Florida budget in ‘good shape,' but surpluses will dip

State budget leaders expressed some caution Friday that general-revenue surpluses are projected to decline over the next three years, and that’s without factoring in the impact of Hurricane Idalia. The Joint Legislative Budget Commission, which is made up of House and Senate members, received a presentation about a long-range financial outlook. House Appropriations Chairman Tom Leek, R-Ormond Beach, said the “state's budget is in good shape.” But as lawmakers prepare to piece together a new budget during the 2024 legislative session, Leek acknowledged they need to be aware that general-fund surpluses are forecast to go from $7 billion in the 2024-2025 fiscal year to to $2.72 billion in the 2026-2027 fiscal year. [Source: News Service of Florida]

The disaster era business loans that are becoming key to Main Street’s survival

Widespread damage from Hawaii’s recent wildfires and Hurricane Idalia in Florida underscores the costly effects of natural disasters on small businesses. For business owners, it helps to know options to recover and rebuild exist, including federal loans, grants and state and local funding. This is especially important given the spate of natural disasters impacting the U.S. [Source: CNBC]

As Florida citrus loses its sweet taste, scientists are on the hunt for solutions

Citrus greening has become so pervasive in Florida orange groves that the state’s juice processors have been forced to import Brazilian oranges, which are sweeter, to mix with Florida’s crop so the juice meets the FDA’s Brix standards. Now, in an effort to find another solution, flavor chemists are investigating how natural chemical compounds can produce a sweeter, tastier juice. [Source: Sierra Magazine]

What to know about Florida's 'classic' alternative to the SAT

Students applying to Florida's state universities will now be able to submit exam scores from a conservative and Christian-backed alternative to the SAT and ACT, known as the Classic Learning Test. The CLT is most commonly taken by students who are in private schools or home-schooled. Over 200 colleges currently accept the test, many of which are small, private or faith-based. The test was launched in 2015. [Source: NPR]

Hurricane Lee to pose ‘dangerous’ risk at South Florida beaches

Hurricane Lee barreled Sunday through open waters just northeast of the Caribbean, unleashing heavy swell on several islands. The National Hurricane Center noted that dangerous surf and rip currents were expected to hit most of the U.S. East Coast starting Sunday, but that the hurricane’s impact beyond that is still unclear. [Source: Tampa Bay Times]

ALSO AROUND FLORIDA:

› Draper's new $50M high-tech Titusville campus will test nuclear deterrence systems [Orlando Inno]
Research and development nonprofit Draper will develop simulated environments at its future $50 million Titusville campus to test nuclear deterrence systems such as hypersonic missiles and Trident II D5 missiles. That's according to Vice President and General Manager of Navy Strategic Systems Robert Bacon. The company chose Titusville after looking at many sites and finding that Riverfront Center was most ready for a quick build-out, he said.

› CSX names rail industry veteran as new chief operating officer [Jacksonville Business Journal]
A lifelong railroader with decades of experience in Canada has joined CSX Corp. as chief operating officer, replacing the recently departed Jamie Boychuk. New COO Mike Cory spent 39 years with Canadian National Railway, including serving as chief operating officer from 2016 to 2019. Canadian National was where former CSX CEO E. Hunter Harrison first deployed the precision scheduled railroading operating model on a large scale

› PortMiami dredging killed 80 times more coral than expected. More digging coming soon [Miami Herald]
When the U.S. Army Corps of Engineers first set out to deepen PortMiami to make room for bigger and more ships in 2013, it estimated all that work would kill about 3.3 acres of corals. A new report from the National Oceanic and Atmospheric Administration found the toll was exponentially greater — 278 acres of coral reef gone forever.

› Rays ‘highly optimistic’ about getting St. Petersburg stadium deal done [Tampa Bay Times]
Rays principal owner Stuart Sternberg said Friday the team is willing to pay more than half of the cost of a proposed new $1.2 billion St. Petersburg stadium, and he is “highly optimistic” about getting a deal done by year’s end. With a commitment to potentially exceed $600 million for the domed stadium near the current Tropicana Field site, Sternberg said the Rays have been actively seeking investors to provide some of that cash in exchange for a share in the team.

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› DeSantis’ affordable housing chief placed on leave again [Orlando Sentinel]
Gov. Ron DeSantis’ affordable housing director was placed on administrative leave for a second time after an investigation determined he created a hostile work environment and violated other policies. During a meeting Friday, the board of the Florida Housing Finance Corporation voted to place its executive director, Mike DiNapoli, on paid leave for the second time in two months.

› Disney Cruise Line drops name updates for new ship, Bahamas destination [South Florida Sun-Sentinel]
Disney Cruise Line revealed the names of what will be its seventh ship in the fleet as well as its new Bahamas destination opening next summer during presentations at the Destination D23 events at Walt Disney World on Saturday. Disney Adventure is the new name for what had been the unfinished Global Dream cruise ship that DCL acquired this year from the Genting Hong Kong group that ran Dream Cruises, Crystal Cruises and Star Cruises before it filed for bankruptcy.

› Innovation at the forefront at Florida Automated Vehicles Summit in Tampa [Fox 13]
The Florida Automated Vehicle Summit is rolling into Tampa this weekend, linking hundreds of vendors from across the globe with local and state agencies and leaders. Former Florida Senator Jeff Brandes said the summit is a good chance for the state to keep pace with the industry.

› ‘This is my mission’: New World Symphony’s new artistic director ready for his first season [Miami Herald]
Stéphane Denève might be alone in this opinion, but he thinks summer break is too long. The world renowned conductor is on the heels of his inaugural season as the artistic director of the New World Symphony, Miami’s prestigious three-year fellowship program and ensemble for young musicians. He can’t wait to get started. “I feel impatient,” Denève said during a recent video call. “I can’t wait to meet the new fellows.”