in swimwear and the resort wear industry.

Based on Miami Swim Week’s proven track record of economic impact, media exposure, and industry relevance, the referral asks Miami Beach to seek to expand its partnership with the event. The expansion could be through increased municipal support—whether through infrastructure enhancements, marketing collaborations, or incentives for participating businesses— which would further cement the city’s status as the global leader in swimwear fashion. Additionally, fostering a stronger relationship with Miami Swim Week could encourage year-round fashion activations, sustaining visitor engagement beyond the event itself. By deepening its investment, Miami Beach can maximize the long-term economic and cultural benefits of this world-renowned fashion spectacle.

Paraiso Miami Swim Week, the anchor event during Miami Swim Week, took place on May 29- June 1, 2025, in the City of Miami Beach’s municipal lot P49 with an estimated attendance of 10,000 over the course of the activation days.

The event organizers of Miami Swim Week and Paraiso Swim Week launched the inaugural event Swimwear Icons Hall of Fame Inaugural Induction Gala (the Gala), during the 2025 Miami Swim Week. The Gala celebrated individuals who have made a significant contribution to the swimwear industry. The Event took place in Miami Beach on May 28, 2025.

In addition to the inaugural Gala, the organizers have shared the intent to establish a permanent exhibition honoring the swimwear industry in Miami Beach in 2027.

Special Event Sponsorship Request: Paraiso Swim Week did not apply for funding through the Special Event Sponsorship Program for the 2025 activation. However, the event was awarded a grant from the Miami Beach Visitors and Convention Authority in an amount of $57,000 for the 2025 activation. The event organizers have requested an amount of $75,000 as a special event sponsorship for the Gala event which occurred during Swim Week in May 2025.

At the May 7, 2025, Finance and Economic Resiliency Committee (FERC) meeting, the event organizers presented the details of the Event along with the special event sponsorship request of $75,000. The FERC provided a favorable recommendation to the City Commission to consider special event funding in the amount of $75,000 to support the Swimwear Icons Hall of Fame event to be considered during the FY 2026 process. In addition, the FERC also requested that an educational element be considered by the event organizers as a public benefit.

The event organizers worked with the City’s Office of Education and Performance Initiatives and engaged City of Miami Beach students for the Swimwear Icons Hall of Fame event. There was participation of one (1) Miami Beach student, a member of the Miami Beach Youth Commission who attended the Event on May 28, 2025, with their parent.

Should the Mayor and City Commission approve to retroactively sponsor the Swimwear Icons Hall of Fame event, funding would need to be identified, budgeted, or allocated during the FY 2026 budget development process.

FISCAL IMPACT STATEMENT

As part of the potential partnership, the event organizers are seeking special event funding for the inaugural Swimwear Icons Hall of Fame event in the amount of $75,000. Funding for the proposed event has not been identified, budgeted, or allocated. It is recommended that the City Commission approve, that funding be prioritized through the FY 2026 budget development process.

Does this Ordinance require a Business Impact Estimate? (FOR ORDINANCES ONLY)

If applicable, the Business Impact Estimate (BIE) was published on: See BIE at: https://www.miamibeachfl.gov/city-hall/city-clerk/meeting-notices/

FINANCIAL INFORMATION

CONCLUSION

The Administration recommends accepting the favorable recommendation of the Finance and Economic Resiliency Committee at its May 7, 2025, meeting to retroactively consider special event funding in the amount of $75,000 to support the Swimwear Icons Hall of Fame event, which occurred on May 28, 2025, to be considered during the FY 2026 process. In addition, the FERC requested that an educational element be considered by the event organizers as a public benefit.

Currently, the City does not provide special event sponsorship to Paraiso Miami Swim Week, which takes place annually. Funding for the proposed event has not been identified, budgeted, or allocated. If the City Commission approves, funding for the 2025 event would be prioritized for consideration through the FY 2026 budget development process.

Applicable Area

South Beach

Was this Agenda Item initially requested by a lobbyist which, as defined in Code Sec. 2-481, includes a principal engaged in lobbying? No

If so, specify the name of lobbyist(s) and principal(s):

Department

Tourism and Culture

Sponsor(s)

Commissioner Joseph Magazine

Co-sponsor(s)

Commissioner David Suarez

Condensed Title

Accept Rec, Special Event Sponsorship for Swimwear Icons Hall of Fame Event. (JM/DS) TC

Previous Action (For City Clerk Use Only)