Why Florida’s condo owners are so desperate to sell
The costs associated with owning a Florida condo have exploded. A combination of insurance increases, special assessments and limited financing options have elevated costs beyond what many are able to bear. That has sparked a wave of sales, flooding the market and straining prices. Condo prices in the state of Florida overall have fallen between 1% and 6% each month annually since July 2024, according to Florida Realtors. In February, prices were down 3%. [Source: Wall Street Journal]
Over 20 Fortune 500 companies call Florida home. Where are they based?
Over 20 Fortune 500 companies last year called the Sunshine State home, spanning across different cities and industries in Florida. Some of them are household names, like Publix, while others you may be surprised to find in your backyard. To be a Fortune 500 company, a company must be for-profit, publicly traded or privately held and be based in the U.S. The company also must have revenue that puts it in the top 500 U.S. companies. [Source: Florida Times-Union]
Florida Senate, House bills would add flexibility for counties’ tourism tax spending
Under the proposed legislation, a county must spend at least 40% of all Tourist Development Tax revenue, but no more than $50 million annually, to promote or advertise tourism before using revenue for public facilities, including transportation. The TDT is a tax on all hotel, campground and vacation rentals for stays of six months or less. [Source: Gulfshore Business]
Floridians have less than a month to get your REAL ID. Here's where to get it, what to bring
Planning on traveling this spring and summer season? Make sure there's a little gold star on your driver's license before you head to the airport. In less than a month, every traveler over the age of 18 must present a REAL ID-compliant driver's license or identification card (or a valid passport or passport card) to board a commercial aircraft within the United States. [Source: Fort Myers News-Press]
Three small towns in Florida rank among the South’s best. Why they’re special
Three Florida destinations are bursting with charm — and rank among the best small towns in the South, a new report finds. The towns made it onto a list of smaller places where “relaxing getaways, cultural immersion, outdoor adventures, and culinary delights” await travelers, according to results published April 9. [Source: Miami Herald]
ALSO AROUND FLORIDA:
› Silicon Valley crypto investors back Clearwater company with $100M
A group of Silicon Valley venture capital firms and angel investors are backing Upexi Inc. with $100 million to fund the company’s expansion into cryptocurrency. GSR Ventures, a crypto-focused venture capital firm in Menlo Park, California, led the private placement offering with an anchor investment, according to documents filed with the U.S. Securities and Exchange Commission.
› Gateway Jax wants to swap downtown land with city of Jacksonville. What does that mean?
The city of Jacksonville wants a new University of Florida graduate campus in downtown. Gateway Jax wants riverfront space next to a park. Now, the two are trying to work out a mutually beneficial plan to swap land parcels in order to each get what they want. See what that could mean for the face of the city and ownership of those plots of land.
› Coalition brings together new projects and opportunities to grow tech talent pipeline in South Florida
When a couple hundred South Florida leaders from companies, universities, bootcamps and community support organizations come together to focus on building a stronger tech talent pipeline come together, new ideas get surfaced, important connections are made, and collaborative efforts strengthen. And it’s not just talk – it’s action.
› The toll road through Split Oak Forest appears to be a done deal
Despite the hopes and efforts of Split Oak Forest’s most zealous defenders, the Central Florida Expressway Authority’s contentious plan to build a stretch of toll road through the prized preserve is speeding ahead. “It’s very frustrating to all of us,” said Orange County commissioner Kelly Martinez Semrad, an outspoken advocate for the forest and staunch foe of the road-building agency’s preferred route for its Osceola Parkway extension.
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› Cocoa Beach adjusts short-term rental fees for AirBnBs, includes condominiums
Cocoa Beach has expanded its enforcement of short-term vacation rentals to include condos and other multifamily residential properties as the city continues to grapple with the growing industry. The measure was approved unanimously by the Cocoa Beach City Commission April 17, restructuring the fees for short-term rental operators in the city.
› In wake of state ban, Boca Raton pitches new homeless outreach partnership with Palm Beach County
Boca Raton sees a first-of-its-kind opportunity in paying up to $160,000 for two county workers who will assist the city’s homeless population, part of a timely response to the state’s new ban against sleeping in public spaces. If approved by the county, Boca Raton would be the first city to employ this type of homeless outreach team in collaboration with the county, but officials hope it’s the first of many.
› JEA plan for reducing sewer overflows takes hit in federal funding reversal
JEA was counting on millions of dollars coming from the federal government for work at its Buckman treatment plant so it could reduce long-standing problems of sanitary sewer overflows and flooding in surrounding neighborhoods. Then a fiscal storm arrived. The Federal Emergency Management Agency decided to wipe out its entire Building Resilient Infrastructure and Communities program that helps state and local governments prepare for natural disasters.
› Kissimmee Commission to select downtown hotel partner in May
The Kissimmee City Commission will vote May 6 on a potential downtown hotel development partner after listening to four proposals during a workshop earlier this week. “Two very different projects, and four very different presentations,” Mayor Jackie Espinoza said, declaring that “Kissimmee is open for business.” The options range from a mid-priced extended-stay hotel to a 10-story luxury convention center hotel on the lakefront with rooms priced at $250 per night.