2008 State, MSA's and County forecast page from Fishkind and Associates

Econocast is Fishkind & Associate's forecast of economic activity for the State of Florida, its MSA's and Counties. The information is developed through a series of econometric forecast models functioning at the county level. Multi-county Metropolitan Statistical Area forecasts consist of the sum of county level forecasts within that area.

Data sources include:

• Census Bureau building permits and housing start ratios
  
• Florida Department of Labor and Employment Security ES-202 and CES reports
  
• The University of Florida Population Studies
  
• Residential electric customer meter data
  
• National economic data and conditions
  

Econocast is available in a PDF file format. You must have the free Adobe Acrobat Reader installed on your computer to view PDF files.

Econocast information may be used when sourced to Fishkind & Associates, Inc.

2008 Econocast State of Florida, MSA & County
Florida
MSA	County
Cape Coral - Ft. Myers	Lee
Deltona - Daytona Beach – Ormond Beach	Volusia
Ft. Walton Beach – Crestview - Destin	Okaloosa
Gainesville	Alachua Gilchrist
Jacksonville	Baker Clay Duval Nassau St. Johns
Lakeland - Winter Haven	Polk
Miami – Ft. Lauderdale – Pompano Beach	Broward Miami-Dade Palm Beach
Naples – Marco Island	Collier
Ocala	Marion
Orlando – Kissimmee	Lake Orange Osceola Seminole
Palm Bay - Melbourne - Titusville	Brevard
Palm Coast	Flagler
Panama City – Lynn Haven	Bay
Pensacola – Ferry Pass – Brent	Escambia Santa Rosa
Port St. Lucie	Martin St. Lucie
Punta Gorda	Charlotte
Sarasota - Bradenton - Venice	Manatee Sarasota
Sebastian - Vero Beach	Indian River
Tallahassee	Gadsen Jefferson Leon Wakulla
Tampa - St. Petersburgh - Clearwater	Hernando Hillsborough Pasco Pinellas

2008 Econocast Florida Non-Metro Counties

Bradford

Calhoun

Citrus

Columbia

Desoto

Dixie

Franklin

Glades

Gulf

Hamilton

Hardee

Hendry

Highlands

Holmes

Jackson

Lafayette

Levy

Liberty

Madison

Monroe

Okeechobee

Putnam

Sumter

Suwannee

Taylor

Union

Walton

Washington

Florida Summary:

Population Growth

• 165,000 for 2008

• 66,000 for 1976

Employment

• -82,000 for 2008

• -55,000 for 1976

Housing Starts

• 47,000 for 2008

• 33,000 for 1976

The numbers suggest that Florida is in the Worst Recession since 1976, do you agree with Fishkind and Associates?

It's the first round of capital for a start-up business. Seed money usually takes the structure of a loan or an investment in preferred stock or convertible bonds, although sometimes it is common stock. Seed money provides startup companies with the capital required for their initial development and growth. Angel investors and early-stage venture capital funds often provide seed money.

There are about 258,200 angel investors in the U.S., and in 2007 they invested $26 billion in 57,120 deals, according to data from the Center for Venture Research at the University of New Hampshire. Angel investors and early-stage venture capital funds often provide seed money, and in Southwest Florida businesses are finding divine intervention is on the way, thanks to a venture-capital project by the Economic Development Council of Collier County, local investors working on a “regional angel fund” and the state of Florida. The brainchild of EDC leaders and Tim Cartwright, president of Gulf Coast Venture Forum, regional angels could provide new businesses with startup money matched dollar-for-dollar by the Florida Opportunity Fund, a program that state lawmakers approved last spring. Regional angels would contribute capital into a pool, screen and select potential recipients, and then go to the state in search of its matching dollars. The Florida Opportunity Fund has about $30 million in its first year for organizational costs as well as chosen projects. The past few months were spent organizing, selecting an oversight committee and preparing to accept and review applications for the funding.

The targeted clusters were chosen after extensive research into the existing market by Gary Jackson,
director of Florida Gulf Coast University’s Regional Economic Research Institute.

They are:
• Computer software and services
• Distribution, or wholesale companies that inventory,store and redistribute goods for sale to other stores and retail outlets in the region
• Health and life sciences, including biotechnology,biomedical and pharmaceutical research and manufacturing,
and medical devices.

Name: Paige Rausch

Email: Contact Paige Rausch

Office Phone:(239) 443-2500

Cell Phone:(239) 691-4321

Fax: (239) 425-8653

Gulf Gateway Realty Inc.

1326 S.E. 47th St. Cape Coral, FL 33904
Tel: 239.425.2500 Fax: 239.425.8653

If you or anyone you know is in this situation ask them to support the County Commission in their efforts to offer aide to those facing foreclosure. Please either write or show up at the September 23, 2008 County Meeting, and let those in office know your thoughts on the matter before they vote.

Below is a brief summary, and link to the back up documents:

ACTION REQUESTED/PURPOSE:
1) Adopt by resolutions proposed amendments for the foreclosure prevention strategies in the 2008/09 - 2010/11 and 2005/06 - 2007/08 plans for the SHIP program and approve their transmittal to the Florida Housing Finance Corporation. The amendments propose increasing from $100,000 to $1 million the total funding available for foreclosure prevention and from $7,000 to $8,000 the maximum assistance per household facing an extraordinary but temporary hardship, and 2) Authorize the County Manager or designee to make minor revisions that may be required for final state approval. (#20081104-COMMUNITY DEVELOPMENT)

FUNDING SOURCE:
No funds requested

WHAT ACTION ACCOMPLISHES:
Expansion of the foreclosure prevention strategy to meet current economic conditions.

MANAGEMENT RECOMMENDATION:
Approve.

Name: Paige Rausch

Email: Contact Paige Rausch

Office Phone:(239) 443-2500

Cell Phone:(239) 691-4321

Fax: (239) 425-8653

Gulf Gateway Realty Inc.

1326 S.E. 47th St. Cape Coral, FL 33904
Tel: 239.425.2500 Fax: 239.425.8653

NASSAU COUNTY
Landlord/Tenant Law

Felder v. Bentley

PETITIONERS LANDLORDS filed this nonpayment proceeding against respondent tenant. The parties entered into a stipulation that respondent agreed to pay certain sums by a specific date, among other things.

Petitioners were awarded a warrant of eviction for respondent's failure to make a payment. The warrant was stayed and respondent alleged petitioners' attorney was served with the order to show cause (OSC).

Respondent was evicted from the premises and amended her OSC to include a contempt charge against petitioners and their attorney for refusing to comply with the OSC staying the warrant.

The court stated the tenant had the burden of informing the sheriff of the stay of eviction and no obligation to recall the execution of a warrant by the landlord existed. It found no illegal or fraudulent actions by petitioners or their attorney against respondent, thus had no jurisdiction to restore respondent to residency at the premises, nor to grant the contempt motion.

The Florida legislative report was presented by Sen. Burt L. Saunders at the Real Estate Investment Society's (REIS) Sept. 9 luncheon meeting. The presentation focused on legislative actions and issues affecting business growth and development.

During the 2008 Legislature Session Senator Saunders supported the Go Green Florida initiative, which included bills protecting the environment and encouraging responsible energy policies. In addition, he was involved with the Consumer Defense initiative, a bill which required greater accountability for government spending and included the Homeowners’ Bill of Rights which revised property insurance laws.

Senator Burt Saunders has served in the Florida Senate for 10 years, following four years in the House of Representatives and four years as a Collier County Commissioner. He chairs the committees on Social Responsibility Policy and Environmental Preservation and Conservation and also serves on the Responsible Regulation committee. He is currently a candidate for the U.S. House of Representatives.

Overview of 2008 Florida Legislative Session

• 2503 bills filed
• 313 passed both houses of Legislature
• 166 have been signed by Governor
• 1 became law without Gov’s signature
• 1 veto (so far)
• 145 still to be presented to Governor
  
  

Checking out Bills & Laws

• Governor’s website: www.flgov.com
  • Click on “Media Center” located on the right panel, then select “Legislative" Actions” from the drop-down list, then click on “2008” then click on “Governor Crist’s Bill Actions” which downloads pdf with status of Bills sent to Gov.

• Legislature: www. leg.state.fl.us
  • then click on Senate or House, and search by Bill number, or text

Condominiums and CAMs HB995ER

• Main Condominium Bill
• Signed by Governor May 1st
• Effective October 1, 2008
• Will be amended before it becomes law IF HB601 and/or HB679 are signed by Gov. (as of June 12, 2008, they have not been sent to Gov.)

Condominiums and CAMs – HB995ER

• CAMs:
  • Defines and regulates Community Association Management Firms
  • DBPR to promulgate rules
  • ALL individuals providing CAM services must be licensed, not just Firm’s owner
  • Maintenance & clerical personnel do not have to be licensed
  • Personnel who prepare budgets or other financial documents must be licensed
  • Associations with 10 or more units must have licensed CAMs (unless self-managed)

Condominiums and CAMs – HB995ER

• Associations:
  • Officers and Directors subject to fines of up to $5,000 and money damages for breach of duties or failure to perform duties
  • ANY PERSON who intentionally destroys or defaces association accounting records, or who knowingly or intentionally fails to create or maintain association accounting records is subject to a civil fine of up to $5,000

Condominiums and CAMs – HB995ER

• Association records:
  • ALL official records must be kept at least seven (7) years, including ballots and bids
  • Records must be maintained with 45 miles of the condominium property or within the county where the property is located
  • Personal identifying information, including SSNs, driver’s license numbers, and credit card numbers, are NOT subject to inspection
  • Records may be maintained electronically

Condominiums and CAMs – HB995ER

• Association Directors
  • Candidates for the board must sign a certification that they have read and understand the association’s governing documents
  • Co-owners may not serve on boards together in associations having more than ten (10) units (no more spouses on BOD)
  • Staggered terms for directors are limited to two (2) years

Condominiums and CAMs – HB995ER

• Association Directors, cont’d
  • A director who is ninety (90) days or more delinquent in regular assessments is deemed to have abandoned the office, creating a vacancy to be filled
  • A director or officer charged with felony theft or embezzlement of association funds shall be removed from office, subject to reinstatement if not found guilty
  • DBPR has the power to remove officers and directors and prohibit them from serving

Condominiums and CAMs – HB995ER

• Association Audits & Reserves
  • Audits may not be waived for more than 3 consecutive years (e.g., must have audit every 4^th yr.)
  • Condos of more than 3 stories must have a structural inspection at least every 5 years, unless waived by a majority vote of unit owners
  • Notices of assessments must include the estimated cost, a description, and a statement of the purpose of the assessment
  • Proxies for waiving the reserves have a new large-type, ALL CAPS, notice requirements

Condominiums and CAMs – HB995ER / 2008-028

• Association Financial Statements
  • Financial statements must state whether reserves are adequate to prevent the need for special assessment, and if not, state amount needed to fully fund reserves
  • Person preparing report may rely on inspection report provided by association
  • Developer must pay for audits or reviews prepared prior to turnover of control

Condominiums and CAMs – HB995ER

• Association Board Meetings
  • A director who abstains from voting will be presumed to have taken no position on the matter
  • If 20% of the unit owners petition the board of directors to put an item on the agenda for a meeting, the board must do so and hold a board meeting within 60 days
• Association Liens
  • Liens will now require a 30 day “notice of intent to lien”

Condominiums and CAMs – HB995ER

• Associations – other changes
  • New receivership provisions
  • Revised hurricane shutter provisions
  • New SLAPP suit prohibition
  • Associations with more than 10 units are now subject to the bid requirements of §718.3026, F.S.

Condominiums and CAMs – HB995ER

• Associations – other changes, cont’d
  • New provisions for disclosure of conflicts of interest in bids and contracts
  • New disclosure form for prospective buyers
  • New provisions for emergency powers
  • Must allow religious objects on doors
    
    

Condominiums & Homeowners Associations
CS/CS/HB 601

• Condo Association Insurance
  • Changes requirement for “adequate insurance” to “adequate hazard insurance”
    • Full insurable value or replacement cost
    • Must have appraisal every 36 months
  • Permits three or more communities to obtain insurance for an amount equal to the probable maximum loss for a 250 year windstorm event
    • Must be based upon accepted model
    • Must be approved by OIR
  • Board must include proposed deductible, available funds, assessment authority, and estimated potential assessment to fund deductible in budget meeting notice
    

Condominiums & Homeowners Associations
CS/CS/HB 601

• Unit Owner Insurance (effective Jan 1, 2009)
  • Unit Owner Policy is Excess Coverage
  • $2000 special assessment coverage
  • Improvements that benefit fewer than all owners may be insured by those owners or if insured by association may be assessed against only those owners who benefit
  • Free-standing buildings may be separately insured
  • Association must be named insured and loss payee on all unit owner casualty polices

Condominiums & Homeowners Associations
CS/CS/HB 601

• Reconstruction
  • All reconstruction must be undertaken by association
  • Prior written consent of BOD must be obtained before unit owner may undertake reconstruction
  • Association may condition consent upon approval of contractor, contract, and repair method
• Provides for estoppel certificates from HOAs

Condominiums & Homeowners Associations CS/CS/HB 601

• Voting, Common Expenses & Estoppel Certificates
  • Director who abstains presumed to have taken no position on issue
  • Items required by government are common expenses
  • Owner, designee or mortgagee are entitled to a certificate of assessments owed
  • Fee may be charged
  • Certificate must be signed by officer of condo association

Homeowners' Association Claims of Lien
SB 1986

• Specifies forms and procedure for Notice of Claim of Lien by HOA
  • Unit Owner may file Objection to Claim
  • If Objection is filed, HOA has only 90 days to file suit to enforce Claim
• 1^st mortgagee liable for 12 months or 1%, whichever is less
• Parcel owner may submit “qualifying offer” to pay a sum certain by a date certain

Community Associations - CS/HB 1105

• Receivership: Sets up new receivership provisions for condos, co-ops, and HOAs
  • Requires 30 day Notice of Intent to file for Receivership
  • Requires 30 day notice of Order placing condo, co-op or HOA in receivership
• Notice of Intent to Lien: Requires condos and co-ops to give 30 day “Notice of Intent to Lien” prior to filing Claim of Lien

Homeowners Associations & Condominiums - CS/CS/HB 679

• Swimming Pools in HOAs with > 32 lots no longer regulated by Dept. of Health
• Add’l disclosure required if HOA does not budget for reserves
• Prohibits a director, officer or committee member of HOA from receiving compensation for service to the association (but may be reimbursed for out-of-pocket expenses)
• HOA fine ≥ $1,000 may become a lien against a unit
• Elected director of condo or HOA must certify in writing that he or she has read the documents and the statutes (amends 995)
• Mandatory pre-suit arbitration or mediation between HOA and owner (“Home Court Advantage Dispute Resolution Act”)
• 3 or more condos may self-insure insurance deductibles

Flags & MHPs
CS/SB 1378

• Flags: Homeowner may display a portable, removable U. S flag and one other official flag of Florida, Army, Navy, Marines, Coast Guard, or POW-MIA on a flagpole not taller than 20’ on homeowner’s property
• MHPs: Resident-owned MHPs may allow an owner who lives in a concrete block home under a 99-year lease to be a member
• Effective July 1, 2008
  

Building Construction Standards
CS/HB 697

• Declarations, deed restrictions, covenants, and other binding agreements may not prohibit the installation of energy devices based on renewable resources (e.g., clotheslines)
• Residential condominium units are residential dwellings for purposes of installing solar collectors or other energy devices
• 3-story height restriction for installation of solar collectors is removed
  
  

Landlord-Tenant
HB 1489

• Residential leases may impose early termination fee and/or liquidated damages clause
  • May not exceed 2 months’ rent
  • May be in addition to unpaid rent and other charges
  • Effective June 10, 2008
    

Property Taxes - CS/SB 909

• Changes the application of the “highest and best use” standard by eliminating the “any-reasonable-hypothesis” burden of proof standard in value adjustment cases
• Changes the composition of Value Adjustment Boards (VAB)
• Requires published uniform practice and procedures for VAB hearings and practice
  
  

Property Taxes - CS/SB 1588

• Implements Amendment 1 increasing homestead exemption, transferability of Save-Our-Homes cap, additional $25,000 TPP exemption and 10% cap on real property tax increases
• Changes the calculation of maximum millage rate so that rolled-back rates are calculated as if the tax base had not been reduced by Amendment 1

Public Lodging - CS/CS/CS/SB 2016

• “Non-transient public lodging” now regulated by DBPR
  • defined as establishments renting or advertised as regularly rented for at least 30 days or 1 calendar month
  • Establishments in which more than 25% of units are rented out for 1 month or less more than 3X a year are “transient public lodging”
  • Subject to public lodging fire safety code
  • ADA applies to ALL units in establishment
  • Effective July 1, 2008
    

Right to Keep and Bear Arms
CS/HB 503 –Laws of Floirda 2008-7

• Employees, customers and invitees possessing a valid CWP may not be prohibited from bring a firearm onto the parking lot of a public or private property if firearm is locked in glove compartment of vehicle
• Employees cannot be disciplined for having firearm in vehicle
• Employment cannot be conditioned upon employee having or not having a CWP
• Exemptions for certain properties, such as schools, jails, nuclear plants, defense plants, Federal property, etc.
• Immunity for employers
• Effective July 1, 2008
  
  
  

Transfer Fee Covenants – CS/SB 464

• Transfer fee covenants are prohibited
• Exemptions -– Does not apply to:
  • HOA fees
  • Non-profit & charitable organizations fees
  • Government fees
  • Effective July 1, 2008

Spaceflight - CS/SB 2438

• For those of you booking your next space flight, this bill provides that a space flight carrier is not liable for injury or death of a passenger if it gives the passenger a warning and has the passenger sign it
• Waiver does not apply if carrier commits gross negligence, intentional act, acts with willful and wanton disregard for safety, or has knowledge of a dangerous condition
• Effective October 1,2008

Name: Paige Rausch

Email: Contact Paige Rausch

Office Phone:(239) 443-2500

Cell Phone:(239) 691-4321

Fax: (239) 425-8653

Gulf Gateway Realty Inc.

1326 S.E. 47th St. Cape Coral, FL 33904
Tel: 239.425.2500 Fax: 239.425.8653