January 2023 Southwest Florida Business Today

Commercial Real Estate

SWFBT’s annual edition is a comprehensive overview of the SWFL market’s plans, projects and partnerships, as SWFL moves forward through Hurricane Ian recovery.

Economist talks Lee County’s post-Ian potential

Save the Date

Coming Wednesday, April 19 through Friday, April 21, 2023, the 35th annual international Edison Awards, honoring innovation and innovators who create positive impact in the world, will be held in Fort Myers. For more information, visit www.edisonawards.com .

SBA extends Hurricane Ian disaster loan deadline to Jan. 12

The U.S. Small Business Administration announced it will extend its deadline to Jan. 12 to give Florida businesses and residents more time to apply for federal disaster loans for physical damages that occurred from Sept. 23 through Nov. 4 due to Hurricane Ian.

The disaster declaration includes

Special to SWFBT

Submitted by Karen P. Moore, Publisher

At a recent meeting of Lee County business owners, Jerry Parrish, chief economist and director of state and local policy analysis with the Florida Institute of Government at Florida State University, shared his thoughts.

ment numbers we’ve had,” he said.

COMMERCIAL REAL ESTATE MARKET

“So let’s think about what’s going on with the economy right now, postHurricane Ian. A lot of people are going to say, how quickly can we recover down here in Southwest Florida? One of the indicators of how well you’re

WORKFORCE HOUSING

going to do after an event like this is how well you did before the event. And so I’m going to talk about that, but you know, we got this weird economy going on right now in the state of Florida.

“In Florida, we have had until certainly right now, anybody that wanted a job could find a job. We had over 500,000 open jobs. Raised wages float a lot of boats.”

The other side, Parrish noted, is when you poll people about how they feel about the economy. “We’ve got some of the lowest consumer senti-

“According to the University of Florida Bureau of Economic and Business Research, pre-COVID in February 2020, consumer confidence in Florida was at 102.3 (with total confidence benchmarked at 100.0).”

A look at commercial real estate trends & topics in Southwest

Over the next couple of months, as uncertainty that came with COVID-19 settled in, it dropped to 76.3.He added, “And that was at the time of the most uncertainty we’ve had. You know, nobody knew when the economy was going to open up. People were running

Housing Authority moves ahead on Dunbar initiative

Community leaders and more than 200 housing officials from across the nation joined The Housing Authority of the City of Fort Myers for a groundbreaking ceremony on Nov. 30 that marked a major milestone in HACFM’s Greater Dunbar Initiative.

HACFM is commencing the initial phase of The Greater Dunbar Initiative, a comprehensive transformation plan for the greater Dunbar community.

The first step in this process is to develop a 90-unit housing develop-

the Florida counties of Charlotte, Collier, Lee, Brevard, DeSoto, Flagler, Glades, Hardee, Hendry, Highlands, Hillsborough, Lake, Manatee, Monroe, Okeechobee, Orange, Osceola, Palm Beach, Pasco, Pinellas, Polk, Putnam, Saint Johns, Sarasota, Seminole and Volusia, which are eligible for both Physical and Economic Injury Disaster Loans from the SBA.

Customer Service Representatives LOAN See page 15

ment on Cleveland Avenue to house residents while HACFM begins the large-scale revitalization of the 199unit Southward Village public housing community in Fort Myers.

The Greater Dunbar Initiative aims to transform Southward Village into a mixed-income community, which improves existing affordable housing units for residents while expanding choices, creating market-rate amenities, and adding new mixed-income housing to create a resilient and healthy neighborhood moving forward.

“Breaking ground on the Cleveland Avenue housing development is a monumental occasion as we mark the start of transformational change for the greater Dunbar community,” said Marcia Davis, executive director of the HACFM.

“We are thrilled to launch this community-wide initiative, and are thankful for the many partners and supporters who join in our vision and who are making this positive change possible

IMPORTANT BUSINESS NOTES

Program

A rendering from The Housing Authority of the City of Fort Myers gives a glimpse of what the Greater Dunbar initiative will look like. The 90-unit development will house tenants on Cleveland Avenue.

Looking to grow a business? Considering a real estate purchase? With Sanibel Captiva Community Bank, you get more than a lender and bank – you get a partner who can help you reach your business goals.

For 20 years, we have focused on making the right loan for you and your business. And since we’re locally owned and operated, all our loan decisions are made right here. As one of Southwest Florida’s only locally grown community banks, we’re uniquely positioned to help our fellow businesses thrive and prosper.

Call Rudi, Kyle or Lee to experience the SanCap Bank difference today.

Rudi Hamer Vice President, Commercial Loan Officer and Relationship Manager 239-274-6260 rhamer@sancapbank.com NMLS #141625

Kyle DeCicco

President and CEO 239-274-6225 kdecicco@sancapbank.com NMLS #1096738

Lee Golden Senior Vice President, Director of Business Development and Commercial Loan Officer 239-274-6234 lgolden@sancapbank.com NMLS #940597

Arthrex enters $16M settlement after kickback allegations

Civil lawsuits at times can be part of doing business. But Arthrex found itself as the target of the U.S. Government over allegations the Naples firm paid kickbacks to doctors recommending its products.

The firm agreed last year to a $16-million settlement with the Justice Department’s Civil Division. Arthrex was accused of paying a Colorado surgeon, in violation of a federal prohibition on kickbacks and the False Claims Act.

By settling out of court, Arthrex admitted no wrongdoing, but also agreed not to fight allegations as brought by the U.S. government. The company did not respond to requests for further comment.

“Paying bribes to physicians to distort their medical decision-making corrupts the health care system,” said Acting U.S. Attorney Nathaniel R. Mendell, a prosecutor in the District of Massachusetts. “This settlement demonstrates our dedication to ensuring that taxpayers and patients get a health care system that is on the level. Kickbacks have no place anywhere in our health care system, and we will continue to identify and punish this illegal conduct.”

The substantial settlement earned some national attention in business press at the time, but little notice in the Southwest Florida market. The Collier County Economic Development Office lists Arthrex as one of the largest private companies

in operation. The company opened its Ave Maria facility after County Commissioners approved incentive grants worth as much as $164,614.

The company designs and holds patents on countless medical devices and technologies. The properties at the center of the Justice Department dispute were the SutureBridge and SpeedBridge products, which can be used for Achilles tendon reattachment. Prosecutors in the settlement allege the company negotiated royalty payments to Dr. Peter Millett in exchange for recommending the purchase of the devices over an 11-year period.

“In 2006, Arthrex had denied Millett’s request for such royalties,” the settlement lays out. “The United States contends that when Millett threatened to realign his loyalty to an Arthrex competitor in 2010, Arthrex not only acquiesced to Millett’s royalty request but also agreed to pay him royalties for past and future sales of SutureBridge and SpeedBridge kits at a higher percentage rate than was the company’s ordinary royalty practice.”

The federal government investigated complaints Arthrex wasn’t acting in good faith in the marketplace.

Prosecutors focused on health care fraud looked at nationwide business by the firm based on claims brought in a lawsuit under whistleblower provisions by James Shea, an Arthrex sales agent, who was set to receive $2.5 million of the settlement money. Subpoenas were first served on Arthrex in 2020.

In addition to payments, Arthrex entered into a five-year corporate integrity agreement with the Department of Health and Human Services’ Inspector General office to ensure compliance with federal law.

“The Department of Justice will continue to pursue medical device manufacturers that pay kickbacks to boost their profits,” said Principal Deputy Attorney General Brian M. Boynton. “Such arrangements can improperly influence physicians’ decision-making and result in the misuse of critical federal health care program funds.”

Notably, Arthrex after the settlement sued insurers National Union and Federal for refusing to reimburse the costs of that case. The insurer countersued. That dispute was moved to Florida federal courts in November 2022 and remains unresolved.

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Fritz Roka, Ph.D. Expert in Agricultural Economics Florida Gulf Coast University

The Honorable Matthew H. Caldwell Lee County Property Appraiser

Sean Snaith, Ph.D. Director

“This settlement demonstrates our dedication to ensuring that taxpayers and patients get a health care system that is on the level. Kickbacks have no place anywhere in our health care system, and we will continue to identify and punish this illegal conduct.”

— Nathaniel R. Mendell, Acting U.S. Attorney

Vantage completes work on Chicken Salad

Chick

Vantage Construction Services, a Florida commercial general contractor, has completed interior tenant improvements for two of three Chicken Salad Chick restaurant franchises.

In September, Vantage closed out the Fort Myers location in Village Walk, on Dani Drive.

Currently the firm wrapped up an Estero location on Estero Town Commons Place. The Port Charlotte project is underway and expected to be completed early January 2022, on Tamiami Trail.

Vantage is a client-focused general contracting company serving Southwest Florida providing consulting, pre-construction, general contracting, construction management and design-build services for commercial construction in Southwest Florida.

Hasbro’s Alan Hassenfeld to headline conference at FGCU

Alan Hassenfeld of the famous Hasbro Toy Company Family (Mr. Potato Head, Monopoly and other iconic games) will deliver the keynote address during the Resnick Wynn Family Business Conference in partnership with Florida Gulf Coast University on March 3 at the Florida Gulf Coast University campus.

The 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. 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.

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 familyowned firms survive to the second generation and just 13% make it to the third generation.

“No family business is the same,” said Hassenfeld, who previously served as chairman and CEO of Hasbro Toy Company. “This family conference gives us the

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chance to share with one another our trials and tribulations, as well as our successes and mistakes.”

Hasbro Toy Company will celebrate its 100th anniversary in 2023 and currently has revenues of roughly $6.5 billion annually.

Southwest Florida family-owned businesses have been particularly impacted through the devastating impact of Hurricane Ian, rising inflation, labor shortages, and rapidly evolving changes in consumer behavior. The keynote speaker in 2022, Steve Forbes, noted familyowned businesses still have an advantage because they can “combine commercial success with a broader consciousness of community stewardship and continuity – a critical asset during this troubled era.”

Gable recently commented, “As the CEO and a fourth-generation family member of The Barron Collier Companies, I am aware of the challenges family businesses can go through to survive from generation to generation. I am thrilled to be part of this program that sheds light on how family businesses can thrive in today’s competitive corporate environment.”

The conference series created by Michael Wynn and John and Billie Resnick will be similar to conferences the Resnicks conducted with

The Wharton School at The University of Pennsylvania, which included Forbes and other family business icons.

“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.

“Sunshine Ace, and other family-owned businesses face a fierce competitive environment often competing with large corporations with very deep pockets. It’s more important than ever for family businesses to work together to share strategies and best practices to excel during challenging times like we’re facing now.” Wynn said. “Family businesses represent the lifeblood of our community.”

The Family Business Conference runs from 1 p.m. to 6 p.m. on Friday, March 3 at the Cohen Student Union, on FGCU Boulevard North in Fort Myers. Tickets are $250 each; discounts applied for multiple tickets purchased or table purchase. Net proceeds will support scholarships for business majors attending FGCU.

FGCU SOARING EAGLE

From campus to retirement parks

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Robert Sorenson took on a new and important role with FGCU after receiving his bachelor’s degree in human performance in 2012. Since then, he has supported the exercise science and the experiential learning programs by mentoring students in their internships. As the director of wellness at Moorings Park Retirement Community in Naples, he has developed the facility into a soughtafter internship site. He has also become an adjunct professor within the exercise science program.

Those are just a few of the reasons why he was nominated for the Soaring Eagles Award by Barbara Tymczyszyn, the program’s academic coordinator of clinical education.

“It’s very humbling to be recognized for personal growth and identified specifically by the university,” Sorenson said. “In my professional career, I’ve found a real niche environment where I’ve been able to thrive and I attribute much of that to my schooling at Florida Gulf Coast University and the human performance program, now exercise science; that really instilled professional behaviors in me.”

Post-FGCU, he went on to earn a master’s in gerontology from Nova Southeastern in Fort Lauderdale, and a doctorate of education in health professions from A.T. Still University in Kirksville, Missouri.

Sorenson credits his FGCU education with creating the foundation for his professional achievements.

Sorenson

Bank of the Islands supports chamber SanCapStrong shirt campaign HURRICANE IAN RECOVERY

The wounded post-hurricane Sanibel Lighthouse potently symbolizes the #SanCapStrong movement, and now it forms the centerpiece of a new performance shirt created by the Sanibel & Captiva Islands Chamber of Commerce, with strong support from Bank of the Islands, to help navigate the islands’ road to recovery following Hurricane Ian’s fury on Sept. 28.

The bank, under the direction of CEO Geoff Roepstorff and president Robbie Roepstorff, contributed greatly to the campaign by covering the cost of printing the shirts and then placing the fi rst order for 15 shirts. Instead of the $50 per longsleeved shirt price, the bank pitched in $1,000 for each shirt it ordered for staff members, for a total of an added $15,000.

“Robbie and I have called Sanibel home for most of our lives,” said Geoff Roepstorff. “Our dreams came true decades ago when we opened the Sanibel and Captiva offi ces of Bank of the Islands. Since then, it

has been very clear to us how crucial the chamber is to our community. Like the Sanibel Lighthouse, the chamber is a source of light for our islands. And now, with so many chamber members stricken by Ian, the chamber revenues have seen a serious decline. For those who can, it is time to support our chamber by giving what you can as soon as you can. We hope others will join us in

showing their support. Together, we can help the chamber sustain and lead us once again by shining a light on our beautiful islands.”

“We can’t thank the Roepstorffs and their team enough for this touching and meaningful show of confidence and support for the work the chamber has been doing to help get the islands back on their feet these past seven weeks and into the fu-

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ture,” said John Lai, Chamber president and CEO. “Their generosity proves that island businesses need to work together for the betterment of the islands during this diffi cult time.”

The limited-edition SanCap Strong shirts will go on sale to the general public through the chamber’s e-commerce site launching this month. Long-sleeved white shirts will sell for $50, short-sleeved for $30. All profi ts will support the recovery efforts of island businesses and organizations. Watch for details to come.

“Thanks to Hillgate Marketing Services for donating its creative talent and coordinating this effort to bolster island businesses,” Lai said. “The iconic lighthouse truly anchors the shirt’s graphics, forming the A’s for San and Cap, and standing fi rm and strong as our island community follows suit.”

Bank of the Islands donated $15,000 to the Sanibel & Captiva Chamber of Commerce SanCapStrong shirt campaign.

Congrats, you made that big investment. You bought a building or completed a buildout on a long-term lease. Now don’t let that big investment go to waste by not maintaining it properly. Lack of maintenance is the number one reason a property begins to look old and tired. No matter if you are operating a restaurant, an office, industrial or a retail space, proper maintenance can keep your investment looking its best for years to come. During difficult economic times, many companies scale back their cleaning and maintenance, with a hope of saving money with tightening budgets.

The problem is those short-term savings can actually end up costing the business more in the long run. Failure to clean and maintain a facility will cause the carpets, floors and other furnishings to wear, leading to expensive early replacement. There is a way to balance proper cleaning and maintenance with a limited budget, thus saving your investment from wear and unnecessary early replacement. Most professional cleaning and maintenance companies will custom tailor specifications for your needs and your

BY TIM CONN Guest Columnist

budget. There are areas that are less important to maintain than others, and customizing those specs to your need is the key to keeping on budget.

Your first option is to discuss such services with your current cleaning company. You could also reach out to get competitive proposals from other companies in the area. If your current service is unwilling to adapt to your needs, you should definitely look at alternatives. As the economic climate forces tightening budgets, don’t let your property take the hit. There is an option to protect your investment while keeping your costs in line, and it starts with a discussion about what is most important to maintain in your facility.

Tim Conn is the founder of Image One Facility Solutions. Contact him at tconn@imageoneusa.com.

COMMERCIAL REAL ESTATE

Cushman & Wakefield brokers $225K sale of office

Gary Tasman, CEO and principal broker, and Gretchen Smith, senior director, of Cushman and Wakefield Commercial Property Southwest Florida recently facilitated the sale of a 1,440-square-foot office condo in Fort Myers for $225,000.

The office condo located on Kenwood Lane is built out for general

office use and is located in the Kenwood Park Business Park.

Mr. Tasman and Ms. Smith represented Merit Holdings Corporation in the sale of their property. The condo was listed for sale either as owner/ user or as an investment property. The property was sold to The Bucca Group Real Estate Holdings.

HURRICANE IAN RECOVERY

FEMA warns to avoid and report disaster fraud

A survivor recently reported getting a text that their “federal government check in the amount of $2800 has been disbursed.” The text instructed the survivor to visit a link and provide personal information for FEMA to verify. This is a scam. Scam attempts can be made over the phone, by mail or email, text or in person. FEMA is not providing any financial assistance in the amount of $2,800. If you have applied for disaster assistance, FEMA will notify you of its decision. The agency may also contact you if it needs additional information to process your application. This may come in the form of a letter. In some instances, you may receive a phone call. Review your FEMA letters carefully.

After a disaster, con artists and criminals may try to obtain money or steal personal information through fraud or identity theft.

Use caution when clicking links in emails or texts. Fake websites can look authentic.

Prior to sharing your personal information, always verify who the person is and what agency they represent.

If you are offered assistance that seems too good to be true, it probably is. If unsure, call the FEMA helpline at (800) 621-3362.

Go online to DisasterAssistance. gov to create an online account with FEMA. Be extremely careful when clicking any links.

Here is a list of other possible scams that may target Hurricane Ian survivors:

Identity Theft

• Disaster survivors should be aware con artists and criminals may try to apply for FEMA assistance using names, addresses and Social Security numbers they have stolen from survivors.

• If a FEMA inspector comes to your home and you have not filed a FEMA application, your information may have been used without your knowledge. Tell the inspector you did not apply for FEMA assistance.

• If you did not apply for assistance but receive a letter from FEMA, please call our Helpline at (800) 621-3362 any day between 7 a.m. to 11 p.m. ET.

If you believe you are the victim of a contracting scam, price gouging or other fraudulent activity, contact local law enforcement and report it to the Office of the Attorney General by calling (866) 9-NO-SCAM (966-7226) or visit myfloridalegal.com. To file a fraud complaint, go online to Scam

Report (myfloridalegal.com). or contact the Federal Trade Commission at www.ftc.gov/complaint.

Telephone calls

• FEMA will only reach out if you have already applied for assistance. If you are contacted by someone asking you to apply for FEMA assistance or if you question someone’s intent, contact your local law enforcement agency.

Housing inspectors claiming to represent FEMA

• Be cautious if somebody asks for your nine-digit application number. A FEMA inspector will not ask for this. They already have it in their records and may provide it to you to confirm they are interacting with the correct person.

• FEMA inspectors never ask for or confirm banking information.

• Ask the inspector to show you their identification badge. Federal and contracted employees always wear an official government badge to identify themselves.

Someone comes to your home without a FEMA photo ID

• Do not let someone into your home who claims to be a FEMA employee but does not have a FEMA photo ID. All FEMA representatives carry a laminated photo ID.

Fake offers of local or federal aid

• Don’t trust someone who asks for money. Federal and local disaster workers do not solicit or accept money. FEMA and staff from the Small Business Administration never charge for inspections or help in filling out a disaster assistance application.

• Don’t believe anyone who promises a disaster grant and asks for large cash deposits or advance payments in full.

Charitable giving

• A list of reputable charities that are approved by the Better Business Bureau’s “Wise Giving Alliance” can be found at www.give.org.

Rental listings

• The Federal Trade Commission (FTC) has information on how rental scams work. For instance, scammers know finding the right apartment or vacation rental can be hard work, and a seemingly good deal is hard to pass up when you need a place to stay. Learn more at www.consumer.ftc.gov/ articles/0079-rental-listing-scams.

Sanibel mayor gives island recovery update HURRICANE IAN RECOVERY

Special to SWFBT

Submitted by Karen P. Moore, Publisher

City of Sanibel Mayor Holly Smith recently spoke to Lee County business owners about the City of Sanibel’s Hurricane Ian recovery process.

“It’s Day 51. That’s how I ‘keep my calendar’ these days—Day 51 since Hurricane Ian struck Sanibel Island and Southwest Florida with devastating force,’ she said.

“I want to thank each one of you because at this time, you are helping Lee County rebound in this unprecedented event. And it’s extremely significant for our business community and our residents everywhere throughout the county. And we appreciate that. We all represent many different aspects of the success we have in front of us. And we’re all connected more now than we ever have been before. And as the Mayor of the City of Sanibel, I have been humbled. Our city has been humbled with the outpouring and support from all of the agencies and the calls and letters, as I’m sure any area that’s been impacted by this has felt. As a businesswoman, like you, I just want to help in any way that I can. I want to help to make sure that Lee County rebounds as quickly as we possibly can.”

She continued, “We know we have significant challenges and I’m confident they can be overcome. Some areas are going to need more time or help or aid than others in recovery and building and I know we’re all committed to

help everyone in Southwest Florida. We make a choice to live here in Lee County. Some of us, some of you, are multigenerational. I’m not--but I do hope that my family is that start of a multi-generational family of Lee County. And the commitments we make to bringing our businesses here and to have those businesses prosper throughout Lee County.

“We know where we live. We make a choice where we live. We are in a hurricane and storm- prone area but that doesn’t deter us from understanding what Lee County is and what we are as a community. So we make those choices. We make our choices for our families to come here. We make our choices--as we have significantly in the last five years--to bring our businesses here to prosper. And we need to make sure that message is stronger than ever.

“A hurricane won’t deter us from what we know Lee County is capable of. And I’m really excited to see what we’re going to be moving forward and working with all of you and also making sure that our businesses work. And that our environment works with those areas that need the help that they so desperately need throughout Lee County. Our hospitality industry, one of our main economic drivers, has been bruised on Fort Myers Beach and Sanibel — but it’s not just about us.

“There are many other areas that have been bruised as well. And we are extremely fortunate that we also have

looked at the economic development of Lee County as a strong pillar of what we are going to have to be looking forward to supporting us over these next years as we are rebuilding those critical areas that people want to come to, and live and love. See those beaches. But again, it’s going to take some time for that growth to take place. And we’re all looking forward to that.”

Smith then shared, “I read an article yesterday that was sent to me from the New Yorker magazine. The author described me after coming upon me on Sanibel a couple of weeks after Ian hit and they said they saw this girl in leggings and muck boots and if y’all know me, I’m typically not in leggings or muck boots.

“And they referred to me as impossibly optimistic. And that author did not mean that as a compliment. That author was looking at that article and wondering if we should continue in some of these barrier islands, to continue to live and love and build and prosper. I’m taking ‘impossibly optimistic’ as a badge of honor because I am absolutely confident that together — the BOCC, this county, the municipalities, the Horizon Council paired with the Horizon Foundation, the EDO, IDA — have all a great opportunity to highlight Lee County and its resolve, determination to come out on the other side of Ian better and stronger. And I challenge that author — just watch us.”

HURRICANE IAN RECOVERY

Cape Coral among best U.S. metros to start a business

Cape Coral came in 15th place in the latest study by 42Floors on the Best Metros to Start a Business, and stood out for its low labor costs and share of startups out of total businesses.

Bringing your business idea to fruition often depends on several crucial factors. However, finding the right location remains essential in setting up a successful business.

With this in mind, 42Floors set out to rank the best metros in the U.S. to start a business, which offer a mix of opportunity and affordability.

Here are a few highlights:

• Florida claimed 4 out of the top 20 spots in the ranking, with Tallahassee at #11, Orlando at #13, Tampa-St. Petersburg at #14, and Cape Coral at #15.

• Cape Coral got good scores for its low labor costs, with $39,821 per employee per year, ranking 3rd for this metric.

• It also had the sixth largest share of startups out of total businesses, with 39.7% of companies here established less than five years ago.

• Overall, Las Vegas earned the title of best metro to start a business thanks to its business ecosystem and ample networking opportunities.

For additional information on this topic, you can access the full study and complete methodology here: 42floors.com/news/ best-us-metros-to-start-a-business/

Blue Waters Development Group helps build back Southwest Florida

Blue Waters Development partnered with Lee County Electric Cooperative and provided land for staging areas so utility crews could continue emergency electrical infrastructure repairs in Cape Coral and on Pine Island.

Land owned by BWDG in northeastern Cape Coral was used by LCEC workers to locate trucks and equipment for various levels of utility work to help restore damaged infrastructure following the devastating impacts of

Hurricane Ian. Large areas near Pine Island Road suffered significant damage to substations and to power poles. Although power has been restored to most of the city, LCEC continues to rebuild power supplies as the need necessitates. Utilizing BWDG property on the western side of the city also was critical in restoring infrastructure and power to heavily damaged parts of the city. Many residents on Cape Coral were without power for over

two weeks. The northwestern site also allowed LCEC crews to better serve Pine Island, where damage is so significant many homes, businesses and power sources were destroyed during the Category 4 – almost Category 5 –hurricane.

“LCEC is grateful for community partnerships with companies like Blue Waters Development Group. Their help during Hurricane Ian restoration is a testament to how our community

pulls together in a crisis,” said LCEC spokesperson Karen Ryan.

Blue Waters Development Group also offered land for use with the Red Cross.

“Blue Waters Development Group knows that this storm changed the lives of many people, and we want to be able to help our community recover from the historic impacts,” Danny Aguirre said. “It takes all of us working together to help our community recover.”

“It’s Day 51. That’s how I ‘keep my calendar’ these days —Day 51 since Hurricane Ian struck Sanibel Island and Southwest Florida with devastating force.”

— Holly Smith, Sanibel mayor

Smith

LAHAINA REALTY 239-281-1290 bev1314@aol.com

CREDIBILITY

CCIM is the most prestigious designation commercial real estate professionals can achieve within the industry. Graduate-level education, coupled with industry-leading technology tools, practical proven experience, and in-depth knowledge of their local markets, gives CCIMs the ability and the credibility to conduct business confidently and successfully. By partnering with a CCIM, you effectively utilize the top-level, most reliable performers in the industry: with an average of 19 years of experience, 70% of CCIM members hold executive-level positions and 90% of members refer clients to other business services. When you use a CCIM, you choose the most credible professional in the business.

COMMUNITY

Today there are CCIMs in every state, across Canada and Mexico, and in more than 30 countries around the world. Domestically, the network encompasses more than 1,000 markets, from large metropolitan areas to small cities and towns. A truly global network, CCIMs

are a powerful force in markets large and small. When you use a CCIM, you choose a trusted community of real estate professionals that are consistently sought for their dependability, intelligence, success and confidence.

INTEGRITY

CCIM designees are bound to the strictest ethical guidelines and standards of practice in the industry today. In addition, each CCIM has successfully completed a graduate level program comprised of 160 hours of education. If you ask around the industry, you’ll learn that companies and other real estate professionals are more likely to seek out experts who possess the CCIM designation, as they know CCIM stands for trust, knowledge and reliability. When you use a CCIM, you choose experts with integrity.

The CCIM designation is conferred by the Chicagobased CCIM Institute, a commercial real estate affiliate of the National Association of REALTORS. Learn more about the value of working with a CCIM at www.flccim.com/districts/southwest-district.

designation is recognized as the hallmark of professional competency. Belonging to CCIM means being part of an ethical and knowledgeable network that fosters lasting relationships based on

RE/MAX REALTY GROUP 239-281-0441 mfrye@ccim.net www.michaeljfrye.com

MICHAEL J. FRYE, CCIM

Lee, Collier & Charlotte Counties

Recipient of the RE/MAX Lifetime Achievement and Hall of Fame Award. Serving the SWFL market for over 30 years. We have 7 CCIMs to serve all our clients’ needs.

Biz Kidz Expo offers seed money for young entrepreneurs

When Alex and Conner Brown woke up on Dec. 3 and began to pack up their “Science Simplifi ed in a Box” kits, they had no idea that by the end of the afternoon they would be crowned the Jr. Division champions of the Biz Kidz Expo, earning them $1,000 in prize money.

“We had no hope. We’re so new to this!” exclaimed Alex, age 10.

But that’s exactly what J.D. Ribali, president of the YEARS (Young Entrepreneurs and Rising Stars) Foundation and producer of the event, said makes this program so special.

“Kids that have a great idea, are passionate about their product, and can portray their passion to the judges absolutely can win. Even if they have no prior experience,” he said.

Over 35 young entrepreneurs participated and competed for $5,000 in total prize money at the most recent Biz Kidz Expo, held at Miromar Outlets. The participants not only had the opportunity to sell their items to the public on the spot, but they were also scored by a panel of four judges

who tested the entrepreneurs on a variety of components including their profi t margin, target market and scalability. The top three in each division won prize money.

Unlike the Brown brothers, Kaci Richardson is a veteran of the Biz Kidz Expo and has been honing her craft for the last fi ve years. She began making baked jewelry items at

COMMERCIAL REAL ESTATE

LSI Companies brokers scattered agricultural parcels

LSI Companies brokered 252.41 acres of scattered agricultural parcels in Naples for $2,072,500. The properties were acquired by Collier County from HHH Investments Limited Partnership. The property is located on Burn Road in Naples. The deal was brokered by Randy Thibaut and William Rollins of LSI Companies.

LSI Companies also brokered a

21,564-square-foot lease of a professional office in Fort Myers. The property was leased by Humanity of Lee and Hendry Counties from Truist Bank. The property is located on New Brittany Bouelvard. The lessee was represented by Hunter Ward, CCIM, of LSI Companies, and the landlord was represented by CBRE and Trinity Commercial Group.

the age of 11 and quickly realized she had a talent for baking. Kaci, now 17, took home the fi rst place prize for the Senior Division for her business “Kaci’s Cakes and Bakes”, also winning a $1,000 award.

Jenna, Kaci’s mom, shared about the program on their Facebook page: “It provides the fuel of confi dence, resources, connections and knowl-

edge for young people who have chosen the highs and lows of entrepreneurship. The impact of the day can be calculated, but the long-term investment you make is immeasurable. Thank you for the heart and effort that goes into every event.”

There was also a prize awarded for the “People’s Choice” winner, and at this event, that title and $500 in prize money was won by Kyleigh See whose business “Pawsitive Packages” caters to the dog lover who wants a curated assortment of toys and treats for their canine friend.

“A key element to our program is partnering with business sponsors who mentor and support these kids. We connect them with actual business owners that run businesses every day. What better way to learn about people than from the people who are successfully doing it?” Ribali said.

The next Biz Kidz Expo will be held at Coastland Mall on April 15. Young entrepreneurs can register at www.bizkidzexpo.com.

COMMERCIAL REAL ESTATE

Rollins, Thibaut receive APEX

William “Billy” Rollins and Randy Thibaut, with LSI Companies from Fort Myers, have been recognized with the Realtors Land Institute’s APEX 2021 Largest ALC-to- ALC Networking Award. The award recognizes the largest qualifying transaction by sales volume between fellow RLI members who hold the Accredited Land Consultant Designation.

Rollins, who is also a member of the 2021 APEX Producers Club, and Thibaut received the awards from RLI CEO Aubrie Kobernus, as well as The Land Report Co-founder Eric O’Keefe on March 24, during RLI’s 2022 National Land Conference in San Antonio, Texas, at a dinner that included special guest Jamey Clement, retired board chair of Texas’ King Ranch, the nation’s largest ranch at 825,000 acres.

“I am honored to be recognized by RLI for this award,” Rollins said. “We have an exceptional team behind us at LSI Companies and I would like to thank them for the goals we were able to achieve.” Rollins has been a part of RLI since 2007 and is currently the Past President of the Florida Chapter.

“We are proud of Billy and all of our members that were recognized as

2021 Awards

part of our award programs for their accomplishments in 2020. They truly are the crème of the crop when it comes to land real estate professionals,” Kobernus said about the winners.

The APEX Awards celebrated its fifth year by continuing to boom, with 203 applicants ( up 45% over 2020) totaling a combined $8.4 billion in qualifying production volume (up 240%) representing 8,696 sides. All land professionals recognized as part of the RLI APEX Awards Program are active members of RLI and had at least $5M of qualifying production volume in closed land sales in 2021.

Alex and Conner Brown were crowned the Jr. Division champions of the Biz Kidz Expo for their “Science Simplified in a Box” kits.

Condos and HOAs, beware of hurricane recovery pitfalls

Part 2 of 2

Homeowner associations shouldering the enormous responsibility of restoration are inundated with proposals, often benefitting contractors over the community. Below are urgent matters to consider in Ian’s aftermath: Time and Materials Contracts: Avoid Time and Materials Contracts without a maximum price. Openended contracts leave no incentive for contractors to work efficiently. Costs multiply excessively as it’s nearly impossible to verify hours and materials. Be particularly mindful of hourly equipment charges (fans, dehumidifiers, etc.).

Loss Assessments Coverage: Levy special assessments for repairs. Florida law provides H06 policyholders $2,000 minimum for special assessments (may exclude flood damage). Written resolutions and meeting minutes may be required before payment. Do not advise owners other than stating loss assessment coverage may be available, as their interests may be averse to the HOA’s. Seek counsel to ensure levying proper assessments and procedures.

Rental Equipment: Active construction allows lien rights for rental equipment owners. Idle equipment needlessly accumulates rent. Even worse, the contractor may have transported it to another job. Florida law allows associations to stop the clock in two business days by sending notice for pick up directly to the provider.

Exaggerated Claim Amount: Do not sign an exaggerated Proof of Claim. Grossed up claims to cover costs or avoid paying deductibles can be considered insurance fraud and pointed back to the signing board member.

Exaggerated Scope of the Claim: Beware of scopes of aclaim including items that are not the association’s responsibility. Claims made without ample evidence result in denial, or reaching a settlement lower than actual repair costs, and trigger condominium insurance statutes. Submitting a sworn Proof of Loss can hold HOAs responsible, resulting in the levy of special assessments to cover shortfalls.

Attorneys Christopher L. Pope, Christopher J. Shields, Alexander J. Menendez, and Vanessa Fernandez work at Pavese Law Firm. Call (239) 334-2195 or visit paveselaw.com.

Want my advice? Go north young man

Horace Greely, an editor and publisher from the early 1800s wrote a story advising young men to “GO WEST” to seek their fortune; an era when California was a new frontier. Timely advice.

New frontiers are an investors dream, but without an experienced eye they can quickly become their nightmare. Forty years of success, woven with a few hard lessons, has earned me that eye. My timely advice today is “GO NORTH YOUNG MAN.”

The area between North Fort Myers and Punta Gorda is a fertile investing area. Anyone watching the activity along U.S. 41 (from the river north to Tuckers Grade Road) might question the wisdom of jumping into this arena after nearly every parcel of land has been traded repeatedly, thinking opportunity lost, but they would be missing out on the rewards of patience, an investors secret to success. Investors like myself would encourage others to look elsewhere with a wink, leaving the spoils to us. Like playing any market, you must understand the game. Watching as prices consistently increase you may be leery, questioning if there is still room for profit. The answer is yes.

Land investors are trading places with the actual users. The big boys are in town, having realized the growth that is not only coming; it’s here! There are more than 20 developments of great proportion being built in north Lee County, Hancock Bridge Square and Merchants Crossing are happening. Sunseekers and Tuckers Point are under construction in Charlotte County just to name a couple. The push to merge the two areas of North Lee and South Charlotte County has already begun. To envision the direction the North Fort Myers to Punta Gorda corridor is taking over the next 10 to 15 years, look at Bonita Springs, Estero or South Fort Myers. Can you even tell where they begin or end?

Southwest Florida has been an investor’s haven since the recession ended around 2015, with properties of all types selling as many as three times — each sale larger than the previous one. Millions of dollars have been made right here in Lee and Charlotte Counties by savvy real estate investors just like you.

Now is a particularly good time to invest. The influx of people coming to our area (for

BY RANDY KRISE Guest Columnist

many reasons that are not going away) is ever-increasing. There is tremendous dollar volume being invested to rebuild Southwest Florida after the catastrophic damage left by Hurricane Ian. Many remember what Hurricane Charley did to Punta Gorda in 2006. Look at it now. After a more than a $2 billion investment, the downtown has been updated, transforming it into a beautiful city with a welcoming picturesque view overlooking the stunning Charlotte Harbor.

There is little space south of the river for larger developments, which makes North Fort Myers the logical candidate to be the first recipient of new growth.

Currently, more than 1,000 apartments are being built between the Caloosahatchee River and Pine Island Road. Every parcel of land that was previously part of Entrada (the large broken development located at Del Prado Blvd and North Cleveland Avenue) has been sold to developers, and much of Entrada I and II has been built. Old U.S. 41 (North Tamiami Trail up to The Shell Factory) is growing with retail centers, RV and self-storage, industrial buildings and affordable housing either under construction or close to breaking ground.

Along with the growth of North Fort Myers will come ancillary services and franchises. Medical, food and auto services will lead the way for smaller land users. I speculate that North Fort Myers will become incorporated as a city, like Little Rock and North Little Rock, Arkansas, which are also separated by a river.

But you can’t win if you don’t play, so take the plunge and get in the game. Opportunity is knocking. There’s no profit in the “wait and see,” only regret. Jump in! The water’s fine.

Randy Krise, CCIM is an investor, real estate broker and owner of Krise Commercial Group, in Fort Myers. Randy can be reached at (239) 6338672 or randy@krisecg.com.

More features to consider to improve your LinkedIn profile

Personal LinkedIn Video Intro: If a picture is worth a thousand words, a personalized video is priceless. This short-form video gives you 30 seconds to pack in your top skills, services, or products, and most importantly, how you may help the prospective client or employer. When a video is available for someone’s profile, you’ll see a green dot and a short 2-3 second preview when you mouse over their profile pic. Click on the profile picture, and you’ll see and hear the full video. This spot allows you to show your personality and subject matter expertise. However, we recommend that you think carefully about what your top goals are and keep your audience in mind. A recruiter from an HR department will look for different information than an IT lead in the market for new software. Like the name pronunciation feature, the video is visible on both desktop and mobile, but you can only record it on mobile using a smartphone. Where to find it: Mobile App, View Profile function. Click on: Plus, symbol by your profile photo, select “Add cover story”

Creator Mode: Depending on your goals for using LinkedIn, it may make sense to turn on the newly available Creator Mode. This mode makes your LinkedIn profile behave a little more like Twitter. Creator mode function is designed to make your content’s discoverability more likely, in

Utilizing Bitcoin as pristine collateral for mortgages

By Matty Ice Guest Columnist

Part 1 of 2

Pristine collateral is a term that is used to describe assets that are highly liquid and have low risk of default. These assets are typically considered to be safe and secure, and are often used as collateral for loans or other financial transactions.

For more business news,visit www.swfloridabusinesstoday.com

BY ROBERT KENNEY Guest Columnist

both the news feed and your profile itself. In Creator mode, your default call to action button changes from “Connect” to “Follow,” and the order of your profile sections shift. Typically, your “about” section comes next. However, Creator mode moves that down to make room for the new “Featured” section and brings “Activity” up higher. This mode is best suited for showcasing original content. So, if you write a blog or post frequently to support your business or personal brand, this may be a great option. Note: The jury is still out regarding if this is the best option for those who would prefer to build connections, such as a job seekers or sales executives. However, you CAN have the best of both worlds by changing the default call to action back to “connect” (rather than follow) while still in Creator mode. Where to find it: Your Dashboard on your profile page. Click on: “Creator Mode: Off,” and follow prompts to set it to “On.”

Robert Kenney is Director of Business Development for Dragon Horse Agency, which has offices in Naples and in Santa Monica, CA. Contact (239) 325-5088 or rkenney@dragonhorseagency.com.

Bitcoin is often considered to be pristine collateral because it is a decentralized digital currency that is not controlled by any central authority, such as a bank or government and cannot “default” in the sense that other financial assets can. Owning a Bitcoin is simply owning the asset itself as 1 Bitcoin will always equal 1 Bitcoin. Each Bitcoin is completely fungible with all other units- in the same way as the $20 bill in my pocket is interchangeable with the $20 bill in your pocket. This means that it is not subject to the same risks of default that are associated with more traditional forms of collateral, such as stocks or bonds. Additionally, because Bitcoin is continually becoming more widely accepted and has a high degree of liquidity, it can be easily converted into cash or other assets (This was recently demonstrated by Elon Musk when buying and selling billions of dollars’ worth on Tesla’s balance sheet), which makes it a highly liquid form of collateral.

The fact Bitcoin is pristine collateral has some important implica-

tions for those who use it. For one, it means that it can be used to secure loans or other financial transactions without the need for additional collateral or guarantees. In my opinion, it can also be used as additional collateral in some instances and in the short term will have the ability to essentially “overcollateralize” certain loan products. This can make it an attractive option for borrowers who may not have access to other forms of collateral, or who are looking to minimize the risks associated with securing a loan. Additionally, the fact that Bitcoin is pristine collateral can also make it easier for lenders to assess the risk associated with a loan and can help to ensure that the loan is repaid in a timely manner.

Using Bitcoin as collateral for a mortgage has some potential benefits. For one, it provides a way for individuals who may not have access to traditional forms of collateral, such as property or stocks, to obtain a loan. This can be especially useful for individuals who may not have a long credit history or a high credit score, which can make it difficult to qualify for a loan using more traditional methods.

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

Naples Zoo awards expansion project to Waltbillig & Hood

The Naples Zoo awarded Naples-based Waltbillig & Hood General Contractors its ambitious capital improvement project to increase the Zoo’s capacity to meet its education and conservation mission at the 100-year-old park.

The Finding Florida New Entrance and Visitor Complex expansion plans include a new entrance to the Zoo, the Jeanne Guglielmi Welcome Center, the Hamill Family Education Center, a new gift shop, volunteer center and a complete upgrade of Alligator Bay.

The four-acre complex was inspired by the old Florida lifestyle and was designed by GLMV Architecture, a national Zoo and Aquarium architecture firm. The centerpiece of the design is the Hamill Family Education Center which is poised to be the environmental education hub in Southwest Florida. The Finding Florida New Entrance and Visitor Complex will also feature new exhibits with native species in the Ann and Sen. Rick Scott flamingo and roseate spoonbill exhibit.

Additional components of the Zoo’s capital campaign expansion project include new animal exhibits in the South American Trail experience, immersing guests in grassland and rainforest exhibits.

The projects have been started and will take approximately 2 years to complete, with the South

COMMERCIAL REAL ESTATE

New business opening travel opportunities to many in Bonita

Keneca Coastal offers luxury day trip excursions for groups and eventually individuals to various surrounding destinations including Palm Beach, Miami, Wellington, Sarasota and more.

The day excursions are currently available for groups of 14 to 55 guests. The trips last anywhere between 8-10 hours depending on the destination and transportation is provided on a luxury motor coach. In the future, Keneca Coastal will expand its list of destinations and offer excursions to individuals.

One of the many trips includes a day trip to Miami. This excursion visits the gorgeous Vizcaya Museum and Gardens in Miami. This National Historic Landmark is a 1916 waterfront estate situated on Biscayne Bay. The mansion was owned by agricultural industrialist James Deering and has distinctive architectural interiors with European art and antiques, as well as Italian Renaissance formal gardens.

Keneca Coastal was started by Susan Bunch, a past school principal with a strong passion for history, education and travel. The idea was sparked from a day trip with her seasonal girlfriends who had never been to Miami even though they lived so close. It was then instilled in Bunch to provide the opportunity of travel throughout South Florida.

American Trail Experience expected to be complete in early 2023.

“As a Naples native and longtime resident, Naples Zoo holds a special place in my heart and the team at Waltbillig & Hood is thrilled to be a part of the vision to inspire environmental stewards of all ages,” said Jay Waltbillig, co-founder of the construction firm.

“We had a positive experience with Waltbillig &

Hood when they were awarded the contract for our major giraffe exhibit renovation in 2020. That experience continued and grew the following year with their work on the first phase of our new entrance and visitor complex which included a new horticulture barn and nursery, maintenance facility, pump house and lift station,” said Jack Mulvena, Naples Zoo president and CEO. “Based on our experience and their competitive pricing, we’re confident that Waltbillig & Hood will work in partnership with us to build a new entrance and visitor complex that is desperately needed and will be transformative for Naples Zoo and for our growing number of visitors and guests.”

Construction is already underway and guests will begin to see improvements in early 2023 with the South American Trail Experience. “The construction project will be managed in such a way as to create the least disturbance for animals and guests,” said Brian Hood, who co-founded the firm with Waltbillig in 2016.

An expert in health-care construction, Hood said managing the Zoo’s capital project is similar to renovating hospitals while patients are undergoing care. “We’re going to take special care that the guest experiences and animal welfare are our top priority while we carry out this two-year project,” he said.

Sanibel Captiva Community Bank reopens its

office COMMERCIAL REAL ESTATE

Sanibel Captiva Community Bank has reopened its Main Office on Periwinkle Way in Sanibel. Prior to reopening, the bank has been offering banking services in the Main Office parking lot for the past seven weeks due to hurricane damages. The building experienced minor water damage and only required minimal water remediation. Repairs are complete in the bank’s boardroom, which will serve as a temporary branch while the remainder of the building continues to undergo renovations.

Bank staff will be onsite Monday through Friday, 9 a.m. to 3 p.m., to provide island residents and business owners who are existing customers with banking services. Safe deposit boxes formerly located in the Main Office have been safely and securely transported to the bank’s Bridge Branch on College Parkway and can be accessed during regular business hours.

“We are delighted to be back in our Main Office on Sanibel,” said Craig Albert, CEO of Sanibel Captiva Community Bank. “Providing banking services out of our parking lot in the aftermath of Hurricane Ian was important so we could help our customers in their greatest time of need, but we are so pleased to get back in our building to es-

main

tablish some normalcy for our island customers.”

For additional information or questions, call (239) 472-6100. For operational updates and additional bank information, visit sancapbank.com/ hurricane-ian-recovery-resources.

Founded in 2003, Sanibel Captiva Community Bank has six open locations throughout Lee County. The bank is nationally ranked in the top 2% best-performing community banks by S&P Global Market Intelligence out of more than 4,400 banks with assets under $1 billion. It is well-capitalized, with more than $729 million in total assets, and generates one of the highest returns on equity of all Florida banks. The bank employs more than 100 employees, and more than 60% are current shareholders.

Sanibel Captiva Community Bank’s team members provide customized individual and business banking services and specialize in residential and commercial lending. The bank offers free personal and business checking, deposit accounts with competitive interest rates, instant issue debit cards and a full array of digital banking products and services, including mobile banking apps, CardValet, online bill pay, Zelle, Positive Pay and ACH Manager.

The Finding Florida New Entrance and Visitor Complex at Naples Zoo will increase the Zoo’s capacity to meet its education and conservation mission.

Should small businesses buy or lease their

For the past year, small businesses in Southwest Florida have been confronting the same challenges as residents when searching for property — inventory is limited, and prices are high. Hurricane Ian only exacerbated that problem.

Businesses and residents alike are asking the same question: Given the current real estate market, should I buy or lease property? Both options are expensive, so it’s important for business owners to take an extended dive into their company outlook — short-term and long-term — to make this decision. Below are four considerations to start this conversation:

• Age of business: Are you established with regular customers and a steady cash flow or a startup company looking to make a splash?

• Location: Does your location and visibility affect business operations and profitability or will customers still find you in a strip mall or location off the main drag?

• Cost: Do you have cash on hand for a down payment and construction or renovations or would you prefer lower upfront costs and predictable monthly capital expenses?

• Timeline: Do you need a turnkey building now

BY HAMISH WILLIAMS Guest Columnist

or can you wait a few months or even a year for a perfect building to suit your needs?

Answering these basic questions helps move the conversation to the next level. Then, you can begin looking at the pros and cons of buying a property vs. leasing a property.

Buying a Property

Buying a commercial building or land is a long-term commitment that requires great deliberation and evaluation.

Pros of buying: 1. Equity builds over time. 2. Income potential by renting space or selling outparcel. 3. Tax advantages. 4. Pride of ownership

Cons of buying: 1. Large down payment. 2. Financing commitment/higher interest rates. 3. Insurance requirements. 4. Costs of upkeep

Leasing a property

Many businesses don’t own their property be-

Tamiami Angel Funds invests in water tech company

Angel investors from Southwest Florida invested in Irrigreen, a landscape-irrigation company whose technology cuts water use by 50% adopting techniques from inkjet printing.

Members of Tamiami Angel Fund IV invested $1.465 million in two rounds of funding for Irrigreen, boosting investments of $512,000 by members of Tamiami Angel Fund III in 2020 and 2022. Members of the two funds invested $1.977 million in Irrigreen.

“The additional investments by our members in Irrigreen is a vote of confidence in the technological leap that has made the company a national leader

in water conservation,” said Timothy Cartwright, chairman of Tamiami Angel Funds.

Like the inkjet printers Chief Technology Officer Gary Klinefelter invented, Irrigreen’s robotic sprinkler heads jet precise amounts of water onto landscaping. The technology combines real-time weather measurements such as temperature, soil moisture and rainfall with GPS mapping.

Irrigreen plans to use the angel-investor funds to build its sales team and invest in research and development for commercial applications such as golf courses and municipal parks.

cause of the upfront cost, but finances also are a consideration when choosing to lease.

Pros of leasing: 1. Nominal security deposit. 2. Regular payment structure. 3. Flexibility. 4. Owner covers upkeep

Cons of leasing: 1. No equity. 2. Contract length is locked in. 3. Potential rent increases with extensions

Entrepreneurs launch businesses to sell products or services, with a goal of making a profit. Success is usually measured in sales volume, but it also can be measured in smart decisions. Choosing to buy or lease is one of those pivotal decisions, particularly in Southwest Florida following Hurricane Ian. Businesses should tap into the expertise of a trusted commercial property expert when developing a business plan. They can help weigh the pros and cons so business owners will make the right decision.

Hamish Williams is senior vice president of sales and leasing with AJS Realty Group, which offers sales, leasing and property management services for property owners and tenants, as well as buyers and sellers, across Collier, Lee and Charlotte counties. Visit AJSrealtygroup.com or call (239) 596-9500.

ECONOMIC PAGE 1

scared. But it’s just gone lower.

“In my profession,” he noted, “we look at this consumer confidence factor as an indicator of future spending and future tax revenue.”

However, he pointed out, “From 2015 through early 2020, Florida created more than one out of every 11 jobs in this country. And we’re about 5% of the US economy so one in 20 would have been average. So we’ve been a job creator, no doubt. During the COVID pandemic,” he stated, “it took Florida only 18 months to recover to the pre-COVID job number, and now we’re up, more than 426,000 jobs. What’s interesting though, was that Lee County actually recovered its number of pre-COVID-19 jobs even earlier than the state: it was fully recovered in June 2021. Now not every single job is back but Southwest Florida has done really well.“

Parrish went on, “Compared to Florida and the US a couple of things stick out. In construction, the percentage of private sector jobs are double in Lee County than what they are in Florida, which are higher than the U.S. and THAT’S a big difference.” While Southwest Florida has certainly been subjected to what’s been going on in leisure, hospitality and construction, he observed, and were again impacted by Hurricane Ian, fortunately, those construction numbers

are back.

Moreover, population growth has been huge here, Parrish stated. “Lee County grew to number six in population growth in the country between the censuses of 2010 to 2020. Number six in actual numbers, and number 10 as a percentage, which is a ranking of 23. Clearly, there is still a large demand to live in a great spot like this.

“Finally, I want to address GDP (Gross Domestic Product) growth. The U.S. metro areas’ GDP is a little over 30%, the state of Florida is at 43%--but the GDP for this region is at a whopping 52.4% (the Cape Coral/ Fort Myers Metro Statistical Area), which is Lee County, of course, so it’s growing.”

Parrish continued, “So why is this so important? To determine GDP you can think about this long formula if you want to, but I think of it as value-added. People are adding value to stuff--it can be on a home, construction, and of course, Southwest Florida gets a lot of construction. That’s how you determine GDP. Same as a restaurant: it’s the difference in what people pay for ingredients versus what we charge for that meal at a restaurant. So, GDP in this region is growing heavily.”

He concluded, “And, you know, even with hurricane potential, you’ve still got a great place to live and you’ve still got people who want to both visit and move to Southwest Florida.”

Sailing past Hurricane Ian

It’s true. Hurricane Ian took a great toll on Southwest Florida on Sept. 28, when it made landfall on Cayo Costa off of Fort Myers Beach, Sanibel, Cape Coral and Captiva Island. Ian has impacted our ability to offer courses in these locations right now due to marina and fuel dock damages.

We’re pleased The Westin Cape Coral Resort has reopened to guests, and it’s restaurants and resort amenities are open. The Pink Shell Beach Resort on Fort Myers Beach will reopen some resort accommodations on December 19 and its restaurant is offering breakfast, lunch and dinner daily now. It’s great to get staff back to work.

The Sanibel Causeway will reopen to the general public on Jan. 2, a remarkable feat since several sections of concrete washed away during the powerful storm. Businesses on Sanibel and Captiva Islands are reopening. While South Seas Island Resort remains closed, we’re happy for our friends at ‘Tween Waters Resort who will reopen resort rooms and spa on Dec. 17. ‘Tween Waters’ restaurants, pool and marina are open now. The horizon looks bright and it’s truly heartwarming to see the support among residents and guests alike.

It’s our mission to restore and rebuild, returning this coastal region with stunning natural views and wildlife one of the most popular and well-visited destinations in the U.S. We’re delighted to offer all of our courses with partners, the Downtown Hampton Inn & Suites in St. Petersburg, Scrub Island Resort and The Moorings base in Tortola in the British Virgin Islands right now.

We’re excited to take delivery of two all-new boats in our fl eet, a Jeanneau 440 monohull and another 40’ catamaran. This means new course dates will be available this winter. We may also possibly open one or more all-new locations. We are busy; stay tuned!

Contact the Steve and Doris Colgate Offshore Sailing School at (239) 344-8133.

for the people of Dunbar.”

The Cleveland Avenue housing development is estimated for completion by summer 2024, supporting the launch of additional projects that will continue over several phases.

The Greater Dunbar Initiative is funded in part through a $30-million Choice Neighborhood Initiative grant from the U.S. Department of Housing and Urban Development and aims to transform the community into an equitable, desirable and proud neighborhood that meets the needs of all residents.

“Today’s groundbreaking is a celebration of this community’s resilience and of the tangible progress we can make when federal and local government partners work together to address the needs of the communities we serve,” said Cindy Nava, senior policy advisor for the U.S. Housing and Urban Development Department.

More than 200 housing officials from across the nation participated in the groundbreaking

LOAN PAGE 1

are available at the Business Recovery Centers to answer questions about the disaster loan program and assist business owners in completing their applications or applying for reconsideration. Due to the ongoing COVID-19 pandemic, the SBA has established protocols to help protect the health and safety of the public. All visitors to the BRCs are encouraged to wear a face mask.

Interest rates are as low as 3.04% for businesses, 1.875% for nonprofit organizations, and 2.188% for homeowners and renters, with terms up to 30 years. Loan amounts and terms are set by the SBA and are based on each applicant’s financial condition.

Applicants may apply online using the Electronic Loan Application (ELA) via SBA’s secure website at disasterloanassistance.sba.gov/ela/s. Apply under SBA declaration No. 17644.

ceremony. As a HUD Choice Neighborhood, Fort Myers was selected as the host destination for the 2022 Communities of CHOICE Conference, an annual national conference held Nov. 30 through Dec. 2 that brought hundreds of housing officials and past, present and future Choice Neighborhood Initiative grantees to Southwest Florida to share and establish housing strategies.

“The City of Fort Myers, Housing Authority and many local nonprofits, government entities and community partners have played an integral role in the planning, approval and execution of this initiative, and we are thrilled to take the first step in this process,” said Fort Myers Mayor Kevin Anderson. “We look forward to seeing how The Greater Dunbar Initiative will transform lives by replacing housing for existing residents and attracting new residents in a way that helps create a catalyst for reinvestment and improvements within the larger Dunbar neighborhood.”

To learn more about The Greater Dunbar Initiative, visit www.HACFM.org or call (239) 344-3220.

To be considered for all forms of disaster assistance, applicants should register online at DisasterAssistance.gov or download the FEMA mobile app. If online or mobile access is unavailable, applicants should call the FEMA tollfree helpline at (800) 621-3362. Those who use 711-Relay or Video Relay Services should call (800) 621-3362.

Disaster loan information and application forms can also be obtained by calling the SBA’s Customer Service Center at (800) 659-2955 (if you are deaf, hard of hearing, or have a speech disability, dial 711 to access telecommunications relay services) or email to DisasterCustomerService@sba.gov.

Loan applications can also be downloaded from sba.gov/disaster.

The filing deadline to return applications for physical property damage is Jan. 12. The deadline to return economic injury applications is June 29.

Standing Strong with Our Community.

When Edison National Bank opened its doors in 1997, we commemorated the occasion by planting a Royal Palm. Today, that tree is a testament to 25 years of service. We’re standing strong and continue to plant the seeds of trust and loyalty. As the oldest locally owned and chartered community bank in Lee County, our roots go deep in the community, and we remain unwavering in our commitment to your banking needs.