- October 14, 2024
-
-
Loading
Loading
Charlotte suspends taxes
Charlotte County commissioners suspended most taxes on new residential and commercial construction for one year in an effort to promote growth and stimulate construction.
Commissioners suspended the taxes known as impact fees that are used pay for libraries, parks, law enforcement, fire and public buildings. They left the fees for roads in place, however.
With the suspension, the Charlotte County Economic Development Office says taxes levied on new construction will be cut in half.
HMA buys hospitals
Health Management Associates, the Naples-based hospital operator, says it has agreed to acquire Mercy Health Partners in east Tennessee.
HMA will acquire or lease Mercy Health's seven hospitals and 1,323 beds for $525 million. Mercy Health, which generates $600 million in annual revenues, is a subsidiary of Catholic Health Partners.
The deal for the Knoxville-area hospitals is expected to be completed Oct. 1. Following the transaction, HMA will operate 66 hospitals with about 10,300 beds.
Building permits still flat
Builders in June pulled 45 permits for the construction of new single-family homes in Lee County compared with 46 in the same month a year ago, according to the Lee County Department of Community Development.
Construction permits for multi-family housing also remained low. Builders pulled two permits for multi-family homes in June, compared with four in June 2010.
Commercial construction slowed in June from a year ago. Builders pulled permits worth $2.5 million in June, compared with $4.9 million in the same month in 2010.
Bank opens branches
Florida Community Bank has opened two branches in Naples.
The bank, which was acquired by a group of investors after the Immokalee-based financial institution failed in early 2010, is now a division of Premier American Bank with 40 branch locations.
The new Naples branches are located on North Tamiami Trail and Vanderbilt Beach Road.
Walter Energy CEO resigns
The CEO of one of Tampa's largest companies resigned this week, as Keith Calder stepped down from his role with Walter Energy, the coal producer with $2.3 billion in 2010 pro forma revenues.
“I do believe Walter Energy has immense potential, and I am sure it will be realized. That said, it is now time for me to move on and pursue other interests,” Calder says in a prepared statement, citing “differences of opinion concerning management philosophy” as the driving force behind his resignation.
Joseph Leonard, who served as interim CEO from March 2010 to March 2011, will resume that role until a new permanent CEO is found.
Tampa home prices fall 12%
Distressed sales pushed home prices lower in the Tampa-St. Petersburg-Clearwater metro area in May, down 12.71% over the year according to an index monitored by CoreLogic.
CoreLogic also tracks price changes for non-distressed sales, which fell just 1.42% in the Tampa Bay area.
The contrast was less stark in Cape Coral-Fort Myers, suggesting distressed sales may be slowing there. CoreLogic's home price index for that area showed a 3.04% price decrease for all sales, compared to a 2.73% decline when excluding distressed sales.
North Port-Bradenton-Sarasota would have seen a 0.46% increase in home prices if not for distressed sales, CoreLogic estimates. Instead, prices fell 6.92% over the year.
Firm declares bankruptcy
Manatee County-based Teltronics, which manufactures and sells switches, panels and other phone and communication device-related products, has filed for Chapter 11 bankruptcy.
Documents filed with the U.S. Bankruptcy Court for the Middle District of Florida show Teltronics had $19.8 million in liabilities on its balance sheet at the time of the filing, against $9.1 million in assets. Teltronics posted $1 million in operating losses in the first six months of last year, financial records show, even though it earned a small operating profit in the 2010 third quarter.
The publicly traded firm has 133 employees. In 2009 Teltornics moved from a facility in south Manatee County to a larger one in north Manatee County, in Palmetto.
Foreclosure rates rise
The North Port-Bradenton-Sarasota metro area remains a statewide leader in the amount of properties in some state of foreclosure.
The region's foreclosure rate for outstanding mortgage loans was 12.09% in April, according to real estate data firm CoreLogic. That's an increase of about 2% from April 2010. The region's 90-day delinquency rate, meanwhile, is 16.48%, according to CoreLogic.
Sarasota meters get bagged
A paid-parking system in downtown Sarasota that debuted in May has been put on hold until October, the result of complaints about the system from downtown business owners and residents.
Sarasota city officials debated the need for downtown meters for several years before they ultimately decided to install a digital system as well as meters on several streets.
But 17 downtown business owners and residents pleaded with the board to eliminate the parking meters at the June 20 City Commission meeting. The group says the meters harm business and makes downtown unfriendly for patrons.
Officials decided 3-2 to stop charging visitors for parking at least until Oct. 1.
