FAU’s 2006-2013 Strategic Plan notes that “the University plays a vital role in the life of the surrounding community, in society and as an engine for economic development.” Furthermore, President Frank Brogan noted the university’s $1.6 billion contribution to the regional economy in his “State of the University” address, which he delivered on Wednesday, September 18, 2007. (See www.fau.edu/webcast to watch his speech online) CUES works in various ways to support FAU’s contribution to the regional economy. CUES represents the university on committees and organizations such as the Comprehensive Economic Development Strategy Committee and the Broward Alliance’s Research Committee. CUES was also invited to participate in Enterprise Florida’s Florida Economic Research Network and published an article in this organization’s first newsletter.

Additionally, much of our research is focused on measuring economic impacts of our coastal resources and on supporting the region’s marine industries and other economic drivers. We are working with others to identify research gaps between the study of affordable housing and the ability of business to attract and keep workers. And we continue to assist Palm Beach County to implement a strategic plan designed to improve the economic landscape there. We also keep our finger on the pulse of redevelopment in South Florida. This issue of CUES News focuses on several of our economic development efforts.

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Congratulations to Ann-Margaret Esnard, Joyce Levine and Alka Sapat, all faculty in the College of Architecture, Urban and Public Affairs at FAU. They have been awarded a 3 year National Science Foundation (NSF) grant for research on “Displacement due to Catastrophic Hurricanes: Assessing Potential Magnitude and Implications for Housing and Land Development Policies.”

CAUPA is working closely with CUES on a day featuring  academic/practitioner discourse on growth management in the Sunshine State; unveiling an honor for our founder, John M. DeGrove; and a 35th anniversary celebration for the Center. November 19th is the day. Mark it on your calendars and look for more information on our website in the next few weeks.

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Broward, Miami-Dade, and Monroe Counties as a group are designated as an Economic Development District (EDD) by the US Economic Development Administration (EDA). The South Florida Regional Planning Council serves as EDA’s planning staff to develop a Comprehensive Economic Development Strategy (CEDS) for the District and carry out a program of planning and technical assistance for member local governments in creating and/or retaining jobs. CUES Director Jim Murley served on the CEDS Strategy Committee.

The Council's Comprehensive Economic Development Strategy analyzes the regional economy and serves as a guide for establishing regional goals and objectives, developing and implementing a regional plan of action, identifying investment priorities and funding sources, and assigning lead organizations responsibilities for execution of the CEDS.  Public and private sector partnerships are critical to the implementation of the integral elements of a CEDS. To see the final document, see http://www.sfrpc.org/data/CEDS2007Final.pdf

The Treasure Coast Regional Planning Council also convened a similar process and developed a CEDS for Palm Beach, Martin, and Indian River Counties. To see the document, see http://www.tcrpc.org/announcements/CEDS_9 13 07_3.pdf

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Under the direction of CUES Senior Fellow Frank Schnidman, CUES has organized the only web-based redevelopment resource for Southeast Florida redevelopment agencies and related stake holders. The web page, http://www.cuesfau.org/cra/index.asp, includes announcements of major conferences on redevelopment being organized by the Institute of Government as well as other organizations, and has major planning and implementation documents of the more than 50 CRAs within the region available for downloading or accessible via links. In addition there are resource sections with articles organized by topic as well as case studies and student papers. Please feel free to check out this work in progress and assist us with your suggestions for revisions and/or suggestions for additional information that should be added.  Information should be sent to Frank Schnidman, Senior Fellow, at schnidma@fau.edu.

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The Florida Economic Research Network (F.E.R.N.) is a partnership between Florida’s academic and economic development communities, serving as a virtual forum for exchanging ideas and information about Florida’s economy. F.E.R.N. also showcases the economic research expertise of Florida’s universities, informing decision makers and the broader economic development community and stimulating policy discussion in the state.

CUES Senior Research Associate MJ Matthews has been participating in this network and wrote an article for the group’s inaugural newsletter, The Idea Exchange. Her article, entitled “Stakeholder Involvement: Key to Success of Marine Industry Projects,” can be found on pp. 6-8 of the newsletter.

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The Bureau of Beaches and Coastal Systems at the Florida Department of Environmental Protection has recognized the need for better public outreach to decision-makers and stakeholders on the importance of beach management to the state and national economies. In a multi-phased study that began in 2003, CUES has been researching issues related to costs associated with placing sand on beaches and the economic benefits of beaches, including tourism. For example, CUES determined that beach-bound tourists in 2002 provided 38.5 percent of total tourist spending in Florida, resulting in $19.1 billion in direct spending and $39.1 billion in total economic impact. Healthy beaches attract visitors; thus, beach nourishment can be viewed as an integral component of tourism-related fiscal impacts. Another recent CUES study demonstrated the economic benefits of restored beaches on property values following the 2004 and 2005 hurricane seasons. One finding was that “single family properties upland of restored beaches increased in value by more than 30 percent—more than twice the increase in properties adjacent to beaches that had not been restored.” Currently, CUES is conducting a mail-out survey of beachfront property owners in selected Florida areas to gauge public opinion on the effect of recent storms on their property and the value of beach restoration efforts. This project page can be found at http://www.cuesfau.org/projects/project.asp?ProjectID=65

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A new project will soon be underway, commissioned by Workforce One in Broward County, to develop a Regional Workforce Needs Assessment for retaining and expanding a productive marine workforce so that this industry remains a viable economic force in South Florida.  The project will focus on a comprehensive workforce study to assess current and future marine workforce needs of the marine trades industry, as well as to identify methods to expand marine industry jobs for the 162,209 marine employees in the tri-county area of Palm Beach, Broward, and Miami-Dade counties.  The project will build on the 2006 Regional Marine Summit sponsored by the Marine Industries Association of South Florida, the Marine Master Plan for the Marine Industries Association of South Florida (and the work of its Workforce Task Force), and other waterways planning projects underway throughout the region.

South Florida’s marine industry generates over $4.7 billion in gross wages and earnings, with an economic impact that ranks above the citrus and cruise industries.  It is a major economic driver fueling the economy and lifestyle of the region.  Cities and counties are starting to recognize the interdependence of the region’s economy and the need to work together to ensure there is an adequate, properly trained marine workforce and to preserve and retain the rapidly disappearing marine facilities.  It is both an economic development and planning issue that can only be addressed on a comprehensive regional basis in the South Florida region. This study will help the tri-county area develop a regional approach to marine jobs.

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Mark your calendars for November 16, 2007. FAU’s Institute of Government will be holding an important seminar on TIF redevelopment financing.

Tax increment financing bonds, or “TIFs” are a popular tool used by Community Redevelopment Agencies (CRAs) to fund a variety of large scale projects designed to alleviate slum and blight, including providing financial support as part of incentive packages for private developers to help make desired major projects more economically feasible. 

In Strand v. Escambia County, No. SC06-1894, September 6, 2007, the Florida Supreme Court unanimously held that any pledge of tax increment finances, including the issuance of bonds that are “payable from ad valorem taxation” is subject to the referendum requirement mandated by article VII, section 12, of the Florida Constitution.

As a result of the Strand case, local governing bodies will now be required to go to referendum, and seek approval from the voters, prior to issuing any bonds that are payable from ad valorem taxation.  This will mean that each CRA will have to seek voter approval via referendum prior to being able to issue TIF-backed bonds.

What will be the impact of this decision on redevelopment agencies and redevelopment plans?  The rules are now different because of this decision, but in reality, just how have the rules of the game changed?  The Institute of Government has assembled a group of experienced redevelopment professionals to share their observations and their recommendations, and to help local government officials, private citizens and developers better understand the implications of the Strand decision.

For a seminar agenda and registration materials, see http://www.fau.edu/fiog/pdfs/HotTopicsTIFFINAL2Sept.172007.pdf.

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On November 8th, CUES and the Economic Development Research Institute are holding a one-day symposium intended to stimulate discussion about current gaps in affordable housing and economic development research in South Florida. The conference will provide an opportunity for academic researchers in fields such as planning, architecture, and business to engage with regional practitioners and policy makers to share ideas on an array of issues pertaining to affordable housing in South Florida. The symposium will enable stakeholders from the South Florida region to collectively raise the bar on local research that explores the nexus between the high costs of housing—both ownership and rental—and other real estate and economic development.

The symposium will include keynote speaker, John Talmage, President and CEO of Social Compact, Washington, D.C. and moderated panel/participant discussions on a proposed research agenda that could help South Florida’s housing and economic development organizations successfully address the affordable housing issue. For more information, please see www.researchsouthflorida.org.

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