In March 2007, the City staff estimated that the CMP bonds would cost a total of $71,203,237 (see ecua-april-2007). In his March 2009 presentation, the cost of the borrowing increased to $85,602,469 (see page-7-march-23-presentation-1).
Under Section 4.5 of the Interlocal Agreement, CRA can reduce the annual payments to the ECUA if the Florida Constitution is amended or the state legislature pays a bill that reduces the amount of TIF received by the CRA. So the CRA can change its payment schedule to the ECUA if there is a [...]
According to Article 5 Financing and Performance of the Interlocal agreement between the CRA/City and ECUA that was approved by City Council April 2007: "...if the final actual Costs of the Project (Demolition of the Main Street Plant) are actually less than $19,500,000, the subsequent Agency [...]
The recession has caused bids for many projects to come in much lower than expected. The New York Times (Companies Pretty Up Prices to Win Stimulus Projects) reports construction companies, hungry for work in the dismal economy, have slashed their prices. Bids are coming in 15 to 25 percent lower [...]
Solutia Inc. has found a buyer for its nylon business: an affiliate of SK Capital Partners II, a New York-based private equity firm that is focused on the chemical, material and health-care sectors. Read more.
Sen. Don Gaetz has filled a bill with Sen. Mike Fasano that will stop public officials from collecting a paycheck and a pension, known as Double-dipping. The bill was approved Tuesday by the Senate Community Affairs Committee. According to St. Pete Times, more than 9,000 members of the [...]
The Escambia County School Board is now in the retirement incentive business. They passed a new policy that will come before the Board for final approval on May 11, 2009. This rule is intended to provide an incentive ---25% of the gross annual salary--for individuals who would like to retire and [...]
Press Release: Pensacola Chamber Calls on Angels to Focus on Capital for Technology Based Economic Development at the iTen Wired Summit PENSACOLA, Fla.- The Pensacola Bay Area Chamber of Commerce together with the Baldwin County Economic Development Alliance and Mobile Area Chamber of [...]
From Charles Wood, Pensacola Bay Area Chamber of Commerce: # First the Good News – Our tech companies are continuing to grow despite the current economic climate. Check out the Business Journal article on local technology growth taking place in the Pensacola Bay Area. The article “Homegrown [...]
Federal Judge Roger Vinson has denied summary judgment in the case of Karen Broughton vs. the Escambia County School Board. Here is the background on the case from the court documents: This two-count employment discrimination case. Broughton is a black female, and she has been a teacher with [...]
Missing your favorite daily newspaper reporter? Well, they could be furloughing. The Gannett Blog reports: Facing another furlough, Gannett Digital's clever Laura Cochran joined employees last week using free text-message broadcaster Twitter to launch Furlough House Swap. The site's for [...]
Teh St. Pete Times reports: No legislator is immune when it comes to the influence of the gambling industry in Florida. All 160 members of the Florida Legislature have either accepted a campaign check from the industry or benefited from its contributions to their parties. The Florida House is [...]