City of Lakeland D E M O G R A P H I C G U I D E 2 0 12
POPULATION • WORKFORCE DEVELOPMENT • INDUSTRY SECTORS MAJOR EMPLOYERS • WAGES & INCOME • TAXES • EDUCATION • HOUSING ECONOMIC INCENTIVES & REDEVELOPMENT • CONSTRUCTION & DEVELOPMENT
Community Development
Built upon historic character, philanthropy and volunteerism, Lakeland offers its residents, businesses and visitors a true sense of place. Incorporated in 1885, Lakeland quickly became one of the premier cities in Florida. From the inaugural railroad service in the mid-1890's to being one of the first cities in Florida to have electricity, Lakeland has always been a hub of innovation and progressive ideas. Today, the City continues to thrive as population and business expansions are attracted to this area, the geographic center of Florida. Lakeland’s economic base consists of warehouse, transportation and distribution, education, health care, manufacturing and retail. Lakeland has received the distinction of being on Money Magazine’s “Best Place to Live in America” list. In addition, Lakeland is home to Publix Supermarkets, Florida Southern College, which hosts the largest one-site collection of Frank Lloyd Wright architecture, and is the winter home to the Detroit Tigers. The City of Lakeland offers an exceptional quality of life. A firm commitment to downtown development, redevelopment, historic preservation, cultural amenities, and a exceptional business-friendly environment has helped Lakeland to thrive for 125 years. Growth and progress exemplify our City all the while maintaining a sense of history and a hometown feel.
Over 8.6 million people within a 100-mile radius 32 miles from Tampa 54 miles from Orlando Midway between Key West and the Georgia state line Two International airports within an hour's drive Located on Interstate 4 in the middle of Florida's High Tech Corridor. Located in Polk County, the eighth largest County in the state. Polk County boasts over 550 lakes and 90 minute drives to beaches on both coasts. The Central Florida Development Council estimates that 1.5 million tourists visit Polk County each year.
Lakeland is a great place to do business and a wonderful place to live, work and raise a family.
LAKELAND ,FL
Table of Contents Economic & Demographic Snapshot............................................................................................................. 4 Population .............................................................................................................................................................. 5 Workforce Development .................................................................................................................................. 7 Industry Sectors.................................................................................................................................................... 8 Major Employers................................................................................................................................................... 9 Wages & Income.................................................................................................................................................10 Taxes ...................................................................................................................................................................... 11 Education.............................................................................................................................................................. 13 Economic Incentives and Redevelopment .............................................................................................. 14 Housing ................................................................................................................................................................ 16 Construction and Development................................................................................................................... 17
CNNMoney.com Ranked Lakeland 9th on their list of Top 10 Turnaround towns for 2012.
LAKELAND 2
Economic & Demographic Snapshot POPULATION
Source
City of Lakeland Population (2011)
97,690
BEBR
Lakeland Electric Service Area (2011)
254,283
Lakeland Electric
Polk County Population (2011)
604,792
BEBR
18,905,048
BEBR
State of Florida Population (2011)
CITY OF LAKELAND
City of Lakeland Historical Size and Population
Source
Year
Population Size in Square Miles
Total Number of Households (2011 Est.)
38,248
Claritas
1960
41,350 16.78
Average Household Income (2011 Est.)
$51,760
Claritas
1970
42,803 17.17
Median Household Income (2011 Est.)
$38,430
Claritas
1980
47,406 20.59
Lakeland Per Capita Buying Income (2011 Est.)
$21,973
Claritas
1990
70,576 44.23
1995
74,626 50.55
Lakeland Labor Force (2011)
42,958
AWI
2000
78,452 51.91
Employed (2011)
38,199
AWI
2001
82,942 54.15
4,759
AWI
2002
87,150 67.54
Lakeland Unemployment (2011)
11.10%
AWI
2003
88,741 67.60
Lakeland Private Employment (2011)
37,483
BLS
2004
89,731 69.94
Mid Florida Regional MLS
2005
90,851 71.38
Unemployed (2011)
Average Home Sales Price (2011)
$106,090
Single Family Permits (2011)
115
City of Lakeland
2006
91,623 72.17
Multi-Family Permits (2011)
6
City of Lakeland
2007
93,428 73.41
890,718
City of Lakeland
2008
93,508 74.33
Commercial Square Feet Permitted (2011)
11,522
City of Lakeland
2009
94,163 74.40
Retail Square Feet Permitted (2011)
50,031
City of Lakeland
2010
97,422 74.48
2011
97,690 74.62
Warehouse/Industrial Square Feet Permitted (2011)
Sources: University of Florida Bureau of Economic & Business Research (BEBR) Bureau of Labor & Statistics (BLS) Claritas Market Place 2011 Lakeland Economic Development Council (LEDC) Mid Florida Regional MLS Florida Agency for Workforce Innovation (AWI)
photo credit: Tom Hagerty
3
Population City of Lakeland Year 1995 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
Polk County & Florida
Population 74,626 78,452 82,942 87,150 88,741 89,731 90,851 91,623 93,428 93,508 94,163 97,422 97,690
Sq. Miles 50.55 51.91 54.15 67.54 67.60 69.94 71.38 72.17 73.41 74.33 74.40 74.48 74.62
1990 Population by Age 16000 14000 12000 10000 8000 6000 4000 2000 0
Under 5
5 to 14
15 to 24
Year 1995 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
Polk County 443,153 483,924 496,112 502,385 511,929 528,389 535,800 564,868 581,058 585,733 584,383 602,095 604,792
2000 Population by Age
25 to 34
35 to 44
45 to 54
Florida 14,336,202 15,982,378 16,331,739 16,674,608 17,071,508 17,561,732 17,918,227 18,349,132 18,680,367 18,807,219 18,748,925 18,801,310 18,905,048
2010 Population by Age
55 to 64
65 to 74
75 to 84
85+
2010 Population by Sex
2010 Population by Race White or Caucasian
70.80%
Male
46.90%
Black or African American
20.95%
Female
53.10%
Hispanic or Latino Other Two or more races
12.60% 3.40% 2.70%
Source: U.S. Census Bureau
Asian Native American
Lakeland has seen an 85% increase in the population of residents aged 45-54 from 1990 to 2010
1.80% .30%
Sources: U.S. Census Bureau
4
Population Metro and Non-Metro Population, 2010
Florida’s Top 25 Incorporated, 2010 City Jacksonville
821,784
Miami
399,457
Tampa
335,709
St. Petersburg
244,769
Orlando
238,300
Hialeah
224,669
Tallahassee
181,376
Ft. Lauderdale
165,521
Port St. Lucie
164,603
Pembroke Pines
154,750
Cape Coral
154,305
Hollywood
140,768
Gainesville
124,354
Miramar
122,041
Coral Springs
121,096
Clearwater
107,685
Miami Gardens
107,167
Brandon
103,483
Palm Bay
103,190
West Palm Beach
99,919
Pompano Beach
99,845
Spring Hill
98,621
Lakeland
97,422
Davie
91,992
Miami Beach
87,779
Source: United States Census 2010
Metropolitan Statistical Area
Population
Population
Miami/Ft Lauderdale/Miami Beach
5,564,635
Tampa/St. Petersburg/Clearwater
2,783,243
Orlando/Kissimmee
2,134,411
Jacksonville
1,345,596
Sarasota/Bradenton/Venice Beach
702,281
Cape Coral/Fort Myers
618,754
Lakeland
Melbourne/Titusville/Palm Bay
543,376
Daytona Beach/Ormond Beach
494,593
Pensacola
448,991
Fort Pierce/Port St. Lucie
427,107
Tallahassee
367,431
Ocala
331,298
Naples/Marco Island
321,520
Gainesville
264,275
Fort Walton Beach
180,822
Panama City
168,852
Punta Gorda
159,978
Sebastian/Vero Beach
138,028
Palm Coast Total All MSA’s Total Non-Metro Total Florida
5
5
602,095
Source: University of Florida Bureau of Economic and Business Research, Florida
95,696 17,692,982 1,108,328 18,801,310
Workforce Development Workforce Development Recent Job Growth 10-Year Job Growth Unemployment Rate Sales Taxes Income Taxes Median Household Income Per Capita Buying Income
Lakeland 0.14% 29.38% 11.10% 7.00% 0.00% $38,430 $23,685
Lakeland Annual Labor Force 44000 42000 40000 38000 !36000
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
Economic Development Activity 1995-2011 2011 Lakeland Unemployment By Month 13.0% 12.5% 12.0% 11.5% 11.0% 10.5% 10.5% 9.5%
J
F
M
A
,M
J
J
A
S
O
N
D
Lakeland's Average Annual Unemployment Rate 12.0% 11.0% 10.0% 9.0% 8.0% 7.0% 6.0% 5.0% 4.0% 3.0%
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
Year
Projects
1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
32 25 18 22 20 25 27 23 20 26 23 30 29 16 14 20 15
Jobs
602 690 730 1,093 3,295 533 1,705 1,505 768 1,300 1,110 609 734 1,247 1,468 401 212
Square Feet
1,290,400 1,057,100 1,110,000 1,552,500 1,676,000 1,861,000 1,692,450 1,431,517 770,968 1,269,673 1,640,489 1,309,512 1,057,892 1,827,878 434,006 691,833 613,220
Est.Capital Investment
$ 36,770,000 $ 63,350,000 $ 20,900,000 $ 94,075,000 $ 79,250,000 $109,700,000 $ 75,400,000 $ 38,260,850 $ 15,364,555 $ 33,805,000 $ 29,932,600 $ 38,115,337 $ 44,083,425 $ 180,350,000 $ 70,671,672 $ 35,714,000 $ 13,007,000
Source: Lakeland Economic Development Council (LEDC)
“Where The Jobs Will Be in 2012�
In December of 2011 Forbes listed the Lakeland MSA as having the best job outlook in the nation for 2012. The national employment survey completed by the Manpower Group, states that 17% of Lakeland employers plan to add employees in the 1st quarter of 2012.
Industry Sectors Lakeland MSA – Total Nonagricultural Employment (December 2011) Goods Producing Construction, Mining & Natural Resources Manufacturing Service Providing Wholesale Trade Retail Trade Transportation, Warehousing & Utilities Information Financial Activities Professional & Business Services Education & Health Services Leisure & Hospitality Other Services Government
23,800 9,900 13,900
12.3% 5.1% 7.2%
169,600 8,400 25,600 11,800 1,700 10,700 28,000 29,400 16,800 8,000 29,200
87.7% 4.3% 13.2% 6.1% 0.9% 5.5% 14.5% 15.2% 8.7% 4.1% 15.1%
5%
15%
4%
7%
4% 9%
13% 6%
15% 6%
1%
15%
Source: Florida Agency for Workforce Innovation
Industry Sector Comparison 1. Construction, Mining & Natural Resources 2. Manufacturing 3. Wholesale Trade 4. Retail Trade 5. Transportation Warehouse & Utilities 6. Information
7. Financial Activities 8. Prof. & Business Services 9. Education & Health Services 10. Leisure & Hospitality 11. Other Services 12. Government
35000 30000 25000 20000 15000 10000 5000 0
1
2
3
4
5
6
1990 Industry Sector
7
8
9
10
11
2011 Industry Sector
Employment opportunities within Lakeland’s Education and Health Services and Professional Business industries have nearly doubled over the past 20 years.
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Major Employers Employer Publix Super Markets, Inc Lakeland Regional Medical Center GEICO Watson Clinic GC Services Rooms To Go Furniture Liberty Mutual Saddle Creek Corporation Stryker Sustainability Solutions Sykes
Business Supermarkets (stores & warehouse) Hospital Insurance Medical Clinic Teleservices Distributor Insurance Trucking & Logistics Healthcare Teleservices
Number of Jobs 6,644 4,540 1,850 1,500 1,000 900 654 625 600 500
Manufacturing Publix Super Markets, Inc. Key Safety Systems McDonald Construction Corp. Country Hearth Bread Pepperidge Farm The Ledger Publishing Company Tampa Maid Foods Carpenter Company JBT Corporation Keymark
Deli, Dairy & Bakery Air Bag Manufacturing Construction Bakery Bakery Newspaper Shrimp Processing Insulation Processing Machinery Aluminum Extrusions
1,419 580 400 340 313 284 260 235 190 175
Government City of Lakeland
Government
2,600
Headquartered in Lakeland, Publix Supermarkets is adding to their 3 million square feet of manufacturing and warehouse space with the construction of this 562,000 square foot expansion of their County Line Road “low velocity� warehouse. 8
Wages & Income Average Annual Wage
Industry
Annual Wage
Private Industry
$37,921
Public Administration
$41,406
35,000
Agriculture, Forestry & Fishing
$22,044
30,000
Construction
$40,016
25,000
Manufacturing
$39,400
Wholesale Trade
$43,891
Retail Trade
$28,160
2001 $28,890
2007 $35,568
Transportation & Warehousing
$38,610
2002 $29,505
2008 $36,920
Utilities
$51,370
2003 $30,277
2009 $37,356
Information
$38,167
2004 $31,387
2010 $37,939
Finance & Insurance
$44,191
2005 $31,928
2011 $37,185
Real Estate & Rental Leasing
$35,263
2006 $33,592
Professional, Scientific Services
$55,853
Management of Enterprises
$53,599
Administration & Waste Services
$34,203
Educational Services
$36,412
Healthcare & Social Services
$42,781
Arts & Entertainment & Recreation
$28,684
Accommodations & Food Services
$20,156
Other Services
$34,545
40,000
20,000
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
Source: Florida Research & Economic Database
Per Capita Income Year
Source: Florida Research & Economic Database 2011
The Tampa Bay Business Journal reported in December of 2011 that the average annual compensation for high skill jobs in the Lakeland MSA had risen to $46,318, marking a 1% from the previous year.
Lakeland
Florida
2001 $24,898
$29,804
2002 $25,106
$30,462
2003 $26,004
$31,242
2004 $27,965
$33,463
2005 $29,833
$35,498
2006 $31,090
$37,996
2007 $31,838
$39,256
2008 $32,433
$39,958
2009 $31,511
$37,387
2010 $31,998
$38,222
Source: Bureau of Economic Analysis(BEA) Per Capita Income by MSA
9
Tax Information General Information The tax laws in Florida are advantageous both to industry and to individuals. There is no state personal income tax, no state ad valorem tax on real or tangible personal property, no inventory tax and no inheritance tax. This is indicative of Florida’s favorable tax climate – which is lower than most other southeastern states. Ad valorem rates in Lakeland and Polk County compare favorably with taxes in any other section of the United States. The City of Lakeland has one of the lowest operating millages in the state at 4.1644. State Sales Tax Florida has a 6% state sales tax. Exemptions include food and drugs, machinery and equipment for new businesses, and research and development equipment manufactured and used by a firm doing the research and development. Lakeland/Polk County has an additional 1% local sales tax as of January 2005. Corporate Income Tax Florida corporate income tax liability is computed using federal taxable income, modified by certain Florida adjustments, to determine adjusted federal income. A corporation doing business within Florida may apportion its total income. Adjusted federal income is apportioned to Florida using a three-factor formula. The formula is a weighted average, designating 25 percent each to factors for property and payroll, and 50 percent to sales. Non-business income allocated to Florida is added to the Florida portion of adjusted federal income. An exemption of up to $5,000 is subtracted to arrive at Florida net income. Tax is computed by multiplying Florida net income by 5.5 percent. Communications Tax Businesses providing communications services are required to register to collect and remit communications services tax. Communications services include telecommunications, cable, direct-to-home satellite, and related services. This definition encompasses voice, data, audio, video, or any other information or signals, including cable services that are transmitted by any medium. Homestead Exemption On January 29, 2008 Florida voters approved an amendment to the Constitution allowing for a statewide reform of Florida’s existing Homestead Exemption criteria. This reform, designed by the Florida Legislature to provide property tax relief to homestead-exempted homeowners, owners of second homes, rental property owners and business owners provides four significant changes to the previous exemption. Expanded Homestead Exemption: Increase the current $25,000 Homestead Exemption by an additional $25,000 except on school board taxes. Portability: Allows Homeowners to transfer up to $500,000 of their Save Our Homes Assessment Limitation benefit to the new homestead. Cap on Non-Homestead Property: The assessed value for all other properties without a homestead exemption will be limited to a maximum of 10% a year. Tangible Personal Property Exemption: Businesses will be eligible for a $25,000 exemption on equipment such as computers, office furniture and fixtures.
In 2012 the tax Foundation ranked Florida as 5th best state on their annual State Business Tax Climate Index. 10
Tax Information Statewide 2011 Operating Millage Rate
County Wide 2011 Millage Rates Polk County
6.8665
Bradenton
5.2002
School Board
7.67
Clearwater
5.155
*Parks MSTU
0.4219
Daytona Beach
6.2598
*Library MSTU
0.2109
Ft. Myers
8.4
Ft. Lauderdale
4.1193
Auburndale
3.8393
Gainesville
4.2544
Bartow
3.9962
Hollywood
7.4479
Davenport
6.99
Kissimmee
4.6253
Dundee
7.6495
Lakeland
4.1644
Eagle Lake
7.6516
Miami
7.571
Fort Meade
3.3509
Orlando
5.65
Frostproof
7.8209
Pensacola
4.2895
Haines City
6.99
Plant City
4.7157
Highland Park
9.9759
Sarasota
2.9249
Hillcrest Heights
0.31
St. Petersburg
5.9125
Lake Alfred
6.99
Tallahassee
3.7
Lake Hamilton
7.593
Tampa
5.7326
Lakeland
4.1644
West Palm Beach
8.0739
Lake Wales
7.9998
Winter Haven
5.79
Mulberry
8.9
Polk City
8.6547
Tax Summary
Winter Haven
5.79
Corporate Income Tax
5.50%
Sales Tax
6.00%
Local Option Sales Tax
1.00%
Gross Receipt Tax
2.37%
Unemployment Tax (varies)
2.70%
Communication Services Tax
7.03%
* MSTU’s are paid by all residential taxpayers of unincorporated Polk County
Intangible Tax - 1 mill per $1000 of assessed valuation
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Education Public School Graduation Rates School Harrison Lakeland George Jenkins McKeel Academy Lake Gibson Kathleen PCC Collegiate Tenoroc Lakeland MSA Polk County Florida
2011/10 100.00% 87.50% 87.50% 95.10% 79.20% 69.50% 98.20% 71.60% 83.87% 73.90% 80.10%
2010/09 100.00% 87.27% 90.63% 93.26% 86.40% 72.51% 96.85% 73.90% 86.38% 73.24% 79.00%
2009/08 100.00% 84.50% 86.20% 96.20% 82.30% 70.00% 98.80% N/A 82.70% 71.60% 78.60%
Educational Attainment in Lakeland Population Age 25 + (Polk County) Total # High school graduate 21,119 Some college, no degree 12,708 Associates degree 5,108 Bachelor’s degree 9,095 Graduate degree 4,859
2007/08 100.00% 88.70% 87.70% 100.00% 83.90% 71.70% 97.60% N/A 86.00% 73.60% 75.40%
2007/06 98.50% 82.00% 90.80% 97.20% 71.60% 75.10% 98.00% N/A 83.17% 68.80% 71.00%
2006/05 100.00% 81.60% 88.80% 99.00% 82.40% 76.80% 100.00% N/A 85.50% 70.50% 71.90%
2005/04 100.00% 89.80% 88.40% 93.30% 81.50% 71.10% 98.00% N/A 84.90% 71.60% 71.60%
% 33.9 20.4 8.2 14.6 7.8
Florida Southern College was ranked as one of America’s Most Beautiful College Campuses by Forbes in September of 2011. Public/Private Colleges and Universities Southeastern University Florida Southern College University of South Florida Webster University Polk State College Proprietary Colleges and Universities Everest University (formerly FMU) Keiser University Trade and Technical Schools Florida Career Institute Travis Technical Center
Estimated Enrollment 3,069 2,429 4,229 200 11,336
845 1200 155 1,200
Florida Southern College and Southeastern University were ranked #2 and #47 respectfully in the 2012 U.S. News and World Report regional ranking for Colleges in the South. 12
Economic Incentives and Redevelopment GRIFFIN ROAD
ER LAKE PARK
BELLA VISTA
DRIVE
S. FLORIDA AVENUE
ORANGE ST.
SIKES BLVD.
HOLLINGSWORTH
ARIANA STREET
SUCCESS AVE.
ARIANA STREET
LAKE HUNTER
LAKE MORTON
INGRAHAM AVE.
W. LIME ST.
LAKE PARKER AVE.
LAKE MIRROR
. MON ST
LAKE E. LE BEULAH
LAKE PARKER
E. MEMORIAL BLVD.
LAKE WIRE
W. MAIN ST.
S BLVD. GEORGE JENKIN
LAKELAND HILLS BLVD.
LAKE BONNET
GARY RD. E. MAIN ST. LA KE BO NN Y
LAKE HOLLINGSWORTH
Additional Economic Development Incentives Qualified Industry Tax Refund Program (QTI) Quick Response Training Program (QRT) Economic Development Transportation Fund (Road Fund) Economic Development Impact Fee Mitigation (EDIFM) Incumbent Worker Training Program (IWT) Urban Job Tax Credit
Sales Tax Refund for Building Materials A refund is available for sales taxes paid on the purchase of building materials used to rehabilitate real property located in the Enterprise Zone. Both businesses and residents are eligible for this incentive that refunds up to $5,000 of the sales tax paid for building materials. Limit one refund per parcel of property. Sales Tax Refund for Business Machinery and Equipment A refund is available for sales taxes paid on the purchase of certain business property, which is used exclusively in the Enterprise Zone for at least 3 years. This incentive refunds up to $5,000 of the sales tax paid for purchases of at least $5,000 for machinery and equipment used in the Enterprise Zone. Community Contributions Tax Credit Program Allows businesses a 50% credit on Florida corporate income tax, insurance premium tax, or sales tax refund for donations made to local community development projects. Businesses are not required to be located in the Enterprise Zone to be eligible for this credit. For more detailed information about these incentives visit the City’s website at www.lakelandgov.net or Enterprise Florida at www.floridaenterprisezones.com.
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MARTIN LUTHER KING JR. BLVD.
W. MEMORIAL BLVD.
WABASH AVENUE
Enterprise Zone Property Tax Credit (Corporate Income Tax) New or expanded businesses located within the Enterprise Zone are allowed a credit against Florida corporate income tax equal to 96% of ad valorem taxes paid on the new or improved property.
LINCOLN AVENUE
1OTH ST. WABASH AVENUE
Enterprise Zone Jobs Tax Credit (Sales and Use Tax) Allows a business located within the Enterprise Zone to take a sales and use tax credit for 20 percent of wages paid to new employees who reside within the Enterprise Zone. A business must create at least one new job to be eligible.
RO AD
PROVIDENCE ROAD
KA TH LE EN
Financial Incentives offered in Lakeland’s Enterprise Zone Enterprise Zone Jobs Tax Credit (Corporate Income Tax) Allows a business located within the Enterprise Zone to take a corporate income tax credit for 20 percent of wages paid to new employees who reside within the Enterprise Zone. A business must create at least one new job to be eligible.
N. FLORIDA AVENUE
Florida’s Enterprise Zone Program was created to provide the necessary means to assist local communities, their residents, and the private sector in creating greater economic activity in distressed areas and to provide jobs for residents of such areas. An Enterprise Zone is a specific geographic area targeted for economic revitalization. Designed to encourage economic growth and investments in the City’s urban core, the program offers tax advantages and incentives to businesses and property owners located within the Enterprise Zone.
Redevelopment and Economic Incentives Lakeland Community Redevelopment Agency The City of Lakeland is on a course of constant change and improvement. Many of the major changes occurring within the “core” of our city are as a direct result of activities of the Lakeland Community Redevelopment Agency (CRA). The CRA works in concert with the City of Lakeland to rebuild and revitalize many of our more challenged neighborhoods. The goal of the CRA is to continue to build and strengthen the heart of our city by providing the appropriate infrastructure and incentives for new and renewed property investment. Overview The City of Lakeland has four CRA target areas, or CRA districts. They are Downtown which was established in 1977, Dixieland and Mid Town which were created in 2001, and Williams which was created in 2002. Each of these areas are dependent taxing districts established by the local government for the purpose of carrying out redevelopment activities that include reducing or eliminating blight, improving the tax base, and encouraging public and private investments in the CRA. Organization The City Commission is the official Community Redevelopment Agency for Lakeland and each specific redevelopment area operates under the leadership of an Advisory Board.
ILL
YH
EP
SLE
RD
R
ILL D
LL H
E LAKE PARKER DR
MA
RD
BELLA VISTA ST
W TENTH ST
TENTH ST
EN
LE RD
N WABASH AV
LAKE PARKER
SOUTH BLVD
LAKE PARKER AV
LAKE BONNY PALMETTO ST
MCDONALD ST
ARIANA ST HARDEN BLVD
LAKE HOLLINGSWORTH
Please visit www.ldda.org and www.lakelandcra.net for additional information.
NEW JERSEY RD
WABASH AV
INGRAHAM AV
N FLORIDA AV MISSOURI AV FLORIDA AV
VD
BL
LAKE MORTON
98
ES
SIK
BEACON RD
14
LIME ST
ST
US
Dixieland CRA
ORANGE ST LIME
LAKE HUNTER
W HIGHLAND ST / GREENWOOD ST
E MAIN ST
HOLLINGSWORTH RD
S WABASH AV
OLIVE ST
Dixieland
RD
IN ST
LAKE BEULAH
GARY RD
LAKE MIRROR
W MA
S BLVD
JENKIN
OW
GEORGE
LAKE WIRE
PARKER ST
RT BA
LAKE BONNET
MASSACHUSETTS AV
MEMORIAL BLVD
Downtown CRA
Downtown
GRANADA ST
BELLA VISTA ST
FIFTH ST
Midtown CRA
Mid Town
(LAKELAND HILLS BLVD)
EN
PROVIDENCE RD
LE
D
LR
HIL
MASSACHUSETTS AV
MA
TH
MARTIN LUTHER KING BLVD
LL
KA
TH
CRA projects are funded by "tax increment financing"which works as follows: the value of real property in a redevelopment area is determined on a fixed date; as the value of the real property appreciates, the tax revenue on the appreciated portion of the value (the increment) is set aside for CRA projects; the City and County continue to collect the tax revenue on the original real property value. Most programs are designed to leverage tax increment by encouraging private developers to invest in CRA districts.
CR 582 (GRIFFIN RD)
KA
Projects and Funding CRA projects must serve a public purpose and must address concerns raised in the adopted redevelopment plans for each area. Possible CRA programs include street and streetscape improvements, park improvements, development of infill housing, recruitment of new businesses and partnership with job-training and placement services.
N FLORIDA AV
ROBSON ST
SYLVESTER RD
Housing Housing in Lakeland Median Home Age
34 Years
Average Sale Price
$106,090
Home Appreciation
-12.16%
Home Ownership Rate
47.46%
Renter Occupied
39.77%
Vacancy Rate
12.77%
Average Monthly Rent
$798
Millage Rate
4.1644
Existing Home Sales in Lakeland Year
Units Sold
Average Price
2001
2,561
$104,546
2002
2,629
$108,306
2003
2,883
$119,162
2004
2,938
$133,440
2005
3,676
$175,224
2006
3,371
$196,290
2007
2,233
$192,842
2008
1,857
$160,372
2009
2,357
$126,568
2010
2,421
$115,075
2011
2,456
$106,090
Source: Mid Florida Regional MLS
Housing Sales In Lakeland 4000 3500 3000 2500 2000 1500 1000 500 0
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
Housing Prices in Lakeland $250,000 $200,000 $150,000
Ranked #1 Hot Spot for Global Homebuyers by Inman News.com in 2012
$100,000 $50,000 $0
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 Average Annual Sales Price
15
Construction & Development Single Family Permits Year
Permits
Permit Valuation
2001
183
$ 21,043,478
2002
220
$ 28,611,809
2003
257
$ 34,200,806
1400
2004
380
$ 49,241,780
1000
2005
544
$179,996,957
800
2006
544
$ 99,101,767
400
2007
458
$107,385,621
2008
252
$ 55,438,488
2009
144
$ 29,771,733
2010
142
$ 30,467,000
2011
115
$ 25,139,223
Residential Construction Units 1200
600 200 0
2001
2002
2003
2004
2005
2006
2007
Single Family
2008
2009
2010
2011
Multi-Family
Commercial/Industrial Square Foot Permitted Year 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
Warehouse/Industrial 508,656 139,373 1,537,656 456,816 1,047,852 926,792 24,446 76,000 103,482 890,718
Commercial Office 84,393 113,486 122,057 81,231 190,472 92,825 103,447 101,517 81,857 11,522
Commercial Retail 184,094 155,607 543,717 447,596 443,846 324,051 97,557 3,215 18,046 50,031
In November of 2011 Realtor.com listed Lakeland as 7th on their national list of cities that are leading towards a general real estate recovery and a stabilization of the housing sector. Total Permit Valuation $600,000,000 $500,000,000 $400,000,000 $300,000,000 $200,000,000 $100,000,000 $0
2001
2002
2003
2004
2005
16
2006
2007
2008
2009
2010
2011