Florida’s Minimum Wage Increases

30 12 2006

Florida’s minimum wage will increase to $6.67 an hour, effective Jan. 1, 2007, a 27-cent increase from the $6.40 an hour minimum wage in 2006.

A constitutional amendment approved by voters in November 2004 created a $6.15 an hour minimum wage in the state and required the Agency for Workforce Innovation to perform an annual calculation to establish a new minimum wage each year. The constitution also requires the adjusted minimum wage to be published.

The 2007 minimum wage represents a 4.2 percent change in the federal consumer price index for urban wage earners and clerical workers in the South Region for the 12-month period prior to Sept. 1, 2006, the Agency for Workforce Innovation said.
The state’s 2007 minimum wage is $1.52 more than the current $5.15 federal minimum wage. The Florida minimum wage covers all employees in the state covered by the federal minimum wage, the agency said.

Source: The Business Journal of Jacksonville

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Florida’s Minimum Wage Increases

29 12 2006

Florida’s minimum wage will increase to $6.67 an hour, effective Jan. 1, 2007, a 27-cent increase from the $6.40 an hour minimum wage in 2006.

A constitutional amendment approved by voters in November 2004 created a $6.15 an hour minimum wage in the state and required the Agency for Workforce Innovation to perform an annual calculation to establish a new minimum wage each year. The constitution also requires the adjusted minimum wage to be published.

The 2007 minimum wage represents a 4.2 percent change in the federal consumer price index for urban wage earners and clerical workers in the South Region for the 12-month period prior to Sept. 1, 2006, the Agency for Workforce Innovation said.
The state’s 2007 minimum wage is $1.52 more than the current $5.15 federal minimum wage. The Florida minimum wage covers all employees in the state covered by the federal minimum wage, the agency said.

Source: The Business Journal of Jacksonville





Local, Statewide Home Sales Drop in November

29 12 2006

The slowdown in the housing market intensified in November both locally and across the state, as home sales dropped sharply and median prices stayed flat.

The number of single-family existing homes that sold in the Jacksonville area in November dropped 19 percent compared with November of last year. The median price of those homes was $182,000, down $200 from the same time last year. The figures are from the Florida Association of Realtors and do not include numbers from the St. Augustine & St. Johns County Board of Realtors.

The drop in sales in Northeast Florida was less dramatic than in the rest of the state. Sales were down in 18 of the 20 markets tracked by FAR, with the only increases being in Ocala (1 percent) and Sarasota (2 percent). Statewide sales were down 30 percent from last November, and 15 of the markets had declines greater than Jacksonville’s.

The statewide median price was down 3 percent to $242,500, with the median price dropping in 13 of the 20 markets.

Sales of existing condominiums were also down locally and statewide. In Jacksonville, sales were off 55 percent and the median price was down 4 percent to $167,100. Those numbers do not include figures from the St. Augustine & St. Johns County Board of Realtors. Across the state, sales were down 36 percent and the median price of $206,000 was down 4 percent.

Source: National Association of Realtors





Local, Statewide Home Sales Drop in November

28 12 2006

The slowdown in the housing market intensified in November both locally and across the state, as home sales dropped sharply and median prices stayed flat.

The number of single-family existing homes that sold in the Jacksonville area in November dropped 19 percent compared with November of last year. The median price of those homes was $182,000, down $200 from the same time last year. The figures are from the Florida Association of Realtors and do not include numbers from the St. Augustine & St. Johns County Board of Realtors.

The drop in sales in Northeast Florida was less dramatic than in the rest of the state. Sales were down in 18 of the 20 markets tracked by FAR, with the only increases being in Ocala (1 percent) and Sarasota (2 percent). Statewide sales were down 30 percent from last November, and 15 of the markets had declines greater than Jacksonville’s.

The statewide median price was down 3 percent to $242,500, with the median price dropping in 13 of the 20 markets.

Sales of existing condominiums were also down locally and statewide. In Jacksonville, sales were off 55 percent and the median price was down 4 percent to $167,100. Those numbers do not include figures from the St. Augustine & St. Johns County Board of Realtors. Across the state, sales were down 36 percent and the median price of $206,000 was down 4 percent.

Source: National Association of Realtors





City Adds $5M to Home Repair Program

23 12 2006

The Jacksonville Housing Commission will spend an additional $5 million on home repairs for residents awaiting assistance through its Owner Occupied Rehabilitation Program.

The program provides home repair assistance to about 200 low-income residents in conjunction with two local nonprofits, Builders Care and Jacksonville Housing Partnership Inc. The additional funding will allow the partnership to provide assistance to twice as many residents, many of whom live in neighborhoods targeted by the city’s Seeds of Change initiative.

The program will work form an established list of more than 3,500 cases. No new cases are being accepted.

Repairs include general repairs, the addition of handicap-accessible features and electrical or plumbing upgrades or overhauls.

The money comes from loan repayments recaptured when an individual who got mortgage assistance from the city sells or refinances their home.

Source: The Business Journal of Jacksonville





City Adds $5M to Home Repair Program

22 12 2006

The Jacksonville Housing Commission will spend an additional $5 million on home repairs for residents awaiting assistance through its Owner Occupied Rehabilitation Program.

The program provides home repair assistance to about 200 low-income residents in conjunction with two local nonprofits, Builders Care and Jacksonville Housing Partnership Inc. The additional funding will allow the partnership to provide assistance to twice as many residents, many of whom live in neighborhoods targeted by the city’s Seeds of Change initiative.

The program will work form an established list of more than 3,500 cases. No new cases are being accepted.

Repairs include general repairs, the addition of handicap-accessible features and electrical or plumbing upgrades or overhauls.

The money comes from loan repayments recaptured when an individual who got mortgage assistance from the city sells or refinances their home.

Source: The Business Journal of Jacksonville





Hotel Planned for Tapestry Park Project

13 12 2006

A local developer and a local hospitality company are teaming up with one of the world’s largest hotel groups to build a hotel in a mixed-use development on the Southside.
Jacksonville-based Joyce Development Group will develop and Zieg Hospitality of Jacksonville Inc. will own and operate the 96-room Hotel Indigo, which will be part of the InterContinental Hotels Group. The hotel will be in the Tapestry Park development

Joyce Development is the developer of Tapestry Park, the first phase of which will include townhomes, a restaurant, 16,000 square feet of office condominium space and 41,000 square feet of retail space. The project is north of the intersection of Southside and J. Turner Butler boulevards.

Site work on Tapestry Park started in September, and construction of the hotel is scheduled to start in late February or early March.

Source: The Business Journal of Jacksonville








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