Friday's Daily Pulse
Florida property insurance market remains challenging despite special session
Southern Fidelity Insurance Company is the latest property insurer to shut down in Florida. "Effective July 15, 2022, all Southern Fidelity policies are going to expire," said Mark Friedlander of the Insurance Information Institute.
This is the fourth insurer ordered into liquidation so far this year, leaving an estimated 78,000 policyholders in Florida scrambling to find new coverage in 30 days, just as hurricane season gets underway. "Because the Florida property insurance market is so unstable right now, it's very difficult to find coverage for your home," Friedlander said. That's why Friedlander says most of those impacted will likely end up with Citizens, the state-created insurer. [Source: WTVJ]
Business Beat - Week of July 15
Get the top news-to-know with Florida Trend's headline-focused video newsbrief, hosted by digital content specialist Aimée Alexander.
'Pseudo-science': Yale review blasts Florida plan to deny trans treatment under Medicaid
A collection of Yale University professors is fighting against a DeSantis administration plan to deny Medicaid insurance coverage for treatments including puberty-blockers and hormone therapy for Florida's low-income transgender individuals. In a report from Yale’s School of Law and School of Medicine, researchers at the Ivy League institution rebuked the controversial plan and decried it as a “discriminatory policy" based upon "pseudo-science." Members of the University of Texas Southwestern and University of Alabama also contributed to the “critical review.” [Source: Tallahassee Democrat]
Public to vote on buffer to avoid losing Miami International Airport or PortMiami
Commissioners adopted a resolution asking voters in November to amend the Home Rule Charter to provide that voters must approve in advance any commission decision to transfer Miami International Airport, PortMiami or Miami-Dade Expressway Authority ownership or authority to any government entity. The legislation came a week after the Miami-Dade Expressway Authority won a judgment that would close litigation against the state Legislature-created Greater Miami Expressway Agency that was signed into law by Gov. Ron DeSantis to take control of the assets of the authority. [Source: Miami Today]
'Unfortunate and discriminatory': Black farmers feel left out of Florida's medical marijuana system
Twenty-two medical marijuana licenses have been issued but none so far to a Black farmer, despite the aim of the legislature in 2016. In the years since the legislature set aside a medical marijuana license for a Black farmer, the licenses have generated enormous revenues from some of the license holders - frustrating the Black farmers who wonder how they can catch up. [Source: The Ledger]
Florida citrus growers experienced the biggest production drop in eight decades
The U.S. Department of Agriculture on Tuesday, in a final report for the 2021-2022 season, said growers produced 40.95 million boxes of oranges, the lowest amount since the 1942-1943 season. That was up slightly from a June forecast of 40.7 million boxes — but was a 22.7 percent decline from the 2020-2021 season. Similarly, grapefruit production ended the season 19.5 percent below the 2020-2021 total, and specialty fruits — tangerines and tangelos — were down 15.7 percent. [Source: WLRN]
ALSO AROUND FLORIDA:
› Bank of Central Florida CEO: 'Lakeland is creating its own identity' [Tampa Bay Business Journal]
Bank of Central Florida commands the second-largest share of the Lakeland market behind Wells Fargo and has nearly doubled its assets from $514 million in 2019 to over $1.1 billion in 2022.
› Tallahassee Airport Project Alpha revealed - North American Aerospace Industries [WTXL]
Tallahassee airport developmental projects estimated to bring in over 600 million. More details are emerging with Project Alpha, starting with the name of the company that is behind a proposed partnership with Tallahassee's airport--Project Alpha North American Aerospace Industries which focuses on aircraft breakdown and recycling aircraft parts.
› Tampa residents want more money allocated to affordable housing initiatives [WUSF]
The Tampa Bay Community Action Committee plans to present a budget ordinance to the city council that would reallocate monies from the general fund and American Rescue Plan dollars toward affordable housing assistance.
› Fort Myers negotiations with SunTex leaving some uneasy at the yacht basin [WINK]
Some people that live aboard boats in the Fort Myers Yacht Basin are scared of what will happen to them if the city picks the company SunTex to develop the waterfront. Many who call the yacht basin home are displaying S.O.S. signs on their bots. In this case, S.O.S. stands for ‘Save Our Slips’.
Go to page 2 for more stories ...
› Massive indoor water park resort coming to Florida in 2024 [WJXT]
Great Wolf Lodge to make a splash into the Sunshine State -- Thunderstorms can’t put a damper on your day if you’re indoors!
› Virtual parking permits coming to UF [UF News]
The University of Florida will transition to virtual parking permits this fall. The new virtual parking registration system for the 2022-23 academic year will replace the use of physical parking decals. Instead, the permit holder’s license plate will serve as the parking permit.
› SunRunner, first bus rapid transit line in Tampa Bay, is opening in October [Tampa Bay Times]
The 16-stop route will take riders from downtown St. Petersburg to the beaches, free of charge for the first six months. The vehicles have been purchased, the designs finalized and now Tampa Bay’s first bus rapid transit system has an official opening date: Oct. 21.