When FEMA’s new Risk Rating 2.0 pricing plan went into effect in April, the agency said it was more equitable and better reflects flood risk. The result is rate increases that will average more than 100% in coastal states like Louisiana and Florida. Some parishes in southeast Louisiana will see rates go up on average more than 500%.
The newest report from Trepp is on utilities, including electric, water, gas, telecommunications, and other essential services. Derived from Trepp’s property line-item financials, these utilities averagely account for 15-20% of the overall operating expenses for a multifamily property.
The Resource Recovery Facility (RRF) in Doral was knocked offline by a fire that began Feb. 12 and burned on and on. While the county continues to assess the viability of bringing the RRF back online in a limited capacity, no permit applications have been submitted to date.
Management of building energy use has become an important CRE topic. Reducing expenses in areas like energy can contribute significantly to the bottom line.
As part of its ongoing effort to improve resiliency in the face of severe weather, FPL’s investments in Doral include moving more power lines underground, strengthening overhead lines and installing more intelligent devices along the energy grid to help detect potential problems and restore power faster when outages do occur. CLICK ON THE HEADLINE FOR MORE
The DOE just announced funding for domestic solar production and distribution. Fifty two million dollars, which include $10 million from the Bipartisan Infrastructure Law, goes to 19 different projects to strengthen America’s domestic solar supply chain. Another $30 million is for funding for technologies that will help integrate solar energy into the grid.
The tower will become one of the tallest in Miami, at 861 feet above ground. It will also be the world’s the first residential high-rise in the world partially powered by the sun with 500 photovoltaic-integrated windows.
The Florida Supreme Court recently heard arguments in two challenges to the Florida Public Service Commission’s approval in late 2021 of the four-year settlement, which began increasing FPL customers’ rates last year. The Supreme Court typically takes months to issue rulings after hearing arguments.
Florida lawmakers did not detail specific proposals for state oversight. However, concerns have been expressed about situations in which residents who are customers of municipal utilities but live outside of city boundaries can be forced to pay surcharges but can\’t vote for municipal officials — a situation likened to “taxation without representation”.
Representing consumers in utility issues, the state’s Office of Public Counsel launched a challenge to the approval of costs that electric utilities would be able to recoup in 2023 from customers for storm-protection projects. The first step was taken in appealing to the Florida Supreme Court on a Dec. 12 order by the state Public Service Commission approving the costs.