The owner of Jungle Island could be given an extended lease on the property, as well as the right to develop a hotel, if voters approve.
According to a development agreement, the hotel would cost $50 million and include 300 rooms. There could also be 10,000 square feet of restaurant and up to 30,000 square feet of meeting space in the building, which could not exceed 130 feet in height.
The lease has 43 years remaining. If the new deal is approved, the lease could be extended until 2099.
At a meeting next week, Miami commissioners are scheduled to decide whether to place the deal on the November 2017 ballot.