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Wednesday's Afternoon Update
What you need to know about Florida today
Florida ports see boost in cargo, cruise traffic
Cargo and cruise traffic hit record highs last year at Florida seaports, which took advantage of global supply-chain issues and a desire by people to travel as COVID-19 pandemic restrictions waned, according to an industry report released Wednesday. The annual Seaport Mission Plan by the Florida Ports Council said 10 port facilities handled 114.25 million tons of cargo in 2023, up 1.5 percent from a record 112.5 million tons in 2022. “We have purposely gone out and told vessels to change their course and to pick Florida as their destination for cargo. And they have,” Florida Ports Council President and CEO Mike Rubin said. More from the News Service of Florida.
These Florida metros have seen huge rent spikes. Here’s how much
Florida’s “Fair Market Rent” prices have surged between fiscal years 2023 and 2024, according to the Department of Housing and Urban Development. Fair Market Rent — or FMR — is a measure of how much rent should cost in a given area, depending on factors like the number of bedrooms a given unit has. Thanks to inflation and a huge influx of people moving to the state, rental rates in Florida have been increasing quite a bit. But by how much? More from Click Orlando.
Treasure Island plans to elevate all of its land by 2100
Treasure Island has teed up an ambitious response to the coming onslaught of high seas, hurricanes and other major storms. The city plans to use outside fill dirt to raise the entire island by 2100 as part of its "Terrain Modification Program." That includes all homes, businesses and roads. Right now, codes don't allow for outside fill to be used on development projects. More from the Tampa Bay Business Journal.
Jacksonville Housing Authority CEO: ‘I am being pushed out’
Jacksonville Housing Authority CEO Dwayne Alexander submitted his resignation letter Jan. 29 to the board of commissioners, more than a month after he came under fire following the release of a city investigation into the agency. “I feel like the new administration is improperly pushing me out through the BOC based on the comments made by some of the BOC in the past two months and its actions. Nevertheless, I still found a way to make my job both rewarding and memorable,” Alexander said of the office of Mayor Donna Deegan. More from the Jacksonville Daily Record.
Key donor group declares ‘no confidence’ in Orlando Museum of Art leadership
An influential donor group for the Orlando Museum of Art has issued a vote of no confidence in the current leadership of the embattled museum as it struggles through the scandal surrounding its 2022 showing of disputed paintings by the artist Basquiat. The group, the Friends of American Art, is a collection of roughly 65 individuals who fund purchases for the museum of American art created before 1940. It convened last week for a meeting in which members expressed concerns about how the money they have raised will be spent by the financially reeling museum. More from the Orlando Sentinel.
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Business Profile
Miami startup aims to give retail investors a leg up in the world of short-term rentals
Getting into the short-term rental game can be a lucrative pursuit, with an ROI of up to 15% – double or triple what you can expect from a long-term rental. Yet getting a foothold in the market is even more difficult than climbing on the primary-home property ladder. Miami-based startup Foothold is offering a new alternative: With as little as a $200 crowdfund investment, anybody can potentially start to get the upside from owning short-term rental properties.
» More from Refresh Miami.
Out of the Box
Crews intentionally sink boat to create artificial reef off Florida coast
A sinking boat is normally a bad situation, but on Tuesday, officials intentionally sank a 239-foot boat to create artificial reefs off the coast of Florida. The deployment of R/V DEEP STIM III is 100 feet below the surface and will provide a unique diving experience, along with a 65-foot high-relief site for wildlife habitats.
» Read more from WFLAand the Northwest Florida Daily News.
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