Florida News That Impacts You – May 15th, 2024
Bottom Line: Your daily recap of the biggest news from around the state that impacts you in South Florida.
- With the start of hurricane season looming in a couple of weeks the board of Citizens Property Insurance, the state’s insurer of last resort, has purchased reinsurance coverage of up to $5.5 billion to payout claims during the season at a cost of up to $750 million. The purchase is larger than last year’s $5.38 billion reinsurance purchase which was mostly unused. Because Citizens is a state-run insurance entity if it were unable to payout claims a surcharge would be added to all other insurance policies in the state to make up the difference.
- Groundbreaking for the renovations of the historic Gulfstream Hotel took place in Lake Worth Beach on Tuesday. The luxury hotel which opened in 1925 last operated in 2005. Restoration St. Louis will lead the renovations in two phases. The first is to renovate the existing hotel with plans to have it operational next year. The second phase will include the construction of a parking garage which is anticipated about a year after the first phase is complete.
- Riveria Beach announced the City has removed five abandoned vessels from the Intracoastal Waterway in conjunction with the Florida Fish and Wildlife Conservation Commission and Sea Tow. The state has ramped up its efforts over the past two years to remove what has become an increasing number of derelict vessels in Florida’s waterways.
- At Tuesday’s Planning, Zoning and Appeals Board Meeting in Palm Beach Gardens the City advanced plans of expanding the North County Airport. The existing runway of 4,300 feet would be expanded to 6,000 to accommodate larger planes than currently are able to use the airport and to encourage pilots leery of the small runway to use the airport as a means of lessening traffic at Palm Beach International Airport. Planning between County and City officials has been ongoing for the project since 2016. The current proposal is open for public comment.
- Hot and gusty again today with winds gusting in the mid 20’s and highs in the mid 90’s, which is about 12 degrees higher than usual for this date. Highs in the 90’s are expected throughout the rest of the week.
- Gas prices rose for the second straight day on Tuesday. The average price statewide for regular unleaded is currently $3.50 per gallon - two cents higher than yesterday. In Palm Beach County the average price is $3.69 per gallon, in Martin the average is $3.50 and in Indian River County the average is $3.39 per gallon.