100 COMPUTERS PURCHASED FOR PUBLIC USE BY NEW BOCA LIBRARY

With construction back on track and completion expected by the end of the year, there will be 65,000 books and 7,000 other media (DVD’s and CD’s). Computers will be purchased and there will be 2 computer labs, one for children and the other for adults. Another new library is planned on a parcel of land just north of the existing downtown facility at 100 NW Second Avenue.

UPDATE FROM FLORIDA LEGISLATURE

PROPERTY TAX – “where it is” on 5-4-07

The Florida Legislature suspended negotiations on Save Our Homes portability, rollbacks and other property tax reform proposals until next month when lawmakers return to Tallahassee for a 10-day special session from June 12-June 22. Both sides have already agreed on two FAR-supported tax relief measures - $25,000 exemption on personal intangible property for small businesses and some form of Save Our Homes portability (terms not released). Sources say that so far there is agreement on cutting property taxes by about $20-$25-billion over 5 years; no sales tax increase; some form of Save our Homes portability.

To write your legislator send an email to http://floridarealtors.org - see Legislative Center.

Legislators made it easier for certain property owners to get insurance from Citizens which is now Florida’s largest insurer with 1.3 million policyholders. Property owners will be allowed into the Citizens pool if the only insurance they could obtain on the private market was 15% more expensive than what they would pay Citizens. Citizens rates would freeze through 2008. On Jan 1, 2009, Citizens would again be allowed to raise rates.

Homes valued at over $750,000 and located in high-risk zones will be required to install opening protections as of July 1, 2008 if they seek a building permit for work estimated at $50,000 or more. By 1/1/2009, all homes valued at over $750,000 in high-risk zones must be fitted wit opening protections to remain eligible for Citizens coverage. This is to help reduce some of the risk in the event of a devastating storm. Free inspections of 400,000 single-family homes is called for and grants and loan are provided to certain homeowners to make improvements to strengthen their home against storms.

Home inspectors, mold remediators and mold assessors will be required to be licensed by the Dept. of Business and Professional Regulation as of July 1, 2010 IF SIGNED BY THE GOVERNOR.

Landlords are limited to a financial penalty when a tenant breaks a lease of two months of rent for leases of less than a year. Effective at once IF THE GOVERNOR SIGNS IT.

Mortgage brokers and lenders will now have many disclosure and education requirements to help protect consumers during the mortgage loan application process. This bill includes additional enforcement and investigative tools for prosecuting mortgage fraud. The definition of “primary title services” and “related title services” will be amended and a civil court case codified that permits a portion of a title insurance premium to be rebated IF SIGNED BY THE GOVERNOR.

FLORIDA HOUSE & SENATE VOTE TO DIVEST FL STATE PENSION FUND OF IRAN AND SUDAN PETROLEUM ENERGY INVESTMENTS

Florida has the 4^th largest pension fund in the US and is now the first state in the nation to legislate divestment of its pension fund holdings from Iran as well as from the government of Sudan. House Bill (HB) 703 and Senate Bill (SB) 2142 calls for the State Board of Administration and the Board of Trustees to leverage the approximately $150-billion in Florida’s pension fund by ending investment in companies doing business with the petroleum energy sector in Iran and the government of Sudan.

Governor Charlie Christ is expected to sign it into law, requiring review of holdings in companies invested in Iran’s energy sector or in companies with business ties to the government of Sudan and to divest these holdings with review as well of holdings in mutual and index funds or other commingled investments, and identify ways to create alternative funds without holdings in these companies. A quarterly compliance report of all state pension holdings and actions taken will be required to be submitted to the state legislature.

Senator Ted Deutch said, “Our colleagues here understood that Florida has the opportunity to bring all 50 states onboard to stop genocide and prevent terror.” He further said, “Not one Florida worker’s dollar should fund either Iran’s quest for nuclear weapons which will be trained on our nation and our troops, or the genocide of a people trapped in the turmoil of the Sudan.” House Deputy Majority Leader Adam Hausner said, “We cannot invest Floridians’ pension funds in companies that are propping up countries that support terrorist… Florida is sending more than a message – this will lead a nationwide effort.”