Gulfshore Business Daily: Sept. 27-Oct. 1

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Photo Credit: Naples Players exterior rendering. Courtesy Naples Players

Catch up on this week’s top business news here. For daily information, subscribe to our free newsletter, Gulfshore Business Daily, and find archived newsletters at GulfshoreBusiness.com.

 

Friday, Oct. 1

FLOOD INSURANCE PROGRAM COMES WITH CONCERNS
A Southwest Florida insurance broker has shared his concerns about the new federal flood insurance program with Congressman Byron Donalds. About 1.7 million Floridians with flood insurance will see a new federal system raise their rates by at least 150%, according to several prominent Southwest Florida insurance brokers. FEMA’S National Flood Insurance Program (NFIP) recently revealed the new rating platform called Risk Rating 2.0.  Effective Oct. 1 of this year for new policy holders, it replaces a program that has been in place for more than 50 years. The new program will take effect April 1 of next year for all existing policy holders. For the full story, click here.

 

Thursday, Sept. 30

NCH SAYS UNVACCINATED EMPLOYEES HAVE ‘VOLUNTARILY RESIGNED’ AS OF TODAY 
Employees of NCH Healthcare System who have not complied with NCH’s COVID-19 vaccine requirement or otherwise have chosen not to be fully vaccinated will have “voluntarily resigned” as of today unless they have an approved medical or religious exemption, according to a letter Gulfshore Business received Wednesday from NCH. “All employees including prospective, newly hired, and/or onboarding employees, providers, contract staff, and volunteers must receive the COVID-19 vaccination, in full, by September 30, 2021, or within four weeks of their date of hire as a condition of employment, unless otherwise exempted from this policy by an approved accommodation (religious or medical exemption),” the letter states. 

 

Wednesday, Sept. 29

NAPLES PLAYERS ANNOUNCES $15 MILLION REVITALIZATION
The Naples Players (TNP) has announced a $15 million capital project to renovate and re-imagine its home on Fifth Avenue South in downtown Naples. Plans for the revitalized facility include significant improvements to the existing theaters and the creation of an additional theater designed to anchor the organization’s Educational Theatre program, serving students of all ages and abilities. To date, TNP has raised more than 60% of the construction cost – and local philanthropists Jay & Patty Baker have pledged $2 million in matching funds to help continue the current momentum. The theater has hired David Corban Architects to lead the project and Theatre Consultants Collaborative to oversee the design of performance systems. Lead donors have named each of the three theaters in the facility. The major performance hall is named by Patty & Jay Baker as “The Kizzie Theater,” the blackbox theater named by Henry Price will be known as “The Price Studio Theater,” and the new educational theater will be “The Tanya & Denny Glass Educational Theater.” Several prominent spaces are named in honor of supporters. 

 

Tuesday, Sept. 28

COLLIER COUNTY TOURISM ON PACE FOR RECORD-SETTING YEAR 
Collier County is on pace for a record-setting year for leisure visitation in 2021. The highest tourism tax collection in a single month in Collier’s history was recorded in April this year. That kicked off the county’s highest second quarter in history for tourism tax collection from April to July, which experienced a 24% increase over the previous record set in 2019. With a vision to be recognized as the top destination for travel in the nation, Collier’s Tourist Development Council on Monday morning unanimously approved the fiscal year 2021-22 strategic marketing plan for the Naples, Marco Island, Everglades Convention & Visitors Bureau, which has a $5 million marketing budget. The bureau’s new unique value proposition is that the area “promises an elevated coastal, cultural, culinary and ecological paradise to those with an expectation of excellence.”

 

Monday, Sept. 27

STRONG DEMAND, LOW INVENTORY FOR SWFL HOMES IN AUGUST, NABOR REPORTS
Demand for homes in Collier County kept Realtors busy in August, even as inventory dropped 77.3% to 1,249 homes from 5,503 homes in August 2020, according to the August 2021 market report released Friday by the Naples Area Board of Realtors (NABOR), which tracks home listings and sales within Collier County except for Marco Island. Realtors escorted buyers on more than 30,000 home showings in August. The month’s strong showing activity—coupled with a 76.8% decrease in days on market to 22 days—means most homes were listed, shown and sold in less than 30 days. “Pent-up buyer demand that began last summer has stretched inventory thin. This could lead to upward pressure on pricing,” says Mike Hughes, vice president and general manager for Downing-Frye Realty Inc. Historically, median closed prices of homes sold during summer months tend to be lower than median closed prices of homes sold during the high-season months of January through April, but that trend did not occur this year. According to the report, the median closed price of $441,300 reported in August was $75,000 higher than the median closed price reported in January. To see NABOR’s full report, click here.

 

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