Medley leaders voted 5-0 at last Monday’s council meeting to approve a Florida Power & Light franchise deal that will net the town $10.8 million over the next 30 years.
The agreement permits FPL certain rights to conduct business in Medley in return for cash payments of $360,000 per year.
The 4.3 square-mile town that borders Doral, Hialeah and Miami Springs has a population of 838, according to the 2010 Census, and its primary tax base is industry. The town has budgeted $1,539,090 toward its “senior services department” for the current fiscal year.
There are 85 homes in Medley with a median assessed value of $60,148. The typical homeowner who takes the standard $50,000 homestead exemption pays just $56.62 in property taxes.