Wednesday's Afternoon Update

What you need to know about Florida today

| 12/4/2013

Florida cities lead nation in high-end foreclosures

Two Florida cities lead the nation in foreclosures of high-end properties worth $5 million or more. The research firm RealtyTrac said in a report Wednesday that Miami and Orlando were at the top of the list of foreclosure activity on homes in the $5 million-plus range. More at the AP.

Tax breaks for Office Depot stall in Illinois

Office Depot, which recently merged with Illinois-based OfficeMax, was approved for tax breaks by the Illinois Senate that could sway the office-supply company toward a northern headquarters. But the Illinois House adjourned Tuesday, stalling the bill. More from the South Florida Sun-Sentinel and the Chicago Tribune.

Florida Poly opens first building on Lakeland campus

Education

Private Funds, Public Schools

The Community Foundation for Northeast Florida launched a fundraising campaign in April called “Quality Education for All.” The premise was simple: Raise $50 million to pay for more high-quality public school teachers in high-demand areas like math and science. It was the culmination of a 10-year foundation initiative to find ways to channel donor dollars to improve public schools.

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Today is your first chance to set foot onto the campus of the Tampa Bay Area's newest university. The school is under construction on the east side of Lakeland and set to open in just a few months. They have the concept: focusing entirely on science and technology, with hands-on learning. More at WTSP.

Art Basel chief: We’re not going anywhere

Art Basel Miami Beach now feels confident the show can go on during an extensive renovation of the Miami Beach Convention Center, with fair executives backing off contingency plans that could have sent the major tourism event to San Francisco once construction began, Art Basel’s director said Tuesday. More at the Miami Herald.

Saveology relocates headquarters, call centers

Saveology, a deals company that in 2012 transformed a renovated Margate retail space into a showy headquarters, promising to create 700 jobs over three years, has relocated to a smaller office in Tamarac and moved most of its call center operations to Jamaica. More at the South Florida Sun-Sentinel.

Out of the Box
Helmsley Sandcastle Hotel

One of the oldest beachfront hotels in Southwest Florida and a property once owned by a multimillionaire Maltese lapdog is listed for sale. The $4 billion charitable trust that owns the Helmsley Sandcastle Hotel on Lido Key hired a commercial brokerage to market the property, part of a plan to shed millions of dollars' worth of real estate holdings nationwide.