May 2007
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Wednesday May 30, 2007
Slow Market - No Problem, Cedar Grove Creates CRA
Billy O’Neal is a real estate investment expert, author, speaker, and personal coach who will be appearing in Panama City, FL on June 8th & 9th. For more information on this seminar or to register, go to RighteouslyRich.com or call 850-625-7251.
"Are you interested in real estate but fearful because of the “bubble” everyone has been talking about? So often, the same individuals who avoid real estate investing because of worries regarding the market will invest heavily in stocks, knowing full-well the volatility of that market. They argue, “Buy stocks and hold onto them for the long-term,” knowing that they have little control or influence over their investment and are simply left to ride the economic tide. . ." (more)
"The Cedar Grove Commission on Tuesday formally created two community redevelopment areas, with no public objections. Because it takes years to collect enough property tax revenue to complete comprehensive improvements, the city plans to authorize bonds up to $65 million to pay more quickly for redevelopment. The commission did not authorize the sale of bonds Tuesday during the special meeting, only allowing itself the authority to do so in the future. . ." (more)
posted by Jason at 7:35 AM
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Tuesday May 29, 2007
New Flood Zone Map, Bridge Harbor seeks CDD
FEMA is working on new flood maps to more accurately designate flood zones. The maps will be available online in a year, but you can find the risk of your home now. It is important to know the rick your home is in, but I fear this move will force our insurance rates higher. This makes me nervous.
"Most homeowners’ insurance policies do not cover damages as a result of floods. Paul Harris, owner of Paul Harris Insurance Inc., said mortgage lenders may require flood insurance depending on the location of the property. If it is not required, Harris said he always recommends the insurance while also admitting to some homeowners that their chances of flooding are slim. . ." (more)
"A Callaway development company is seeking the same long-term, fixed-rate financing capability the city has when paying for infrastructure. To be eligible, the development must be approved by the city as a community development district, or CDD. Developer Patrick Brewer with East Bay Bayou LLC wants the district created for Bridge Harbor. . ." (more)
posted by Jason at 8:04 AM
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Monday May 28, 2007
Panama City Airport gets funding, Pier Park Movie Theatre
"The Federal Aviation Administration on Friday gave a $72 million 'stamp of approval' for relocation of the Panama City-Bay County International Airport to West Bay. Announcement of the grant money came with a letter from Robert Chapman, manager of the FAA’s airports division. . ." (more)
On Friday night my wife and I had the great pleasure of attending the opening of Pirates of the Caribbean III, at the new Southern Theatres Grand Theatre. It was awesome. The movie was three hours long, which was perfect in the high-back reclining seats. The armrests in between the seats came up allowing couples to get closer and there was even padding on the under side of the armrest! The sound and picture was fantastic. These are all features that I've experienced before. None of this is new to theatres, just new to our area, but it is great to finally get something decent here. Showtimes.
posted by Jason at 8:22 AM
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Friday May 25, 2007
Reid's Court back on Agenda, Home Sales Up - Prices Down
"The owner of a 36-acre tract of Front Beach Road property that includes Reid’s Trailer Court will have a second chance to request a controversial rezoning when the City Council holds its first meeting in June. Beach resident Jimmy Williams appeared before council members April 26 seeking a development agreement with the city to permit construction of a major mixed-use project on the site. The application included rezoning an eight-acre parcel, now zoned for single-family residential, to T-3 commercial and accommodations, and rezoning the 21-acre site now occupied by Reid’s Trailer Court from TM (mobile home community) to T-3. Two other parcels already are zoned T-2 and T-3. . ." (more)
In April, home sales experienced the greatest percentage month to month increase in 14 years, however sales were still 10.6% less than April of 2006. Paul Kestrel is quoted as saying home builders are doing a "Detroit" referring to the Detroit automakers who cut prices to lower inventory levels. The median new home price dropped 10.9% from that of last year. . . (more)
posted by Jason at 7:36 AM
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Wednesday May 23, 2007
Panama City Airport Delayed
"Airport officials offered a handful of reasons Tuesday for why construction on the relocation to West Bay will not begin in the coming weeks. The search for the ivory-billed woodpecker, voluminous questions from bidders on the project and the yet-to-be-received final environmental permit from the Army Corps of Engineers are the main culprits. . ." (more)
posted by Jason at 8:46 AM
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Monday May 21, 2007
Real Estate, Your Best Investment Option
"So, you want to maximize your opportunities to grow your income...that means investing money in something of value, in the hopes that its value will increase over time, and the return on your investment (ROI) will be more than you would expect to make by placing the money in a traditional savings account. . ." (more)
Billy O’Neal is a real estate investment expert, author, speaker, and personal coach who will be appearing in Panama City, FL on June 8th & 9th. For more information on this seminar or to register, go to RighteouslyRich.com or call 850-625-7251.
posted by Jason at 7:36 AM
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Monday May 21, 2007
Slow on Sub prime Mortgage Regulation, Mortgage Help
"Facing criticism from some members of Congress over lax regulation of the nation's mortgage market, Federal Reserve Chairman Ben Bernake came out swinging Thursday against too much government intrusion in the troubled subprime mortgage business. . ." (more)
"With foreclosures on the rise, banks are trying a gentler touch. When homeowners default, they cost lenders pots of money, an average of $40,000 or more per home - due to brokerage fees, utility bills and other costs. Banks find they're better off getting borrowers back on the payment track than forcing them out. . ." (more)
posted by Jason at 7:36 AM
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Friday May 18, 2007
Property Value Reductions, New TDC, JCPenny Joins Pier Park
"Bay County Value Adjustment Board members, meeting for the first time Thursday to review an unprecedented volume of property value disputes, quickly realized they had little power and few reasons to grant reductions. Alexis Watson, one of the special magistrates who heard disputes from property owners, explained during the meeting inside the Emergency Operations Center what factors she was allowed by law to weigh in her recommendations to the board. . ." (more)
"Bay County Commission Chairman Mike Nelson hopes to seat a Tourist Development Council in 30 days and is encouraging interested persons in the tourism industry to contact his office. 'I’d like to have (the TDC board) up as quick at it can be,' Nelson said. The commission’s 3-2 vote on Tuesday to oust board members came as the TDC was planning its 2007-08 fiscal year and on the verge of the summer tourism season. . ." (more)
Pier Park announced today that JCPenny will join the large list of retailers at Pier Park. This building will start in the next couple of months to open by spring of next year.
The Grande Movie Theatre at Pier Park had the grand opening last night and is open to the public today.
posted by Jason at 8:04 AM
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Wednesday May 16, 2007
New TDC, New Panama City Mayor Scott Clemons, Billy Rader wins Ward 3
Huge changes occurred yesterday. Between the County Commissioners firing the whole Tourist Development Council with the exception of one person and a new Mayor for Panama City being elected into office, it will be exciting to see the changes in our area over the next couple of years, even the next year. The events culminating over the last week led to the organization of a local group of business people and hoteliers that claim to represent 96% of the tourist industry.
In yesterday's commission meeting, 2 of the 5 commissioners disagreed with the motion to fire everyone on the board, stating that they thought everyone should get together and talk this through before a decision was made. I wish I could have gone to get some good video, but our good friends at the News Herald did that for us.
"Following an emotional public hearing and prolonged debate, the County Commission on Tuesday voted to oust members of its Tourist Development Council. The decision begins a two-week process to name new appointees to take over the beleaguered tourism agency. By a 3-2 vote, with Chairman Mike Nelson and Commissioners Mike Thomas and Jerry Girvin supporting the move, the County Commission stripped eight of the nine incumbent TDC board members from their posts, leaving Nelson on the roster. . ." (more)
The election yesterday for Panama City Mayor resulted in 5,552 voters showing up the polls. After heavy campaigning by Mayor Scott Clemons and virtually no campaigning by Lauren DeGeorge, the outcome was all but assumed yesterday. If you are not willing to put the time, money and effort into making sure people know who you are, guess what? No one will know who you are. Lauren DeGeorge was quoted as saying that she was not a sore loser, and then went on to say how Panama City "bought" themselves another mayor. She then went on to scrutinize the electronic voting systems stating that they are "ripe for fraud". (more)
I've got to say, I'm glad with all the changes that occurred yesterday, these are exciting times.
"Billy Rader celebrated two victories Tuesday night. He was elected to Ward 3 of the Panama City Commission in a runoff and his daughter, Ashley, graduated from Bay High School. 'This is a red-letter day in my life,' Rader said moments before his daughter and more than 300 other seniors tossed their caps toward heaven. 'It’s a day I’ll never forget. . .'" (more)
posted by Jason at 7:04 AM
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Monday May 14, 2007
Tax Benefits of Owning Real Estate
Billy O’Neal is a real estate investment expert, author, speaker, and personal coach who will be appearing in Panama City, FL on June 8th & 9th. For more information on this seminar or to register, go to RighteouslyRich.com or call 850-625-7251.
"Are you getting the most you can out of your real estate investments when it comes to tax benefits? It’s important to remember that tax benefits are a bonus, not a reason to buy real estate. Too often, with the focus on making the sales and maximizing investments, some of the tax benefits associated with real estate get overlooked. The idea is to make money first, and then save taxes on the income you receive. . ." (more)
posted by Jason at 8:42 AM
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Saturday May 12, 2007
FixTheTDC.com, College Spring Break Marketing Report, New Tax Property Ideas
"Longtime Beach businessman Julian Bennett had stark words for more than 50 tourism industry executives and business owners who gathered in a hotel meeting room Friday morning. 'The future of Panama City Beach with respect to the tourism industry is at stake,' said Bennett, whose family is developing the Towne of Seahaven community on Front Beach Road. Prompted by the abrupt firing of Bay County Tourist Development Council Executive Director Warren on Tuesday, the newly formed 'The Other 96 Percent Committee' convened the meeting to rally Beach business owners and operators against the majority of current TDC board members, who are employees or supporters of Bay County businessman Charles Hilton. . ." (more)
FixtheTDC.com
A Panama City Beach couple prepared an extensive marketing report outlining the details of the 2007 college spring break campaign. The report included local market facts and suggestions for future campaigns. Other details included are four calculations for total spring break revenue and appropriate allotment.
"Lawmakers are considering a new approach to property tax relief that would offer large exemptions for residential and business real estate alike and cut the average homeowner’s tax bill in half, House Speaker Marco Rubio said Friday. The percentage-based exemptions would still require a state constitutional amendment, but Rubio said they are fair and simple and would eliminate many existing inequities of the current system. . ." (more)
posted by Jason at 8:42 AM
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Friday May 11, 2007
The Other 96 Percent, West Bay Bridge
"An organization of prominent tourism industry leaders opposed to the current policies of the Bay County Tourist Development Council is preparing to formally ask the Bay County Commission to oust most of the current nine-member TDC leadership and replace the panel with a 'board of integrity.' Responding to the TDC board’s decision Tuesday to fire Executive Director Robert L. Warren, the group has scheduled a meeting this morning to craft a formal request seeking a new panel that they say will better reflect the different components of the Beach tourism market. . ." (more)
I quote a friend of mine in this group (The Other 96 Percent) saying this whole thing is "a real mess". It is never a good thing for a community agency with the responsibility of shaping the perception of an area to be largely under the influence of a local business owner. If we want to evolve in our area, the next big step is to get more family-oriented vacationers here.
"The piers are mostly in place, the pile driving is nearly done and the girders that will hold the northbound lanes of State 79 are arriving by truck from a Mississippi fabrication yard every day. Six months after construction began on the new West Bay bridge, the structure is taking shape across the Intracoastal Waterway, and project manager Johnny Pereira couldn’t be happier. . ." (more)
posted by Jason at 8:13 PM
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Thursday May 10, 2007
Panama City Mayoral Election
The Panama City Mayoral election occurred on the 17th of April with incumbent mayor Lauren DeGeorge coming out on bottom with 1,354 votes and Scott Clemons with 2,546 votes, almost twice as many. The sad part was that only 26% of all Panama City registered voters showed up at the polls.
If you are a registered voter in Panama City, I strongly encourage you to voice your opinion and vote.
Below are links to the campaign page for both runners, do your homework and VOTE.
Scott Clemons
Lauren DeGeorge
posted by Jason at 2:23 PM
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Thursday May 10, 2007
More Wildfires, First Named Storm, More TDC Fallout, Faircloth to Sue Property Appraiser, Housing Forecast Down
"Smoke from a woods fire west of Wildwood Road closed U.S. 98 for the third straight day, this time between Thomas Drive and the Hathaway Bridge, on Wednesday afternoon. The section of road was closed for about 45 minutes, starting at about 3 p.m. Once visibility improved, motorists were detoured around the Back Beach and Front Beach roads confluence via Thomas Drive. All of U.S. 98 reopened to regular traffic at about 5 p.m., according to the Bay County Sheriff’s Office. . ." (more)
"Five-foot waves crashed by the pier and 26 mph gusts whipped clouds of sand into the faces of tourists as the first named storm of 2007 formed Wednesday off the Georgia coast — three weeks before the official start of the Atlantic hurricane season. Subtropical Storm Andrea churned Wednesday about 100 miles southeast of Savannah. The National Hurricane Center predicted the storm wouldn’t pose much of a threat. But its early appearance was unnerving to some in this beach tourist town. . ." (more)
"The Bay County Tourist Development Council’s sudden firing of Executive Director Bob Warren on Tuesday has incensed many in Bay County’s political and business communities. In response, Bay County Commission Chairman Mike Nelson told The News Herald on Wednesday that the County Commission formally will examine the incident at its meeting Tuesday. . ." (more)
"Local businessman Charles Faircloth says he will sue the Bay County Property Appraiser’s Office if it does not change his property assessments — for the third time. A letter from Tallahassee attorney Ralph DeMeo on Faircloth’s behalf to interim Property Appraiser Russ Mathis says Faircloth’s civil rights were violated by a change in assessments to several of Faircloth’s properties after a Florida Department of Law Enforcement investigation into reductions granted by the office. . ." (more)
"Housing activity this year will be somewhat lower than in earlier forecasts, with clearer analysis of the effects of stricter lending standards and a decline in subprime mortgage origination, according to the latest projections by the National Association of Realtors. . ." (more)
posted by Jason at 6:25 AM
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Wednesday May 9, 2007
TDC Director Fired, Hilton Wanted Warren Gone
"A routine Bay County Tourist Development Council budget meeting erupted into a squall Tuesday morning as the board fired Executive Director Bob Warren for what some members called his failure to follow policies on several issues. A visibly angry Warren denounced the board as captive to the interests of Bay County businessman Charles Hilton, who owns four resort properties on the beach. . ." (more)
"Bob Warren said he knew his days were numbered as executive director of the Bay County Tourist Development Council when an encounter with businessman Charles Hilton in early March unexpectedly turned ugly. Several hundred local business leaders and government representatives were at a monthly social meeting at the private Econfina Club near State 20 in northern Bay County when Warren said he approached Hilton late in the evening to say hello. . ." (more)
posted by Jason at 6:25 AM
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Tuesday May 8, 2007
Tax Swap Equals Revenue Drop, Wild Heron Fire
"The state’s plans to reduce, restructure or eliminate property taxes could mean big savings to Panama City property owners and major cuts to the city’s budget. After reviewing proposals by the Florida Legislature, City Manager Ken Hammons has asked his department heads to deliver their 2007-08 proposed budgets with 10-percent cuts compared to their current ones. The city’s next budget year does not begin until Oct. 1. The Legislature is expected to come up with a new property tax plan during its June special session. Several are under consideration, including one that calls for the elimination of all property taxes on primary homes and replaces lost revenue with a higher sales tax. Another plan calls for a rollback on taxable values and a cap on taxes. . ." (more)
"The fire that threatened a Panama City Beach neighborhood started in a swampy area near the Wild Heron subdivision Monday afternoon. State forestry officials said flames from the fast-moving wildfire jumped Back Beach Road at Marlin Avenue, leaving seven homes damaged and one shed destroyed. Residents were briefly evacuated from several homes in the fire zone. . ." (more)
"The flames arrived with no warning. Residents of the Marlin Avenue and Riviera Drive section of this west-end beaches community were enjoying a bright but windy Monday afternoon, when in an instant a fast-moving forest fire near the Wild Heron subdivision jumped Back Beach Road and landed in their midst. Within minutes, additional blazes erupted in yards and vacant lots throughout the neighborhood as the wind lofted flaming embers across the four-lane divided highway. . ." (more)
Edit: The fire wasn't actually in Wild Heron, it was close the the "Discovery Center" on Back Beach Road.
Videos of the fire coverage:
video 1
video 2
posted by Jason at 6:45 AM
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Monday May 7, 2007
Rise and Fall of Rick Barnett, FEMA Elevating Homes
"Editor’s note: This is Part I of a twopart story detailing Bay County Property Appraiser Rick Barnett’s rise and fall. Today’s story details how he came to be property appraiser. Monday’s story focuses on events after he took office. The information comes from public records and interviews with those who know him. . ." (more)
"Editor’s note: This is Part II of a story detailing Bay County Property Appraiser Rick Barnett’s rise and fall. Today’s story focuses on events after he took office. Sunday’s story detailed how he came to be property appraiser. The information comes from public records and interviews with those who know him. . ." (more)
"Montel Johnson has watched St. Andrew Bay spill into her home during four hurricanes since 1968. She and her husband, James, stayed in their Lynn Haven home on Carolina Avenue during Hurricane Eloise in 1975, frantically pouring out water in buckets as it crept in. Subsequent storms damaged the home but the couple’s insurance paid for those repairs. . ." (more)
posted by Jason at 5:45 AM
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Friday May 4, 2007
Panama City Airport Chooses Engineering Firm
"The Panama City-Bay County International Airport Authority on Thursday urged those connected with the construction of a new airport to move faster and work cheaper. During a special meeting to discuss and take action on items related to the West Bay relocation, board members said they want helicopters and jumbo jets taking off from the now-undeveloped 4,000-acre site by 2009. The $331 million relocation project is to be funded in thirds by state grants, federal grants and the sale of the current airport property. . ." (more)
This article mentions that HNTB Architecture had been chosen over PBS&J. I thought PBS&J had been selected as reported on 1/24/07. Do I have my facts wrong?
posted by Jason at 6:30 AM
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Thursday May 3, 2007
NPR Sacrifices Facts for Story, Tax Relief Delayed, Panama City Library, Rick Barnett Sexual Harassment
On May 1st, Dr. Ed Wright posted on a three part series about St. Joe and the new airport written by NPR correspond ant, Greg Allen.
"I knew the facts were in trouble when I heard the National Public Radio (NPR) reporter describe the Florida Panhandle “from Tallahassee to Pensacola” as “The Forgotten Coast.”
I’m sure that’s news to folks in Destin, on the Beaches of South Walton or in Panama City Beach during spring break. After all, our white sand beaches attract about 8 – 10 million visitors each year, making our region the second largest tourist market in Florida.
Forgotten indeed. But if you are NPR – and you’re going for a so-called "Driveway Moment" – you’ve got to grab the listener’s attention and set the scene.
It’s good storytelling, but let’s not confuse that with news. . ."
From here, Dr. Wright spells where Greg Allen went wrong in his reporting.
The three-part series from NPR:
Florida Company Plans to Develop Thousands of Acres
Overview: Developer Targets Florida's Panhandle
Developer A Key Player in Florida Airport Fight
"The House and Senate remained at impasse over property tax relief and will return in June to resume discussions instead of trying to reach an agreement before the 2007 regular session ends Friday, legislative leaders announced Wednesday. House Speaker Marco Rubio and Senate President Ken Pruitt told their respective chambers they had agreed to postpone the biggest issue lawmakers were facing. The special session is tentatively scheduled for June 12-22, they said. . ." (more)
"The new Bay County Library is on course to be completed by 2008, and the County Commission is moving forward with a new administrative complex. The new $9 million library is scheduled to be completed in March 2008. “It is going extremely well at a pretty good pace,” said Ken Schnell, public works director for Bay County. Schnell said if construction on the 55,000-square-foot building continues unabated, the project could be completed ahead of schedule. . ." (more)
"The explicit note that cost Rick Barnett his job was all a dream. That’s how employee Nicole Mincey described it in a written complaint against the former Bay County property appraiser. According to the complaint, he told her about a sexual dream he had involving her, and she asked him to write it down. . ." (more)
This is just unbelievable. I am ashamed that we elected someone into office that was ignorant enough to think he could even get away with behavior like this. Come on, sexual harassment is so 1990's.
posted by Jason at 6:30 AM
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