Must read from the Washington Post - How Miami Beach attempts to build itself "safe" from sea level rise...

Click here for link to entire article. Here's a portion:

But Miami Beach needs this penthouse — and many more like it. The more developers build here, the more taxes and fees the city collects to fund a $300-million storm water project to defend the shore against the rising sea. Approval of these luxury homes on what environmentalists warn is global warming quicksand amounts to a high-stakes bet that Miami Beach can, essentially, out-build climate change and protect its $27 billion worth of real estate.
The move makes budgetary sense in a state with no income tax: Much of South Florida’s public infrastructure is supported by property taxes.

And there's this. Remember how those against the bond issue wanted more analysis and facts?

The $300 million project is ambitious for a city with a $502 million annual budget. A new stormwater utility fee on homeowners, hotels and stores helped Miami Beach save enough money to borrow the first $100 million.
The project started before planners worked out all the funding. It’s unclear how the city will raise the rest. “We don’t have time for analysis-paralysis,” said Levine. “We are going to have to get creative.”