$40 Million Bond Issue For UWF Project Collapses Day After Century Approval, But Project Is Not Dead
June 28, 2013
A $40 million bond issue for expansions at the University of West Florida collapsed Thursday, just one day after the Town of Century signed off on the deal, but officials say the project is not dead.
The $40 million was to come from the Capital Trust Agency, a bond conduit partnership between Century and Gulf Breeze, for a hotel, conference center, new student housing and more at the Davis Highway entrance to UWF. The college’s development arm, University of West Florida Business Enterprises, Inc., has entered into an affiliation agreement with Vieste, LLC, for the project.
Thursday marked the second time financing for the project failed. Vieste originally approached the Escambia County Housing Authority looking for a bond issue, the authority declined to finance the development because the bonds were not investment grade, Matt Dannheisser, attorney for both Century and Gulf Breeze, said.
Wednesday afternoon, Dannheisser said backers had hoped to close on the deal within a week, but he said rapid and recent changes in the bond market might be an issue. On Thursday, CTA decided the bond market was not acceptable to make the bond issue work. The bonds were to be underwritten by Raymond James & Associates of St. Petersburg.
The $40 million UWF project will include 356 student housing beds plus 54 beds dedicated to guest housing, a conference and academic center and parking amenities. The 18 acres at the east entrance of the campus on Davis Highway will also include space for retail development.
Under the agreement with Vieste, UWF was to have received a percentage of the gross revenue from the project, with UWF BEI owning the improvements after 50 years.
Now, Dannheisser said Friday morning, the deal is being restructured to be presented once again to CTA and ultimately to Gulf Breeze and Century for approval. Under the new plan, a subsidiary of UWF BEI will be formed. The now tax-free bonds will be issued to the subsidiary, which will in turn hire Vieste as the contractor to build the project. UWF BIE or the subsidiary will own and operate the facility or hire a a management company.
“UWF will build this project without the developer sharing in the profits,” he said. “UWF will ultimately have more responsibility.”
With a tax-free bond issue, the tax savings will lower the debt service, making the project more attractive to developers. The new financial structure is expected to be approved by the CTA board in the coming days and presented to the Century and Gulf Breeze councils on July 15 for their final approval.
Century entered into the Capital Trust Agency with Gulf Breeze in 1999 with Century essentially serving as the “second signature” for CTA. entury has received over $650,000 in fees since the inception of CTA. Tuesday’s approval of a $40 million bond issue for UWF would have earned Century about $14,000 in fees upon closing.
The CTA is structured in such a way to indemnify Century from any financial risk, whether it be from a company that defaults on repayment or any other legal liabilities, according to Dannheisser. The funds used for the bonds are from the CTA’s coffers, not from Century or Gulf Breeze
UWF will receive a certain percentage of gross revenue from the annual income generated from the student housing, hotel, conference center, restaurants and retail.
The private developer will fund,design, construct and develop the project. There will be no state or university funds utilized. UWF will continue to own the land and will execute a 50 year lease with the development partner. After the 50 years lease term, UWF BEI will own the improvements.
Pictured top: Development plans for the east entrance of the University of West Florida. Pictured inset: Attorney Matt Dannheisser explains the project to the Century Town Council Tuesday afternoon. Pictured below: (L-R) Dannheisser, Century Clerk Leslie Gonzalez, and Century council members Gary Riley, Ann Brooks and Sandra McMurray Jackson. Council member Annie Savage participated in the meeting by phone. NorthEscambia.com photos, click to enlarge.
Teen Arrested For Stealing About Two Dozen Highway Signs
June 28, 2013
A local teen has been arrested for allegedly stealing about two dozen highway signs from roadways in the North Escambia area.
Jerry Ladwan Barlow, 17, was arrested Thursday morning on a felony charge of grand theft less than $5,000 and damage to property. He was released to his parents.
The signs — everything from speed limit signs, to a CR 99 sign, to bridge weight limit, railroad crossing and stop signs — were seized from a home near Walnut Hill in late May after the Escambia County Sheriff’s Office received a tip.
The signs were returned to the Escambia County Road Department and other agencies.
Pictured: Stolen highway signs lined up at the Escambia County Sheriff’s Office substation in Century in late May, just before they were returned to the county and other agencies. NorthEscambia.com file photos, click to enlarge.
New Standards Aim For Healthier Foods At School
June 28, 2013
Look for high calorie sports drinks and candy bars to be gone from vending machines and the cafeteria line at schools in the future, to be replaced by healthier items.
The USDA announced new “Smart Snacks in School” nutrition standards on Thursday. Under the new standards, students will be offered healthier food options during the school day.
The standards require healthier foods, more whole grains, low fat dairy, fruits, vegetables and leaner protein. Portion sizes will be cut, with snack and a la carte items limited to 200 calories.
The rules include the ability for parents to send their kids to school with homemade lunches or treats for activities such as birthday parties, holidays, and other celebrations; and allowing schools to continue traditions like fundraisers and bake sales.
Schools and food and beverage companies will have an entire school year to make the necessary changes, and USDA will offer training and technical assistance every step of the way.
Lonely Highway: Dog Seems To Sit, Wait For Someone That Never Comes
June 28, 2013
The saga of a lonely dog is playing out on Facebook, capturing the hearts of hundreds of people, as he sits and waits alone by a country road.
On Sunday, Molly Hughes of Flomaton posted a couple of photos of dog on a roadside off Highway 113 near Flomaton.
“He has been sitting in the same spot for 2 days like he’s waiting on his owner to show up to get him,” Hughes wrote in her post, believing someone dumped the dog on the roadside. “It’s so sad.” She stopped and put out food and water for the dog, but she was unable to get very close to him.
But no matter what, the dog has continued to sit by the road, seemingly waiting for someone he loves to come back.
“It’s day 5 of this poor dog sitting in the same spot waiting on his owner to show back up to get him,” Hughes posted on Facebook on Wednesday. “We have put food and water out for him every day and tried to get him to come with us but he’s scared and won’t leave this spot.”
By Thursday, other Facebook members had begin to help Hughes take care of the roadside dog. Several people visited with the dog and provided food and water. They have been able to pet the dog, but so far he’s too frightened to allow anyone to take him to a new home.
“I want to thank everyone in the community that has helped out with this poor fella,” Hughes said. “It’s so heartwarming to know that many people actually care and will take the time out of their day to help an animal.” On Thursday, Hughes was able to spend about 45 minutes with the dog, providing him not only with more food and water, but a bone and some much appreciated treats.
“Please keep him in your prayers and pray that he will decide to trust someone enough to go home with them soon,” she said.
If anyone has any information about the roadside dog, email us your contact information at news@northescambia.com and we will put you in touch with Hughes.
Pictured: A dog waits by the roadside near Flomaton. Submitted photos for NorthEscambia.com, click to enlarge.
ECUA Turns Down $7.6 Million Offer For Former Sewage Plant
June 28, 2013
The Emerald Coast Utilities Authority board has turned down a $7.6 million offer for a 19-acre property in downtown Pensacola that was the location of the utility’s wastewater treatement plant.
HT Land Company made the offer, but the ECUA board turned it down Thursday afternoon on a 3-2 vote. Board member Larry Walker, Louis Benson and Vicki Campbell voted not to accept the offer and instead market it through a broker. Dale Perkins and Elvin McCorvey voted to approve the $7.6 million sale.
There’s no word on how long it might take to hire a real estate marketing firm to help with the sale.
The former downtown ECUA Main Street Wastewater Treatment Plant, dubbed “Old Stinky” was originally designed and constructed in 1937. The 19-acre downtown site underwent numerous expansions in the 1970s and mid-1990s before it was officially taken off-line in April 2011. It was replaced by the Central Water Reclamation Facility in Cantonment.
Escambia Man Arrested On 36 Child Porn Counts
June 28, 2013
An Escambia County man was arrested Thursday afternoon on child pornography charges after investigators determined he had downloaded sexually explicit pictures and movies of children from the internet onto his cell phone, iPad and external computer hard drives.
Jairo Scott Domanski, 30, was charged with 36 counts of possession of obscene material/child pornography. He was booked into the Escambia County Jail on a $108,000 bond.
Agents with the North Florida Internet Crimes Against Children Task Force initiated a search warrant at Domanski’s residence on Tuesday after he was identified via the internet as
downloading child pornography.
Additional charges are pending, and the investigation is continuing to determine if he transmitted files and/or downloaded additional child pornography, police said.
Task force members from the Officer of Homeland Security assisted the Pensacola Police Department with the investigation.
Night Of Music And Comedy To Benefit Cpl. J.R. Spears Memorial Scholarhip Fund
June 28, 2013
The Cpl. J.R. Spears Memorial Scholarship Fund will present a night of music and comedy Saturday at Tate High School featuring Grand Ole Opry Comedian T. Bubba Bechtol. Special guest will be entertainer and 2010 Tate High School graduate Leslie Ann Godwin.
Doors open at 6:30 Saturday night; the show begins at 7:00. Admission is $10, with all proceeds going toward the Cpl. J.R. Spears Memorial Scholarship Fund at Pensacola State College. Concessions will be on sale during the show.
After the show, birthday cake will be served to celebrate Spears’ birthday, which is Sunday.
For tickets, call Tim at (850) 324-9907. Tickets will also be sold at the door.
Tate Grad Hoffman Signs Golf Scholarship With Faulkner
June 28, 2013
Tate High School 2013 graduate Jared Hoffman has signed a scholarship to play golf at Faulkner University in Montgomery. Hoffman is pictured with Athletic Director David Venettozzi. Submitted photo for NorthEscambia.com, click to enlarge.
Scott Signs Virtual Education Bill
June 28, 2013
Gov. Rick Scott on Thursday signed a virtual education bill meant to spur some kinds of online courses. The measure (HB 7029) aims to encourage the use of massive open online courses, known as MOOCs, in Florida schools. Out-of-state companies would be able to provide the courses under the change, and “blended” courses that include some online instruction and some classroom time would be exempt from class-size requirements.
Supporters of the bill said it will help Florida adapt its education system to take advantage of new technology. But opponents criticized the measure for allowing out-of-state providers to qualify for the programs.
The bill was one of four signed Thursday by Scott.
Others included a transportation measure (HB 85) that allows the use of public-private partnerships for county road projects and extends the terms for leases that the Orlando-Orange County Expressway Authority may enter into from 40 years to 99 years. Another bill (SB 1784) allows the Military Base Protection Program to secure non-conservation lands to serve as added buffers to protect military installations.
Deputies Search For Shooter
June 28, 2013
The Escambia County Sheriff’s Office is seeking information about a shots fired incident that occurred Wednesday afternoon at a convenience store in the 2900 block of West Jackson Street.
Deputies made contact with witnesses who said two black males got into a scuffle before one pulled a gun and fired at the other. Surveillance video captured an image of the individual who investigators believe is the shooter inside of the store, as well as the suspected shooter’s vehicle outside of the store.