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<br />City. With more than 90 percent of the state's foreign banks bperating offices in Miami, this market
<br />dominates international banking in Florida.
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<br />There are 43 international banking agencies, 13 Edge Act corporations and 4 Edge Act corporation
<br />branches operating in Greater Miami. Many of their banking customers are located in Latin
<br />America.
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<br />Overall, about 150 domestic banks, savings and loans, foreign banks and Edge Act banks operate
<br />in Greater Miami. The greatest concentration is located along Brickell Avenue in downtown Miami.
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<br />Transportation
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<br />Miami-Dade County has an extensive expressway system with access to all points in the County.
<br />However, due to the rapidly increasing population, some of the expressways, especially 1-95, are
<br />becoming overburdened. In 1984 Miami-Dade County completed a 20.5 mile elevated rapid transit
<br />system. This system extends southward from downtown Miami to Dadeland, paralleling U.S.
<br />Highway 1 and northwesterly from downtown Miami to Hialeah. In conjunction with this system,
<br />there is a downtown people mover system which encircles the central business district of Miami and
<br />extends south to the Brickell area and north to the Omni area.
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<br />Miami-Dade County is served by the CSX and Florida East Coast Railroads for freight and Amtrak
<br />Rail, Greyhound and Trailways Interstate bus lines for passenger service.
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<br />Miami International Airport, one ofthe nation's largest and busiest, had approximately 33.6 million
<br />arrivals and departures in 2001. Moody's Investor Service, a major bond-rating company, recently
<br />ranked the airport Aa (the second highest rating an airport can enjoy). Only Los Angeles
<br />International Airport shares this ranking; no U.S. airport has ever attained the highest ranking of
<br />Aal. According to Moody's, a key factor in the ranking is the airport's "market value as an
<br />international gateway with its own strong organization-and-destination base". The airport is
<br />currently undergoing a $5.4 billion expansion. New South and North terminals and a fourth runway
<br />are planned.
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<br />Miami has become a port of embarkation for airlines and ships bound for Central and South
<br />American Countries. The Port of Miami, besides being the largest passenger port in the nation, is
<br />also important as a cargo center with a 2001 annual tonnage of approximately 8.8 million up from
<br />7,050,000 in 1998 and 7,800,000 in 2000. The port's traditional customer base has been Latin
<br />America and the Caribbean, accounting for 64% of the port's total volume.
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<br />Miami's comprehensive transportation system and its strategic location have enabled it to become
<br />an important international transportation center, providing commercial access to Latin America and
<br />the Caribbean.
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<br />QUINLIVAN APPRAISAL
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