February 2023 Southwest Florida Business Today

COMMERCIAL REAL ESTATE MARKET

A look at commercial real estate trends & topics in Southwest Florida

Symposium discusses SWFL rental market

Special to SWFBT

Submitted by Karen

P. Moore,

Publisher

The dynamics of population growth and “The Future of Rental Housing” were addressed by a panel at the annual 2022 Real Estate Symposium.

Financial Review

Financial industry professionals in Southwest Florida share tips to improve company financial operations.

The panel, moderated by Phil Fischler of Fischler Property Company, included Danville Leadbetter of Soltura Development Group, Joe Bonora of Catalyst Asset Manage-

LEVERAGING LEGACIES

ment and Michael Allan of ReVital Development Group.

How is the SWFL rental homes market changing?

Leadbetter shared, “I formed a company with a partner almost five years ago primarily to develop hori-

zontal apartments. So what is a horizontal apartment? It’s a 1-, 2-, 3-bedroom home that’s in an apartment setting. It’s rented and professionally managed just like apartments. It’s set up just as an apartment is, so as you’re coming into a parking lot, you’re going to your parking stall, but then you’re walking to a freestanding small four-sided home. We do one- and twostory product.

RENTAL See page 12

COMMERCIAL REAL ESTATE

A

look at commercial real estate trends & topics in

Commercial Real Estate

Family Business Conference offers invaluable insight

Special to SWFBT

Submitted by Karen P.

Moore, Publisher

At the first Resnick-Wynn Family Business Conference in March 2022, keynote speaker Steve Forbes, CEO of family-owned Forbes Media, noted, “Family business is the backbone of the U.S. economy, creating dynamism and upward mobility.” He continued, “Family-owned businesses make up 57% of our Gross Domestic Product; 60% of the jobs and 80% of our coun-

IN THE NEWS

Cape Coral Small Business class now accepting applications

More than 500 local businesses have emerged from the Goodwill Southwest Florida MicroEnterprise Institute. This six-week small business development program helps lowto-moderate income emerging entrepreneurs start new ventures and grow small businesses.

Individuals who are thinking about

starting their own business, but need some mentoring are invited to apply for the Cape Coral class, scheduled for Feb. 27 – April 6. Classes are scheduled from 6 to 9 p.m. on Monday and Thursday evenings at a city annex on Nicholas Parkway in Cape Coral. Attendance limited, sign up now.

Graduates complete a comprehensive training course and prepare a solid CLASS See page 6

try’s wealth generation.”

The family business conference was created by Michael Wynn and John and Billie Resnick to support the success and survival of family businesses in Southwest Florida.

Wynn, who is a fourth-generation leader of Sunshine Ace Hardware, headquartered in Bonita Springs, stated, “According to the U.S. Census, about 90% of all American companies are family-owned or controlled. Yet the survival statistics are stark. Only

one-third of family-owned firms survive to the second generation and just thirteen percent make it to the third generation. This event was created to improve those odds.”

John Resnick noted, “The purpose of this event is to create a ‘safe harbor’ atmosphere for family business owners to share their knowledge and experiences because succession planning is essential: it starts from Day One.”

FAMILY See page 14

IMPORTANT BUSINESS NOTES

 Moore About Business

Kick off your business week with “Moore About Business”! Tune in to SWFL PBS and National Public Radio (NPR) affiliate, WGCU radio at 90.1 FM, during Morning Edition and All Things Considered to hear SWFBT founder, owner and publisher Karen P. Moore share information and insights for and about our local business community. Listen to past segments at https://news.wgcu.org/karen-moore-1.



Paycheck Protection Program Loan Taxation

To receive loan forgiveness so you will not be taxed on the loan, you must complete the simple application and receive approval. Contact your PPP lender ASAP for more info.



SWFBT News Updates

To get current business news throughout the business day, visit www.swfloridabusinesstoday.com.

Steve Forbes, CEO of Forbes Media, speaks with Michael Wynn at the inaugural Resnick-Wynn Family Business Conference in March 2022. He called family businesses the “backbone of the U.S. economy.

Part one of a multi-part series about the current SWFL real estate marketplace

A specially focused monthly feature exploring the SWFL commercial real estate marketplace.

Southwest

Important business tax changes arrive for 2023

Here’s what small business owners need to know about tax law changes and inflation adjustments for the year ahead.

Standard Mileage Rates: In 2023, the rate for business miles driven is 65.5 cents, up 3 cents from the midyear increase setting the rate for the second half of 2022

Section 179 Expensing: In 2023, the Section 179 expense deduction increases to a maximum deduction of $1,160,000 of the first $2,890,000 of qualifying equipment placed in service during the current tax year. This amount is indexed to inflation for tax years after 2018. The deduction was enhanced under the TCJA to include improvements to nonresidential qualified real property such as roofs, fire protection, alarm systems and security systems, and heating, ventilation and air-conditioning systems. Also of note is that costs associated with the purchase of any sport utility vehicle, treated as a Section 179 expense, cannot exceed $28,900.

Bonus Depreciation: Businesses are allowed to immediately deduct 100% of the cost of eligible property placed in service after September 27, 2017, and before January 1, 2023, after which it will be phased downward over a four-year period: 80% in 2023, 60% in 2024, 40% in 2025, 20% in 2026, and 0% in 2027 and years beyond.

BY W. BRADLEY COOPER JR. Guest Columnist

Qualified Business Income Deduction: Eligible taxpayers can deduct up to 20% of certain business income from qualified domestic businesses and certain dividends. To qualify for the deduction, business income must not exceed a certain dollar amount. In 2023, these threshold amounts are $182,100 for single and head-of-household filers and $364,200 for married taxpayers filing joint returns.

Research & Development Tax Credit: Starting in 2018, businesses with less than $50 million in gross receipts can use this credit to offset alternative minimum tax. Certain start-up businesses that might not have any income tax liability will be able to offset payroll taxes with the credit as well.

Work Opportunity Tax Credit (WOTC): Extended through 2025 (The Consolidated Appropriations Act, 2022), the Work Opportunity Tax Credit is available for employers who hire long-term unemployed individuals (unemployed for 27 weeks or more) and is generally equal to 40% of the first $6,000 of wages paid to a new hire.

Employee Health Insurance Expenses: For taxable years beginning in 2023, the dollar amount of average wages is $30,700 ($28,700 in 2022). This amount is used for limiting the small employer health insurance credit and determining who is an eligible small employer for the credit.

Business Meals and Entertainment Expenses: Taxpayers who incur food and beverage expenses associated with operating a trade or business can deduct 50% of these expenses in 2023.

Employer-provided Transportation Fringe Benefits: If you provide transportation fringe benefits to your employees in 2023, the maximum monthly limitation for transportation in a commuter highway vehicle, as well as any transit pass, is $300. The monthly limitation for qualified parking is $300. While this checklist outlines important tax changes for 2023, additional changes in tax law are likely to arise during the year ahead. Do not hesitate to contact the office if you have any questions or want a head start on tax planning for your small business in the year ahead.

W. Bradley Cooper Jr. operates an accounting and bookkeeping firm in Fort Myers currently servicing hundreds of small to medium-sized businesses. Contact (239) 275-4511.

Local PR chapter announces call for entries for Image Awards

The Southwest Florida chapter of the Florida Public Relations Association is accepting submissions for its 2023 Local Image Awards competition. Local Image Awards are held annually and recognize the best public relations, communications and marketing efforts in Southwest Florida during the past year.

The contest is open to FPRA members and non-members as well as stu-

dents. Winners will be announced at the Local Image Awards event on April 27. Entries must be received no later than 11:59 p.m. on Feb. 27 on the FPRA Image Awards website at FPRAImage.org.

The competition includes four divisions: Public Relations Programs, Printed Tools of Public Relations, Digital Tools of Public Relations and Student Projects in Public Relations. Within these

divisions are multiple categories. Submissions for awards must be presented in a detailed and specific format, as directed by the Call for Entries. The 2023 Call for Entries can be viewed in full from the Image Awards page at www.fpraswfl. org/professional-development/imageawards.

The local FPRA chapter Image Awards competition is the precursor to

FPRA’s Golden Image Awards where the winners participate in a statewide competition. Entries can vary from a print brochure, commercial, website and viral video to a full public relations campaign. Winners will be evaluated based on evidence of sound research and planning as well as having met the highest standard of production, execution and evaluation of results and budget.

Here they go again ... Late-breaking IRS changes

In a last minute about face, the Internal Revenue Service is rolling back the requirement for third-party payment providers to issue 1099-Ks for anyone receiving payments over $600 in 2022. The IRS is moving the reporting requirement back to $20,000 in activity and 200 or more transactions as they transition to the lower threshold in 2023.

Why the change?

The bottom line? The IRS is not ready to figure out how to automate the auditing of those under-reporting their income from things like Ebay, Esty and Amazon sales or from sales of tickets and other goods through payment systems like Venmo and Ticketmaster.

What does not change?

While this last-minute change may keep you from receiving a 1099-K this year, don’t count on it. Many providers are already geared up to send them out and will probably do so, since the IRS reprieve in

reporting is temporary. So keep your eyes open for these forms throughout January and early February. While the IRS informational return reporting is temporarily changing, what is not changing is your requirement to report this income. So if you have activities that provide income to you, including your side hustle buying and selling event tickets, that activity is reportable on your tax return.

Stay tuned

In further developments, Congress is up to their old tricks in changing the rules at the end of the year. Preliminary review indicates the major changes will impact 2023 and beyond. So stay tuned, future tax tips will lay out the basic tax law changes and how you can take advantage of them.

Nelson Accounting Services is a certified public accountant firm based in Bonita Springs. Contact (239) 829-5979.

SWFL Business Summit celebrates the failures

More than 70 local business owners and entrepreneurs met for the SW Florida Business Summit hosted Jan. 12 by Top Notch University, and owner J.D. Ribali. The event provided dynamic Southwest Florida leaders who celebrated their passion for entrepreneurship, but more importantly enthralled the crowd by sharing their failures along the way

that created their success. Guest speakers for the event included: Joe Nugent, Joe the Home Pro; Dr. Sandra Kauanui, Florida Gulf Coast University School of Entrepreneurship; Bill Daubmann, My Shower Door; and Richard Johnson, Rick Johnson Auto and Tire.

Flowing Flowing with

with possibilities

Richard Johnson of Rick Johnson Auto and Tire was one of the speakers at the SW Florida Business Summit.

TaxWatch spotlights private investment in infrastructure FINANCIAL REVIEW

Florida TaxWatch released “Using Public-Private Partnerships and Public-Public Partnerships to Meet the Growing Demands for Public Infrastructure,” a report highlighting the opportunity for increased private sector investment in Florida’s critical public infrastructure. FTW also outlined recommendations for facilitating such investment, drawing from well-planned and successfully executed infrastructure-related public-private partnerships and public-public partnerships in Florida and other states.

Florida TaxWatch President and CEO Dominic M. Calabro said, “Florida’s population has been rapidly increasing and will continue growing at a steady pace, placing considerable demands on our public infrastructure in the years ahead. When compounded by resiliency risks, rising sea levels, and more frequent and intense coastal storms, the state will need additional funds to build and maintain everything from roads and bridges to airports and seaports to wastewater treatment plants. With public funding constraints often slowing project starts, the focus can now shift to private sector investment, a vehicle to accelerate much needed local projects.

“In particular, public-private partnerships and public-public partnerships – where a non-government entity shares the financial risks for a project in the public interest – can go a long way in helping meet future infrastructure needs, as they have been shown to lower project costs, improve the schedule for delivery and provide other public benefits, while also fostering job creation, economic development and competition.

“To that end, Florida TaxWatch presents this

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“In particular, public-private partnerships and public-public partnerships – where a non-government entity shares the financial risks for a project in the public interest – can go a long way in helping meet future infrastructure needs.”

— Dominic M. Calabro, Florida TaxWatch President and CEO

comprehensive research to encourage policymakers to address the hurdles in Florida law that often deter or prevent private entities from engaging in these infrastructure-related projects, and we stand ready to assist the Florida Legislature in efforts that will allow for the quick and straightforward implementation of such proposals – of course, while still maintaining transparency, accountability and taxpayer value.”

According to FTW, the gap between Florida’s infrastructure needs and the state’s current funding is nearly $2.59 trillion over 10 years. By 2039, a continued underinvestment in Florida’s infrastructure at current rates will have serious economic consequences, including $10 trillion in lost Gross Domestic Product, more than 3 million lost jobs, and $2.4 trillion in lost exports, which will cost the average Florida household $3,300 a year.

While the Florida Legislature has acknowledged the need for private investment in infrastructure, FTW identifies PPPs and PUPs as specific solutions. PPPs are contractual arrangements between public and private sector partners that typically involve a government or public agency contracting with a private entity to perform functions normally undertaken by a public agency, with the agency remain-

ing ultimately responsible for the public function. PUPs are collaborations between two or more public entities, such as a public authority or nonprofit organization, to pool their resources to provide or improve public services, and unlike PPPs, neither partner in a PUP expects to earn a profit from the collaboration – the goal is to improve efficiency and lower the costs.

FTW asserts by shifting responsibility for the construction, long-term operation, and/or maintenance to a non-government entity, these projects provide a powerful incentive to ensure quality construction, since the private partner will share the financial risk, thereby enabling the public partner to focus on the outcome-based public value they are trying to create.

Finally, due to the slow pace of government procurement, FTW believes there should be legislative effort to “fast track” infrastructure proposals wherein a non-government entity shares the financial risks for the project and the project proves to be in the public interest. To accomplish this goal, FTW provides six recommendations for the Florida Legislature’s consideration, ranging from amendments to Florida Statutes to creating an Office of Infrastructure Investment that reports to the governor.

From college to the Cattyshack Cafe

Receiving the Soaring Eagle Award has been a surreal experience for Andrew Townsend.

“I’m blown away by it,” the Fort Myers resident said. “I knew I was nominated, but I also am very aware that there are a lot of other successful people in business and management positions who’ve graduated from FGCU and received the award. I’m very humbled by it. I’m very grateful. I think it’s one of the biggest accomplishments of my life and I’m very proud of it.”

...is what keeps you and your

Townsend co-owns the Cattyshack Café in Gulf Coast Town Center. The business serves coffee, pastries, beer and wine, but the main attraction is the opportunity to commune with adoptable cats and kittens in a separate room. He partnered with Gulf Coast Humane Society to help more than 1,000 rescue cats find homes in just the last year.

Cattyshack General Manager Maureen McLaughlin nominated Townsend for the award, crediting him with starting a business to help the Southwest Florida community, including partnering with other area businesses.

“He works hard to ensure the business thrives every day and has made waves even beyond Fort Myers,” she added. “Gulf Coast Humane Society has pulled shelter cats from as far as Orlando and Sebring to bring to Cattyshack to find better lives. In just a few months Andrew’s business has exceeded expectations and I am sure he will continue to do so.”

FGCU SOARING EAGLE

Townsend

New date set for TechXpedition

A new date has been set for the inaugural TechXpedition startup challenge at Babcock Ranch. Originally slated for November, the competition was postponed to allow prospective competitors and event volunteers to focus on recovery in the wake of Hurricane Ian. With the competition now set for April 14-16, organizers have reopened registration.

TechXpedition will give up to 60 budding entrepreneurs an opportunity to compete for $10,000 in preseed startup investment to help get their innovations to market. The 54-hour event is being organized and presented by MoAloo Ventures, a venture capital firm led by Babcock Resident Priya Ahluwalia. Sponsors include Babcock Ranch, Florida Gulf Coast University Foundation, Chuck Ketteman and 35 Mules, the innovation hub launched by Florida Power & Light.

“My husband and I have participated as mentors in numerous startup challenge weekends all over the country and have seen how effective they are in helping entrepreneurs take their startup up ideas from concept to the marketplace in a very short period of time,” Ahluwalia said.

Immokalee Foundation receives $15,000 grant

Suncoast Credit Union Foundation recently awarded a $15,000 grant to The Immokalee Foundation to support its career-focused educational programming and training through Career Pathways, the Foundation’s comprehensive curriculum that prepares its students for in-demand, well-paying careers in Business Management & Entrepreneurship, Education & Human Services, Engineering & Construction Management and Healthcare.

“The Suncoast Credit Union Foundation is active in promoting the education, health and emotional well-being of children in the communities we serve, so this program is the perfect fit,” said Kourtney Berry, executive director of the Suncoast Credit Union Foundation. “With this grant, we hope that The Immokalee Foundation will be able to impact more children in their community by fostering lasting relationships to serve them for a lifetime.”

Suncoast Credit Union is the largest credit union

SUMMIT PAGE 3

Master of Ceremonies John Huffman, of Huffman Construction Group, also showcased the stories of the young entrepreneurs in the area that are a part of the Biz Kidz, a local student expo that provides 7- to 17-year-old students an opportunity with experience and mentorship to encourage and nurture the entrepreneurial spirit of young people.

headquartered in the state of Florida, the 10th largest in the United States based on membership, and the 10th largest in the United States based on its more than $15 billion in assets. Chartered in 1934 as Hillsborough County Teachers Credit Union, Suncoast Credit Union currently operates 75 fullservice branches and serves more than a million members in 40 counties across Florida.

“From the beginning, Suncoast has been focused on education and educators,” said Noemi Y. Perez, president and CEO of The Immokalee Foundation.

“Today, we share a goal of placing the youth of Immokalee on a path toward future careers and financial independence. The Immokalee Foundation is honored to be a part of Suncoast’s rich history of care and support.”

Since its founding in 1990, the Suncoast Credit Union Foundation has raised and donated more than $36 million to organizations and initiatives.

Student stories came from Kaci Richardson, winner of the 2022 expo with a $1,000 cash prize, who started Kaci’s Cakes and Bakes in Cape Coral. Also highlighted were Emily Hamilton of Emily’s Baked Goods and Izzy Gallegos of Big Boy’s Peanut Butter Treats.

Through The YEARS Foundation, Biz Kidz Expo will be hosting an event on Saturday, April 15, at the Coastland Mall in Naples. Registration is open at bizkidzexpo.com.

“The startup challenge weekend is really just the beginning for us. We’re already looking toward creating an incubator so that new businesses that come to life here at Babcock Ranch stay here and help grow our community.”

The competition weekend will kick off with oneminute idea pitches from each of the competitors. All of the competitors will cast votes for the ideas they believe have the greatest potential, and then form teams around the top-ranked ideas. With guidance from an impressive team of volunteer mentors, and the opportunity to iterate their concepts in Babcock High School’s state-of-the-art Make Tank, the teams will create product prototypes and develop comprehensive business plans under a very tight deadline. The event culminates Sunday evening with five-minute presentations by each team to the judges who will determine which startup merits investment.

“Babcock Ranch’s focus on sustainability, combined with an innovation mindset, creates a ‘living laboratory’ environment for piloting exciting new technologies,” said Lucienne Pears, vice president of Business and Economic Development for Babcock Ranch. “When we were approached with the idea of creating a tech startup challenge to foster innovation at its earliest stages, we realized this type of event was a perfect fit for our community.”

There’s no charge to apply, and the competition is open to Innovators of ALL ages who have ideas for launching a new business that leverages technology to deliver products and services in new ways. In addition to the grand prize, competitors will have the opportunity to network and establish relationships with sponsoring organizations.

The application is available to complete online at www.babcockranchforbusiness.com/TechXpedition.

Education Human Services Pathway student Kevin H. has his eye on a career as an immigration or criminal attorney.

The future of water demands bold action

Without question, the water industry is evolving and facing new – and old – challenges: water scarcity, extreme weather and droughts, water quality and aging infrastructure, to name a few. The industry has a great opportunity to think differently about what the future of water will look like and how we get there.

Black & Veatch’s 2022 Water Report, based on expert analyses of a survey of more than 300 stakeholders in America’s water, wastewater and stormwater sectors, illustrates that water industry decision-makers are embracing change and the opportunity it presents.

A Snapshot of the Industry Today

The challenge of age was a major theme in the report, and it showed up in two main areas: workforce and infrastructure. As workers age out of the water utility industry and retire, taking their institutional knowledge of complex systems with them, there aren’t enough skilled workers to replace them. Aging water and sewer infrastructure, such as leaky pipelines, waste billions of gallons of water annually. Unsurprisingly, workforce-related issues were top of mind in the Black & Veatch survey rankings, with the challenge of hiring qualified staff now climbing to No. 2, behind aging infrastructure.

Another finding from the Black & Veatch report is that sustainability and decarbonization have emerged as pressures the industry no longer can ignore. The need for sustainability – and how decarbonization can and should fit into sustainability goals – is at the forefront of conversations as water and wastewater utility decision-makers are more aware of the need to get greener. Overall, nearly two-thirds of respondents consider sustainability a critical strategic focus in the water sector, and 72% of respondents now say their enterprise has sustainability goals and means to measure them. Slightly more than half say separately they’ve adopted sustainability goals without pressure from community or regulatory forces.

New vision for future of water

Across the U.S. and in many other countries, water issues are becoming more prevalent and are only expected to worsen. Looking at the results of the Black & Veatch survey in light of recent water crisis-related headlines, it is clear the time for bold action is now.

Virtual seminar talks HR mistakes

businesses make

BY MIKE ORTH Guest Columnist

One way to do this is to reuse water and optimize every drop. The concept of wastewater being treated and reused as drinking water, while sometimes met with skepticism, is being employed throughout the world. These are safe and effective processes that leverage cutting-edge digital sensors that provide real-time feedback on water quality. With the right levels of investment and concerted efforts by civic leaders to overcome the public’s misconceptions around water reuse, water reuse practices have the potential to make a significant difference.

Another area to explore is to look for new sources of water. While desalination technology has existed for years, it is getting renewed interest as a response to recent extreme heat and drought. Desalination alone won’t solve the water crisis, but it is a valuable part of the effort to balance supply and demand challenges. Technologies continue to improve to address the environmental impact, costs and energy efficiency of desalination facilities.

While the Black & Veatch survey emphasizes the many challenges facing the water industry today, it also illustrates the opportunity to think in new ways about what is possible in addressing these pain points. With more investment and bold action, we can secure our water future.

Mike Orth is president of Governments & Environments at Black & Veatch, a sponsor of the 35th annual Edison Awards taking place in Fort Myers on April 19, www.edisonawards.com. Contact Mike at (913) 458-2000.

Registration is open for the virtual seminar, “Top 10 HR Mistakes Businesses Make” on Feb. 23 from 8 to 9 a.m. The virtual seminar is open to all businesses and individuals. The presenter is Karen Shepherd, founder of HR by Karen, a human resources consulting company. Shepherd is also a certified professional through the Society for Human Resource Management and immediate past president of SHRM-HR Collier.

Seminar participants will learn tactics for avoiding litigation or equal employment opportunity commission claims, get clarity on the classifications of employees, including the difference between an employee and independent contractor and more. Register for the seminar hrbykaren.com.

During online registration, consider making a voluntary donation to support Taste of Immokalee, a student-created and student-run social enterprise that aims to improve the lives of youths in our community by providing them with the foundational skills needed to be successful in their career paths.

Utilizing Bitcoin as pristine collateral for mortgages

By Matty Ice Guest Columnist

Part 2 of 2

Additionally, because Bitcoin is not controlled by a central authority, it can potentially provide more flexibility and freedom in terms of making and receiving payments. This can make it an attractive option for those who are looking to avoid the fees and restrictions that are often associated with traditional financial institutions.

However, there are also some potential drawbacks to using Bitcoin as collateral for a mortgage. One major concern is the volatility of the value of Bitcoin. Because the price of Bitcoin can fluctuate rapidly, it may not be a reliable form of collateral if the value drops significantly before the loan is repaid. This means that there is a potential risk that the borrower could end up owing more than the value of the Bitcoin they used as collateral, which could

CLASS PAGE 1

plan to guide their start-ups. They work with mentors who are successful businesspeople and hear from subject matter experts in areas of accounting, legal, marketing, insurance and funding. An easy-to-use workbook, used by

put them in a difficult financial situation. Additionally, the use of Bitcoin as collateral may be subject to varying regulations depending on the location of the borrower and lender, which could create uncertainty and complexity in the loan process.

In order to mitigate these risks, it is important for both borrowers and lenders to carefully consider the potential benefits and drawbacks of using Bitcoin as collateral for a mortgage. Borrowers should carefully assess their ability to repay the loan, considering the potential fluctuations in the value of Bitcoin. Lenders, on the other hand, should carefully evaluate the borrower’s ability to repay the loan and should consider implementing risk management strategies, such as requiring a higher down payment or setting limits on the amount of Bitcoin that can be used as collateral. When it comes to mortgages, I believe there is a lot of potential in augmenting the process to maybe remove PMI Obligations or potentially offer Bitcoin as extra collateral in addition

organizations across America, assist in transforming vision into a plan for a successful business.

A recent program graduate said, “This course helped me to organize and plan out the steps for creating my business. Coming in, I had no idea how to start a business that would lead to success, and now I have that.”

to the property being collateral on a loan. By offering additional Bitcoin as collateral in addition to the property itself, perhaps a mortgage company will offer better rates for purchasers.

While using Bitcoin as collateral for a mortgage may be an option in some cases, it is important to carefully consider potential risks and benefits. It may be wise to consult with a financial advisor or other expert before deciding. By carefully assessing the potential risks and benefits, borrowers and lenders can make informed decisions and can help to ensure the use of Bitcoin as collateral for a mortgage is a successful and sustainable practice. This is just the beginning of a concept that will continue to gain steam over the years and is being worked out by many new companies right now.

Matty Ice is CEO of Consensus Protocol. Contact him at Matty@consensusprotocol.org of (239) 682-2247.

To apply, visit www.goodwillswfl. org/microenterprise, or call (239) 9952106 ext. 2215. The session is $80; Volunteer hours can be substituted for the fee if income requirements are met. For more information, email Sandra Plazas at sandraplazas@goodwillswfl.org.

The Goodwill Southwest Florida MicroEnterprise Institute is adminis-

trated by the nonprofit Goodwill Industries of Southwest Florida and is part of Goodwill’s mission of providing life-changing opportunities toward independence for those with disabilities and disadvantages.

For more information about Goodwill Industries of Southwest Florida, visit www.goodwillswfl.org.

BCB Homes’ Career Pathway Program hires new young professionals

BCB Homes in 2021 launched its Career Pathways Program. Its overwhelming success led the luxury home builder to hire another new crop of young professionals to participate in this year’s program.

BCB Homes’ Career Pathway Program is an outreach program that ushers in a new generation of skilled labor in an aging workforce. Also known as a “Career-in-a-Year,” the job is equivalent to a yearlong career experience broken up into segments ranging from six to 15 weeks, designed to equip young professionals for careers in the building industry.

According to Jon Bremseth, director of Education and Training for BCB Homes, “the program teaches participants the fundamentals of the industry and helps them gain experience in the major aspects of construction.”

Not only are the participants learning the construction industry through first-hand experience, but they also are making connections inside the organization itself. “The program is truly a company-wide initiative that requires employees of all departments and of different levels to contribute to the exposure, experiences, learning, and reflections of the Career Pathway Professionals,” Bremseth said. “It is a BCB Homes investment in future employees.”

To select the new cohort of employees, “BCB Homes looks for young professionals who have a

passion for the industry and a desire to learn and grow with the company,” Bremseth said. “We have selected individuals with experience in the industry as well as those with little or no exposure, but each of them wants to learn and grow with BCB Homes.”

As for the program itself, once participants are selected, BCB Homes pays them a competitive hourly wage and provides full-time employees a benefits package starting day one of the program.

“The goals of this program are simple. The more exposure, understanding, and knowledge an employee has about BCB Homes, our culture, and our building process, the more valuable they become to the company. As the professionals progress through the program, they begin to find a ‘fit’ within BCB Homes that align with their interests and skills,” Bremseth said.

Upon being hired, participants are expected to work a full workweek and/or complete program requirements based on the section and format of their position. Participants also attend scheduled meetings with construction professionals, including BCB leadership, to track progress and review what they’ve learned and their reflections of the program.

Patricia Connell, Director of Human Resources noted, “The Career Pathways Professionals interact daily with other BCB Homes employees; they are mentored in each of the departments they are trained

Tamiami Angel Funds invests in high-tech 3D printing firm

Angel investors from Southwest Florida raised capital for M Aerospace RTC so the company can grow its high-tech 3D printer business for the aerospace, health care and auto industries.

Members of Tamiami Angel Fund IV invested $420,000 in M Aerospace RTC, helping the company expand its manufacturing space and grow sales. “M Aerospace has developed the world’s first affordable large-format 3D printer, giving the firm a significant edge over the competition,” said Timothy Cartwright, partner of Fifth Avenue Family Office and chairman of Tamiami Angel Funds.

Austin, Texas-based M Aerospace manufactures large 3D printers eight feet tall by eight feet wide to make high-precision metal and plastic parts. The company also provides contract manufacturing for clients who are considering buying the $150,000 printer. A 3D printer allows manufacturers to be more efficient because unique parts can be easily designed and created using sophisticated software.

M Aerospace’s 3D printers cost 50% less than the competition, said

Juan Carlos Munguia, CEO and cofounder. “We’re seeing huge demand for our printer business and this funding will help us nearly double our production capacity,” he notes.

An aeronautical engineer, Munguia developed 3D printing programs for aerospace companies prior to forming M Aerospace in 2018 with two co-founders in Mexico. The company moved its headquarters to Texas last year to be closer to investors and clients while maintaining its manufacturing facility in Mexico.

In addition to funds to expand the business, Munguia said he’s keen to tap into the knowledge and experience of the members of Tamiami Angel Funds, many of whom have extensive backgrounds in manufacturing. “With their expertise they’ll help us take our company to the next level,” Munguia said.

Naples-based Tamiami Angel Funds are member-managed funds that allow high-net-worth individuals and families to invest in promising early stage and expansion-stage companies located in the U.S., with a preference to those in the state of Florida.

in and spend time working independently on projects. They spend a lot of time on job sites getting hands-on experience but also work with mentors in our estimating and project management departments. These young professionals are welcomed unreservedly and almost immediately become part of the fabric of BCB Homes.”

Upon completion of the year-long Career Pathway Program, BCB Homes often offers participants the opportunity to obtain a full-time position based on their experience, preference and professional fit with the company.

The Career Pathway Program was started in 2021 by Bill McCollum, chief estimator at BCB Homes. “The idea was to find a way to improve the labor force within our market knowing that there was a demand for individuals in the construction industry,” McCollum said. “We had to figure out a way to attract young adults coming out of high school and college that may not have a true career direction and how we could better assist them and provide opportunities within the industry.

“Once the program was set in motion. The goal was to provide exposure to all aspects within the company including estate management, field experience as a superintendent, estimating/preconstruction, and project management. We provide the exposure, and they decide on the path.”

Junior Achievement awarded Community Foundation grant

Junior Achievement of Southwest Florida recently received a $5,000 grant from The Community Foundation (formerly the Cape Coral Community Foundation) to provide workforce readiness, entrepreneurship and financial literacy programming in Cape Coral schools.

“Generous donors make it possible for us to help provide students with the skills and knowledge to succeed in their careers and in life,” said Angela Fisher, president and CEO of Junior Achievement of Southwest Florida. “JA offers students the opportunity to network with local business leaders who guide lessons, mentor, inspire young people, and share insight and experiences while serving as role models. Programs like JA Inspire wouldn’t be possible without the support of grants like this one from The Community Foundation and its generous donors.”

Middle and high school students in Cape Coral will be better prepared for their transition into adulthood and the working world with a higher rate of success as

the result of JA programs supported by the Community Foundation grant. JA work readiness programs include JA Inspire, JA Career Connect, JA Career Exploration Fairs, JA It’s My Future, JA Career Success, JA Job Shadows, JA Career Speaker Series, and JA Economics for Success. Alumni of these programs have a track record of earning a college degree, having confidence in managing money, and achieving career success. Many have started their own business.

According to President and CEO Michael Chatman, education and connection are the keys to fulfilling The Community Foundation’s directive to become the Global Center for Generosity.

“Giving isn’t just about writing checks. It’s about relationships and advocating for people and organizations that are doing good in the world, as well as those who want to help them. That’s why Junior Achievement of Southwest Florida is a perfect fit for a Community Foundation grant,” Chatman said.

It is all about the money

Can you sell a property today you bought 15 years ago, knowing then you would make five to 10 times your investment?

The problem is, you may not have any more buying power today than you did with the money you spent 15 years ago. Your sale price may be high, but did you win?

will? Stay at or near the bottom of the financial food chain unless you can increase your talents to get to a much higher pay level.

GMA Architects & Planners completed work for Shops on Pine Island, a multi-tenant commercial center in Cape Coral.

GMA completes Shops on Pine Island in Cape Coral

GMA Architects & Planners completed work for Shops on Pine Island, a multi-tenant commercial center in Cape Coral.

The Shops on Pine Island project consists of two grey-shell buildings totaling 23,790 square feet at the northwest corner of Del Prado Boulevard and Pine Island Road. This sector of Pine Island Road has experienced a recent boom in development at the hightraffic intersection, which serves as the traditional north-to-south connector through the city.

GMA Architects & Planners’ design features clean, modern lines and undulating facades that present a refreshing contrast to the surrounding traditional

strip mall and national chain architecture. Building A is an 11,790-squarefoot space envisioned to house five retail or restaurant spaces varying in size from 1,400 to 3,750 square feet and includes an exterior covered patio. Its 12,000-square-foot sister, Building B, anticipates another four retail spaces ranging from 1,600 to 4,500 square feet. The entrances to both buildings include inviting shaded colonnades. Tenants of the center include Firehouse Subs, First Watch and Mission BBQ, among others.

GMA Architects & Planners’ partners on the project included Thompson Thrift as developer and Heatherwood Construction as contractor.

The amount of money from yesterday is not an absolute number. Government policies over the last 100 years have continued to devalue our currency.

I’ve witnessed the extent of how buying power has changed during my lifetime. What you bought for $100 in 1952 would have a price tag of $1,000 today. McDonald’s is a great example. In 1961, I could buy a much better hamburger plus a large chocolate shake for 35 cents (15 cents for the burger and 20 cents for the real hand dipped ice cream shake)!

In 1952, minimum wage was 75 cents an hour and the median price of a home was $7,354. Today in Florida, minimum wage is $11 an hour, and the median price of a house is $385,800. It’s all relative. Or is it? Florida has raised minimum wage from $8.65 to $11, a 27% increase, in the last two years. But is minimum wage in step with the escalating cost of living? Have you been to the grocery store lately? And what about real estate that has nearly doubled in price in three years. I can’t think of anything that hasn’t increased by at least 30% during that time. The house we purchased for $495,000 in 2017 is valued at $1,100,000 today.

The question is, regardless of incremental increases on both sides of the scales over the years, has anyone making minimum wage ever been able to balance their scales with the evergrowing cost of living? The answer is never. But why?

The government has a vested interest in perpetually inflating the currency— paying yesterday’s bills with tomorrow’s money. Sadly, leaders are well aware inflation hits the lowest income earners the hardest, which apparently is of no concern to them as long as they get what they want.

What can a renter do when rents are increasing faster than wages ever

BY RANDY KRISE Guest Columnist

Inflation isn’t going anywhere and combating the cost of living is ongoing, so what’s the answer for the savvy investor?

I bought my first property for $23,000. I didn’t have that kind of money in my pocket, but I wanted it badly enough to get creative. I could see the potential for that piece of land even then. It was a risk I am happy I took. I held it for 26 years and sold it for $890,000. Was that really that much of a win? Depends on how you look at it. That $23,000 was a lot of money back then, especially for a young man just starting out in the investment world. But even with the long hold, it proves one thing; real estate is a great hedge against inflation.

If you are smart, develop a good eye and think outside of the box, you can buy the right property and be ahead of the curve at the end of the day. Is it a risk? Always. Everything in life worth having is. But you will always have that asset to grow when the right time comes along.

When’s the right time? Your best teachers are watching and waiting, talking to the right people who have done it (I’m always available), and experience. You can’t become an investor without investing, any more than you can become a swimmer without jumping into the water. Knowledge is an asset that no one can take from you. Only solid investments will help you keep up with inflation and maintain or increase your standard of living. At a minimum, own your home. Real estate is a vehicle that will put you on the road to equity in life.

Randy Krise, CCIM is the broker/owner of Krise Commercial Group in Fort Myers Florida. He can be reached at (239) 633-8672 or Randy@krisecg. com.

Hurricane Ian continues to affect SWFL real estate market

The Bonita Springs and Estero real estate market remains squarely in a seller’s market but one without the sense of urgency that was in the market previously. This is reflected in the medium price sitting at $515,000 in November 2022, a 15.3% increase from last year.

The average days on market has increased and is now averaging 31 days, which is a large difference from averaging 17 days in November 2021. Prices are higher and properties are taking longer to sell.

“This lack of urgency will most likely help keep prices in check. For buyers, real estate has returned to being a long-term investment and they’re being more selective on the properties being considered. For sellers that recognize this paradigm shift, it will potentially result in a relatively quick sale at a strong price,” said Steve Kolenda, Managing Broker for Berkshire Hathaway Florida Realty’s office in Bonita Springs.

Suzanne McGuire, Broker and Owner at NextHome Coast2Coast said,” The most important thing in the current market is where you price your home. In the last seven days, our market had 600 price reductions. I encourage sellers to price their home 3-5%

“This lack of urgency will most likely help keep prices in check. For buyers, real estate has returned to being a longterm investment and they’re being more selective on the properties being considered. For sellers that recognize this paradigm shift, it will potentially result in a relatively quick sale at a strong price,”

— Steve Kolenda, Managing Broker for Berkshire Hathaway Florida Realty’s office

lower than the target selling price. This will create buyer competition and may increase the chances of receiving the targeted asking price.”

A forward-looking factor to benefit the buyer is the gradual increase in inventory sitting at 528 active listings which is an 89.9% increase from November 2021 inventory.

Although the increase seems drastic, it’s still only around a third of what it was pre-pandemic and remains at historically low levels.

Unlike many other markets, the Bonita Springs and Estero real estate market seems to be unaffected by the changes in interest rates. This may be due to the percentage of cash sales at 71.1% this is a 10.9% increase from last year.

“Cash buyers are still dominating

the market which causes the interest rate to not affect the current prices. Many investors and second home buyers continue to purchase in our market, some have even bought storm damaged properties for the land to tear down the current property and build their dream home on it,” said Joe Pavich Sr., broker owner of Realty World J. Pavich Real Estate.

Local realtors and brokers agree on the increase in interest of the inland neighborhoods such as Stoneybrook and Bella Tera. Although the storm didn’t seem to decrease the interest of the Bonita Springs and Estero area nor scare locals away, it seemed to push some inland to avoid some of the stronger negative effects the storm had on properties near the coast.

“Inland is where it is at,” McGuire

said.

“Seasonal and annual rentals continue to hold strong this season, people still want to be here. The desirability of Southwest Florida has not changed,” said Adam Ruud, managing broker and owner of Domain Realty.

Both Bonita Springs and Estero continue to develop with new businesses coming to the towns every day. It is evident growth is inevitable and the towns are developing to keep up.

Both Bonita Springs and Estero are currently adding shops and dining to their areas. Coconut point has 6 new tenants and restaurants are being added to the surrounding areas. Downtown Bonita Springs is also adding multiple dining options and shopping in the near future.

For 2023, the Bonita Springs and Estero local realtors seem to agree that the current market will hold steady for the upcoming year with a gradual increase in inventory, and a relatively strong sellers market.

The Bonita Springs-Estero Realtors is a local trade organization of over 1,000 Realtors and more than 120 affiliated industry members. Visit bonitaesterorealtors.com.

Hope Chest resale store moves to new space in Cape Coral

Friends of Hope Hospice have enjoyed shopping at the Hope Chest resale store in North Fort Myers for nearly 20 years. Effective Dec. 20, 2022, the space relocated to The Shops at Surfside, just off Veterans Parkway near the Sandoval community in Cape Coral.

Featuring 24,000 square feet of secondhand trea-

For more business news,visit www.swfloridabusinesstoday.com

sures, the new store offers a wide range of gently used clothing, high-quality furniture and unique home goods as well as ample parking and modern amenities. Donations of clothing and household items are

accepted at the back of the store.

Shoppers can also visit the Hope Chest stores located in South Fort Myers or Bonita Springs. Proceeds from all three locations benefit Hope Hospice, a not-for-profit organization providing comforting, compassionate care to people of all ages in life’s closing chapter.

SWFL housing market remains resilient following Ian

September 28 is a day that will forever live in the history books as Hurricane Ian made landfall in Southwest Florida. The 500-year storm brought with it an astonishing level of devastation and property damage. The entire region came to a halt for close to two months as the recovery efforts started, including the housing market. For our team, the real estate agent hats were set aside, and we focused on being neighbors first.

In the days and weeks to follow, while continuing to meet the ongoing needs of friends and strangers, our local agents started assessing the impact on real estate. There was fear the property values in Southwest Florida would take a substantial hit following such a major storm. There was speculation the storm would deter buyers and that the market would be flooded with sellers looking to leave the area.

What we are seeing, however, is that the Southwest Florida market is resilient, and the storm has not affected the value of land or undamaged homes. As real estate transactions resume, listing prices are being adjusted to reflect damage, but the average unaffected home values have not changed nor have new construction rates.

The amount of standard inventory has also not seen a true increase to meet the continued demand.

BY APRILE OSBORNE Guest Columnist

Though it appears as if there are four months’ worth of inventory on the market, it can be estimated that a conservative 20% of that inventory has storm damage that would limit buyer potential. Houses that have damage will not qualify for most traditional mortgages, which will limit the buyer pool. Understanding that the market has been skewed with damaged homes coming into the mix, there is still limited inventory for the average buyer that was seen prior to Hurricane Ian. If you are in the market for elusive waterfront or beach property, now is the only time you can expect any form of a deal and only if you have the capital to pay cash and the time and tolerance to renovate. New beaches are not being created in America, and the lifestyle this region offers remains highly desirable.

Some of the local markets are even hotter now than they were prior to the storm. Inland properties still allow a buyer to be close to the desirable beaches but far enough away that they will not be affected by the impact of expected insurance rate

Chamber cuts ribbon at Blue Giraffe food truck

The Sanibel & Captiva Islands Chamber of Commerce celebrated the debut of the Blue Giraffe Restaurant food truck at its Periwinkle Place location on Sanibel Island with a ribbon cutting on Jan. 5. Co-owner Bill Letrendre says the food truck, with its limited hours and menu, will serve loyal customers while his two brickand-mortar restaurants undergo restoration.

“The Periwinkle Place location was totally destroyed and must be rebuilt from scratch,” he said. “The Beachview Estates location was not destroyed and will require much less repair to re-open… If all goes well, the goal is to be ready by Christmas 2023 for both locations.”

“The Letendres do the islands a great service by providing a convenient, central location where customers can enjoy a degree of normalcy with some of Blue Giraffe’s most well-loved dishes,” said John Lai, chamber president and CEO. “We commend them for their ability to pivot quickly to

keep their business vital in these trying times.”

The food truck opens Monday through Saturday for breakfast 8 a.m. to 11 p.m. and lunch until 3 p.m. It gives customers a choice of six breakfast items and 10 lunch dishes including wraps, tacos, burritos, beer, and wine. A number of tables with umbrellas provide seating for customers.

Blue Giraffe first opened at Periwinkle Place in October 2016 and at Beachview in December 2020. The food truck launched on Jan. 2, and has exceeded Letendre’s expectations since then. He thanks the chamber for helping inform islanders about his food truck and other hurricane recovery-related news.

“I am very pleased with the chamber’s informative online newsletters as well as speakers’ program,” said Letendre. “It has kept us fully informed on all topics affecting our rebuilding efforts. The chamber is definitely a great resource for all businesses on the island.”

increases.

There has also been a new group of buyers in the market. There are a group of people who have the capital and have been displaced from the islands following the storm are buying as opposed to renting as they wait for their homes to be rebuilt.

For those in the market with some time flexibility new construction is something to highly consider. There are communities popping up all over Southwest Florida and the price points are either more reasonable or at least comparable to other homes on the market. With new construction there is the added benefit of customizing homes to fit the buyer’s needs before purchasing, which can save the time and money of remodeling an older home.

Though the market is still hot, there is no denying that Hurricane Ian has made a major impact on our area and the effects are still not truly known. What is certain is that Southwest Florida remains a highly desirable community and our market reflects the resilience of those who call it home.

Aprile Osborne, Call it Closed International Realty co-founder, has been a licensed agent in Southwest Florida for almost 20 years. Naples-based Call it Closed International Realty currently operates in 14 states. Visit aprileosborne.callitclosed.com.

REGIONAL ECONOMIC INDICATORS

Airport Passenger Activity

Airport activity for the region was 11 percent lower in November 2022 compared to November 2021.

Tourist Tax Revenues

Tourist tax revenues for the coastal counties were down 10 percent in September 2022 compared to September 2021

Taxable Sales

Taxable sales in the five-county region were up 16 percent in October 2022 compared to October 2021

Unemployment Rate

The seasonally-adjusted unemployment rate in Southwest Florida fell 0.1 percentage points from October to November 2022 at 3.9 percent.

Single-family Building Permits

Single-family building permits for the coastal counties fell 32 percent from November 2021 to November 2022.

Single-family Home Sales

Single-family home sales for the coastal counties slipped 43 percent in November 2022 compared to November 2021

Single-family Home Prices

Single-family prices for all three coastal counties increased by 6 to 29 percent in November 2022 over November 2021

Active Listings

Active listings for the coastal counties were up 98 percent in November 2022 compared to November 2021

Consumer Sentiment Index*

The Florida Consumer Sentiment Index rose in November 2022, increasing 1.8 points from October 2022.

*Updored dara was nor available at time of publication. Text reflects data from the previous report.

Source: FGCU Regional Economic Research Institute

Make time through smart delegating

QUESTION: I own and operate a small business. There never seems to be enough hours in the day to accomplish all I want to do. Any suggestions?

ANSWER: In answer to your question there are usually two culprits, failure to delegate and/or poor time management. Let’s analyze each…

It is not unusual for the owner or manager of a small business to feel he or she must stay on top of every aspect of the operation. If this is you, determine what are your greatest strengths and try to delegate the rest to capable employees.

If you are a good communicator, spend your time developing relationships with current and new customers. Your mission is to keep and bring business in the front door.

If you are a detailed numbers person, by all means, handle the inventory, bookkeeping, payroll, taxes, insurance, etc. and delegate the sales and customer relations to someone else, because nothing really happens until a sale is made.

Bottom line, do what you do best and delegate or outsource the rest.

Good time management is critical if you are to accomplish all the goals you hope to reach. Your goals can be both short and longterm. Begin by organizing your work week. Make a list of all the things you need to accomplish in the coming week.

Break the list down in order of their importance. High priority items come first, followed by the rest. Whatever you decide to do today becomes a high priority tomorrow if you fail to do it today.

Strive to eliminate distractions like lengthy phone calls or responding to every email you receive. Unless they are important and contribute to the growth of your business, they are a waste of

BY GRAY POEHLER Guest Columnist

your time. When an employee comes to you with a problem, rather than offering the solution, ask the employee what they think is the correct answer. In this manner you are helping the employee solve their own question which empowers them to become decision makers.

With long-term goals, take a project management approach. The essential elements of project management include:

• Goals that are specific – State the goal clearly, including the necessary tasks.

• Goals that are measurable –For example, when designing a product, goals may represent specific features the product must include.

• Goals that are attainable –Goal must be realistic, within budget, timeline and available resources.

• Goals have a timeline – The project must have a timeline for completion. Deadlines help motivate team members and ensure their accountability when completing tasks.

In conclusion, time management is the process of planning and controlling how much time to spend on specific activities. Good time management enables you to complete more in a shorter period of time, lowers stress and leads to career success.

Gray Poehler is a volunteer with SCORE Naples. Business counseling on this and other business matters is available, without charge, from the Naples Chapter of SCORE. Call (239) 430-0081 or visit naples.score.org/mentors.

Construction progresses at Grandview high-rise on Estero

London Bay Development continues construction at Grandview at Bay Beach, creating the high-rise’s 58 luxury residences and exclusive on-site amenities. Located on the southern tip of Estero Island, the 11-story tower is nearly 70% sold.

As the final building in the gated high-rise community of Waterside at Bay Beach, Grandview offers a combination of new construction, competitive pricing, a walk-to-thebeach location and spacious luxury residences featuring panoramic views of the Gulf of Mexico, Estero Bay and vibrant sunsets. The tower remains on target for occupancy in summer 2023.

Designer-furnished models by Clive Daniel Home and Romanza Interior Design are slated for completion in early spring 2023.

Appealing to an array of homebuyers – from millennials and families to seasonal and full-time residents – Grandview was designed for a luxury low-maintenance lifestyle with private amenities, including a state-of-the-art fitness center, clubroom and expansive outdoor living with fire pits, an alfresco kitchen and a raised spa.

Three- and four-bedroom residences and penthouses offer up to three-and-a-half bathrooms and dens in 2,400 to over 2,900 square feet of air-conditioned living space empha-

sizing sweeping views and indooroutdoor living with breezy covered and open-air terraces. Grandview features six open-concept floor plans with spacious great rooms, elegant dining areas and gourmet kitchens flowing to generously sized screened lanai balconies.

Each residence has private elevator access and dedicated parking in the main garage. Six exclusive penthouses feature 11-foot ceilings and a private two-car garage. Smarthome-ready technology and energyefficient programmable digital thermostats provide added innovation and convenience.

Grandview also sets the bar high when it comes to safety and quality, from elevation and solid foundation to the highest-rated impact glass and insulation, buyers are ensured privacy and peace of mind.

Grandview’s resort-inspired lifestyle is elevated by private amenities in The EL. Designed for sunset views over Estero Bay, social experiences, health and wellness, The EL blends the building’s many indoor and outdoor destinations. Adjoining club and living rooms feature a linear fireplace, a catering kitchen with bar-style seating, and inviting spaces for cocktails, conversations and cards.

Luxury residences in Grandview start from the low $1 millions.

Construction continues on Grandview at Bay Beach, with occupancy anticipated summer 2023.

Verizon provides $10,000 grants to small businesses for Ian recovery

A family-owned coffee shop, a floral truck, and a bait and tackle business are among 25 small businesses across Southwest Florida awarded grants today from Verizon Business, totaling $250,000, providing them with critical relief as recovery efforts in the wake of Hurricane Ian continue.

“Long after the storm has passed, the devastation caused by Ian continues to unfold for small businesses, many of which lost everything and have had to start over,” said Aparna Khurjekar, chief revenue officer of Business Markets and SaaS at Verizon Business. “Our hope is that these grants can help these small businesses with resources they urgently need to recover.”

Hurricane Ian struck Florida as a catastrophic Category 4 storm on Sept. 28, killing over 100 people and causing damage to infrastructure, homes and other property estimated to exceed $50 billion. Thousands of Southwest Florida small businesses were affected by the storm. To aid in the recovery, Verizon partnered with Collaboratory, a local nonprofit community-problem solving organization in Southwest Florida, and Florida

TaxWatch, a trusted nonprofit organization that serves as the ‘eyes and ears’ of Florida taxpayers and promotes economic development across the state, to create the $10,000 grant program.

Collaboratory and Florida TaxWatch worked with community leaders to select the final 25 small businesses from hundreds of deserving applicants and nominees.

“We are thrilled to have received this grant as these funds will help us invest in sales channels to grow outside of Southwest Florida while our community focuses on rebuilding,” said Maddy Eagle, grant recipient and CEO of Flying Eagle Kombucha. “It will also assist us in strengthening our impact here at home, while we continue to support our local farms, community gardens, and their missions for a sustainable region.”

The full list of small business grant recipients includes: Captain Josh Greer; Captain Ozzie Lessinger; Chocolattés Roasting, LLC; Cracker Box Restaurant; D & D Matlacha Bait & Tackle; Exclusive Affair Party Rentals; F.I.S.H of Sanibel-Captiva, Inc.; Flying Eagle Kombucha; Gannon’s Antiques & Art; Gathering House

Space Florida announces space transportation call for projects

Space Florida announced its annual call for projects to further develop Florida’s spaceport system. Commercial space companies are invited to submit applications for Space Florida’s Space Transportation Infrastructure Matching Fund – requiring a private match of 50% or greater – to help meet current and future commercial and public sector space transportation needs. Last year’s call for projects was valued at $48.2 million. Applications are due March 15.

Frank DiBello, president and CEO, Space Florida, said, “Florida is the premier transportation hub for a global space economy providing rapid transport routes to other major world markets. Working in further collaboration with the growing space private sector will help consolidate and mature a Florida spaceport system of the future. The work we do at Space Florida extends beyond today, with a focus on the next generation of space enterprise. Our mis-

sion is to create a thriving space ecosystem, which not only supports today’s operational needs but also the establishment of pioneering outposts in high-value orbits, waypoints in space, and a lunar economy that fuels commercial and military operations.”

Previous Spaceport Improvement Projects include SpaceX’s processing and Starship manufacturing facility; Cecil Spaceport improvements to its operations control center and payload process to enable commercial launch operations; Blue Origin’s pad at Launch Complex 36; Boeing’s Starliner assembly; the Airbus OneWeb Satellite facility; and United Launch Alliance’s improvements to Launch Complex 41 to enhance capabilities for medium/heavy vehicles at Cape Canaveral Spaceport.

Space Florida will be accepting Space Transportation Infrastructure Matching Fund applications for Fiscal Years 2025 to 2029.

by Dwelling Place Project; Gator Lanes; FastSigns of Cape Coral; Gulf Coast Leisure LLC; Gulfshore Playhouse; Hoops on Mission; Hope Clubhouse of SWFL, Inc.; Increase the Peach, Inc.; Jesi Cason Photography; Just N Time Barber Shop; Koza Farms, Inc.; Island Vibez Grill; Ollie’s Pub – Records and Beer; Rupert’s Karate Academy; White Orchid at Oasis; and Wild at Heart Flower Truck

In addition to hurricane relief efforts, Verizon is providing assistance to small businesses through Verizon Small Business Digital Ready, a free comprehensive online curriculum focused on helping small businesses with digital transformation. The portal was created with and for small businesses, with a specific focus on helping diverse and under-resourced business owners, and offers personalized learning through more than 30 courses, mentorship, peer networking, one-on-one expert coaching and incentives. Spanish-language content, coaching and networking events and grant opportunities aimed at Hispanic-owned small businesses are also now available.

RENTAL PAGE 1

“We’re really, really happy to be introducing something to the marketplace that doesn’t currently exist. Part of the way of driving costs down is marketplace competition. And an added product helps with that. So being able to provide a house at an apartment price, even though it’s a slightly modified lifestyle, is a great thing in today’s economy. And it’s one of the ways that we can begin to help solve the workforce housing issues we face.”

Allan explained the purpose of ReVital Development. “In our business, we focus on affordable housing. It’s really the lack of affordability that creates the demand for housing developers like us. It’s very difficult to keep up and provide that additional affordable inventory. We certainly struggle with it. We rely on not only private debt in our contributions, but also local, state and federal subsidies. Because you can’t do a project without it— and this is why we will often do smaller projects, or ‘cure the need’ with one project, for example. We’re seeing just a lot of demand and limited ability to deliver due to several hurdles.”

Leadbetter noted, “A lot of institutional investors didn’t like this market initially. They felt it was a secondary or tertiary market; it was more risk than they were willing to take on. And so we had to find an equity partner that was here and understood the story. And what was interesting is that COVID helped that national institutional investor understand the story. It was very clear when COVID hit that this market is someplace people really want to be. So you know, first and foremost, that demand is there.

“For us specifically, we looked at what that traditional apartment demand was, how much of the supply was coming online and how much of it was being fed by the demand. Then we saw that in 2020, I think we absorbed about 4,200 units in this area. So for us to get comfortable around a new product and a new market, we just needed to absorb a very small fraction of the overall apartment demand.”

Bonora explained how Catalyst started.

“We built our first apartment project on McGregor Boulevard in 2013’14. We were coming out of the recession. Everybody thought, if you weren’t living down here, if you lived up North, you thought this region was still in a depression. There’s no recovery, developers thought, and Southwest Florida just fell off the radar as an option.”

He continued, “When you only look at the data points, if you’re not from here and you’re not spending time here, it’s very easy to overlook the market and opportunities. But when you’re here and you see it and see how people live and where they live and then the living and lifestyle patterns, then you can see where the opportunity is going to be. I remember having to tell that story over and over.

“Today, when a new project or capital partner is coming into the market, I don’t have to educate them on why they want to be here. And now that data is also coming online where they can read it, and they don’t have to be here to experience it firsthand.”

What are the economics of renting vs. owning your home in Southwest Florida?

Leadbetter noted, “When looking at the home-for-sale pricing, it really came down to, what is that ‘whole chunk price’ somebody is able to pay per month in the marketplace for your rental product? We analyzed this and created rental units that ‘matched’ the for-sale pricing.

“So right off the bat, we could see from the ‘whole chunk price’ that the rental market has a place here with a low barrier to entry. And it can compete here because it’s very difficult for folks to be able to afford purchasing a home, due to a number of factors. Number one is because of rising homeowner insurance costs. That feels like one of the biggest threats to everybody because it will drive home sale prices down. Then add in your general cost of maintenance and the cost of homeownership has gone up. All of those things contribute to everybody’s ability, or inability, to afford purchasing a home here. This situation, in turn, creates a great opportunity for the rental home segment.”

If you accept mediocre performance, you condone it

In order to maintain a successful and growing business, you need talented and motivated people. That means finding, hiring, training, rewarding, and motivating your team. Wow! That sounds like a lot of work. It is. But it is one of the most important management tasks in any business. But it doesn’t end there. Once the team is established, you need to monitor their performance. Who is doing well and who is struggling? And what do you do about it? Today’s column will focus on effectively and fairly dealing with the latter – the underperformers.

Despite everyone’s best efforts, sometimes things just don’t work out. When this happens, it cannot be ignored. If you tolerate poor performance or disruptive employees, you send the message to everyone else that you condone it. Keep that in mind. But this doesn’t mean that terminating someone’s employment is your first option. In fact, it should be your last resort.

Back in the ’80s and ’90s, there was a dominant business culture that resulted in pride for having the “toughness” to fire people. Terms like “slash and burn” and “scorched earth” were actually lauded. Leaders earned names like “Neutron Jack” for their ability to cut the work force aggressively. I’ll never understand why that was considered a compliment.

If you think about it, terminating an employee’s employment is often the result of a management failure. While an underperforming employee may sometimes be at fault, were other management-related reasons considered? Was it a good match of skills, experience and culture in the first place? Was there adequate on-boarding and training for the employee? Did the employee get regular, constructive feedback

and guidance in order to correct any performance problems? Was the underperformance tolerated for too long without any action, so the employee assumed everything was fine? A lot of questions, all of which need answers!

Everyone wants a high performing team. It starts with the hiring process. The development of a detailed job description, identification of the key attributes required to do the job, the expected outcomes, a comprehensive assessment of the applicant’s skills and cultural fit, as well as a complete interview process and background/reference check, is the right start. Done well, it’s a big up-front investment, but it can help avoid making a hire that eventually goes wrong, which can be a much more expensive mistake.

tions, and why. Be specific. Believe it or not, sometimes employees don’t know exactly what is expected, so they do what they think is best; it isn’t but they don’t know it. A frank, non-confrontational conversation should take place, with documentation that both parties review. Create a picture of what success looks like for the employee. Be specific. Be positive. Determine if there has been adequate support and training. If it hasn’t it, provide it. Then set up a reasonable timeline with specific goals for “recovery.” Schedule regular updates to assess progress.

BY GREG STEINER Guest Columnist

So, how do we identify the lower performers? You may be surprised, but everyone knows who they are. One technique you can use is to rank the team, top to bottom. No ties allowed. More importantly, get multiple inputs on the ranking, but keep it confidential. You’ll be surprised at the different perspectives, but most importantly, you should be able to determine any significant biases so you get as an accurate assessment as possible.

Take immediate, impactful action. Your goal should be to save the situation, if possible, not end it. First, the low-performing employee needs to clearly understand that performance is not up to expecta-

Using these steps, hopefully, the situation will be resolved positively for everyone. If not, unfortunately, you must go to the last resort and terminate employment. Do this in a productive, professional manner. Allow the employee to maintain his or her dignity.

But what about morale? Won’t terminating an employee destroy the team’s spirit? Nonsense. The rest of the teams sees it, and wonders why someone hasn’t done something about it. If they see genuine efforts to improve the situation, but this fails and termination results, they will have renewed confidence in the fairness of the process and confidence in management.

Dealing with poor performance is a difficult, but mandatory task. It has far reaching consequences, so deal with it quickly, fairly, and comprehensively. What about the high performers? That’s important, too, but that’s another column.

Greg Steiner is the founder of Sea Breeze Associates and co-founder of Atlantic Partners International. Contact (203) 505-2605 or glsteiner57@gmail.com.

PNC foundation awards $25,000 to Goodwill of Southwest Florida

PNC Foundation has pledged $25,000 to Goodwill Industries of Southwest Florida in support of its Opportunity Accelerator Program.

OA is a new mentorship program offered through Goodwill that individualizes the delivery of digital skills, job placement and career training services to each job seeker and career advancer in low-to-moderate income (LMI) communities. In Southwest Florida, 35% of the population is LMI, while another 12% live in poverty.

This collaborative approach between Goodwill OA and the LMI community will help financially challenged individuals fulfill their true potential and create equity across Goodwill programs.

“As a national main street bank, PNC is committed to driving real change in areas in which we can make a meaningful impact and we’re pleased to support Goodwill Industries of Southwest Florida with this $25,000 grant,” said Chad Loar, PNC regional president for West & Central Florida. “With the OA mentorship program, we’re confident Goodwill can further help their disadvantaged clients flourish with better resources,

For more business news,visit www.swfloridabusinesstoday.com

training and new skills to attain better jobs and career opportunities.”

Goodwill conducted a study to take a closer look at the labor market and discovered while demand for labor remains strong, the labor pool is lacking in skills, with 66% of those surveyed needing additional skills or training to get the job they wanted, and 57% reported missing out on jobs in the past two years because they lacked the needed skills.

To fill the skills gap, Goodwill has developed the Opportunity Accelerator to bring much-needed training to those who do not have access to higher-education and paid training opportunities. Through Goodwill Industries of Southwest Florida’s eight Community Resource Centers, job seekers and career advancers can get a hand-up into better paying opportunities and can increase their independence enabling them to better provide for themselves and their families.

Goodwill Community Resource Center coordina-

tors move career advancers through three phases: Assess and Plan, Equip and Connect, and Launch and Evaluate. The resources provided in the OA framework have been tested in a number of environments (urban, suburban and rural) and with a diverse population of job seekers, from adults young and old, to persons with disabilities and veterans.

“Goodwill is thankful for PNC Foundation’s support of the Opportunity Accelerator,” said Angela Hemstreet, Goodwill SWFL director of Employment Services. “We so appreciate that PNC sees the value of the services as well as the need for robust case management software. Mission Services is delighted to move forward with the OA with generous support from community partners such as this.”

Goodwill helps people facing challenges find employment, including people with disabilities, veterans and military families, youth and young adults, older workers, people reintegrating into society and others working to advance their careers. Goodwill transforms generations by empowering people through education, career training and work.

Three island business reopenings cause for celebration

The Sanibel & Captiva Islands Chamber of Commerce recently celebrated three post-hurricane business re-openings with ribbon-cutting celebrations. On Jan. 10, Sea Oats Day Spa held its ribbon cutting on Periwinkle Way and Royal Shell on Periwinkle Way. Captiva Cruises celebrated on Jan. 12 at McCarthy’s Marina.

“We could all use a massage and a relaxing day on the water right now,” said John Lai, chamber president and CEO. “We welcome these opportunities back to the island business landscape. Congratulations and thanks to all involved.”

Owner Logan Tennant had newly opened Sea Oats Day Spa on Aug. 25 with seven other staffers, about a month before Hurricane Ian slammed the islands. Fortunately, the spa’s elevated venue left it mostly high and dry. By Nov. 22, Tennant, who has worked as a massage therapist and nail technician/esthetician on Sanibel for nearly 14 years, was offering massage and nail services to island clientele.

“I want Sea Oats to be a big part of the community,” Tennant said. “I thought hopefully it would bring some normalcy back to the people who were here, that it would help heal the island.”

She credits the positivity of the community and help from the chamber for giving her the motivation and confidence to reopen her first business endeavor, where she keeps treatments eco-friendly, such as her soak-less pedicures that save 7,000 gallons of water a month and

are more sanitary than conventional pedicures.

“Aaron at the chamber was so helpful, answering all my questions and getting back to me so quickly, helping me to set up the ribbon-cutting, explaining how to sign up to be a member of the chamber. He was very patient with all the questions I had, I can only imagine how swamped he’s been,” Tennant said. She plans to organize shopping, lunch and spa days to support other island businesses.

Royal Shell, which celebrated its

Top: Captiva Cruises holds a reopening ceremony at McCarthy’s Marina on Jan. 12.

Left: Royal Shell celebrates its reopening on Jan. 10.

Below: Sea Oats Day Spa on Jan. 10 holds a ribbon-cutting at its Periwinkle Way location.

month with limited tours to serve local residents, passholders and paid guests at ‘Tween Waters Island Resort. With the causeway fully open on Jan. 2, operations have expanded using two of the boats Captiva Cruises had moved inland before the storm. The 49-passenger power catamarans Santiva and Playtime will be doing dolphin sightseeing cruises and luncheon excursions to Cabbage Key.

The team also moved the Lady Chadwick offsite for the storm, to a Fort Myers Beach boatyard for its annual inspection and maintenance. Storm surge delivered some damage to the boat, but it is expected to be repaired and back in service in coming months. The tour company also suffered significant damage to its docks and property.

Captiva Island office reopening on Dec. 13, was waiting for power to be restored to the Sanibel office for its ribbon cutting.

“We wish Logan all the luck in the world and thank her for the positivity she brings to recovery efforts; Her enthusiasm is infectious,” Lai said. “Royal Shell has been helping out islanders on both Sanibel and Captiva since the causeway opened, and we’re happy to make their Sanibel reopening official.”

Captiva Cruises opened late last

“Our awesome crew has been helping with all the recovery efforts,” said co-owner Brad Junghans, who offered attendees at the ribbon cutting a free cruise following it. “Before we opened for business, we brought disaster crews from Cape Coral to South Seas Island. While we are happy to back up and running, there is still lots of work to be done.”

“I think everyone appreciates seeing the return of what the islands are known for – opportunities to get out on the water,” Lai said. “I applaud Captiva Cruises for steering the islands’ comeback in a positive direction.”

“The Chamber has done an excellent job of communicating to the members of the various programs and resources available to aid the recovery process,” Junghans said.

FAMILY PAGE 1

This year’s conference, titled “Driving Success Through Succession,” is geared toward owners of multigenerational businesses and offers insight and best practices from dynamic leaders who are running family businesses. Alan Hassenfeld of the famous Hasbro Toy Company Family (Mr. Potato Head, Monopoly and other iconic games,) will deliver the keynote address.

In addition to Hassenfeld, speakers include Blake Gable, CEO of the Barron Collier Companies; Michael Wynn, president of Sunshine Ace Hardware and John Resnick, principal of The Resnick Group.

“Family businesses are the economic engine of our economy. John and I, along with Michael Wynn, are proud to have partnered with family business owners like David and Jerri Hoffmann, Blake Gable and Shelly Stayer to support and increase the odds of survival

of family businesses in Southwest Florida,” said Billie Resnick.

Bill Daubmann, founder of MY Shower Door and D3 Glass in Southwest Florida, is leading his company to the second-generation of ownership by his two sons, Keith and Doug. He attended the inaugural event last year with his son, Doug, and shared, “This is really a great event and my son and I are learning a lot of good and truly helpful information here today.” He continued, “That’s because the speakers have all been, and are still, involved in their family-owned business ventures. So the speakers know exactly what challenges we are facing as we build our own family-owned business. It’s fantastic!”

The Family Business Conference runs from 1 to 6 p.m. on March 3 at FGCU, the Cohen Student Union on FGCU Boulevard North in Fort Myers. For more about The Resnick Wynn Family Business Conference, visit FGCU.edu/FamilyBusinessConference, call (239) 745-4700 or email ResnickWynnFBC@FGCU.edu.

2022 Resnick-Wynn Family Business Conference speakers (l-r): John Resnick, Shelly Stayer, Steve Forbes, Michael Wynn, Jerrilyn Hoffman and David Hoffman

Cheers to 20

Twentyyears goes by quickly when you love what you do, the people working alongside you and the community you serve. We’re celebrating two decades of delivering smart banking and lending solutions to our customers, taking care of our SanCap Bank family and supporting the community who has been so good to us.

SanCap Bank started as a small island bank chartered on Sanibel and has grown to eight locations throughout Lee County with over 100 employees. Although we’re a little bigger these days, we’re still that small island bank at heart. We pledge to remain locally owned and operated with the unwavering commitment to our customers, team members and community we’ve had since the day we opened.

You can bank on it.