Thursday, May 5, 2016

DOT update for traffic light at communities' entrances and US41/Tamiami Trl

MAY 5, 2016 — A response has been received about the status of a traffic light...I will copy and paste email below for your review:

[Begin email insert]
From: King, Tanya
Received: May 5, 2016, 8:52am
Subject: RE: Request for Traffic Light Approval at US41 and Corradino/Galleria
To: Ali Johnston Cc: Hattaway, Billy; Hollingsworth, Lora; May, JoAnn A; Blanchard, Brian; Tillander, Trey; Nandam, L. K.; Slater, Keith 

Good morning Mr. Johnston,

A traffic study has been received and reviewed by the department with regards to the US 41 at Corradino Boulevard intersection. The intersection did meet warrants for a signal. However, it is the department’s policy that anytime there is a change in traffic control, i.e. a signal warranted at an intersection, the intersection has to be analyzed as a roundabout to determine the best control for this intersection. Per Secretary Hattaway’s previous comments to you, the modern roundabout is by far safer than a signal. They reduce fatalities by 90%, serious injuries by 76% and improve safety for all users, including pedestrians while also reducing congestion. Also roundabouts are able to handle more capacity at an intersection therefore extending the life of the corridor. At this time further analysis is being conducted for this intersection. Once the analysis is completed, I will make sure to contact you. 

In the meantime, should you need anything else, please feel free to contact me.

Best regards, 

Tanya N. King, P.E., CPM
Traffic Studies Engineer
Florida Department of Transportation 
District One MS 1-8
801 North Broadway Avenue
P.O. Box 1249 | Bartow, FL 33830
: 863.519.2509 : 863.534.0915
: tanya.king@dot.state.fl.us

[End of inserted email]


I have also replied to the email, expressing surprise at the consideration of a roundabout and asking how long to expect the further analysis will take.

Let me know if you have any questions that I can answer, or if you have any suggestions/recommendations for additional action that would help expedite this process.

Regards,
Ali Johnston

Monday, April 4, 2016

New West Villages Weekly Section in the North Port Sun Newspaper Starting Wednesday

My West Villages Facebook page posted/announced today: 



The first issue of the SUN's West Villages edition is out today. This will be a weekly feature. Look for it Wednesday in the Venice Gondolier.Thank you to all the wonderful people at the SUN papers.If you have ideas for articles, email them to westvillages@sun-herald.com.

https://www.facebook.com/MyWestVillages/photos/a.877153945679072.1073741828.875397199188080/1089383737789424/?type=3&theater



If you are considering purchasing a home in this community, I can assist you. My services and extensive resources are of no cost to buyers. I am even able to save home buyers money.  

I do not work for any of the wonderful builders/developers in the West Villages Improvement District, or any others for that matter. My services and information (including the resources provided on all of my websites) are wholly independent of these developers. No other independent professional is more knowledgeable about this community, and enlisting me to assist with your transaction can provide you with a wealth of information as well as saving you money.

Please, check out my Venice area website, and contact me for more information!
Look forward to hearing from you!
Ali


Ali H. Johnston, MHA, MBA in Real Estate
Realtor®, Lic. Broker #BK3284964
West Villages Realty LLC
Mobile: 941-539-5771


Friday, April 1, 2016

Article: Housing will have its best year in a decade

From http://www.freddiemac.com/finance/report/20160331_outlook_housing_will_have_its_best_year_in_a_decade.html

Housing will have its best year in a decade
March 31, 2016
© 2016 Freddie Mac

This year is shaping up to be the best year for housing in a decade.  Home sales, construction housing starts and house prices are set to reach decade-level highs. Here are several reasons why we think this will happen.

Low Mortgage Rates
At the end of 2015, interest rates on 30-year fixed rate mortgages averaged over 4 percent, but declined at the start of 2016 and have remained below 4 percent so far this year. Low mortgage interest rates help support homebuyer affordability in the face of rising house prices and stagnant income.

If interest rates rise rapidly, like they did in the spring of 2013, housing market activity is likely to cool significantly.  Our forecast is for mortgage interest rates to gradually rise, remaining below 4 percent for the first half of 2016, before inching higher and closing the year around 4.4 percent. On balance, the downside risks to this forecast are greater than the upside—there’s a substantial likelihood that rates could remain below 4 percent throughout 2016. The path of rates depends on global economic conditions.

Many countries have negative interest rates.  In Japan the 10-year government bond reached a record low of negative 0.1 percent in March.  Across Europe many countries’ sovereign bond yields also have negative interest rates, some on maturities out to 10 years. Exhibit 1 compares sovereign bond yields for 2-year and 10-year maturities across several advanced economies. While we think there’s little chance the U.S. will have negative rates any time soon, negative rates abroad keep the lid on long-term rates in the U.S.

We think the outlook for global growth will improve—or at least stabilize—throughout the balance of this year and the downward pressure on U.S. rates will abate.  More good news on the domestic U.S. economy, and a return to tightening by the Federal Reserve, will push rates higher later this year. The Fed is likely to only raise rates twice this year, which will slow the pace of interest rate increases.



Resilient Labor Market
The U.S. labor market has been remarkably resilient, producing an average of 205,000 net job gains per month since 2011. The steady flow of jobs has helped to bring the unemployment rate down below 5 percent. On the downside, labor force participation has fallen substantially with no sign of recovery and wage growth remains anemic.

Recent analysis from Goldman Sachs suggests that the labor force participation rate is unlikely to increase much from today’s level. According to their analysis, which accounted for demographic and other socioeconomic factors, only about 0.1 to 0.2 percentage points of the more than 3 percentage point decline in the labor force participation rate since 2007 is due to cyclical factors and can be expected to reverse itself. The rest of the decline is driven by long-term factors like the aging of the population. Under this analysis, the prospects for increased labor force participation are dim.

If the labor force participation rate doesn’t increase and job gains maintain their recent pace, then pressures are going to build and wages will rise. So far wage growth has been anemic, barely keeping pace with inflation. But if you look closely at the latest data on average hourly earnings you might convince yourself that we’re at the nascent stages of a gradual increase in wages.

Wage growth ultimately will be a key factor for housing markets. If wages and incomes do not start rising, then rising interest rates, home prices and rents will squeeze households and ultimately slow housing markets.

Household formations on the rise
Given the steady job growth, household formations should start picking up. During the Great Recession household formation rates dropped and still have not picked up to match underlying population growth. Throughout the first half of 2015 the pace of formations seemed to be accelerating, reaching 2.2 million on a year-over-year basis in the second quarter of 2015. In the latter half of 2015, the pace of net household formations dropped by over 50 percent to 800,000 per year.

The drop-off in household formations could be an anomaly due to noisy data, or it could be a symptom of the lack of supply of housing. Total annual housing completions have been running below 1 million for several years, and the vacancy rates are dropping. With low levels of supply there is nowhere for households to be formed. So despite robust job gains household formations haven’t followed yet.

Housing supply increases
But there’s good news in the housing construction data. Multifamily housing starts have been solid, running above 300,000 for the past three years. But without single-family construction increasing it’s going to be hard to meet housing demand. In February 2016 single-family housing starts were at a seasonally-adjusted annual rate of 822,000 (Exhibit 2), a substantial year-over-over percent increase, but still well below what we’ll need to meet long-run housing demand.



The recovery in single-family housing starts has been long (and tortured) despite optimism by homebuilders about the direction of the new home market. The NAHB/Wells Fargo Housing Market Index (HMI) tracks homebuilder sentiment. A reading above 50 indicates that on net respondents maintain a positive outlook about the new home market. The HMI for March 2016 was 58, marking the 21st consecutive month above 50. However, despite the optimistic sentiment, homebuilding activity has not followed suit.  Historically the HMI and 1-unit housing starts have tracked each other closely. They still do, but the relationship has changed. If the historic relationship between sentiment and starts from 1985 to 2009 held, then single-family starts would be nearly 50 percent higher than where they are today.



One reason homebuilders have not ramped up home construction to match sentiment is a dearth of available labor. Recent analysis by the NAHB of the Bureau of Labor Statistics Job Openings and Labor Turnover Survey (JOLTS) pointed out that unfilled job openings for construction workers in January 2016 were the highest since July of 2007. The lack of skilled labor is one key factor holding back housing starts.

Nevertheless, housing starts are trending higher, which will bring more badly-needed new supply onto the market. We’re forecasting that combined multifamily and single-family housing starts will increase 200,000 units to 1.3 million in 2016.

House prices moving higher
With demand picking up and supply lagging, house prices are moving higher.

In 2015, house prices increased about 6 percent on a year-over-year basis. We’re forecasting house prices to continue to rise, but at a moderating pace, with annual house price appreciation slowing to 4.8 percent in 2016 and 3.5 percent in 2017. We think that long-term house prices should grow around 3 percent so this forecast is consistent with a market where supply issues slowly abate.

Higher house prices will help drive up homeowners’ equity. According to a recent report by  CoreLogic , 8.53 percent of borrowers are underwater (i.e., the mortgage exceeds the value of the property used to secure the loan.  This is down from a high of 26 percent in 2009 and reflects the solid house price gains of recent years.

Higher house prices are driving down affordability.  According to analysis by the National Association of Realtors (NAR), the qualifying income—the minimum gross income necessary to afford the median priced home in the U.S. with a down payment of 20 percent and the requirement that gross housing expenses not exceed 25 percent of gross income—has increased $3,400 from January 2015 to January 2016. With house prices forecasted to rise further, more and more households will face an affordability pinch.

Best year in a decade
Despite the challenges facing the housing market, we expect this to be the best year for housing in a decade. Home sales, housing starts, and house prices will reach their highest level since 2006 according to our latest forecast. Low mortgage rates and an improving labor market—including modest income gains—will help drive housing markets higher. Challenges remain, with low housing supply and declining affordability being a key concern in many markets, but on balance, the housing markets in the U.S. are poised for the best year since 2006.

Friday, March 18, 2016

Next West Villages Supervisory Board Meeting, March 22nd

Tuesday, March 22nd at 11am, IslandWalk Event Center

I will not be able to attend. But, the proposed Atlanta Braves Training Center is on the agenda! Please, go if you can.


Outline of Agenda (after open comments and previous minutes, etc):

H. General District Matters 

1. Request Board Authorization for Chairman and Staff to Begin Discussions with Atlanta Braves to Locate within the District  Audience Comment

2. Announcement of General Election for Seat No. 3  Audience Comment

3. Consider Approval Work Authorization No. 14 for Services Associated with the District Master Water and Wastewater Planning and Evaluation…………………………………………..Page 8  Audience Comment

I. Unit of Development No. 1 

1. Consider Approval of Change Order No. 2 for Sod Replacement along US-41…………………...Page 12  Audience Comment

2. Consider Resolution No. 2016-01 – Approving Amendment to the Plan of Improvements for Unit of Development No. 1……………………………………………………………………..Page 14  Audience Comment

3. Consider Approval Work Authorization No. 10 for Services Associated with the District Master Irrigation Plan………………………………………………………………………………Page 44  Audience Comment

J. Unit of Development No. 2 

K. Unit of Development No. 3 

L. Unit of Development No. 4 (reports and financing - multiple items)

1. Consider Resolution No. 2016-02 – Designating Unit of Development No. 4..……………………Page 50  Audience Comment

2. Consider Bond Financing Team Funding Agreement……………………………………………...Page 88  Audience Comment

3. Consider Investment Banking Engagement Letter – FMS, Bonds…………………………………Page 93  Audience Comment

4. Consider Bond Counsel Engagement Letter – Akerman, LLP……………………………………..Page 99  Audience Comment

5. Consider Resolution No. 2016-03 – Issuing Special Assessment Revenue Bonds………………..Page 101  Audience Comment

6. Consider Approval Work Authorization No. 13 for Services Associated with the Preparation of a Preliminary Engineer’s Report…………………………………………………...Page 104  Audience Comment

7. Consider Resolution No. 2016-04 – Declaring Special Assessments……………………………...Page 108  Audience Comment

a. Consider Approval of a Preliminary Engineer’s Report Report………………………………Page 109  Audience Comment
b. Consider Approval of Special Assessment Methodology Report……………………………..Page 110  Audience Comment

8. Consider Resolution No. 2016-05 – Setting Public Hearing on the Levy of Special Assessments..Page 111  Audience Comment

M. Administrative Matters 

1. Operations Manager Report………………………………………………………………………...Page 112

2. Miscellaneous Consultant Reports N. Board Member Comments O. Adjourn

Tuesday, March 8, 2016

Exciting News Today in the West Villages!

From http://www.mywestvillages.com/assets/wv-braves-final-highres.pdf

MEDIA CONTACTS:
West Villages Sondra.guffey@mattamycorp.com 941-483-6259
Sarasota County Media Relations news@scgov.net 941-861-NEWS (6397)

March 8, 2016
The Atlanta Braves Explore West Villages For New Spring Training Site The West Villages, FL— 
The developers of the West Villages, The Atlanta Braves and Sarasota County are negotiating terms for the funding, design and construction of a state-of-the-art Spring Training Destination in the new master-planned community. The proposed campus is envisioned to have training facilities, practice fields as well as a 7,500-seat stadium on a 100-150 acre site with direct access to US 41 and West Villages Parkway.

"This is an excellent opportunity for our county as well as the entire region," said Sarasota County Commission Chairman Alan Maio. "I believe the West Villages is uniquely positioned to partner with the Braves and the county to move these negotiations forward."

Braves president, John Schuerholz said, “We are excited and appreciative that West Villages and Sarasota County are working with us to potentially secure a beautiful, state-of-the-art, future Spring Training location for the Braves.”

“The opportunity to provide the Braves with a world class home for spring training matches our desire to create an intergenerational destination focused on an active lifestyle to make this possible,” stated West Villages General Manager Martin Black. “We think this part of the Suncoast is ideally suited for the Braves. The Braves are an icon in America’s sport and reflect the quality and values that the community will welcome and support. Our entire region will benefit from the dynamic economic impact.”

Having a Major League Baseball presence in south county would further Sarasota County’s reputation as a sports tourism destination, according to Jeff Maultsby, the county’s director of Business and Economic Development.

"This project is consistent with our goals to expand sports tourism throughout the county and would have a significant economic impact for the south county area," Maultsby said. "We look forward to supporting the West Villages proposal and participating in the discussions with the team."

The proposed property is located in south Sarasota County just off U.S. 41 in the new commercial core of the master-planned community of West Villages. It is adjacent to the State College of Florida-Venice campus and a future Sarasota Memorial Hospital 28-acre medical and wellness complex. The community is within 15 minutes of the Gulf beaches, historic downtown Venice and access to the wild and scenic Myakka River.

Main Street Ranchlands, LLLP, the commercial developers in West Villages, and the Sembler Company announced their joint venture to develop the Marketplace at Coastamar in West Villages. This is the first commercial opportunity in this rapidly growing master-planned community. The Marketplace at Coastamar is a shopping, dining and entertainment destination with a planned 2018 opening.

The area surrounding the proposed spring training campus consists of four premier neighborhoods, selling more than 700 new homes annually—accounting for over 40% of new home sales in Sarasota County. It’s a strong pre-retiree/retiree and family market that enjoys high household disposable income. Regionally, this is centrally located, with the Spring Training complexes of the Red Sox, Twins and Rays to the south and the Orioles, Pirates, Yankees, Jays and Phillies to the North—all within easy I-75 or US 41 access.

About West Villages 
The 10,000 acres that comprise the West Villages (www.MyWestVillages.com) are located adjacent to the US Highway 41 corridor in South Sarasota County between the urban centers of the City of Venice and the City of North Port. The community is being developed by a partnership that includes Mattamy Homes (www.MattamyHomes.com), the largest privately owned home builder in North America, and Vanguard Land, one of the region’s premier and well-respected land developers. 

About Mattamy Homes 
Mattamy Homes is the largest privately owned homebuilder in North America, with operations across United States and Canada. Mattamy has sold more than 70,000 homes in 160 communities. In the United States, the company is represented in eight metropolitan areas – Minneapolis-St. Paul, Charlotte, Phoenix, Tucson, Jacksonville, Orlando, Tampa and Sarasota – and in Canada, those communities stretch across the Greater Toronto Area, as well as in Ottawa, Calgary and Edmonton. Visit www.mattamyhomes.com for more information.

Again, from: http://www.mywestvillages.com/assets/wv-braves-final-highres.pdf

Thanks for reading!
Ali


Ali H. Johnston, MHA, MBA in Real Estate
Realtor , Broker (FL lic.#BK3284964)
West Villages Realty LLC
Phone: (941)539-5771
Email: WestVillagesRealty@gmail.com
Website: www.WestVillagesRealty.com



Monday, March 7, 2016

WVID meeting cancelled

FYI - the West Villages Improvement District Supervisory Board meeting for Tue, Mar 8, has been cancelled. The next meeting is scheduled for Tue, Mar 22nd, 11am at the IslandWalk event center.