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Council OKs Cuban talk
The Tampa City Council approved a measure aimed at bringing together city and Hillsborough County leaders to develop a plan for improving local relations with Cuba.
The purpose of the measure is to pursue new economic ties with the island nation, including expanding trade of agricultural and manufactured goods by way of the Port of Tampa and establishing direct flights at Tampa International Airport.
Supporters say such decisions should be made locally, rather than continuing to abide by the federal trade embargo in place since 1962. Several business and political leaders have sought to re-establish local ties to Cuba for many years, even meeting with Fidel Castro.
Palm Bank tries again
Tampa-based Palm Bank will launch another capital raising campaign after the recent withdrawal of a takeover bid by a private investment group.
The $160-million bank, which has only three offices, had previously sought to raise $10 million when it received a recapitalization offer from a group led by Marty Adams, former president and CEO of Huntington Bancshares. Bank executives said the proposed transaction would be difficult in the current regulatory environment, therefore both sides agreed to walk away.
Palm Bank wants new capital on hand to be able to meet anticipated demand for loans when the economy recovers, as well as what it sees as current pent-up demand.
SBA offers freeze loans
Businesses hurt by unusually cold weather in January can apply for low-interest federal disaster loans from the U.S. Small Business Administration. Hillsborough, Pinellas, Polk and Manatee counties are within the disaster declaration area.
Loans up to $200,000 can be sought for damage to real estate caused by freezing temperatures and sinkholes, along with up to $40,000 for damage to personal property. Farms and buildings in Plant City were especially affected by record low temperatures between Jan. 2 and Feb. 1.
Crist approves incentives
Gov. Charlie Crist approved spending $130 million in subsidies for the Jackson Laboratory to establish a research facility in eastern Collier County.
The incentive now requires a local match for the Maine-based genetic research nonprofit organization. If Collier approves the local match, construction could begin in the fall on 50 acres to be donated by the Barron Collier Cos.
The facility on Oil Well Road will be near Ave Maria, a town Barron Collier and Domino's Pizza founder Tom Monaghan are developing. It is home to Ave Maria University, a new Catholic educational institution.
Economic development officials hope a biomedical village will spring up around Jackson Laboratory and deliver high-paying jobs to an area that's been hard hit by the real estate downturn.
Airport traffic falls
Airline passenger traffic through Southwest Florida International Airport fell 4.3% in April compared with the same month a year ago. In April, the Fort Myers airport reported 813,829 passengers passed through the terminal. Year to date, passenger traffic is down 2.4% from the same period in 2009. The five largest carriers at the Fort Myers airport are Delta, AirTran, JetBlue, Southwest and Continental.
Beasley manages stations
Beasley Broadcast Group has agreed to manage two radio stations that its chairman and chief executive officer, George Beasley, is acquiring in Las Vegas.
George Beasley's GGB Las Vegas LLC is acquiring two FM radio stations in Las Vegas for $8.5 million and plans to complete the transaction in the third quarter of this year.
GGB and Beasley Broadcast's agreement calls for a split of the advertising revenues the two stations generate.
Organization buys building
The Forty Carrots Family Center, a Sarasota-based nonprofit group that runs early childhood and parenting education classes, has completed the purchase of its headquarters building.
The building on Tuttle Avenue, a few miles east of downtown Sarasota, sold for $1.065 million — funds the nonprofit raised in small and medium-sized donations during the last three years. The William G. Selby and Marie Selby Foundation awarded the center a $50,000 grant to complete the purchase.
Forty Carrots, which counts several Sarasota business leaders as board members and donors, now seeks donations for a building reserve and maintenance fund. It has raised $70,000 for that phase and seeks another $180,000.
More taxes loom
Sarasota County commissioners will consider a tourism tax hike one month after they raised the levy to 4.5% from 4%.
The tax, charged on every hotel room sold in the county, can reach 5% under state law. Manatee County has already raised its bed tax to 5%.
Sarasota County estimates that an extra half-percent tax on all room sales will be worth at least $1 million a year to the county. Some local hoteliers, however, worry that tourists could begin to seek other vacation spots if fees grow to high, especially in a recession.
Baseball project advances
Sarasota County recently awarded more than $18 million in contracts for a refurbished spring training stadium for the Baltimore Orioles, even though the original deal to woo the team from Fort Lauderdale is in legal trouble.
Two citizens groups have sued the county under potential Florida sunshine law violations and other allegations, including possible bid rigging. But the county has come up with a portion of the funding to get going on the project while the case is pending. A trial has been scheduled for June.
County commissioners awarded a major renovation contract to Sarasota-based W.G. Mills. The firm will partner with Hunt Construction, a nationwide arena and stadium contractor, for some of the work. The county also awarded Lakewood Ranch-based Tandem Construction the contract for work on a separate facility for the team east of Interstate 75.
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