August 9, 2022

Tuesday's Afternoon Update

What you need to know about Florida today

| 3/29/2022

Grim new developments reveal more trouble in Florida home insurance market

Florida’s home insurance availability crisis continues to claim new victims, and worries are mounting that more companies could be declared insolvent as this year’s hurricane season draws near. The industry’s financial storm clouds have prompted fears of collapsing companies and the massive growth of state-owned Citizens Property Insurance Corp., the insurer of last resort. More from the South Florida Sun-Sentinel.

South Florida-based Seacoast Bank expands to Jacksonville, citing high growth in the area

Seacoast Banking Corporation of Florida, one of Florida’s largest community banks, recently opened a location in Jacksonville with plans to develop more in the Northeast Florida community. Seacoast Bank began in 1933 in Martin County and has primarily served the South Florida area over the last 90 years. It now boasts locations around the state, spanning from Ormond Beach to Fort Lauderdale and from Tampa to Daytona. More from the Florida Times-Union.

Techstars brings accelerator for diverse founders to Miami

One of the tech sector's premier startup accelerators will bring its programming to South Florida. Miami will be one of the first U.S. cities to host a new Techstars accelerator for diverse founders. The remote-first program, powered by an $80 million investment from J.P. Morgan Chase, is focused on bringing more funding and support to entrepreneurs from Black, Hispanic, indigenous and other underrepresented backgrounds. More from the MiamiINNO.

Universal gives first look at affordable ‘Catchlight Crossings’ community

Universal Parks & Resorts and Wendover Housing Partners have revealed a first look at the theme park’s affordable housing community, a 1,000-unit mixed-income development with on-site tuition-free preschool and medical care, 16,000 square feet of retail space, fitness trails and a transportation hub for buses, ridesharing and employer shuttles. The plan for the community, named Catchlight Crossings, was submitted to the Orange County Planning and Development department Monday. More from the Orlando Sentinel .

Pasco considers raising tourist tax

Pasco County’s Tourist Development Council will bring a pitch to county commissioners next week to increase the county tourist tax from four cents on the dollar to five in hopes of expanding its popular Experience Florida’s Sports Coast brand internationally. A public hearing on the tourist tax increase is set for April 5. More from the Tampa Bay Times.

Sports Business
Net benefits: Financial services firm reaps rewards of athlete sponsorship

 St. Petersburg-based Dynasty Financial Partners’ sponsorship of Women’s Tennis Association star Danielle Collins continues to pay off as the St. Pete native has started the 2022 season with some of the best results of her career. Collins, 28, made it to the finals of the Australian Open in January, losing to Aussie Ash Barty. That run catapulted Collins’ ranking to No. 10 in the world — the highest of her career.

» More from the Business Observer.

 

Legal Trends
Gambling grudge match continues in court

floridaIt’s been almost two months since backers of an effort to bring Las Vegas-style casino gambling to North Florida failed to submit enough signatures in time to make it onto the November ballot, but legal jousting over the proposal hasn’t abated. The fight over the proposed constitutional amendment has turned into a throw-down between Las Vegas Sands Corp. and the Seminole Tribe of Florida, along with people, businesses and other entities aligned with the gambling behemoths.

» Read more from the News Service of Florida.

Tags: Daily Pulse, Afternoon Pulse

In case you missed it:

Florida Trend Video Pick

Ybor City restaurant set to close after 93 years
Ybor City restaurant set to close after 93 years

After 93 years, Tony's Ybor Restaurant will be closing early next month. Larry Scaglione says his grandfather started the restaurant off 22nd Street in 1929.

Video Picks | Viewpoints@FloridaTrend

Ballot Box

Should recreational marijuana for ages 21 and up be legalized in Florida?

  • Absolutely
  • No way
  • Undecided/need more information
  • Other (Please share your comments in the comment section below)

See Results

Florida Trend Media Company
490 1st Ave S
St Petersburg, FL 33701
727.821.5800

© Copyright 2022 Trend Magazines Inc. All rights reserved.