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Tuesday's Daily Pulse
What you need to know about Florida today
Florida mortgage delinquencies rose in second quarter, especially for FHA loans
More homeowners in Florida and nationwide became delinquent on their mortgage payments in the second quarter compared to the first, according to the Mortgage Banker Association’s latest national delinquency survey. In particular, the Federal Housing Administration loans used to help lower-income and first-time buyers afford a house saw a record-breaking spike. Nationally, the delinquency rate for such loans increased to about 15.7 percent — the highest percentage since the association starting measuring in 1979. [Source: Tampa Bay Times]
Scientists say they've made a breakthrough in restoring Florida's coral reef
Scientists at MOTE Marine Laboratory & Aquarium say there's a breakthrough giving hope for rebuilding and restoring reefs that have been disappearing off Florida's coastline. They say coral they've been working to save are spawning near Cook Island in the Florida Keys. They're using a process called micro-fragmentation infusion to get them to reproduce at an accelerated rate after maturing in just five years. [Source: WTSP]
Florida property insurance rates may spike
Florida’s property insurance market is ready for hurricane season after a tumultuous start to the year. But ratepayers may be in for rougher seas. Several Florida insurers filed for premium hikes ranging from 15 to a little more than 31 percent this summer. A number of trends within the property insurance market — including increased costs for reinsurance and the ongoing issue of water damage litigation — are driving up rates. [Source: Tampa Bay Times]
Tourists aren’t back to theme parks just yet, even with deep discounts, expert says
Tourists aren’t ready to come back to the theme parks yet amid the coronavirus pandemic, even as they are offering unprecedented discounts, like Universal Orlando selling unlimited visits for the price of a one-day ticket for Floridians, said industry expert Dennis Spiegel. Speigel talked about the pandemic’s swift and brutal blow to theme parks and what he predicts the future will look like during a recent virtual presentation. He addressed everything from ticket prices to ride delays. [Source: Orlando Sentinel]
Increasing chances that 2 tropical waves may become cyclones in next 5 days, NHC says
Two disturbances in the Atlantic Ocean were each given higher chances of developing into tropical cyclones in the next five days. One of the tropical waves is a fast-moving system located about 200 miles east of the Windward Islands on the eastern rim of the Caribbean. The other tropical wave is just west of the African coast. Both are generating large areas of rain and clouds. [Source: South Florida Sun-Sentinel]
ALSO AROUND FLORIDA:
› Orlando bars and breweries pitch ideas for reopening with state, but there’s no date in sight
Armed with new ideas, Florida’s top business regulator is considering his options after meeting with bar and brewery owners across Florida to discuss reopening. Halsey Beshears, secretary of the Department of Business and Professional Regulation, met with owners in Orlando during two meetings Sunday that like other gatherings across the state was closed to news reporters. But both the department and people who attended the meetings said there was no timeline for reopening.
› Embry-Riddle Research Park revs up local economy in Daytona Beach, Volusia County
When Embry-Riddle Aeronautical University opened the first building at its research park here 3½ years ago, it was hailed as the start of a “global engineering powerhouse.” And one capable of eventually creating thousands of high-paying jobs.
› Movie house. Nightclub. Adult cinema. Video studio. What’s next for the Paris Theater?
Over the past 75 years, Miami Beach’s Paris Theater has played the roles of theater, Indie film house, adult cinema, nightclub, music studio. Next up: restaurant. Mathieu Massa, owner and CEO of the Brickell-based Massa Investment Group and Mr. Hospitality, was set to present his conversion plans for the theater last week to the Miami Beach Historic Preservation Board, according to an application submitted to the city. The board moved the item to its September meeting.
› JEA will pay $1 million more per year for Plant Vogtle electricity in MEAG settlement
A settlement of JEA's long-shot attempt to void an agreement for buying power from the Plant Vogtle nuclear plant will require JEA to pay a total of $20 million more over a 20-year period for purchasing electricity from the nuclear plant.
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