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Pier to be demolished
St. Petersburg's Pier will be reduced to rubble soon. The City Council endorsed a recommendation by Mayor Bill Foster to demolish the upside-down pyramid, replacing the structure with a new design slightly closer to land.
The existing 1973 landmark, which replaced a Mediterranean design that dated back to 1926 and was torn down in 1967, has become subject to disrepair and retail vacancy in recent years. It had been set for an overhaul costing up to $50 million.
The council is expected to choose a finalist to design a new city pier to open in 2012.
Area hotels rebound
July hotel occupancy in the Tampa Bay area improved slightly over the year, climbing to 54.4% from 51.5% the same month in 2009, according to Smith Travel Research of Hendersonville, Tenn. The average daily rate for rooms in the Tampa-St. Petersburg market declined only about $2 over the year to $86. But revenue per available room increased 3.1% in that time to $46.80.
Mall permit scuttled
Developers of the proposed Cypress Creek Town Center shopping mall in south Pasco County must start over after a federal judge revoked most of the project's previous wetlands permit.
The Richard E. Jacobs Group LLC of Cleveland and Tampa-based Sierra Properties have partnered on the indoor mall at Interstate 75 and State Road 56 in Wesley Chapel for much of the last decade. The 2007 permit for the mall, which will total one million square feet, was challenged by the Sierra Club over its impact to nearby drinking water supplies.
U.S District Judge Royce Lamberth criticized the U.S. Army Corps of Engineers for not including enough environmental protection measures in issuing the permit, pointing to a prior violation of the Clean Water Act that brought a $297,000 fine two years ago. Jacobs and Sierra must now seek a new permit.
Alico CFO resigns
Patrick Murphy, Alico Inc.'s chief financial officer, plans to resign once a successor is found.
The La Belle-based land-management company says Murphy is resigning for “personal reasons” and “to pursue other interests.” Alico says Murphy's resignation is not due to any disagreements with the company and he will remain until a new CFO is appointed to ensure a smooth transition.
Murphy has served Alico as its CFO for five years and as controller and in other accounting functions.
Hodges plans expansion
Naples-based Hodges University plans to expand and renovate its three locations in Fort Myers, Immokalee and Naples due to surging student enrollments.
Hodges plans to build a 45,000-square-foot building on its Fort Myers campus, adjacent to the existing 60,000-square-foot building. The $12 million project on Colonial Boulevard is scheduled to be completed in early 2012.
In Naples, the private university plans to increase parking space and build another access road to its campus. In Immokalee, Hodges plans to remodel classrooms.
Airport traffic steady
The BP oil spill doesn't seem to have materially impacted travel to and from Fort Myers in July, airport figures show.
Passenger traffic at Southwest Florida International Airport fell to 490,227 in July, down 0.4% from the same month a year ago. Takeoffs and landings rose 2.8% in the same period. Year-to-date, passenger traffic is down 0.8%.
The top five airlines by passenger count in July were Delta, AirTran, Southwest, JetBlue and USAirways.
Hotel approval denied
A downtown Sarasota property owner was rejected in his initial efforts to build an 18-story hotel.
The city of Sarasota's Neighborhoods and Development Services Department denied Harry Walia's zoning application to turn the property, on Main Street and Pineapple Avenue, into a 100-room hotel. In turning away Walia, city officials said the hotel would be too tall and would not mesh with some nearby historic properties.
The site in question is currently home to Patrick's restaurant, a popular bar and eatery. Walia said he plans to appeal the decision.
Local scholarships offered
The State College of Florida in Bradenton and Florida Gulf Coast University in Fort Myers have partnered in a series of potential scholarships.
The agreement calls for Gulf Coast University to offer up to 72 credit-hours of free tuition to any student who graduates from SCF's public charter collegiate school, which opened Aug. 22 with sixth and seventh graders. Students at the new school will have an opportunity to simultaneously earn a high school diploma and a two-year college degree from SCF.
The students who earn both the degree and the diploma will then be offered the scholarships to attend FGCU. Officials at SCF, which was formerly known as Manatee Community College, say the total value of the scholarships could be $1 million annually.
Bank turns profit
Bradenton-based Horizon Bank made a slight profit in the second quarter, but the bank still faces challenges in its ongoing quest for survival.
The bank's parent, Horizon Bancorporation Inc., earned $117,000 in net income for the three months that ended June 30. Bank executives say the profit stems from the bank's ability to avoid write downs and additions to its allowance for loan and lease losses.
Horizon lost $6.9 million in the second quarter of 2009, but the bank's year-over-year earning improvement is trumped by its overall lack of capital. In fact, in its most recent Securities and Exchange Commission filing, the bank stated that “whether it ultimately survives as an independent entity will depend entirely on” its current stock offering, which can be extended into November. The bank seeks to raise at least $8.5 million.
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