- December 15, 2025
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John's Pass rebound
The owner of John's Pass Village in Madeira Beach is hoping for a quick rebound from its Chapter 11 bankruptcy filing last month after adding a new restaurant to its mix.
Hubbard Properties leased part of its property to Hooters, which opened a restaurant Feb. 14. Hooters' neighbors include the Friendly Fisherman Seafood Restaurant, a longtime seafood restaurant, and Bubba Gump Shrimp Co., which opened in 2008.
The Hubbard family has owned its property since 1976 and completed a $20-million renovation and parking garage addition three years ago.
The recession and last year's BP oil spill reduced occupancy at the retail complex to 63%, but John's Pass could be full again soon, company President Patricia Hubbard said.
THA goes solar
The Tampa Housing Authority is partnering with Milwaukee-based Johnson Controls Inc. to build a 330-kilowatt solar power generating system. The large photovoltaic panel system will supply energy to a senior community with 450 residents.
The 14-year program is expected to save tremendously on utilities, generating 431,638 kilowatt-hours of electricity annually. It would also cut greenhouse gas emissions by 683,426 pounds, equal to permanently parking 59 cars or planting 66 acres of trees per year.
The project received $2.1 million in federal stimulus funds through the American Recovery and Reinvestment Act.
USAA hiring 160
USAA, one of the Tampa Bay area's largest employers, said it will add 160 workers to its local payroll this year. The job additions began earlier this year and will continue through March.
The positions will support insurance and financial services offered by San Antonio, Texas-based USAA, which serves military personnel and their families. The company, which has operated in Tampa since the 1970s, has more than 2,000 local employees.
Customer growth is driving the need for extra workers, specifically in the mortgage department, according to a USAA executive. The new employees will be stationed at a remote location from the company's northeast Tampa campus along Interstate 75.
Bank purchases peer
The parent company of Lakewood Ranch-based Community Bank, CBM Florida Holding Co., acquired Pinellas Park-based First Community Bank Corp. of America.
CBM Florida paid $10 million in cash for First Community Bank. The deal was announced Feb. 11 and is expected to close by the middle of the year.
Community Bank, formerly known as Community Bank of Manatee, will grow to $700 million in assets and 17 branches throughout the Gulf Coast when the deal closes. Community Bank executives say they plan to inject $20 million in additional capital into the combined bank given the recent capital shortage issues at First Community Bank.
Sarasota market improves
The Sarasota residential real estate market improved in several areas on an annual basis from 2009 to 2010, according to data released by research firm Metrostudy.
For one, the area posted 1,830 closings in 2010, up 18% from the prior year. Of those closings, 544 took place in the fourth quarter, which gave the region its best quarter for closings since the end of 2008. Housing starts increased as well, with 1,679 in 2010, up 40.6% over 2009, according to Metrostudy.
Moreover, inventory in Sarasota fell 14.3% over the course of 2010. The market now has a total inventory of 906 units, representing a 5.9-month supply.
Politician reimburses county
Former Manatee County Commissioner Gwendolyn Brown reimbursed the county $1,800 in a settlement with the Florida Commission on Ethics, which determined she misused her position while still in office last year.
The ethics commission ruled there was sufficient evidence to prove Brown used county employees, copy machines, computers, email and mail couriers to assist with outside employment and her campaign for reelection.
Brown, a Democrat first elected to the Manatee County Commission in 1994, lost a primary election to local attorney Michael Gallen in August. Gallen won a seat on the commission in the general election.
Neogenomics posts loss
Fort Myers-based cancer-testing laboratory Neogenomics reported a $3.3 million net loss on revenues of $34.4 million in 2010.
Revenues in 2010 grew 17%, but average revenue per test fell 7% because of new contracts with three managed-care companies. Meanwhile, Neogenomics boosted marketing and administrative expenses.
In a statement, Neogenomics Chairman and CEO Douglas Van Oort says the company will return to profitability later in 2011 following a plan of aggressive sales and cost controls.
Alico reports loss
Alico, the La Belle-based agriculture company, posted a $92,000 fourth-quarter loss on revenues of $16.6 million.
That compares with a net loss of $1.4 million on $14.1 million in revenues in the fourth quarter of 2009. Alico President and CEO JD Alexander attributed the improved performance to rising citrus and sugarcane prices.
Operating results also improved from cost-cutting efforts in 2010, Alexander says in a statement.
Alico owns 139,607 acres in Collier, Lee, Polk, Glades and Hendry counties. Its stock is publicly traded (symbol: ALCO; recent price: $25).
Hotel revenues flat
Revenues at hotels and motels in Lee County in 2010 were flat over 2009, reflecting cautious spending by tourists and widespread room discounting by hoteliers, according to data from the Lee County Visitor aand Convention Bureau.
Revenue per available room, a function of occupancy and average daily rate, remained was $65.29 in 2010, virtually unchanged from the $65.27 in 2009.
Hoteliers in Lee continued to discount their rooms in December, however. Compared with December 2009, revenue per available room fell 3.5% to $46.32. Average occupancies rose 6.5% to 48.1%, but average daily rates fell 9.3% to $96.22.
