Page 1

CITY OF DEMOGRAPHIC LAKELAND GUIDE 2013 POPULATION WORKFORCE DEVELOPMENT INDUSTRY SECTORS MAJOR EMPLOYERS WAGES & INCOME TAXES EDUCATION HOUSING ECONOMIC INCENTIVES & REDEVELOPMENT CONSTRUCTION & DEVELOPMENT

Community Development


Built upon historic character, philanthropy and volunteerism, Lakeland offers its residents, businesses and visitors a true sense of place. Incorporated in 1885, Lakeland quickly became one of the premier cities in Florida. From the inaugural railroad service in the mid-1890’s to being one of the first cities in Florida to have electricity, Lakeland has always been a hub of innovation and progressive ideas. Today, the City continues to thrive as population and business expansions are attracted to this area, the geographic center of Florida. Lakeland’s economic base consists of warehouse, transportation and distribution, education, health care, manufacturing and retail. Lakeland has received the distinction of being on Money Magazine’s “Best Place to Live in America” list. In addition, Lakeland is home to Publix Supermarkets, Florida Southern College, which hosts the largest one-site collection of Frank Lloyd Wright architecture, and is the winter home to the Detroit Tigers. The City of Lakeland offers an exceptional quality of life. A firm commitment to downtown development, redevelopment, historic preservation, cultural amenities, and a exceptional business-friendly environment has helped Lakeland to thrive for 125 years. Growth and progress exemplify our City all the while maintaining a sense of history and a hometown feel.

• Over 8.6 million people within a 100-mile radius • 32 miles from Tampa • 54 miles from Orlando • Midway between Key West and the Georgia state line • Two International airports within an hour’s drive • Located on Interstate 4 in the middle of Florida’s High Tech Corridor. • Located in Polk County, the eighth largest County in the state. • Polk County boasts over 550 lakes and 90 minute drives to beaches on both coasts. • The Central Florida Development Council estimates that 1.5 million tourists visit Polk County each year.


TABLE OF CONTENTS ECONOMIC & DEMOGRAPHIC SNAPSHOT POPULATION WORKFORCE DEVELOPMENT INDUSTRY SECTORS MAJOR EMPLOYERS WAGES & INCOME TAXES EDUCATION ECONOMIC INCENTIVES & REDEVELOPMENT HOUSING CONSTRUCTION & DEVELOPMENT

ranked

4 5 7 8 9 10 11 13 14 16 17

6TH

RIDA O L F N I Y T I BESTbyCStreetAdvisor.com

When you want to be in the center of things.. LAKELAND IS THE PLACE TO BE. 3


ECONOMIC & DEMOGRAPHIC SNAPSHOT POPULATION

State of Florida (2012)

19,074,434 262,288 616,158 Lakeland Electric Service Area (2012)

City of Lakeland (2012)

Polk County (2012)

98,200

CITY OF LAKELAND

Total Number of Households (2013 Est.) 41,488 Average Household Income (2013 Est.) $47,113 Median Household Income (2013 Est.) $33,850 Lakeland Labor Force (2012) 43,480 Employed (2012) 39,535 Unemployed (2012) 3,945 Lakeland Unemployment (2012) 9.10% Lakeland Private Employment (2012) 37,814 Average Home Sales Price (2012) $118,185 Single Family Permits (2012) 73 Multi-Family Permits (2012) 134 Warehouse/Industrial Square Feet Permitted (2012) 192,409 Commercial/Office Square Feet Permitted (2012) 61,996 Retail Square Feet Permitted (2012) 132,887

Sources: University of Florida Bureau of Economic & Business Research (BEBR) | Bureau of Labor & Statistics (BLS) | Claritas Market Place 2012 Lakeland Economic Development Council (LEDC) | Mid Florida Regional MLS | Florida Agency for Workforce Innovation (AWI)

4


POPULATION CITY OF LAKELAND

HISTORICAL SIZE & POPULATION Year Population 1960 41,350 1970 42,803 1980 47,406 1990 70,576 1995 74,626 2000 78,452 2001 82,942 2002 87,150 2003 88,741 2004 89,731 2005 90,851 2006 91,623 2007 93,428 2008 93,508 2009 94,163 2010 97,422 2011 97,690 2012 98,200

Sq. Miles 16.78 17.17 20.59 44.23 50.55 51.91 54.15 67.54 67.60 69.94 71.38 72.17 73.41 74.33 74.40 74.48 74.62 74.75

POLK COUNTY & FLORIDA

City of Lakeland (2012)

98,200 616,158 19,074,434

POPULATION

Year Polk County 1960 195,139 1970 228,515 1980 321,652 1990 405,382 1995 443,153 2000 483,924 2001 496,112 2002 502,385 2003 511,929 2004 528,389 2005 535,800 2006 564,868 2007 581,058 2008 585,733 2009 584,383 2010 602,095 2011 604,792 2012 616,158 Lakeland Population by Age

Polk County (2012)

State of Florida (2012)

1990

POPULATION BY AGE 1990 2000 2010

2000

Florida 4,951,560 6,791,961 9,746,961 12,938,071 14,336,202 15,982,378 16,331,739 16,674,608 17,071,508 17,561,732 17,918,227 18,349,132 18,680,367 18,807,219 18,748,925 18,801,310 18,905,048 19,074,434

2010

16000 14000 12000 10000 8000 6000 4000 2000 0

Under 5

5 to 14

15 to 24

25 to 34

Percentage 72.70% 19.40% 2.10% 0.30% 3.60% 1.90% 13.10%

45 to 54

55 to 64

65 to 74

75 to 84

85+

LAKELAND HAS SEEN AN

POPULATION BY RACE Race White or Caucasian Black or African American Asian Native American Other Two or more races Histanic or Latino

35 to 44

85% INCREASE

POPULATION BY SEX Sex Male Female

% 46.9 % 53.1 %

5

IN THE POPULATION OF RESIDENTS AGED 45-54 FROM 1990 TO 2010. Source: U.S. Census Bureau


POPULATION FLORIDA’S TOP 25 INCORPORATED 2012

METRO & NON-METRO POPULATION 2012

City Population Jacksonville 813,518 Miami 433,143 Tampa 343,879 St. Petersburg 244,318 Orlando 235,876 Hialeah 218,901 Ft. Lauderdale 184,906 Tallahassee 172,576 Port St. Lucie 154,399 Cape Coral 154,209 Pembroke Pines 146,625 Hollywood 142,615 Coral Springs 126,507 Gainesville 116,615 Miami Gardens 109,336 Miramar 109,165 Clearwater 106,064 Brandon 103,483 Pompano Beach 102,609 Palm Bay 101,007 West Palm Beach 99,506 Spring Hill 98,621 Lakeland 98,200 Davie 91,992 Miami Beach 87,773

Metropolitan Statistical Area Miami/Ft Lauderdale/Miami Beach Tampa/St. Petersburg/Clearwater Orlando/Kissimmee Jacksonville Sarasota/Bradenton/Venice Beach Cape Coral/Fort Myers Lakeland Melbourne/Titusville/Palm Bay Daytona Beach/Ormond Beach Pensacola Fort Pierce/Port St. Lucie Tallahassee Ocala Naples, Marco Island Gainesville Fort Walton Beach Panama City Punta Gorda Sebastian/Vero Beach Homasassa Springs The Villages Sebring Total All MSA’s Total Non-Metro Total Florida

Source: University of Florida BEBR 2012

6

Population 5,657,804 2,818,165 2,184,588 1,358,554 713,966 638,029 606,888 545,625 594,305 454,901 427,558 370,425 332,989 329,849 263,176 244,245 185,229 163,357 139,446 140,761 100,198 98,955 18,369,623 704,811 19,074,434


WORKFORCE DEVELOPMENT CITY OF LAKELAND Recent Job Growth Future Job Growth Unemployment Rate Sales Taxes Income Taxes Median Household Income Per Capita Buying Income

Lakeland AANNUAL nnual  LLABOR abor  Force   LAKELAND FORCE

44000 42000  

-1.87% 25.26% 9.10% 7.00% 0.00% $33,850 $22,393

40000 38000   36000  

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

ECONOMIC DEVELOPMENT ACTIVITY 1992-2012 Year Projects 1992 31 1993 30 1994 19 1995 32 1996 25 1997 18 1998 22 1999 20 2000 25 2001 27 2002 23 2003 20 2004 26 2005 23 2006 30 2007 29 2008 16 2009 14 2010 20 2011 17 2012 17

Lakeland's AUNEMPLOYMENT verage  Unemployment   Rate   LAKELAND AVERAGE RATE 12.0%   11.0%   10.0%   9.0%   8.0%   7.0%   6.0%   5.0%   4.0%   3.0%  

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

Lakeland Unemployment   By  Month   2012 LAKELAND2012   UNEMPLOYMENT BY MONTH 10.5%   10.0%   9.5%   9.0%   8.5%   8.0%   7.5%  

J

F

M

A

M

J

J

A

S

O

N

D

Jobs Square Feet 461 1,353,750 1,228 1,686,050 1,267 1,208,000 602 1,290,400 690 1,057,100 730 1,110,000 1,093 1,552,500 3,295 1,676,000 533 1,861,000 1,705 1,692,450 1,505 1,431,517 768 770,968 1,300 1,269,673 1,110 1,640,489 609 1,309,512 734 1,057,892 1,247 1,827,878 1,468 434,006 401 691,833 212 630,220 1,092 1,464,786

Est. Capital Investment $18,107,750 $59,600,000 $116,080,000 $36,770,000 $63,350,000 $20,900,000 $94,075,000 $79,250,000 $109,700,000 $75,400,000 $38,260,850 $15,364,555 $33,805,000 $29,932,600 $38,115,337 $44,083,425 $180,350,000 $70,671,672 $35,714,000 $13,007,000 $123,250,000

Source:Lakeland Economic Development Council (LEDC)

“Where The Jobs Will Be In 2013” In December of 2012, Forbes Magazine listed the Lakeland MSA in the top 15 areas in the nation for job growth in 2013. The national employment survey completed by the Manpower Group states that the Lakeland MSA is estimated to increase job growth by 14%. 7


INDUSTRY SECTORS Lakeland MSA – Total Nonagricultural Employment (January 2013) Goods Producing 24,600 12.7% Construction, Mining & Natural Resources 10,000 5.2% Manufacturing 14,600 7.5% Service Providing 169,200 87.3% Wholesale Trade 9,300 4.8% Retail Trade 24,700 12.7% Transportation, Warehousing & Utilities 13,600 7.0% Information 1,600 0.8% Financial Activities 11,400 5.9% Professional & Business Services 25,100 12.9% Education & Health Services 29,300 15.2% Leisure & Hospitality 18,800 9.7% Other Services 6,000 3.1% Government 29,400 15.2%

15%

5%

10%

13%

13%

25000 20000 15000 10000 5000 3

4

5

6

1990 Industry Sector

7

8

6%

1%

Source: Florida Agency for Workforce Innovation

30000

2

7%

15%

35000

1

7%

3%

Sector Comparison INDUSTRY SECTIONIndustry COMPARISON 1990 2012

0

5%

9

10

2011 Industry Sector

11

12

13

1. Construction, Mining & Natural Resources 2. Manufacturing 3. Wholesale Trade 4. Retail Trade 5. Transportation Warehouse & Utilities 6. Information 7. Financial Activities 8. Prof. & Business Services 9. Education & Health Services 10. Leisure & Hospitality 11. Other Services Source: 2012 U.S. Bureau of Labor 12. Government

Florida’s High Tech Corridor, running along I-4 throughout Central Florida ranked 4th in Bright Labs survey analyzing job postings from Monster and Career Builder in the 10 biggest tech hot spots in the U.S.

8


MAJOR EMPLOYERS Employer Business Number of Jobs Publix Super Markets, Inc Supermarkets (stores & warehouse) 6,644 Lakeland Regional Medical Center Hospital 4,540 GEICO Insurance 2,018 Watson Clinic Medical Clinic 1,500 Sykes Teleservices 1,200 GC Services Teleservices 1,000 Rooms To Go Furniture Distributor 900 Summit Consulting Insurance 654 Saddle Creek Corporation Trucking & Logistics 625 Stryker Healthcare 600 Manufacturing Publix Super Markets, Inc. Deli, Dairy & Bakery 1,419 Key Safety Systems Air Bag Manufacturing 580 McDonald Construction Corp. Construction 400 Country Hearth Bread Bakery 340 Pepperidge Farm Bakery 313 The Ledger Publishing Company Newspaper 284 Tampa Maid Foods Shrimp Processing 260 Carpenter Company Insulation 235 JBT FoodTech Citrus Processing Machinery 190 Keymark Aluminum Extrusions 175 Government City of Lakeland Government 2,600

In 2012 Tampa-based Sykes Enterprises announced that they would be bringing more than 600 new jobs to Lakeland as they occupied the former 92,000 square foot FedEx National LTL office facility located on Griffin Road. 9


WAGES & INCOME

$36,660 2012 AVERAGE ANNUAL WAGE

2012 AVERAGE ANNUAL WAGE BY INDUSTRY

2003 $30,277 2004 $31,387 2005 $31,928 2006 $33,592 Average Annual   Wage   2007 $35,568

2008 $36,920 2009 $37,356 2010 $37,939 2011 $37,185 2012 $36,660

40,000 35,000   30,000   25,000   20,000  

2003

2004

2005

2006

2007

2008

2009

2010

2011

PER CAPITA PERSONAL INCOME Year Lakeland Florida 2002 $25,106 $30,462 2003 $26,004 $31,242 2004 $27,965 $33,463 2005 $29,833 $35,498 2006 $31,090 $37,996 2007 $31,838 $39,256 2008 $32,433 $39,958 2009 $31,511 $37,387 2010 $31,998 $38,222 2011 $33,447 $39,636

Source: Bureau of Economic Analysis (BEA) Per Capita Income by MSA

2012

Industry

Annual Wage

Public Administration

$40,300

Agriculture, Forestry & Fishing

$29,380

Construction

$37,596

Manufacturing

$47,112

Wholesale Trade

$51,012

Retail Trade

$25,636

Transportation & Warehousing

$39,884

Utilities

$71,396

Information

$45,520

Finance & Insurance

$46,800

Real Estate & Rental Leasing

$31,304

Professional, Scientific Services

$46,332

Management of Enterprises

$60,268

Administration & Waste Services

$26,052

Educational Services

$36,192

Healthcare & Social Services

$41,704

Arts & Entertainment & Recreation

$29,900

Accommodations & Food Services

$14,716

Other Services

$30,992

Source: Florida Research & Economic Database 2012

The U.S. Department of Labor Bureau of Labor and Statistics showed a 5.78 % increase in employment growth and a 2.91 % increase in wage growth for STEM jobs in Lakeland MSA for 2012.

10


TAX INFORMATION General Information The tax laws in Florida are advantageous both to industry and to individuals. There is no state personal income tax, no state ad valorem tax on real or tangible personal property, no inventory tax and no inheritance tax. This is indicative of Florida’s favorable tax climate – which is lower than most other southeastern states. Ad valorem rates in Lakeland and Polk County compare favorably with taxes in any other section of the United States. The City of Lakeland has one of the lowest operating millages in the state at 4.6644. State Sales Tax Florida has a 6% state sales tax. Exemptions include food and drugs, machinery and equipment for new businesses, and research and development equipment manufactured and used by a firm doing the research and development. Lakeland/Polk County has an additional 1% local sales tax as of January 2005. Corporate Income Tax Florida corporate income tax liability is computed using federal taxable income, modified by certain Florida adjustments, to determine adjusted federal income. A corporation doing business within Florida may apportion its total income. Adjusted federal income is apportioned to Florida using a three-factor formula. The formula is a weighted average, designating 25 percent each to factors for property and payroll, and 50 percent to sales. Non-business income allocated to Florida is added to the Florida portion of adjusted federal income. An exemption of up to $5,000 is subtracted to arrive at Florida net income. Tax is computed by multiplying Florida net income by 5.5 percent. Communications Tax Businesses providing communications services are required to register to collect and remit communications services tax. Communications services include telecommunications, cable, directto-home satellite, and related services. This definition encompasses voice, data, audio, video, or any other information or signals, including cable services that are transmitted by any medium. Homestead Exemption On January 29, 2008 Florida voters approved an amendment to the Constitution allowing for a statewide reform of Florida’s existing Homestead Exemption criteria. This reform, designed by the Florida Legislature to provide property tax relief to homestead-exempted homeowners, owners of second homes, rental property owners and business owners provides four significant changes to the previous exemption. Expanded Homestead Exemption: Increase the current $25,000 Homestead Exemption by an additional $25,000 except on school board taxes. Portability: Allows Homeowners to transfer up to $500,000 of their Save Our Homes Assessment Limitation benefit to the new homestead. Cap on Non-Homestead Property: The assessed value for all other properties without a homestead exemption will be limited to a maximum of 10% a year. Tangible Personal Property Exemption: Businesses will be eligible for a $25,000 exemption on equipment such as computers, office furniture and fixtures.

11

Florida ranks 5th in the National Tax Foundation’s State Business Tax Climate Index for 2013


TAX INFORMATION Countywide 2012 Millage Rates

Polk County 6.8665 School Board 7.492 *Parks MSTU 0.4219 *Library MSTU 0.2109 Auburndale 4.2657 Bartow 3.9962 Davenport 7.75 Dundee 7.6495 Eagle Lake 7.6516 Fort Meade 5.6484 Frostproof 7.8209 Haines City 7.99 Highland Park 9.9759 Hillcrest Heights 0.3075 Lake Alfred 7.589 Lake Hamilton 8.2117 Lakeland 4.6644 Lake Wales 8.5119 Mulberry 8.9 Polk City 8.6547 Winter Haven 5.79

Statewide 2012 Operating Millage Rates Bradenton 5.4356 Clearwater 5.155 Daytona Beach 6.5734 Ft. Myers 8.776 Ft. Lauderdale 4.1193 Gainesville 4.4946 Hollywood 7.4479 Kissimmee 4.6253 Lakeland 4.6644 Miami 7.571 Orlando 5.65 Pensacola 4.2895 Plant City 4.7157 Sarasota 3.3525 St. Petersburg 6.7742 Tallahassee 3.7 Tampa 5.7326 West Palm Beach 7.1 Winter Haven 5.79

*MSTU's are paid by all residential taxpayers of unincorporated Polk County

TAX SUMMARY Corporate Income Tax

5.50%

Sales Tax 7.00% Gross Receipt Tax

2.37%

Unemployment Tax (varies) 2.70% Communication Services Tax 7.03% Intangible Tax - 1 mill per $1000 of accessed valuation

12


EDUCATION

Public School Graduation Rates

School

2012/11 2011/10 2010/09 2009/08 2007/08 2007/06 2006/05 2005/04

Harrison Lakeland George Jenkins McKeel Academy Lake Gibson Kathleen PCC Collegiate Tenoroc Lakeland MSA Polk County Florida

100.00% 100.00% 100.00% 100.00% 100.00% 98.50% 100.00% 100.00% 83.30% 87.50% 87.27% 84.50% 88.70% 82.00% 81.60% 89.80% 88.70% 87.50% 90.63% 86.20% 87.70% 90.80% 88.80% 88.40% 94.60% 95.10% 93.26% 96.20% 100.00% 97.20% 99.00% 93.30% 76.90% 79.20% 86.40% 82.30% 83.90% 71.60% 82.40% 81.50% 66.70% 69.50% 72.51% 70.00% 71.70% 75.10% 76.80% 71.10% 100.00% 98.20% 96.85% 98.80% 97.60% 98.00% 100.00% 98.00% 66.00% 71.60% 73.90% N/A N/A N/A N/A N/A 82.65% 83.87% 86.38% 82.70% 86.00% 83.17% 85.50% 84.90% 67.60% 73.90% 73.24% 71.60% 73.60% 68.80% 70.50% 71.60% 74.50% 80.10% 79.00% 78.60% 75.40% 71.00% 71.90% 71.60%

EDUCATIONAL ATTAINMENT IN LAKELAND

Florida Southern College and Southeastern University were ranked #4 and #49 respectively in the 2013 U.S. News and World Report regional ranking for Colleges in the south.

Population Age 25+ High school graduate Some College, no degree Associates degree Bachelor's degree Graduate or professional degree

Estimate 23,108 13,366 5,458 10,283 5,394

% 34.6% 20.0% 8.2% 15.4% 8.1%

SECONDARY & POST-SECONDARY EDUCATION ENROLLMENT

Public/Private Colleges and Universities Estimated Enrollment Southeastern University 3,069 Florida Southern College 2,429 University of South Florida 4,229 Webster University 200 Polk State College (All Campuses) 17,116 Polk State College (Lakeland Campus) 8,264 Proprietary Colleges and Universities Everest University 845 Keiser University 1,079 Trade and Technical Schools Florida Career Institute 155 Travis Technical Center 1,200

13


ECONOMIC INCENTIVES & REDEVELOPMENT GRIFFIN ROAD

LAKE WIRE

W .M AIN T. S

LAKE HUNTER

ARIANA STRE ET

LAKEPARKER

LAKE MO RTON

GARY R D. S E.M AIN T. LA KE

HOLLINGSWORTH

SIKE SLVBD .

T.S LEMON

T. S W . LIME

ORANGE S T. INGRAHAM AVE.

LAKE E. BEULAH

LAKE MIRROR

LAKEPARKERAVE.

14

E ER DRIV LAKEPARK

For more detailed information about these incentives visit the City’s website at www.lakelandgov.net or Enterprise Florida at www.floridaenterprisezones.com.

BELLA VIS TA

E. MEMORIALLVD. B

SUCCESSAVE.

Community Contributions Tax Credit Program Allows businesses a 50% credit on Florida corporate income tax, insurance premium tax, or sales tax refund for donations made to local community development projects. Businesses are not required to be located in the Enterprise Zone to be eligible for this credit.

ARIANA STRE ET

S. LORI F DA AVENUE

Sales Tax Refund for Business Machinery and Equipment A refund is available for sales taxes paid on the purchase of certain business property, which is used exclusively in the Enterprise Zone for at least 3 years. This incentive refunds up to $5,000 of the sales tax paid for purchases of at least $5,000 for machinery and equipment used in the Enterprise Zone.

B LVD. KINS GEORGE JEN

LAKELAND HILLS LVD. B

Sales Tax Refund for Building Materials A refund is available for sales taxes paid on the purchase of building materials used to rehabilitate real property located in the Enterprise Zone. Both businesses and residents are eligible for this incentive that refunds up to $5,000 of the sales tax paid for building materials. Limit one refund per parcel of property.

LAKE BONN ET

W ABASH AVENUE

Enterprise Zone Property Tax Credit (Corporate Income Tax) New or expanded businesses located within the Enterprise Zone are allowed a credit against Florida corporate income tax equal to 96% of ad valorem taxes paid on the new or improved property.

W . MEMORIALLVD. B

M ARTINLUTHER KING JR. LVD.B

W ABASH AVENUE

Enterprise Zone Jobs Tax Credit (Sales and Use Tax) Allows a business located within the Enterprise Zone to take a sales and use tax credit for 20 percent of wages paid to new employees who reside within the Enterprise Zone. A business must create at least one new job to be eligible.

LINCOLN AVENUE

FINANCIAL INCENTIVES OFFERED IN LAKELAND’S ENTERPRISE ZONE

AD

PROVIDENCEROAD

KA TH LE EN RO

1OTH S T.

Enterprise Zone Jobs Tax Credit (Corporate Income Tax) Allows a business located within the Enterprise Zone to take a corporate income tax credit for 20 percent of wages paid to new employees who reside within the Enterprise Zone. A business must create at least one new job to be eligible.

N. LORI F DA AVENUE

Florida’s Enterprise Zone Program was created to provide the necessary means to assist local communities, their residents, and the private sector in creating greater economic activity in distressed areas and to provide jobs for residents of such areas. An Enterprise Zone is a specific geographic area targeted for economic revitalization. Designed to encourage economic growth and investments in the City’s urban core, the program offers tax advantages and incentives to businesses and property owners located within the Enterprise Zone.

LAKE HOLLINGSWORTH

Additional Economic Development Incentives Qualified Industry Tax Refund Program (QTI) Quick Response Training Program (QRT) Economic Development Transportation Fund (Road Fund) Economic Development Impact Fee Mitigation (EDIFM) Incumbent Worker Training Program (IWT) Urban Job Tax Credit Polk County Economic Development Ad Valorem Tax Exemption Program

BO NY


REDEVELOPMENT & ECONOMIC INCENTIVES Lakeland Community Redevelopment Agency The City of Lakeland is on a course of constant change and improvement. Many of the major changes occurring within the “core” of our city are as a direct result of activities of the Lakeland Community Redevelopment Agency (CRA). The CRA works in concert with the City of Lakeland to rebuild and revitalize many of our more challenged neighborhoods. The goal of the CRA is to continue to build and strengthen the heart of our city by providing the appropriate infrastructure and incentives for new and renewed property investment. Overview The City of Lakeland has four CRA target areas, or CRA districts. They are Downtown which was established in 1977, Dixieland and Mid Town which were created in 2001, and Williams which was created in 2002. Each of these areas are dependent taxing districts established by the local government for the purpose of carrying out redevelopment activities that include reducing or eliminating blight, improving the tax base, and encouraging public and private investments in the CRA. Organization The City Commission is the official Community Redevelopment Agency for Lakeland and each specific redevelopment area operates under the leadership of an Advisory Board.

HI

LL

RD

E LAKE PARKER DR

Y

CR 582 (GRIFFIN RD)

TENTH ST

TH EN RD

N FLORIDA AV

MEMORIAL BLVD

15

PALMETTO ST

MCDONALD ST

LAKE BONNY

ARIANA ST HARDEN BLVD

Dixieland CRA

MISSOURI AV

WABASH AV S WABASH AV

Downtown CRA

VD BL

LIME ST

LAKE MO RTON

LAKE HOLLIN GSWO RTH

BEACON RD

98

Midtown CRA

LAKE HUNTER

ST

US

S KE SI

E MAIN ST

ORANGE ST

LIME

HOLLINGSWORTH RD

Please visit www.ldda.org and www.lakelandcra.net for additional information.

RD

W HIGHLAND ST / GREENWOOD ST

OW

LAKE BEULAH

OLIVE ST

GARY RD

LAKE MIRROR

IN ST W MA

S BLVD JENKIN

RT

GEORGE

LAKE WIRE

BA

LAKE BONNET

PARKER ST

NEW JERSEY RD

N WABASH AV

LE FIFTH ST

LAKE PARKER

LAKE PARKER AV

W TENTH ST

BELLA VISTA ST

INGRAHAM AV

BELLA VISTA ST

GRANADA ST

MASSACHUSETTS AV

RD

SOUTH BLVD

EN

PROVIDENCE RD

LE

MASSACHUSETTS AV

TH

RD

FLORIDA AV

LL MA

MARTIN LUTHER KING BLVD

KA

LL HI

(LAKELAND HILLS BLVD)

N FLORIDA AV

ROBSON ST

KA

Mid Town Downtown Dixieland

EP

R L D HIL

CRA projects are funded by “tax increment financing”which works as follows: the value of real property in a redevelopment area is determined on a fixed date; as the value of the real property appreciates, the tax revenue on the appreciated portion of the value (the increment) is set aside for CRA projects; the City and County continue to collect the tax revenue on the original real property value. Most programs are designed to leverage tax increment by encouraging private developers to invest in CRA districts.

E SL

L MAL

Projects and Funding CRA projects must serve a public purpose and must address concerns raised in the adopted redevelopment plans for each area. Possible CRA programs include street and streetscape improvements, park improvements, development of infill housing, recruitment of new businesses and partnership with job-training and placement services.

SYLVESTER RD


HOUSING HOUSING IN LAKELAND Median Home Age Average Sales Price Home Appreication Home Ownership Rate Renter Occupied Homeowner Vacancy Rate Renter Vacany Rate Average Monthly Rent Millage Rate

35 $118,185 0.33% 56.80% 43.20% 4.10% 11.90% $770 4.6644

EXISTING HOME SALES IN LAKELAND Year Units Average Price 2003 2883 $119,162 2004 2938 $133,440 2005 3676 $175,224 2006 3371 $196,290 2007 2233 $192,842 2008 1857 $160,372 2009 2357 $126,568 2010 2421 $115,075 2011 2456 $106,090 2012 2817 $118,185

Housing Sales   HOUSING SALESin  INLakeland   LAKELAND

4000 3500   3000   2500   2000   1500   1000   500   0  

Business Insider online selected Lakeland 2nd on its list of the nation’s 15 best housing markets for the next five years with a projected 10.2 % annual growth rate for home prices from 2012-2017.

2003 2004   2005   2006   2007   2008   2009   2010   2011   2012  

HOUSING PRICES IN LAKELAND Housing Prices in Lakeland

$250,000 $200,000 $150,000 $100,000 $50,000 $0

16

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012


CONSTRUCTION & DEVELOPMENT SINGLE FAMILY PERMITS

RESIDENTIAL CONSTRUCTION UNITS Residential Construction Units

1400

Year Permits Permit Valuation 2003 257 $34,200,806 2004 380 $49,241,780 2005 544 $179,996,957 2006 544 $99,101,767 2007 458 $107,385,621 2008 252 $55,438,488 2009 144 $29,771,733 2010 142 $30,467,000 2011 115 $25,139,223 2012 73 $15,959,510

1200 1000 800 600 400 200 0

2003

2004

2005

2006

2007

SINGLE FAMILY Series1

2008

2009

2010

2011

2012

MULTI-FAMILY

Series2

COMMERCIAL/INDUSTRIAL SQUARE FOOT PERMITTED

Year Warehouse/Industrial Commercial Office Commercial Retail 2003 139,373 113,486 155,607 2004 1,537,656 122,057 543,717 2005 456,816 81,231 447,596 2006 1,047,852 190,472 443,846 2007 926,792 92,825 324,051 2008 24,446 103,447 97,557 2009 76,000 101,517 3,215 2010 103,482 81,857 18,046 2011 890,718 11,522 50,031 2012 192,409 61,996 132,887

TOTAL PERMIT VALUATION Total Permit Valuation

$600,000,000 $500,000,000 $400,000,000 $300,000,000 $200,000,000 $100,000,000 $0

2003

2004

2005

2006

2007

2008

2009

17

2010

2011

2012

Lakeland Ranked 8TH on Realtor.com’s List of Top 25 Turnaround Towns in the U.S. in the 4TH Quarter of 2012.

Demographic Guide for the City of Lakeland  

Check out the latest demographic information for the City of Lakeland

Read more
Read more
Similar to
Popular now
Just for you