Monday – July 30, 2007

AREA CONDO VALUES UP SLIGHTLY WHILE VALUES FOR SINGLE FAMILE HOMES DECLINE – According to the June report of the Florida Association of Realtors, Volusia County’s median sales price for single-family existing homes declined by 10 percent over the past 12 months from $219,900 in June 2006 to $197,100 in June 2007. However, the sales price of condominiums has shown an increase of 12 percent for the same period posting a $276,900 level for June up from $248,100 in June 2006. Statewide, the median sales price in June 2007 was $243,200 for a single-family home and $206,100 for a condo.

COUNTY COUNCIL TO CONSIDER COMMUTER RAIL – The Volusia County Council will hold a special meeting Tuesday, July 31 beginning at 9:00 a.m. in the Council Chambers in DeLand to discuss and vote on the merits of commuter rail services and its impact on future development. At the center of this discussion is the proposed development of a commuter rail station along U.S. 17-92 in the City of DeBary that would connect commuter rail services to Seminole, Orange and Osceola counties and the City of Orlando and what the county’s future role in it may be.

BIO-FUELS FROM CITRUS PEELS - Because citrus peels are high in sugar, there has long been interest in Florida for converting the byproduct of state’s juice production into bio-fuels. Florida Power & Light - Energy says its plant in Hendry County will be the world's first commercial plant to convert citrus peels into ethanol. Florida could produce 60 to 90 million gallons of ethanol per year from citrus peels, replacing about 1 percent of Florida's annual consumption of gasoline.

DBCC HOSTS DELEGATION FROM DOMINICAN REPUBLIC – A small business delegation from the Dominican Republic including representatives from the “Asociacion de Ferreteros Inc.” and “Inversiones CEDAL” were hosted by college officials last week. The Caribbean representatives had an opportunity to tour area businesses and entrepreneurial and training programs associated with the college’s many programs and learn of the benefits of the community’s Advanced Technology Center. DBCC has been working with the island nation’s government, education and business leadership to establish a working community college system capable of supporting the technical needs of the developing nation’s workforce. This latest delegation is just one of several that have visited the Daytona Beach area during the past few years as the college continues its efforts to map out a joint strategy for the future.

TWO VOLUSIA COUNTY COMPANIES LISTED IN FLORIDA TRENDS TOP 150 – Annually, Florida Trend Magazine ranks the state’s best performing companies by means of gross annual sales. Congratulations to Daytona Beach’s Brown and Brown, Inc. and International Speedway Corporation for their superior performance. Combined, the two companies posted more than $1.676 billion in annual sales for 2006.

NEW BUILDING PERMITS FOR 2ND QUARTER FLAT – Volusia County’s new construction permits for both residential and commercial activity for the months of April, May and June posted a value of $184.78 million, down from $301.5 million reported in the first quarter of the year. New residential permits for the second quarter showed an activity level of $143.36 million with $33.259 million approved for the unincorporated areas of the county followed by $20.207 million for Daytona Beach, $18.391 million for Port Orange and $17.081 million for DeLand. A total of 584 permits for residential homes were issued for the three- month period ending in June as compared to 522 for the first three months of the year. While the number of permits increased, their overall total value declined. Commercial permit activity topped $41.416 million during the same period, down in overall dollar value from the first quarter. Permit activity for the second quarter suggests that the decline in overall construction activity may have not yet reached its low. Any rebounds that were experienced during the first three months of this year may have only been a temporary occurrence. Regardless, Volusia County construction activity is still expected to reach $1 billion for 2007.

CENTRAL FLORIDA RANKED HIGH FOR FOREIGN REAL ESTATE INVESTMENT - Foreign investors have poured more than $120 million into Central Florida real estate between January and June of this year. Ranking as the 19th strongest market in the U.S. for foreign investment, Central Florida’s growth of commercial office and industrial space along with a demand for new student housing helped to make maintain the region as a strong market for foreign investment.

NEWS ITEMS WANTED! – Please send your business news items to Dave Byron, Volusia County Community Information Director, 123 W. Indiana Ave., DeLand, 32720-4612, by fax at (386) 822-5072 or by e-mail at dbyron@co.volusia.fl.us.