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2009 02 09 Awards and Presentations 300 Project Update for SeminoleWAY Economic Development Initiative Study
Date: February 9, 2009 The attached was provided to the City Commission during Awards and Presentations "300" by Mr. Tom Tomlinson at the February 9, 2009 City Commission Regular Meeting. Briefing 2/24/2009 Item # SEMINOLE COUNTY GOVERNMENT AGENDA MEMORANDUM SUBJECT: Project update for the SeminoleWAY Economic Development Initiative Study DEPARTMENT: Economic Development DIVISION: Operations AUTHORIZED BY: William McDermott CONTACT: Tom Tomerlin EXT: 7134 MOTION/RECOMMENDATION: Consider and accept findings from both Phases of the SeminoleWAY study and direct Staff to continue implementing the ten step action plan identified in Phase 2 for communicating results to stakeholders and targeted businesses. County-wide Bill Owen, Tom Tomerlin BACKGROUND: SeminoleWAY has been under detailed study for approximately one calendar year. The study was conducted in two phases, with each phase focusing on the following: . Phase 1 -This analysis identified emerging economic trends, bringing industry clusters into focus and evaluating their suitability for the SeminoleWAY corridor. Four specific economic clusters were identified as having the greatest potential of fulfilling the SeminoleWAY vision and fostering real long term economic growth. . Phase 2 -Further examines the facility and infrastructure requirements of the four industry clusters identified in Phase 1 and then closely evaluates suitable property resources at each of the eight SR 417 interchanges and presents specific parcels that appear ready and able to accommodate target industries. Phase 2 also presents suggestions on how to implement the SeminoleWAY Plan. The Board was briefed on Phase 1 deliverables on June 24, 2008. Phase 2 was conducted in financial partnership with the cities of Sanford, Winter Springs, and Oviedo and the final report associated with Phase 2 can be found on-line at: http://www.businessinseminole.com/ecodey/pdf/SeminoleWayPhase2.pdf Each of these partner cities have jurisdiction over much of the land resource associated with one or more SR 417 (i.e., SeminoleWAY) interchange area. Staff is currently in process of briefing each City on study findings. Given SeminoleWAY is about attraction of businesses that add to the County's quality of life, this vision neatly extends the County's Economic Development Strategy Plan objective "... to create a great place to live that will attract economic prosperity; build a strong business environment and communicate the Seminole County opportunity to targeted businesses." As such, the SeminoleWAY study can be considered a direct addendum to the County's Economic Development Strategy Plan. STAFF RECOMMENDATION: Accept the SeminoleWAY study and authorize County Staff to continue implementing the ten step action plan identified in Phase 2. In general, these steps involve communicating results through a broad range of mechanisms to all stakeholders. Methods of communicating results include development of a stand-alone website; local, state, national and international marketing through partnership with the Metro-Orlando EDC; and development of any necessary agreements with the three partner cities. Additionally Reviewed B~ I- County Attorney Review Picture. Picture. Picture. Picture. Picture. Picture. Picture. Picture. Picture. Pha~P (~ pflfYlliY ?. ~~ -~~1INOLC COUIV FLORIDA'S NATURAL CH~lCE S.: [A'1 (.`EY. "i9 Ft;:rmn•~t C;~C,IS'ilgf r i a u s ~~ y a nc~ r re v . R p s~ ~~ w,. 1 ~ " ~~ ~~ZIdJ -~:;; Picture. Picture. Picture. Picture. Picture. Sterr~nary +ISf Facility and fnfrastru~ture Regt~irern~nts, Serninateti~6lay °°°~~,_ ~E~.~IIv`C~LE ~l.!l"~ ; FLORIDA'S NATURAL CHOIC m 2. Digital /Arts and Aledia ~ ~~vided into faue n~joe tries: tv4~deling., 3. Financis~i d ~inaerc, eesecta, and t~chnieai ~eea~ces stature Profe$sic>rral Se~ices ~frasteu~etetre nees~s similar ~ ar,y tecFsracalsas~y-intensive #. Research and Technical business, lh the ditian a7f red~nd~r€t pe~~ee and ~rarices c.~rarr~unicati~uas tFl~ tion access. • "4"ar~~ ~°fic~earr~LAusir~e~s,~xar~space • =~^;°?4~ to 3i;ifec' !: r;.~{e5~s ,~,' sr:vices em ~~~:_p,?~e,~si h~;„ e °sCbi1R~E,. Real Estee ~eseara~ ~~sultarats ~~• ~: ~~ ~< ,r ~~~~i~to~e Couwn FLORIDA'S NATURAL CHOICE ~~n~r~dWA`~( Serttan+~e'VYay Fnte~chan~es and Poterttia9 Deve~aprt~ertt Parcels -Phase 't Flnalyss mart g - ~nvento ~M1n~w~E Gouwn ORIDA'S NATURAL CHOICE Avae{.ab~ Pr~p€' Su~le fc~r ~l~evel~~#, ~e~` etP11A'Y~ ~€~~x L}+e~c~rgrb~r ~~t~~ Picture. 5r_-~i~~~a~,~otF ~~~~~~ FLORIDA'S NATURAL CHOICE 5. 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UC=. and 's p•edor-~~: y _7^^^ercial c~ara::a- is ;: T gh y :rcba= a d>aa: ma^y teC~nica'. aP': 'k'SE~'C" 5e!Y1QE5 b~'S f _55e5 37td !~'a 5C ft0E5 a:tY!tie5 X0;1 .'Cde' F.r~?. i* adY:,a- tc :~~:~e-::+^al ~_'~rce anc c~'r~e~ai ax•aties ;.ne hiQh- tech -c.:atcr s ake?cy in cpe-?:.: this c strip . e; :1rh ~ p^:pertes a-= tt-.e: in nunbe^.:hEre are so^te la*,er parcels a-.:he a.e~a~;e carnal s?~e :s s gn~;ant aU~rir}~ +a get scaE de~.~e+~sm=+-st. ~•: pav_ s are xnGguo: s, r,r .h troy a~~i+ fcr asse^•b`:~,= f desrab4e. fj 'hi= s an es:ae;is^ee and hig^ y de~ab a a-_a, a-: sore relevant de••Je :pn-ent i•-Js alrpa.y bE;~.an. T°ere:v ` at• =_trcnQ and dverse pre5s~res fcr a=,:~^:,:nal ce.elco,tErs Ta a^_osage ciQtal rr~dia cr !:f= aaences tc :ewe ^p :r•:^. ^ 1111:: Sfi~:. 3 5Cp^is:l~teC ?rsd a~7zs51`dE :rcg•3~~ cf ~A:Eaves ~• othe- i^:e Ye~:ion rrai ~_ *e:uire~ ~ornren:io~1 5~s ^ess sere ~s a~-. tedmi:al resear:fi acs~~ites ~iQ^ a-re~tr `~, :hE area a:t3v ve 7r~!~s or.•rg r-.atrr s~t~,~ay:es xe~: siaracte•sn;5 :•:re a.a a3Np-acE+roas ice^7fI6]for :^IS .?r'3IK'sE ~lE \6sr Ke~« '~L~'t?' Sri! P3~Ge ~ a-e r ~l[C!'?3x7?? "4 oIV rc~ r"t~F: ]?pct ~ f~~^.'~. ¢~C3{6 dt~'tl^ t"fE S:J. f 3'?3 Seminol~IVAY Prop 5 R 43d i 2 3 4 3 S 8 iEl • etl Fi ~k/r4tLA:1~3LE 1lVTER~HAN+~E PR~?fJ'rER~~ES, L~EC~BfR 208 F^~~nc tE? i tt} "s i S E. 3 3333313 H a 12a7's L IS ~ 3333? 81-7 i i i is 3 3 C_ G£t}}}.i G C. t?'= E is 1 ~ C+[ [+C .' Ea _{a 0 C ~t.2r7~27 8 3 33333 1 3a 8_' Z~33L=E~~7~Cu1'• e 8~8tt's33E:ay33Gv8u=, 2~20317E~7~"CCCi'• G ~3;~ 21s i3CCCC ~ CC4C 3 ~a !"' $ i CbS~C=L s. C~.Ev~; ~ ~, t.hS~~. i i SHSLIXrl _R=.-•A-4c -s ~ ~TR«.1~ aFt]UP ..LC 303 C:ZS~=1~ 1:1.k1:a4R~_E ~ [ r. _ S :,RIE ~C±ih B S+J~C'RUS''EE E.11rtTER ,;'ILLrrJ T ~ ~~~«rJ J i 5 FIRS C-,tIP IFi'e L.. 14 R-EREriCE CtNLY ~€xT~u a~.~ i ~s 2 t+rs 5~,~~1I~OLC C.^OUI~' FLORIDA'S NATURAL CHOICE. ;.,~fdn~, F~aau~e L~n~ L~s~ ~r~~rtgrr~as J~-~7 ~'YGrth'~`~ 1!'fiYC"~f':Ee ~J f~Ct4S':"f[f ~~A'i~i~il '~3+SR Awl ~eerw~•p t•ttr_rc~r~e u.:f~.ts4' *:::er _~rin?:i 4-:1 fry [?.iGCC-_~ =i'~ 5~ t .D~ ;Cv?~7, ;~etr~g it _f~fl~-F,_ DutnG :"~~~~-= SR A-3 _D? ;Cv ~~7j.irttf'•rs~rr Ir:~*,:~:-c~~ Dist~c '/~ sFk: _ r s+E a•t _D?. _a~s ~G4rieja~ 2.a7'!r'~3a5F .a-16 Camrreroei,~~~iit ~aR'-~eer `-f*iR~] 4ist~il~ Ffi 3 • ~ ^ ^ CJ ~~~~®~~a e~[® 1. F€~~i~r the r~io~~ end n s ~f Ie' P' ~ t~F ~rlq~si~ dim t ~h,~ml'~ ~~~~ i~an~t~. ~itt'~ ~€~d ire n#~'S Btaand ~+f ~. a~i th+e ~irirs ~ln~d ~nda~i~n~ ~f a ~h le~tih~ ~f the t~lne~ palm mi~i~liti~ ~ ne ~ liners s~f c~ u a srii~~ oaf ~~~. ~. I'nes~r~t ~ fir~ir~s .a~r~d c~t~,el~i~i~ns vyrth m~~ ~; . -n ~~rr~n+~l~~'V~~ rar, i + ~t I~~st ~~~ ~ff~ I~ln+~ ,: r~ ~n~ jar ~ ~s°s~s. ~. k~ ~~ firi recce n+d~tit-is ~ ~ ~s~ll~ ~ # n+~r~st~ ~li~ it ~, ~ n1~5 ~ the ~unt~`s ~. ~. I~r~t~ "`#~ it~dtri~s ~~ in ~~emir~l~ ~Is~ ~ ~~ i~l~t a9v+e ~ -lt~~st the fig ~f st~di~s ar~d t~+ei~ int~r~st ~ fe~dt~ack. ~~f g. _- i~_'i'1INOLE C_ C7C~` i ; FLORIDA'S NATURAL CHOICE ~ ~,_ - -~~-„- 1 al Path to Imnlementatic ~~ SF~ar~ ~~ t rr~ir~g tk~e av~~ililit~ ar~d suit.si~ty p~rtie~ ~a+it)~ ~r~t~c~ ta~s~~ ~r~ Ft~~ia~~ ~i ~~ d+eea~lte~s ~'t~a ~~ iara~u~ti~ ti-ie ~ssan,~ facilii~s t~t~ I~sir~ss~s. ~. rQp~e re m~rketir~ ~ fir i~ 'c~tir~g e~ir~, up in+~>~ irtteaa~st +~in the Sesa~le4'4'a~r ~. Ida Pr~~ I~Rs f~,r nii it c~m~rs ire ~ rimer ~t ,. ~ ~a~~ti~ ~etcamt raep~ ~.s vat ~s c~vur~ty,~it~r r~a~i~r~ts ~~.g., ning. Brat, mtin~ taa fur~h~ tl~ ~is~ir ar~d ~il>~s tt~ ~~rt~i~e-t~l~t~y ~Slr. ~. f u~ ~ rty e#~rir~ cyst itfii~ :ire ar~~ 1~ ~€~ ~ I~~e~s track ~f ~xistin~ r I~' "gs that .are a~ai~ + its fir fi~r~t ~+ de mist, ~ 7 L~~ 1=11 can ~ ~ ~~~a~lar~t P' ~ c~p~rtu ~ ~ i~ ire this s~~y - ttlre~ ~tal<s ~ r?a~vo~s ~e.~_. ut~r r1 ~tati~ ~re~as, a~stirr~ ~trs~ cat err-utill p~irti~~ '~ ~~.f~_, ~~el~~rr~ue~f ~n tai air-k ire mss, i~cu ~%~~cts, _~. S£-,~V11~VOLE COCIIVT} FLORIDA'S NATURAL CHOICE r ~ ~`~ ter- ~£~ ~ ~ N P~~i~es LEGEND ~~ -Y Picture. Picture. ~1~~~T:7 = ~ _ 1 ,~ , . Indust and Facilit Anal sis ~,,' ~ y y _, y Executive Summary .~ ~~~-~;4 d4 x t ' f x '7" ... ~ w-~ Crty,of•5 .~ a f rd ~ - , _ r ~.~ , { n o ~ _ 4 :• ~ ti i .t -- 7 ~= ~A k t ~ t c ~~ #GtyofLakeMary. ~ ~ t ~_r_„_p,,=,5} s'_^~ ~ -, ~.. ~ E € er ~ r ~ "~ - ~ i' 'c i ~ ~a i p ' - 4 .. J f--~-.. .r ..-~3 - ~ _"-j. t ~ s' c11 ~-r_...rr~ r . _ 1 i. 7- -~ ~* 1 ~ ..~ }- 3 ~ ; o' +M , ~ 'P c u~E kq - ~i ~1 1 ~ y^i >- .. .. z _ c~,f ~~ ~C ''~`"'~1" v ~ } k~ ~ ~ ,, < a~ r N v~,,~itiv o.. ~ ,yrv ..,~Y.~T4E tT .. .. _ {,~ 1~ ~ ., ~. - ~ . , ~ a t ,. ~, ~ a - .. _ ,:$"7,,,-C ~nuTiN~~.~~,rrvrwv v. -1 ,4 . ~ ~ -~ ai, _ ~ A p~~ laketcsup :,:a ~ -. ' -~~~ 1 !-- ~ ,~- Tyr -~ i ? Gtq:ofLongwo~dt -r ~ '~1 ' -- ~: ~v ~ @. ~ ~ ~ 1 S T~.. ~. _. -. 'F ~.CityofWinter$prings w ~_ ~ '< _ , c~i~ ~ n ~ n hM~~~,~ ~~ ~ ~ ! ~~ r~l ~y~tyH~r_ ~ ~'`~ ~~ r. ~ _ ~ . ~ ri rr' _ ~ AEI f ,, 81 ~ ~' ~-' ~~'~ ,~,+"` .e ., ) Oltled r' 'r ~~ x . __ v o ~. Y . . . ~'' F1 ~° ^f City ofCasselberry t~ ' E '` Tya,~F~v~ nv,+;"~,-~ - . _ ~. ~ ,\/ rr t , '~. r { ~_~ ~ s ~' t ea r F swu'~r - _ -4~~5 ~ -~,1'~.. ~~c~~ei~rr~u..oa~Ka[,~ LEGEND ~ _ -,,. ,. - - '~. a, - ' semioole Way Study Corridor ~ t K4?p,, ,: ,, x .,. ~ --+~ ~° ~ "~~ _ ~- --- limited Access Highways t ~ _ ... State Roads i n.i13V: _. ~ RES~RCH -~----~ County Roads ~y ' g~ C p N S U t T A N r S Local Roads , qa _t ~ . r _- ~ ` ; +-~-~~ Railroads ~ ~a -~`~ " ... _ Qi ® D 0.5 1.d 2A Miles ~~ i ~~ i~ - c , , - "'a , r~. SeminoleWay Industry and Facility Analysis -Executive Summary Executive Summary Introduction and Vision for SeminoleWay Preparing a guide for quality economic development for the future of a vital community like Seminole County needs clear vision and leadership. It requires coordination and consistency of policies, as well as supporting infrastructure and resources. To enhance the opportunities for successful implementation, it also takes relevant and accurate information regarding the economic marketplace and the possible obstacles that might constrain or redirect the most practical options and pathways. In a globally competitive world where technological changes can sweep swiftly like waves across the sea, one locale must focus intently all of its resources on the target and move quickly. At the same time, foundations must be laid to provide the infrastructure and support systems that might not be fully capitalized for a decade, or more. In this evolving and highly charged environment, reflecting the character of a well built community already near maturation, the SeminoleWay initiative was conceived by a visionary partnership of business and governmental leaders -The Seminole County Regional Chamber of Commerce. The Mission: to create a strategic land use and economic development plan focused on attracting high value/high wage jobs and businesses to the county along the State Road 417 Corridor and across I-4 to the Port of Sanford. For the past twenty years, Seminole County has pioneered and wrestled with the challenges of maintaining a strong comprehensive plan that encourages positive economic growth for the future beyond only dependency on ad valorem tax-supported growth. The SeminoleWay initiative will continue this forward thinking and create an positive environment and effective strategies for bringing business and government together in pursuit of a strong, stable, and relevant economic future of investment, livable incomes, and high quality employment. In the following pages, this Executive Summary explores issues addressed more fully in the Industry and Facilities Analysis report: 1. goals and visions for economic development in the SeminoleWay corridor; 2. local resources for economic development; 3. important and relevant historical economic trends in Seminole County and the central Florida region; 4. economics futures for the county; and 5. land use trends and policies that will be important to attracting high value/high wage jobs and businesses to the county. All five of these subject areas must be incorporated into a coordinated and effective strategy for identifying how the SeminoleWay dream may come true. REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATTING JACKSON KERCHER ANGLIN SeminoleWay Industry and Facility Analysis -Executive Summary Study Area Context Seminole County has identified a study corridor generally consistent with the alignment of SR 417, extending north from Orange County to Interstate 4. Along this corridor there are seven interchanges providing varying access to approximately 3,700 acres of undeveloped property distributed among owners of more than 4,000 vacant or seriously underutilized parcels. The county has indicated a preference to position this corridor to support targeted industries which might complement or expand the base of high technology, higher wage employment already established in the North I-4/Lake Mary HIP area and proximate to UCF in Orange County. Preliminary assessment of the opportunity has suggested that only a limited number of the undeveloped acres (25% or less) are in large assemblages and only a small part of the larger parcels are adequately served by SR 417. The restricted access may be further constrained by the toll structure on SR 417 and the absence of supporting alternate roads paralleling the expressway. Practically, this analysis accepts the limitations imposed by the physical configuration of the existing road system and evaluates alternatives generally matched to the known or anticipated capacity. A later phase of this planning initiative might identify prospective economic development opportunities and suggest strategies to enhance the infrastructure perceived necessary to secure these opportunities. The preferred approach is to pursue the former option, considering the latter only if the initial assessment points to obviously unexploited target segments of exceptional high value. Figure 1 provides an illustration of the SeminoleWay study corridor. A set of figures relevant to this executive summary can be found at the end of the document. REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATTING JACKSON KERCHERANGLIN 2 l Lake Monroe r~ ~ ~ ~ ~ f, ~;(-_- i 'r- ~~ ` ~, ~, ~ ,4 ~-{, ~, ~ ~ ~ ~ t ~ lr--n _ Cityof Lake Mary -~ ~ ~ r.',' ~ _t` ~ - ~~_- ~ ~, i, ,.,~ ~~~ - ~ - } , ~` 1 -- ~ , ~ %~ ~ `~'~ r--~ ~ ~~ ~ ~> a____ - ,.. _ a ..~ a = .i Qr1 `' °~ ~ - ~ ~d ~ p I _ ~~ ?` l? ~ < ~` J J z Z ~ l ~~ ` GENJCHUTCHIN9 NPK _- _ , s , I~ ~ i _ ~,~~ '^ , v~ Lakelesup '( ~- ~ ~ ~~ ,~- ~ ~ r a~ ~ ,r _ ~ ~~ -,,1 . „ ". ~~~~ `Gty of Longwood ~' ~ ~ ~~~ ~ a ~ r ~ ~ > ~ ~~ ~f r ~~ ~ ~ -~~= I tj v _ ~ I __ ~ J ~ ~i ~ ~~ l ~ ~` -- V311 ~I ~ ~Ci ~ ~rl. AA .: ~~-•_-~.. "fir- ~--.~.. ,. ~ ~ , . ~, ~s~- u ~ -_~ , ~ - • ~ „ ~ _ `~ - ~~ ~ ~_ `~f .~, ~--,~ ~. . ~ ~ ; I ~ ~ : ~ ~~' (~ ~ ~Gty of,Winter Spnngs _ ~ ~ ~CityofCasselberry~,y'., _ ~-~1 ~ ~' ~ ' ~ ~ ~'~ - -,~ 1 r~~ [ ~, ~- , - _af- =1 jR '_7F ~f r' ~~~~ ~ it ~ = _ ~ ~ r~ ~ ~SEMIN~~~ J" (TZ~ _1 I~~ ~ _ r ~~~~~ ~x - _ ~~t~~ 'BL `cf 77~ ~ `-I. ~~ ~ ~ ~ i I ~ L I - 47 r~` - ~~ - V 2 O L ','- J ~~ ~ `L~ ~ _ l~ 7 - ~1 ~ ~ > r ~~ ~ ~ - ~ ~ ~ ~ ~~ ~ ~'S ,~ ~ RCHELL K RD -- ~ _. - .. - ~ ~, ~ ~ ~. i ~ ~a ~ r--I _ _' ~ _, ~ -~ ~ ~~~ ~~ - :_ ~ ~ ~::~ LEGEND ~ ~" -. ~ ~ tf IFFI. (~ - ~ E ~ ~ ~ V~ ~ i X' - J ~ T 1 ~~ P ` ~ SeminoletWa 5 ud Corridor '- - ~ ~ ~ _ ~~(~ ~I}~ .. Y Y ,~, f U ~~ _. '~ --~ ~ ~ , r, L~ v _ ~y~ r ® 0 OS 7A 2.0 Miks ' T ~--' ~ I ~~~ ~ i ~ ~ -~ ' .fOUNLY-LI -.-. ~-. --_ X571 u' _r. _ Figure 1: Seminole Way Study Corridor Data Source: Seminole County SeminoleWay Industry and Facility Analysis -Executive Summary Conclusions and Recommendations of this Effort A brief summary of the findings and conclusions of this first phase evaluation of the SeminoleWay economic development vision is presented here in relation to the major topic areas addressed in this report. The accompanying Industry and Facilities Analysis report and its appendices provide a more expansive presentation of the study's key findings. The Vision for SeminoleWay What Seminole County community and government leaders want are high value investments and high wage jobs in target industries sectors that will provide economic stability and growth for the next twenty years, or more. For many in local leadership roles, the vision is embodied not in the next successful office development or the next industrial park, which are easily predicted and clearly envisioned. Rather, they are wrestling with defining what will be relevant and needed in the county and the region when the next generation of leadership is in control and making decisions about what is best for its community. For many, it is necessary to understand what is emerging or only anticipated at this time. The analysis summarized in this report brings emerging economic trends and industry clusters into focus and evaluates their suitability for the SeminoleWay corridor. The "Vision" held by community stakeholders includes many specific goals and objectives. Based on the results of this analysis to date, "Success" would be defined as: 1. A vision or plan based on realistic economic opportunities for the Corridor, blending public resources, private business interests and education; 2. Attraction of businesses that add to the County's quality of life through stable investment, high-wage employment, environmentally friendly development, and support for existing economic base; 3. Expansion of the County's non-residential ad valorem tax base and other revenue sources; 4. Provision of appropriate land use controls and comprehensive plan policies throughout the Corridor to allow desirable "high value/high wage" (and maybe "high tech") businesses to find a place in the county; 5. Land owners understanding the vision of SeminoleWay and "buying in;" 6. Certainty that infrastructure resources, policies, and incentives are aligned at county and municipal levels to enhance the chances of achieving the economic development vision. Economic Futures Analysis Seminole County already possesses a significant amount of strategic economic development resources that can be readily applied to facilitate economic development within the SeminoleWay Corridor. The foundation for land use policy incentives has previously been laid with the existing HIP-TI targeted future industries land use category. Many of the policies and practices associate with HIP-TI could function to attract REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATTING JACKSON KERCHER ANGLIN 4 SeminoleWay Industry and Facility Analysis -Executive Summary identified SeminoleWay economic clusters. Existing financial incentive programs, such as the Jobs Growth Initiative Fund, the Qualified Target Industry Tax Refund program, and the Florida High Tech Corridor Council matching grants, will be or should be made available to targeted industries within SeminoleWay. The SeminoleWay initiative should continue to build upon and enhance the existing partnership with the University of Central Florida's Business Incubation program. Building upon the existing economic and industrial conditions in Seminole County and the greater Orlando MSA, the RERC team has identified four specific economic clusters with the greatest potential of fulfilling the SeminoleWay Corridor vision and fostering real long term economic growth in sustainable high wage, high impact industries. They are: 1. Financial services and information services 2. Digital media including modeling and simulation, film and broadcasting, themed entertainment and animation/game development 3. Life sciences including biotech and medical instrumentation 4. Technical and research services including civil and environmental engineering and so-called "green" architectural and engineering services These four clusters represent the most feasible and attractive future of the SeminoleWay Corridor given the context and identified constraints. Policy decisions concerning each cluster should be evaluated and tailored to exploit the resources identified within this report. Any limitations of or barriers to the successful cultivation of the SeminoleWay targeted industry clusters are likely to be spatially specific in nature. From a global perspective, the SeminoleWay Con-idor is already well suited to attract and sustain each of the identified clusters without significant hindrance from transportation infrastructure, environmental constraints, suitable housing, educational resources, or land use and comprehensive planning policies. Land Use Analysis Accounting for environmental constraints and major accessibility issues, the State Road 417 Corridor between I-4 and the Orange County line contains about 3,300 acres of land that could be considered suitable for economic development efforts of the SeminoleWay vision. Of these ripe lands, the majority of acreage can be classified as underutilized rather than vacant. Approximately 500 acres within the two mile corridor and nearly 900 acres located within the Sanford Orlando Airport and HIP areas are functionally vacant. These constraints suggest that targeted industries and development within the corridor will necessarily be focused toward smaller individual developments and businesses that may not require a large tightly clustered campus and the associated large tracts of raw undeveloped land. To serve the most obvious target industries and businesses, large- scale land assemblage is probably not necessary. The suitable land within SeminoleWay is, however, clustered around readily accessible SR 417 interchanges. SR 417 itself provides ready and efficient access to both interstate 4, Sanford Orlando Intemational Airport and Orlando International Airport. The future land use policies of Seminole County and the SeminoleWay partner municipalities REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATTING JACKSON KERCHER ANGLIN 5 SeminoleWay Industry and Facility Analysis -Executive Summary currently governing the available lands around the SR 417 interchanges support the SeminoleWay vision and may require only minor adjustment on a spatially specific basis to fully accommodate the specific SeminoleWay targeted industries. While it appears unlikely that a major "ship of gold" opportunity will be drawn to SeminoleWay's limited harbors, there will be many, many opportunities to draw high value cargo to the county's scattered ports and business centers via tenders, shuttles, and barges that connect the county's resources with motherships of targeted industry clusters of tomorrow. Historical Perspectives Pasf Development Trends -Seminole County Over the last 25 years, Seminole County has experienced, through careful planning and influenced by various market forces, several shifts in the sizing and geographic clustering of specific development, including office, industrial, and multi-family residential uses. Understanding recent trends in land use changes in addition to the existing land use picture of Seminole County more clearly highlights the path from where Seminole County has been to where Seminole County desires to go. Non population based employment generation has typically been spurred by office and industrial uses. While other commercial uses, such as retail, generally exist to serve the needs of existing population, these core uses have long existing as fountains of employment attracting corresponding workforces. In addition, noting the geographical distribution of multi-family housing can function as an additional indicator of major geographical employment centers. The economic analysis focuses on the past development trends of the office, industrial, and multifamily residential uses and highlights the existing geographic clustering of those same uses. The most notable highlights from the trends analysis follow. In support of recent population growth and corresponding increases in employment, approximately 26 percent of all Retail and Office square footage in Seminole County has been constructed and added to the tax roll in the last 7 years. Furthermore, more than 55 percent of all existing Office and Retail development has been constructed since 1990. The relatively high proportion of newer Retail and Office development indicate that the vast majority of these uses are functionally adequate to serve the needs of the existing and future targeted industries within Seminole County. This is further evidenced by the fact that less than 17 percent of existing Retail space and only 13 percent of existing office space was constructed prior to 1980. • While opportunities for Office and Retail redevelopment certainly exist, in total, Seminole County is likely well positioned to meet the needs of existing industries in both the present and the near future. REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATTING JACKSON KERCHER ANGLIN 6 SeminoleWay Industry and Facility Analysis -Executive Summary On average, the functional age of Industrial development has exceeded that of other non residential uses. Correspondingly, approximately 17 percent of existing Industrial square footage and parcels were constructed between 2000 and 2007. This older age is not necessarily indicative of a deficit in newer and suitable Industrial space, as Industrial development typically exhibits more facile reuse properties and is not as tightly tethered to population growth. The relatively older age of Industrial development in Seminole County may however indicate a decrease in Industrial land demand as the county transitions to other industries and employment generators. The complete detailed historical and development trends analysis can be found in the SeminoleWay Industry and Facility Analysis main document. Economic Development Resources In order to craft the SeminoleWay vision and best identify the appropriate targeted industry clusters and ascertain their feasibility and suitability for SeminoleWay, an accurate inventory of the most relevant economic development resources within Seminole County and the greater Orlando region was compiled by RERC. Before a forward thinking approach can be fostered and policy, resource, and infrastructure gaps can be remedied, it is necessary to understand the current economic development resource inventory and its adequacy to support SeminoleWay target industries. These economic development resources take the shape of existing infrastructure, regulatory and incentive policies, financial resources, and educational support. Many of the resources are offered by the economic development councils of Seminole County and her municipalities, as well as Metro Orlando EDC, higher education systems, and industry partnerships. Each tool is described more fully in the full report. Regional Resources Infrastructure Resources o Telecommunications o Orlando International Airport o Orlando Sanford International Airport Specigc Seminole County Resources Regulatorv Resources o HIP-TI Future Land Use Zone o Fast Track Permitting Financial Resources o Jobs Growth Initiative Fund o Qualified Target Industry Tax Refund Program Local Match o Florida High Tech Corridor Council (FHTCC) Matching Grants REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATTtNG JACKSON KERCHERANGLIN 7 SeminoleWay Industry and Facility Analysis -Executive Summary Education Resources o University of Central Florida Technology Business Incubator Program o University of Central Florida Technology Resources o Seminole County Community Colleges o Seminole County Public Schools K-12 Futures Analysis The forward thinking SeminoleWay Vision can only be crafted with a precise understanding of the existing economic industry conditions in Seminole County and the region. A Futures Analysis will arm policy makers with a detailed picture of the current economic landscape as well as begin to identify the appropriate paths leaders must embark on to achieve the desired realistic economic and industry outcomes that are feasible for the SeminoleWay corridor. A futures analysis aims to quantify the economic potential for the SeminoleWay corridor by accomplishing the following tasks: 1. Examining future industry formations to identify, rank, and measure potential opportunities based on emerging sectors and clusters. 2. Identifying existing or future industries in the region and corridor which have the greatest local competitive advantage. 3. Benchmarking clusters to measure how competitive a region is relative to other similar regions or to the nation as a whole. 4. Indicating relative levels of supportable activity within the general study area. Within that context, RERC worked with Innovation Insight, Inc. of Wesley Chapel, Florida to conduct a Futures Analysis for the SeminoleWay Corridor, Seminole County, and the greater Orlando Metro Area. Towards that effort, Innovation Insight completed a detailed economic cluster analysis, conducted a multitude of interviews with industry leaders and stakeholders within identified and targeted clusters, and detailed the relevant infrastructure needs of targeted SeminoleWay economic clusters. General findings from that work effort follows. Economic Clusfer Analysis • Economic cluster analysis was popularized by Dr. Michael Porter of Harvard in the 80s. It became very popular for its focus on competitiveness factors that included innovation, economies of scale, knowledge production, networks, and relationships in addition to traditional factor (cost) considerations of traditional economic geography. While cluster analysis has become the most popular paradigm utilized by professional economic developers, the process of intentional creation and incubation of regional economic clusters is still poorly understood and documented. REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATTING JACKSON KERCHER ANGLIN $ SeminoleWay Industry and Facility Analysis -Executive Summary The effective geographic scale for cluster analysis is between national and MSA levels. County and zip code-level geographic boundaries rarely can contain a sufficiently comprehensive mix of supporting factors and industries to constitute a true cluster. For that reason, county- and sub-county-level analysis is best performed in context of the industrial makeup of the larger metropolitan area. Research Framework The objective of this research is to empirically identify the best probable focus for economic cluster development activity regarding the "SeminoleWay" region. The best research framework will be one that comprehensively looks at both quantitative (economic) data and qualitative (expert) feedback to rank and select cluster candidates. Given that the SeminoleWay region is too small for cluster analysis independent of the larger county and MSA, we believe that the best cluster candidates for the Seminole Way region should be selected from the intersection of: • Competitive existing or emerging industry clusters at the MSA level, in which Seminole County has a competitive foundation. A competitive level of supporting industries that are at the intersection of multiple MSA-level industry clusters. An existing minimal basis of industries within the 4-zipcode area of the Seminole Way relevant to MSA-level industry clusters. Competitive MSA Clusters In 2006, Innovation Insight conducted a comprehensive, empirical analysis of the Metro Orlando region's most competitive economic clusters for the Metro Orlando EDC. The study looked at occupational activity, federal procurement and grant award activity, patent and intellectual property activity, and industry salary, productivity, and specialization data. The study looked at recent historical trends and forecasted five years into the future. The SeminoleWay cluster analysis takes advantage of this very comprehensive body of regional data, and through comparison with more recent data confirms that the 2006 study's findings are still relevant. The most competitive clusters overall were identified as the following: • Information services • Precision instruments (closely tied to "photonics and lasers") • Basic health services • Business /professional services • Computer and electronic equipment (the fastest growing cluster overall) REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATTtNG JACKSON KERCHER ANGLIN 9 SeminoleWay Industry and Facility Analysis -Executive Summary • Higher education & hospitals • Aerospace • Hotel and transportation services The following clusters were considered "emerging" -while not specialized in terms of significant employment, they were found growing and attractive due to other features such as salaries, productivity, and procurement activity. • Arts and media (tied to "film and entertainment" as well as "digital media") • Construction machinery and distribution equipment • Nondurable industry machinery • Financial services and insurance (one of the highest paying clusters) • Nonresidential building products Metro Orlando Industry Clusters Employment Relative to the United States 2004-2009 Foreceslsd t3rowth 120'.& _..... __ _. _._ .. --,---- _ -- -- -- Basic healk~ outs ' 115% _ , ' 11C96 tnfarmation svaa 1 C59b - -- ~ Highor education d h06pi181a. ~ ..... .. .. Nonrea~tJentiai bu~ltlmg profs ~ HOla4 j tb 3 Arts and media 3 Bupnss vcs ._ . r ~ iCa% onstruckan c(~act7 $ d(strLuda~ agpt.__ -,--- •Flnanciaf sues & insurance ~; '~ Nondumble~ndustrymachmery ` 95°!0 .', `_ a _ 0096 ,. ~Precisioninstrumea[s ..... •Computar8eiectranicegOt s F } '~' 8516 ^' ~ v t ..,. ~ .. :. . ... i /~B~}- O g :... p G i3a16 ~_- -__ _.. >_ ._ _ als za16 ao96 eat Bogs coals 1za16 laces 1i9a95 1eo9s zaa9~ zza~ 2004 Location t]uodsrff tSpaciallzation) Size ei' IwbWea indicate relative number of iatrs. sure REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATTING JACKSON KERCHER ANGLIN ~ 0 SeminoleWay Industry and Facility Analysis -Executive Summary Metro Orlando MSA versus Seminole County: Cluster 5pecializatlon and Employment G N .~ .~ 2• c~ O .~ E ' ~ Compu9er & electronic ettuipmeM 1.6 k. Precis onlnslrumeeMS 1.4 ----- I ----- I --- J );igh Tech Information Se / it 1.2. ; ......,., ... ,. r .._......m .............m.... ..... _.......,...m.,.... - Technical 8 tiesearch Servh i I ,.,...~.,. ..,.:..,.,. ""-."V{II(In9 ~aVKPBS $ .SWt~C}1 ~ n i c hilectural & E 1 I ._._.__-Fi naneis~service s8insuranco ~ I :_..__~_____ .. ~Nonresidenftall Hotels 8 to 0.8 N ondurable industry machine ry D B I Aerospeoe B asic nee.'f-. services . I Information services Hiner eduGatM a D 4 +---_ usinessse-~~ces J_.....WW.,_...) . i ' Arts end rnadi8 ~nn°i'uClpn rnecrinery & d~sh;tuticn uiprnent t 0 F rrviCes !a9 @S gineenrua Services w;Id,ng products ~nsportation services m 8 hospitals 0.2 0.4 0.6 0.6 1 1,2 1.4 1.6 MSA(Regional) Speclallzation The previous "bubble" chart compares regional cluster specialization (horizontal axis) against Seminole County specialization (vertical axis). The size of the bubbles represents relative estimated employment in Seminole County. Essentially, the farther to the top right (green quadrant) a cluster is, the more competitive it is both in the County and the region. The MSA-level cluster data was compared with the most recent available industry data at the county and local level. The best foundation for economic development activity in the Seminole Way area must reflect an intersection of regional, county, and local cluster industry advantages. The following chart compares the overlap of: • The most competitive regional-level clusters (bottom left circle) • The clusters in which Seminole County has a disproportionate share of the region's employment (top circle) • Clusters in which Seminole County has a significant basis of industries that are supporting industries to the region's top clusters (bottom right circle). REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATTING JACKSON KERCHER ANGLIN 11 SeminoleWay Industry and Facility Analysis -Executive Summary Seminole MSAAWantage H9~-18^~ IMCxmati0~. SeNi"JR8 CtiWu IMnu1aG4.tirrQ. TeMakal A~ Flrr~tnClAl iibtlbtlroF :x~maasi Servieaa Inx~rart[e Hemet sar~o~s € s i7x~ a ~~~ swr!<naa eNlnass ~y rroreasa, Arcnaequraia Tra~ ~s Ergi~rta ~~(r~ Ars& NWda Nprrgslrya~nel BJiklna. pfalJCls C,ampe67ive MSACIus1er ~ ~ Senrrvole Support CRlate~ Gcr~pe:: oe ELLVlprrlc Custer a 'Erneralnrd' ooromle CUerer The strongest intersection of MSA clusters with strong Seminole County economic activity as primary industries or support industries include: • Financial Services and Insurance • Technical Research and Consulting To a lesser extent, the following clusters also show strong intersection: • High-Tech Information Services • Business Services • Hotels & Transportation Services • Architectural 8~ Engineering Services • Higher Education & Hospitals • Wiring Devices & Switches REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATTING JACKSON KERCHER ANGLIN ~ 2 SeminoleWay Industry and Facility Analysis -Executive Summary Cross-Cutting Recommendations and Observations: Clusters The objective of the empirical cluster research was to identify a few industry clusters with an existing foundation, and synergy with regional growth and strengths. The interviews and background research extended these goals to identify the feasibility of promoting core clusters as a long-term economic development strategy that complements, but does not compete with, other regional efforts in these clusters. Four "core" clusters were identified that met these criteria: • Financial services and information services • Digital media including modeling and simulation, film and broadcasting, themed entertainment and animation/game development • Life sciences including biotech and medical instrumentation • Technical and research services including civil and environmental engineering and to a large extent architectural and engineering services Based upon the research, we further refine the recommended strategies for the core clusters as follows: Green biotech: the intersection of plant-based biotech and biofuels research and production. For the life sciences cluster, focus on the availability of a wet lab facility for small businesses, providing cluster-specific ongoing training and seminar resources, identify and foster intermediary manufacturing solutions for enzymes, pharmaceuticals, and other biologicals to encourage local growth and retention, build shell facilities to support build-in biotech/life sciences companies, and develop a zoning and construction plan for additional greenhouses and dedicated agricultural property to support plant- based research and development, research trials, and contract and intermediary manufacturing of biologicals. Develop a cellulosic enzyme production strategy to support Florida's growing ethanol biofuels industry in partnership with UCF researchers and major blended fuels consumers such as FPL Energy. Green Buildings: a starting point for the region's technical, civil, environmental and related engineering services industry, which constitutes much of the technical and research services cluster. This is a desirable cluster in terms of wages and growth, but its growth is largely driven by local development activity. Given Governor Christ's endorsement of Green Building concepts and the relative lack of LEED-certified engineers in Florida, a consortia-based approach to reducing the costs for local firms to certify their engineers can help to reduce import of LEED-certified engineering services and increase the ability of local firms to compete for projects both inside and outside of Florida. The financial services /information services cluster will benefit from continued support of the Heathrow /Lake Mary region. However, for purposes of the Seminole Way corridor, an increased focus on smaller companies (10-40 employees), an extension of efforts Eastward along Lake Mary Boulevard, and along-term plan to map, improve, and promote quality REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATTING JACKSON KERCHER ANGLIN 13 SeminoleWay Industry and Facility Analysis -Executive Summary broadband /wireless telecom, power, and transportation infrastructure in that area will help to increase the attractiveness and competitiveness of that area for financial and information services companies. The digital media media cluster has tremendous potential for the region. A strong incubation and small business support strategy will most complement Orlando's developing Creative Village concept and the Florida Interactive Entertainment Academy (FIFA), particularly as there is evidence that much of the industry is characterized by freelancers and home-based service providers. The strategy for this cluster should support the recent Digital Media Banner Center awarded to Seminole Community College, and extending its services and benefits to other SCC campuses. This cluster will also benefit from services and resources to help freelancers and small businesses convert and stay abreast of the latest digital /high definition tools and standards. This cluster may also benefit the most from the availability of an incubator or other shared facilities supporting very high Internet broadband capabilities and perhaps shared computational/rendering farms and audio/visual studios. • The Orlando-Seminole International Airport is potentially a tremendous asset to the Seminole Way region. However, its potential will remain largely unfulfilled from an economic development standpoint unless its portfolio of national and intemational direct flights can be significantly increased. Its value for the core clusters includes: • Access to clients and markets and other business units by the financial services sector. However, most travel in this cluster is probably focused through the Orlando International Airport. • Flexible building shells for the life sciences /biotech cluster. • Hobby /executive pilot resource for all clusters. Business /office park property near the airport will be attractive to corporate CEOs, founders and entrepreneurs with active piloting interests. • Available undeveloped property Each of the "core" industry clusters discussed (life sciences, digital media, financial services /information services, and technical /research services) identified broadband Internet connectivity as a competitiveness factor. For life sciences and technical /research services, this is probably mostly a matter of preference that will be addressed by market forces (they will pay for what the level of connectivity they need). However, for financial /information services and especially digital media, broadband connectivity can be a "make or break" competitiveness issue in the next ten years. Financial services products and transaction processing are increasingly reliant upon Internet connectivity, and trends within this industry are toward globalization of business processes (geographic distribution of business units) that require spotless and continual broadband connectivity. Perhaps most important (anecdotally) is the perception of overall consistency and quality of all telecommunications services available to this industry versus ubiquitous broadband availability. REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATTING JACKSON KERCHER ANGLIN 14 SeminoleWay Industry and Facility Analysis -Executive Summary Digital media companies will have the greatest, and fastest growing needs for connectivity in order to communicate with clients, deliver large, dense media content, to stream audio and video, and even for remote processing and computing tasks. Increasing the broadband connectivity for a building can vary tremendously by location and service provider, resulting in 3-10x increase in costs for both infrastructure (cable and fiber) as well as monthly service. In consideration of these costs and the fact that much of this cluster consists of small companies and freelancers, the best strategy may be to: Create a county "broadband map", including which buildings already are wired to 1000baseT ethernet, the location of fiber trunks (connecting a building to a trunk across the street or further can cost an additional $60,000 or more), and which buildings already have OC-3 or greater connections. Build up a few "islands" of broadband, including a business incubator and possibly a few other multi-tenant office buildings as supported by demand with OC-3 or greater connections. These buildings may require inexpensive cellular repeaters to further support ubiquitous connectivity. It should be noted that 802.11# wireless "hotspot" availability was not identified as a significant issue for any of the interviewed clusters. Land Use Analysis Figures and Tables The figures and tables referred to within the Land Use analysis section can be found in the full SeminoleWay Industry Analysis report. For ease of use, figures 1, 2 and 6 can be found immediately following this executive summary. Study Corridor and Methodology The Seminole Way study corridor generally runs one mile along either side of the SR 417 from the county boundary on the south to Interstate 4 on the north (See Figure 1). The section of Interstate 4 between the south side of Lake Monroe and CR 46A is also included within the study corridor. The corridor goes through the cities of Sanford, Winter Springs, and Oviedo and Seminole County. In terms of evaluating development opportunities, the analysis looked into properties that can be reached within a 1-mile drive of interchanges along the study corridor through the existing roadway network. Additional areas of potential development opportunities were considered in the areas north of SR 46 and east of Interstate 4, and along the Lake Mary Boulevard Extension. Composite Future Land Use Map The Seminole Way Corridor includes a variety of future land use designations. Within one-mile of the corridor, the majority of land is designated for commercial and office uses, mixed-use and planned development (PD), and residential land uses. REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATTING JACKSON KERCHER ANGLIN 15 SeminoleWay Industry and Facility Analysis -Executive Summary On the north and south sides of the Lake Jesup shore, SR 417 is flanked by properties that are designated recreation, conservation, or conservation overlay land uses. On the north side of Lake Jesup, and within the City of Sanford, a substantial portion of the corridor is lined on both sides by properties under the suburban estates designation. Office, commercial, PD/mixed-use, and higher intensity PD designations are generally located around interchanges between SR 417 and major arterial roadways, near the Sanford Intemational Airport, and near the Interstate 4 interchanges. Figure 2 is a generalized future land use map comprised of future land uses from the partner jurisdictions. Transportation Network Figure 3 is a map of the Seminole Way Corridor and the system of street network that connect to it. SR 417 provides regional mobility benefits to Seminole County and the rest of Central Florida as an alternative north-south corridor to Interstate 4 and US 17-92. However, more importantly, it provides tremendous highway accessibility benefits to the county's residents, as it connects key activity centers such as the Lake Mary business parks on its northern terminus, the Sanford International Airport around its midpoint, and the University of Central Florida area on its southem end. Highway access points have traditionally been the first areas to develop and redevelop along a limited access highway. In terms of the Seminole Way Corridor, these access points are provided around ten interchanges on the SR 417 and Interstate 4. Interchanges are located at an interval of 1 to 2.5 miles, except where SR 417 crosses Lake Jesup. The network of state and county roadways that link to Seminole Way are important corridors that will facilitate and serve future growth. These roadways include: US 17-92, Orange Boulevard, SR 46, CR 46A, Lake Mary Boulevard, Airport Boulevard, CR 427, and Lake Mary Boulevard Extension in the City of Sanford. In the Cities of Winter Springs and Oviedo, SR 434 and Red Bug Lake Road are important roadways that provide direct access to SR 417 and connect these cities to the rest of the county. Lastly, Aloma Avenue (SR 426) is the County's southern gateway for residents and visitors using SR 417. Environmental Constraints Future development and redevelopment efforts along the Seminole Way Corridor will need to consider the environmental conditions along the Corridor. Figure 4 illustrates the wetlands, designated environmental protection areas, and conservation overlays designated by the different jurisdictions' Future Land Use maps. The city of Winter Springs and Seminole County both have a conservation overlay FLU designation that calls for additional review and analysis prior to development. Both jurisdictions' comprehensive plans suggest that the conservation overlay designation is not intended to prevent development, but rather is used to identify sensitive areas that need further review to determine the extent of allowable development and the needed mitigation. If the conservation overlay area is determined developable and all mitigation requirements have been met, the underlying land use on the FLU map will apply. REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATTING JACKSON KERCHER ANGLIN 16 SeminoleWay Industry and Facility Analysis -Executive Summary The majority of the properties around Lake Jesup and Lake Monroe are wetland areas and has been designated as conservation overlay areas. Smaller wetland areas are scattered throughout the corridor and sporadically along the Seminole Way Corridor. Development Opportunities A detailed parcel-level analysis using GIS software was conducted to determine the extent and location of development opportunities along the study corridor. Properties that can be reached within aone-mile driving distance from interchanges using existing roadways would benefit most from the corridor's visibility and access are therefore considered key development parcels. The following criteria were used to further define the actual development opportunity among the one-mile network parcels: 1. Properties have to be one acre or larger. 2. Properties have to be either totally vacant or underutilized. Vacant properties are identified based on county-provided GIS data. Underutilized parcels are those parcels that have improved values of less than 40% of total property values (land plus improvement values) based on data from the County's property tax appraiser. In addition to analyzing properties that are within aone-mile network distance of interchanges, two additional development opportunity areas were identified. The first area includes properties that are generally within the comprehensive plan-designated Sanford I-4 High Intensity PD area and the County's Higher Intensity PD area. For the purposes of this analysis, this potential development area is called the "SR 46 HIP Area" and includes the properties bounded by Interstate 4 on the west side, the CSX rail line on the north side and SR 46 on the south side. This subset is further screened by the same two criteria used for the one-mile network development opportunity around interchanges (see previous paragraph) and excludes properties that are already previously identified in the first subset. The second potential development area is made up of properties that are within a mile of the Lake Mary Boulevard Extension. This area is considered a potential growth area because of its proximity to the airport and the access benefits provided by the Boulevard. As with the "SR 46 HIP Area", the development opportunity is made up of parcels that are one acre or larger and vacant or underutilized. Figure 5 illustrates potential development opportunities, made up by vacant and underutilized properties, along the Seminole Way Corridor. Figure 6 shows the development opportunity areas grouped by interchange areas and growth areas. The development opportunity around the interchanges (not including the SR 46 HIP Area or the Lake Mary Blvd. Ext. Area) total more than 3,600 acres in land area. Of this, more than 60% are underutilized properties and less than 40% are vacant properties, in terms of land area. Close to 70% of the properties are between 1 acre and 5 acres, and around two thirds of these are underutilized properties. Among the different interchange areas, the cluster around Rinehart Road/SR 46 and around REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATTING JACKSON KERCHERANGLIN 17 SeminoleWay Industry and Facility Analysis -Executive Summary US 17-92 offer the largest land area of development possibilities with close to 1,000 acres of vacant or underutilized properties. If the additional growth areas (SR 46 HIP Area and the Lake Mary Boulevard Extension Area) are considered, there is an opportunity to develop or redevelop up to 8,000 acres of properties corridor-wide, doubling the total development opportunity existing around interchanges. The bulk of the development opportunity is concentrated near the airport along Lake Mary Boulevard Extension. Of the total development opportunity, two-thirds are properties that are considered underutilized and a third, or around 3,500 acres, are currently vacant. Of the total 1,100 parcels that make up the total development opportunity, almost 60% are between 1 and 5 acres in size. The rest are properties that are larger than 5 acres and make up almost 80% of the total land area of potential development. The results also show that more significant development opportunities exist around interchanges and key anchor areas (the Sanford International Airport and the Lake Mary office parks) north of Lake Jesup than on the corridor's southern segment. When combined with the additional growth areas, the northern segment accounts for more than 80% of the development opportunity in the entire corridor. This first series of analysis does not take into consideration any environmental considerations and includes properties in all FLU designations. Future Land Use Designations of Development Opportunity Areas Figure 7 in the fuil report shows the potential development opportunity areas and their future land use designations. The map shows that a majority of the large parcels identified in development opportunity areas are under a mixed use or planned development (PD) designation. Clusters of smaller parcels are located in areas designated commercial and office use. Along the northern shore of Lake Jesup and near the airport, some parcels considered redevelopable are under the suburban estates FLU designation. Land Use Conclusions The Seminole Way Corridor has significant opportunities for development and redeve/opmenf. An estimated 8,000 acres of properties are ripe for development and redevelopment along the Seminole Way Corridor, around the SR 46 HIP area, and along the Lake Mary Boulevard Extension. These properties are made up of parcels which are currently vacant or underutilized and are larger than one acre in size. Along the SR 417 corridor itself, and immediately around interchanges, around 3,600 acres of properties are considered ready for development/redevelopment. REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATTING JACKSON KERCHER ANGLIN 18 SeminoleWay Industry and Facility Analysis -Executive Summary • The Development Opportunities are concentrated around key interchanges and anchor uses north of Lake Jesup. The higher concentration of interchanges along the Corridor north of Lake Jesup allows for more parcels to be targeted as potential development opportunities. Additionally, the presence of the Sanford International Airport and the concentration of professional business parks in Lake Mary further strengthen the possibility for development activity in the SR 46 HIP Area and along Lake Mary Boulevard Extension. More modest development opportunities with smaller parcels of underutilized and vacant properties can be found south of Lake Jesup. • The environmental considerations could substantially impact the potential development opportunities along the Corridor. When screened for potential environmental constraints, the total acreage of developable and redevelopable properties was reduced to 3,300 acres, less than half of the original potential development opportunity subset. Although this is a relatively conservative approach to determining development potential, the study team feels that without a detailed analysis of the nature and extent of the environmental constraints, this figure more accurately quantifies the early phase opportunities for the Seminole Way Corridor development. A next-step study can be undertaken to more clearly understand the limitations that are brought by the environmental conditions, especially those around Lake Jesup. • Existing future land use policies of the County and the partner municipalities are supportive of the Seminole Way Corridor future goals. Comprehensive plan policies and future land use maps from all the partner jurisdictions generally support and allow the types, patterns, and densities of development of the industries targeted for the Seminole Way Corridor. All the jurisdictions call for some form of mixed-use development, planned development, or commercial and office uses around the corridor's interchanges. Around the airport and near the SR 46 HIP area, the County and the City of Sanford also have policies encouraging mixed-uses, light industrial uses and planned unit developments. As a next step, the County and the partner municipalities can incorporate stronger policies specific to Seminole Way and its implementation as part of their comprehensive plan updates and other policy changes. The goals of the Seminole Way Corridor should also be included in vision plans that are developed for areas along the corridor to reinforce the vision and provide guidance to the private development community. Lastly, a concerted strategic planning effort involving various jurisdictions can be conducted to more clearly understand and carry out the necessary regulatory changes to implement the goals for Seminole Way. • The majority of the parcels that are considered ripe for development are underutilized properties and not vacant properties. Because of this, additional incentives may be necessary to encourage redevelopment. REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATTING JACKSON KERCHER ANGLIN 19 SeminoleWay Industry and Facility Analysis -Executive Summary Jurisdictions can explore various incentive strategies to promote the properties' redevelopment to high-technology and high growth industries. These incentives may include assistance for providing infrastructure (i.e. new roadway connections), streamlined permitting processes, and interlocal agreements between partner jurisdictions to assist property owners that abut or straddle jurisdiction boundaries. • A strong partnership and coordination between jurisdictions is necessary. This feasibility study is a great start for the various jurisdictions to come together and define the future vision for Seminole Way. As the program continues and changes in the regulatory framework are made, an even stronger partnership and coordination is necessary among the different jurisdictions to ensure the Corridor's success. Next Steps RERC recommended next steps include: • Completion and further interpretation of spatially specific land use, traffic and supporting infrastructure analysis at the SR 417 interchange and parcel specific level. • Identification of secondary requirements for housing, retail or other support facilities consistent with the demands of development expected within the targeted industries. • Further description of the competitive environment for the SeminoleWay targeted industries. • Review of existing economic development SeminoleWay marketing plans and evaluation of alternatives for long term SeminoleWay marketing initiatives. • Evaluation of existing economic development and incentive policies and proposed modifications as they relate to the SeminoleWay targeted industries at specifically identified locations. • Identification of key persons responsible for marketing initiatives and formulation of SeminoleWay progress benchmarks. REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATTING JACKSON KERCHER ANGLIN 2() ~: ~ ~ , Lake Monroe ,i ~~ j ~ ~ l L~1~'!~ ~\ i ~~ I_ r ~ ` I I v` / ~,.:i~ ~r lr~ - 7 _ ~ L i ~-: Ili I ~~ - I li ,i .~. r i ~~,~ ~ ~I r,~,~}t` ~ ,~ ~! 1 _ ~~ f~~r~~ ~ City'of5anford __ J4 ~ ~y I ~ i ~ _ ~~ , ,, , ' ~1, ~ - ~ F- L bI";= F i~ ~ ~ 5 --~y1 ~Pi J ~ ~- ~I 'y ; ,fL- ~I L --~ '-'~`' Y ~,1 fit,, } ~ ~ ~t ~r~~,,~~ ',~ - i, ~ ~~ ~ !~ ,~ J _ ~ ~ ~ City of Lake Mary ~ ~ ~ ~ ~ ~ "~ ~ ` ~ ~' ~ +fr' ~ ~~ m - ~~ Irt r ~~ I l ~) ~ ~ / f, ~ L ~ I /r -' i ~~f~~ ./ , P ~ ~ ~ ' N _ 2 _. `J`-' : -~ ~ S GENJCHIJiCHIN NPK ~ S9 ff ~.~ ~1 r ~ ~~ ~ R '-'" ~~i' I ~ ~ ~ Gp ! t\ .~ ~ • , ~ ~ '~ ~ _ ~C 1 ~ ~ ~~ i fCongwood )~; t • ~ t~ r -~ ~ Gty o ~~ t ~ ~~ ~ - _ - ~ ~. , ~;~ x, ~ II y i1 ~ ~ rt ~ ~ ~ l1~ ~-~..~. 1 ~(1~ ~ `'~~ ~_ ~~i l~ 1~ "` U i. , ~,,,y ~~ ; , ~ .~ ~ ~rGty of,Winter Sp mgs Gt ofCa'sselherr~ ~ ~ ~'~4 ~.~~ ~ i ~_ ~ y~ 'y~, )~ ~~ ~ I i - NQ' ~ .n _ - ~ ~ i yy ~ J ^~ ,nom, e ~~~ ~- f ;~f ~},~ ~}~ ~` ~,`~~vPe~ ~~ ~. ~~ ~ ~~ ~ t ~ 1 ~ ~., ~ -'-! ~ .. I~~ SR 126W ~~~_ '~ '~I li--a~_iC ~ nJ .. - }~.~ ~~ ~~ f Y ~ ~_ NORTHERN WA=~ i _ ~T-~ ~ ~ ~ ..t ~` - r r. ~~ ~ ., ~ ~ ~~ ~ik~ ~~ ~' ` . ~ ~ ~(~~y{ ~ , ~~ ~I ~ ~ ~ fTCHELL NFMiv10 K O -. F ~ ~ - E ~i ~ _ c.- ~ il-.- C - r`1 _... T ,i i LEGEND -~ - o J :~ Incorporated Areas ~` ~ , _ J ~~~ r rJ.r ~~ v L ~ r~ Seminole Way Study Corridor ~ ~, i ~ L ' ~ ~ ~ ~~ U ~ ~ IJ i ~i J 0 OS 1A 2.0 Miles J { ,~ ? ~~ `~ ~~ J '`_^. I ® ~ , ~~ ° { _ ~OUNZY.Lf I Figure 1: Seminole Way Study Corridor Data Source: Seminole County ~y~~ < <. Zvi ~iposice ruture Cana use Map Data Source: Seminole County, Cities of Sanford, Winter Springs and Oviedo ~' Lake Monroe SR 46 HIP Area -~ . I R4L F ., ~. ~ ~r^^ ~ 6R SEMIN Y ~_, ~ r- _, ~7~ k Z.~ r. n ~. ~~- _ .~ ^ ~ i Figure 6: Development Opportunity Properties by Interchange and Growth Areas Data Source: Seminole County Picture. SeminoleWay Industry and Facility Analysis -Draft Land Use Analysis Study Corridor and Methodology The Seminole Way study corridor generally runs one mile along either side of the SR 417 from the county boundary on the south to Interstate 4 on the north (See Figure 1). The section of Interstate 4 between the south side of Lake Monroe and CR 46A is also included within the study corridor. The corridor goes through the cities of Sanford, Winter Springs, and Oviedo and Seminole County. In terms of evaluating development opportunities, the analysis looked into properties that can be reached within a 1-mile drive of interchanges along the study corridor through the existing roadway network. Additional areas of potential development opportunities were considered in the areas north of SR 46 and east of Interstate 4, and along the Lake Mary Boulevard Extension. REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATTING JACKSON KERCHER ANGLIN 61 -u:' ,` ~ ~ Lake Mortrot ~ - ~ ~J i~ ~~, xn~~r ~- ~, ~ ~ ~ _ ~- ~,~~ , , ~~'~ t ~ a ~~` r Fr ~~ a -~ ~ ~ ,' ~ ~ r 3 ~ \ ~~ ~ J ., C ity of.5anford b ;, ~~_-_ Gty_of-Lake Mary t ~ ~ ,~.~- ~ ~ i ~ C ~ r. __. .T. ~ % -- -~ " J ~ n .- ~ ~ ' f ~j ~ ~ i ~ . - 1i ~ ~ ~.°' - -~ - ' ~ _ ~ ~ 7 '` ~ -~ ~ it o , ~°".~ -~,: - ~.. ~. ~ ~ (' ; ~ _ -,~ ~~ ~~ ~ - U i ,~ ~, ~.~~ \~ ~ GENICHUTCHIN NP1C _ ` ~ f~ -?~ , ' ~ - _. ~ - =_r, v r' ~ , ~ ~ pig. ~ke Jesup L Longwood Y Cif of ~ ~ `, i ~~ f,?~Il~ ~ I n_ ,~~ ~' i i ~ l ~ ~ ~ i ~` ~~ ~ ~~' l -/ _ ~ ~ ~ ~ _ ~ r_1_ t i i _ j~ ~ - ~Y~ ~~~ i l l ~ i ~ ~~~ ~ ~ ~ p I ~ C -,~, . t ~ r~ r ~`~ ~~ ?'~ ~.Gtyof,WmterS ~ ,~ 1~,`~ rings .. ~ ~, ~ " { '` 4~ ~ ~ ~ ~ r ', _. .':.~ t ~'- _ City of Ca sselberry - --~ ~' ~ i ~ ~ ~ ~~ ~ ~ ~ C _ ~ .. f, r r ~ ~~ r J- riT11 , ~ i - C ~ SF ~Iff~ y OLA B 3 ~~ , Y i ^ wa; ~' ~ ~ - ~ _ ~~ ~ _ _ ~ 'r y~C~ Of - veo ,~ ,- _~~~r~ ~~. u. . , ~ r ~~r ~ ;. ~ s ~6~ _ , r + ]y S ~ 1 ~ _ ~ i ~ }~ ~ ~~ ~ 1 l . - ~ ~ ~ r / [ ~~ ~ ~' ~ ~ ( k _ ~ ~ I ~J _ rffCHELL KRD. i J ~ ~~~ ( E r-~ ___~"-~ FiI ~ 1 _ ~ Iii?: L ~ _ ~ J - ~. i LEGEND u _ ~- 1 _ r -, - ' , L- c 1 - ~ t ~ ~ ~ r ._.-._ ~ ~ Incorporated Areas _ ~-*; L ~ ' ~ 3n1 II ~I Seminole Wa St Corridor ~ y ~y L~~ \ f a , ~ ~ r - ~ ~ ~ ~~ ~~ ® ~ ,. v f ' IJ ~ I ~ ~J `\ ~ r ~~ 0 OS to LO Miles - _-~ 1 Figure 1: Seminole Way Study Corridor Data Source: Seminole County SeminoleWay Industry and Facility Analysis -Draft Composite Future Land Use Map The Seminole Way Corridor includes a variety of future land use designations. Within one-mile of the corridor, the majority of land is designated for commercial and office uses, mixed-use and planned development (PD), and residential land uses. On the north and south sides of the Lake Jesup shore, SR 417 is flanked by properties that are designated recreation, conservation, or conservation overlay land uses. On the north side of Lake Jesup, and within the City of Sanford, a substantial portion of the corridor is lined on both sides by properties under the suburban estates designation. Office, commercial, PD/mixed-use, and higher intensity PD designations are generally located around interchanges between SR 417 and major arterial roadways, near the Sanford International Airport, and near the Interstate 4 interchanges. Figure 2 is a generalized future land use map comprised of future land uses from the partner jurisdictions. Future Land Use Policies This section of the memo describes the various policies in each jurisdiction related to future land uses along the Seminole Way Corridor. A review of comprehensive plans from the various jurisdiction, reveals that aside from including language that pertain to densities/intensities and uses allowed within each future land use (FLU) type, each jurisdiction also has general policies that address the land use expectations around SR 417 and Interstate 4 interchanges. In general, the current comprehensive plans allow the types of high-technology and high-growth industry land uses intended for Seminole Way. In most cases, these land uses will fall in future land use districts that call for planned unit developments, mixed-use developments, commercial, office, and light industrial uses. Seminole County's Future Land Use Policies Policy FLU 5.6 on Higher Intensity Planned Development (HIP) Purpose: The Higher Intensity Planned Development (HIP) land use designation is designed as a mixed use category which combines an aggressive strategy to attract specific "target industry," minimize urban sprawl, provide affordable housing opportunities, and alternative transportation strategies. Table 1: Seminole Countv Future Land Use Categories FLU Density/ Uses and Conditions fntensity Rural Residential 1 du/3ac ~ Single-family residential, agriculture, churches, public elementary schools, country clubs (over 10 ac in size), recreational uses, and some institutional uses Suburban Estates 1 du/ac ~ Detached single-family homes, general rural uses, public schools, and some institutional uses Low-density 4 to 7du/ac ~ Detached single-family homes, public schools, and some Residential institutional uses Medium-density 10du/ac ~ Single-family homes, patio homes, duplexes, multi-family Residential units, mobile home parks, public schools, some institutional uses, and conversion of residential uses to professional offices High-density Greater than ~ Condominiums, town houses, apartment hotels, lodging Residential 10du/ac houses, motels, some institutional uses, and public schools REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATTING JACKSON KERCHERANGLIN 63 '~~ I '~• ., ~, ~' Citypf L'nke Mory ~ \, ~ _ ` ; ~ - ~ • . ~} -, ~>_:~ :~> _' ~ '. } . ~^ x ~ -- qq -~ CS ~ r.-- ~vl ' ., ~,• ~ ~ .*_ i I. ' i~,~ -'., I~~...~ ~ - `` .. n ~. ~ f . ,~ ~ ~' ~~~ ~~~ ~ o ~ V i ,~ , +~ ~~a_ ~~: ~ ~ J ~ _ ~ 8 ~ , ~ o , u ti - , ' ~ ~ ~ + t ~ ~ ~ ~ _ GJ f ' I li ~V1 J ` ~ i ~-• •` ,}:4 GENJCHUTCHINa NPN ~ '• ~ " yc __ ~ ~ I 3" . ~~- ~~ '~'~ x ~ i~ :;_ s>-J ~I ~ ~ ~ ~-t r„ ' ~ ~ ~,~ LakeJewp 9 ~ r ~~ . ~~ ,, ~ ~ ~1., ~ C-t ofL ~ ~ _ y ongwoo ~_, n d ~ ~ 1~ t~ ~ k-`~, _ - ~ , ; - ~~ ~ ~ ,:,I~ ~ ~~ ~~ ~~ ~ ~~ - ~ ^,r, , :waY of~W-nter Spnngs ~~~ ~ ~ C-tyofCass l6er l '' ~ ~ R ~ '~ ~ _ e ry i ~ ~ ~ ~ a ~ ~~~ .a ~ ~. ~ ~ FUTURE LAND USE ~ I ~ ~ ~ I" ~ _ ~ 1~•'~~ ~ r ryry----~~ i •:• :..al Conservation Overlay ~, ~ ..i; i~ ~ \ ~~~ `~ 1 ~ - ~ ff L , ' :~1~' ` ' ' ~ _~Ii„jam ~ t, ~1 - V 2 0`" F ~ `' / ' Recreation COIISerVatlOn ~_ '- Y . 1 i a., ~\ ~ -11 r ~I 1 1 I / ~ E~ - ~ ~ •~, ? ; ~ '~-+',~ 'f 5 6 ,^~ ~`. ~ Public d ~ 1 ,~ f ~ ~. ff I~ ~~ NOIYTHERN YL~ i i`r~~ ~ ~I"~ RuralResideMial ~~ P._ i $ ,- -- r ~ S4burban Eststes ~ ~ `1 ~ > ~: q , I II i G~ k ~ 1 Low Density Residential r -. r ~ ~' Tf r S ~ 11T Hf1! ~ ~ r Medium Density Residential .. ' R ' ~ f ~ !- ~ \ ~- .High Density Residential ~ - i ~'~ ~~ ~ ~ ~' } ~~~ ® Planned Development/Mized-Use ~ J ~ A r et_ ~ '~ ' ~_ ~, i .Office r-~ ,-'~ , 7 -~ ~I ~_. (f ~~ ~ I i `` t ~ ~~'~ ~ ~ Commercial r '` - i ~ ~ ' I ~ ~ ; ~, ~~ industrial ~~I ~ { .. '-'•~~]3 Higher Intensity PD/Mixed U cttl ~ ~ ~ _ ~ ~ se ~ • I ~ ~ _ ' J `Y } ~ 0 0.5 1.0 2A Miles ~ ~. ~1~~ ~ ~ e?"'?•' r I ~ ~ I_ I ~ i - _ 1. ~ _ Figure 2: Composite Future Land Use Ma p ~ -` Data Source: Seminole County, Cities of Sanford, Winter Springs and Oviedo (~-.: !- I, ^ 1.11 - 1{ -- ,° -_- _ } - _ II ~-. ~ f _- _ Y (r i _ ~ ~ hh ~_ ~,~~ {:f _ a{ - ~ ITT ~ -SCR 415 > -. ll ~ t ~ ~ i - ? ~ .:~ ~~ r~-"'~ :r ~ r ~ r 1 T~ I I 7 L~ / y l ~ ~~ ~ ~, -~~~ • ~ " ~y ~. L 1~ I i ` City~of°.Sanford _~ ~. -Ll ~, r ~ 1 }" 7 ~ k1 r •;;-~ ~~ ~ ..~ J ~ r jLJ~ r-• }, I ~ _~ t -, i y City of Lake Mary ~ ~ T ~ . I '. , +~ I °. I `" , .~ T ° ~ -~ ~ ~ ~ ~ ~- ~ Li _ ~~ • L R ~ _ r~ ~~ - f .~ ~ ~ ~_'~ I r', u._J ~ ~ 1 i , ~` ~ J _ ~ J ff ~~ t J _ rye :'y -~-~.~8 i-1' ~ , ' ~"i1''~ .. ~...~z _ r ~ _ 7 - ~~' ~`F~ ~ 3 I r i~~ _ Je . ~ (- ~ ~ ~ _ , I ,~ ~ 1~ _ ,° ~ ~~ ~ >_ ~ ~ ~ ~ - 1 - r ~ '~En~'cHUrcHi ~:,NF s-~ ~ -t ? Y ~~~ ~, '~ c , ~ ~ ~ ~ > ;, pig Lake Jesup r~~~ X17 ~' - ,~ i'D "h ~} °. 1 ~~~ a CltypfLongw od~ _ ~ ~~ '~'` ~ ~ - d ~~ `~t ~ E~ --1 -t ~~ _ ~ ~~ ~ T 1 + iT _ i 11 F1~' ~ ~. .~ -`1 J- ~ ~~ -z }} - -~ ~+~.~- ,~-~ ]~ ~ CrtyofWlnter5prulgs _ - i '~ cad r ::• ~k 't y -c. - .ice., ~ ~ }~_"1 r ~ - Cl t O o,, ; 1 y--_ _ ~ y iCassel(ierry __+~r - ~ 's- _ ~ `~ ,~+~~a ~?~ ~~ ~ '-ii~~l~ ~.~_ - F ~ r~ ~7 1 `~ _, C t 1_ ~7 ' -~ ~ .: FUTURE LAND USE ~. ; L'\.. ~ ~ ;!~ ~~ ,~ ~ 7J~ ~~h~' ~---'~ 1k !' ~-- - CIty~OJ~~ -I -%~ F 1- h ~ ~ ~ » ~t _ oVieao-~1- Conservation Overlay ~ .~ (~~ ~ " -(1 '~ r, f _ t '~. SR 426W Recreation ~ ~ ii~ii~ '' ~~ -~ v ~ i voierHti r. ~. _ ~'~-- Conservation I~ ' ~ `~ ~ y'-r - I ~ _~ Public - r ~' ~ ~~ t] ~ ~ ~ ~ ~y ~. ] ~ , ~ ~ - 0 Rural Residential ~ sv ~~~~_, •' !- G ~; i1X ,, -~~ ~~] ('lam ~ ~ IT~HELLH~M~OO CK RD 0 Suburban Estates ~ ~` _ ~+ ~ r~~~ _ m ~ Low Density Residential F- ~ ~~ ~ ~,~,-1~~ ~ ~ 3~ - i l Hi 6DenttnsResdentaltial ~ _ ~, i ~;-t :. ~~ ~ . ~ ~ `:~ IE~.__, 1 ~. _ ° r~ . _ k:~_J Planned DeveiopmentlMixed-Use ~ f Y ° ° i ~ ~ ~ ~ ~ - I ~- Office I i i ~~~ ~~ i"~ ,. c-, ~ I ~ ~ ~ ,~: l ~ _ Industrial i` ~ ti r -',"- ° _ }~ l ;3vt~~ u j 5 i I _ Higher intensity PDI Mixed Use ' ~ i ~ ~' ~ L -~ ~__ ° I 1°_ 1 r r , ~_ ~ _,.,~.lr-'- '1 c i ~Lf~P®1 ~ _ ~ u~ ~ ~ 0 0.5 LO 2.0 MJes ,. ~. - t, . ~~" t , ° { _ .a;:-:{ _--~_R°, _ ('.E`J-, COUNT LIN w~: r\ . ~ :. i ~ ~ . Figure 2: Composite Future Land Use Map Data Source: Seminole County, Cities of Sanford, Winter Springs and Oviedo SeminoleWay Industry and Facility Analysis -Draft Table 1: Seminole Countv Future Land Use Categories (cont'd. FLU Density/ Uses and Conditions Intensity Office 0.35 FAR ~ Conversion of residential structures to professional office uses, general office development, libraries, laboratories and day care centers, public schools, and other institutional uses Commercial 0.35 FAR ~ Neighborhood convenience store, shopping centers, retail sales and commercial services, highway-oriented businesses and outdoor advertising, amusement and commercial recreation, day care, hotels and motels, and institutional uses Industrial 0.65 FAR ~ Light manufacturing, distribution and terminals, automobile shops, warehousing, wholesale greenhouses, lumberyards and machinery sales, trade shops and schools, medical clinics, publishing plants, institutional uses, stockyards, public schools, adult entertainment establishments Mixed Development Res: 20 du/aC ~ Residential uses (single-family and multi-family), commercial, Comm & Ind: 0.35 office, hotel, service, very light industrial uses, and on-site FAR facilities such as utilities and recreation areas. Office: 1.0 FAR Planned Varies ~ Mixed uses of residential (varying types and densities), office, Development commercial, industrial uses, public schools, utilities and recreation areas At least 25% of site should be dedicated to recreation and common open space Minimum of 10 acre sites Higher Intensity PD, 20 du/ac ~ Mixed of uses including commercial developments, corporate Core and Transitional 0.35 FAR business parks, office complexes, industrial parks and attendant Areas retail, commercial, service, and hotel uses, public schools, and medium to high density residential uses Higher Intensity PD, 20 to 50 du/aC ~ Basic industry with regional market including those listed by the Target Industry 1.0 FAR County as Target Industry Uses (See Table 2) High growth industries such as information-based and health care businesses; Manufacturing, distribution, industrial and rail dependent uses located in the Rand Yard Area High density residential uses and low to medium residential uses as buffer from existing residential subdivisions Commercial uses located adjacent to the Seminole Towne Center Mall, located along major roadways, and as an accessory use to office uses Public schools Higher Intensity PD, 50du/ac ~ Industrial parks, corporate business parks, office complexes, Airport 1.0 FAR commercial developments and retail, service and hotel uses, medium to high density residential uses, and public schools PubliClQuasi Public Varies ~ Public and private recreation, education and library facilities, public schools, public safety facilities, and utility and transportation facilities Recreation Varies ~ Public and private recreation and open space Conservation Varies ~ Wetland areas and 100-year flood plain areas, public and Overlay privately owned open space, recreation and water management areas, game preserves and wildlife management areas, agricultural and silvicultural uses When adjustments are made (demonstrating that certain properties are neither a wetland nor a flood prone area) or measures are made to mitigate impacts to wetlands or floodplain, the underlying land use designation as indicated in the FLU map will prevail REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATTING JACKSON KERCHER ANGLIN 65 SeminoleWay Industry and Facility Analysis -Draft Table 2 shows the "Target Industry Uses" outlined in the current Seminole County Comprehensive Plan. Other industries may also be considered Target Industries if they meet the criteria of being a basic industry and providing jobs at or above 80% of the County's average annual wage and are consistent with the terms of the County's Jobs Growth Incentives Ordinance. Table 2: Seminole County Target Industries Office Uses Manufacturin Hi h Tech • Associations Plastics and Commercial Research & Development • Publishers Printing Space Technology • Law Firms Electronics/Mechanical Simulation & Training • Certified Public Accountants Assembly Laser Technology • Headquarters Film & TV Support Robotics • Auto Parts • Computer Software • Fasteners/Spacers • Computer Hardware • Construction Products • Testing • Food Processing Medical Labs • Machinery • Telecommunications • Transport Aircraft • Maintenance and Modification • Aircraft Manufacturin Distribution Financial Services Other • Food Products Data Centers Long Stay Tourism • Consumer Products Insurance Hotels & Lodging • Restaurant/Commissary & Banks Hospitals • Portion Control • Claims Office Sports Associated • Airline Services Fulfillment Centers Industries • Aircargo/Mail Services Business Services International Trade • Film & TV Support Health Services • Durable Goods Distribution Engineering • Non Durable Goods • Distribution City of Oviedo Future Land Use Policies Policy 1.1.27 on Seminole Way: "A regional commercial, business, and industrial center shall be promoted within the general area lying within a 5,000 foot radius from the intersection of Seminole Greeneway and Mitchell Hammock/Red Bug Lake Road." Table 3: City of Oviedo Future Land Use Categories FLU Density/ Uses and Conditions Intensity Rural Residential Less than 1du/ac Single-family residential, agriculture, public elementary schools, recreation uses Low-density 1 to 3.5du/ac Detached single-family homes, public schools, Residential 0.4 FAR institutional uses, recreation and conservation uses • Can be a Planned Unit Development (PUD) if at least 65% of acreage is dedicated to single-family residential Medium-density 3.6 to 8du/ac Single-family homes, duplexes, cluster homes, patio Residential 0.45 FAR homes, public schools, institutional uses, recreation and conservation uses • Can be a PUD if at least 55% of acreage is dedicated to single-family residential uses REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATTING JACKSON KERCHER ANGLIN 66 SeminoleWay Industry and Facility Analysis -Draft Table 3: City of Oviedo Future Land Use Categories (cont'd. FLU Density/ Uses and Conditions Intensity Office 3.5 du/ac •Single-family uses, public schools, commercial or 0.30 FAR professional office, institutional, recreation and conservation uses Commercial 0.5 FAR Commercial and office uses, public schools, institutional uses • Can be a PUD if at least 50% of acreage is dedicated to commercial and office uses Industrial 0.6 FAR Wholesale commercial, manufacturing, warehousing, and other industrial uses, institutional and conservation uses • Can be a PUD ff at least 50% of acreage is dedicated to industrial land uses General Planned Res: 5.0 du/ac Minimum of 15 acres Unit Development Comm: 0.5 FAR Must be served by collector, arterial roadways. Office: 0.3 FAR Ind: 0.5 FAR Downtown Mixed SF Res: 4 to 6du/ac Residential uses, commercial, office, and institutional Use MF Res: 10 to uses 50du/ac Ofc/Comm: 0.30 to 0.75 FAR Inst: 1.0 FAR Public ~ FAR Public, public institutional, recreation and conservation Conservation 1 du/ 10ac Development restricted to protect wildlife habitat, wetlands, vegetation • Conservation, passive recreation, low-density single family residential, and limited agriculture Winter Springs Future Land Use Policies Policy B(1)(e) on Seminole Way: "The intent and purpose of the Greeneway Interchange FLU is to: (1) Provide an economic benefit in terms of employment opportunities and increased tax base; (2) Locate higher intensity uses where roadway capacity can accommodate increased traffic due to short trip distances to major roadways and increased lane capacity at major intersections; (3) Locate higher intensity uses along major roadways and intersections to reduce development pressures in other areas, thereby minimizing the road congestion and community compatibility impacts." REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATTING JACKSON KERCHER ANGLIN ti7 SeminoleWay Industry and Facility Analysis -Draft Table 4: Citv of Winter Springs Future Land Use Categories Density/ FLU Intensity Uses and Conditions Rural Residential Up to 1du/ac Large lot single-family residences, agriculture Low-density 1.1 to 3.5du/ac Detached single-family homes Residential Medium-density 3.6 to 9du/aC Residential uses including detached homes, duplexes, villas, Residential cluster housing, townhouses, mobile homes, manufactured homes and apartments High-density 9.1 to 12du/ac Attached multi-family housing including apartments and Residential condominiums Mixed Use 12du/aC Low, medium and high density residential; commercial uses 1.0 FAR (retail and office); light industrial; educational facilities; recreational facilities and compatible public facilities ° Single use type cannot be more than 75% of total development • Minimum of 10 acre site Town Center (Higher 2.0 FAR/36 du/ac Higher density and intensity mixed-use development Intensity PD) including: retail, office, cultural, recreational and entertainment facilities, high-density residential, or hotels Greenway 1.0 FAR/ 12 du/aC Higher density and intensity mixed-use development Interchange (Mixed- Regional-type commercial uses including hotels, restaurants, Use) convention centers, professional training facilities, office parks, and educational and research facilities • Medium to high-density residential uses are conditionally allowed • Office parks limited to providing professional-type services such as financial, high tech, educational and research, data processing, communications, engineering, architectural, legal, real estate, and medical laboratories Industrial 0.5 FAR Light and heavy industrial uses typically connected with manufacturing, assembly, processing or storage of products. • Not allowed on properties along Lake Jesup Public/Semi-public 0.6 FAR Properties owned, leased, or operated by a govemment and not-for-profit entity, such as civic and community centers, hospitals, libraries, police and fire stations, and govemment administration buildings, churches, institutions, group homes, cemeteries, nursing homes, emergency shelters and schools Recreation & Open 0.25 FAR Park and recreation facilities owned by the City, private parks Space and golf courses, recreation facilities located at area schools. • Open space includes areas deemed worthy of preservation, such as common open spaces in private developments and significant right-of-way buffers along major roadways and drainage systems Conservation Not developable Land reserved for preservation and protection of Winter Springs' natural resources Conservation Varies Areas that potentially contain wildlife habitat, hydric soils and Overlay wetlands, special vegetative communities, areas within 500' of public well, 100-year floodplain areas, and other areas that have environmental or topographic constraints • Not intended to prevent development, but rather used to identify sensitive areas that need further review to determine extent of allowed development and needed mitigation • If conservation overlay area is determined developable and all mitigation requirements have been met, the underlying land use on the FLU map will apply • Properties are encouraged to undergo PUD procedure (site specific plan approval, cluster development) REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATTING JACKSON KERCHERANGLIN 6$ SeminoleWay Industry and Facility Analysis -Draft Sanford Future Land Use Policies Policy 1-2.2.7: I-4 High Intensity Center (HI). ""I-4 High Intensity" is a planned mixed use designation intended to promote and regulate anticipated development within the vicinity of the I-4/State Road 46 Interchange. I-4 High Intensity land uses shall include commerce, industry, and high density residential development." Policy 1-2.3.2 on Seminole Way/I-4: "The "Westside Industry and Commerce" (WIC) area is a planned mixed use designation intended to promote development of a major center of commerce and industry in the vicinity of the West SR 46 corridor. The corridor's proximity to 1-4 as well as the planned Eastern Beltway provides access to regional markets and a substantial labor force. The CSX Main Rail Line also provides a transportation amenity of regional significance." Policy 1-2.4.9 on Orlando Sanford Airport: "The "Airport Industry and Commerce" (AIC) land use designation is ahigh-intensity mixed use policy for managing lands comprising the Orlando Sanford Airport and adjacent lands capable of supporting a variety of residential, commercial and industrial uses." Table 5: Citv of Sanford Future Land Use Categories FLU Density/ Uses and Conditions Intensity Suburban Estates 1 du/acre Detached single-family homes Low-density 6 du/ac Detached single-family homes and mobile homes Residential Medium-density 6.1 to 15 du/ac Both single-family and multi-family uses including Residential detached homes, duplexes, villas, cluster housing, townhouses, manufactured homes and apartments High-density 15.1 to 20du/ac • Attached multi-family housing including apartments and Residential condominiums Commercial (NC & 0.35 FAR Regional to neighborhood commercial uses, business GC) and professional offices, convenience stores, specialty shops, shopping centers, restaurants, and other similar uses I-4 High Intensity/ Comm: 1.0 FAR Commercial, industrial, and high density residential Higher Intensity Mixed Ind: 0.50 FAR uses Use Res: 50 du/ac WaterfronUDowntown Comm: 2.0 FAR Centralized residential, government, cultural, Business Ind: 1.0 FAR institutional, and general commercial activities DistricUHigher Intensity Res: 50 du/ac Mixed Use Westside Industry & Comm: 0.35 FAR Intensive industrial development, commercial Commerce/ Mixed Use Ind: 0.50 FAR development related to industry Res: 20 du/ac Airport Industry & Comm: 0.5 FAR Encourage the expansion of industrial land uses where Commerce/ Mixed Use Ind: 1.0 FAR airport noise impacts will prohibit residential Res: 50 du/ac development • Mixed use developments compatible with airport operations including industrial and business parks, office complexes, commercial and retail developments, service and hotel uses, and medium to high-density rental residential developments Residential/Office/instit Comm: 0.35 FAR Business and professional offices, high density multi- utional/ Mixed Use Res: 20 du/ac family residential developments, and institutional uses • Frequently serves as a transition area buffering residential uses from higher intensity developments REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATTING JACKSON KERCHER ANGLIN 69 SeminoleWay Industry and Facility Analysis -Draft Table 5: Citv of Sanford Future Land Use Cates~ories (cont'd. FLU Density/ Uses and Conditions Intensity Industrial 0.5 FAR Manufacturing, assembling and distribution activities, warehousing and storage activities, other similar land uses Public/Semi-public 0.35 FAR • Governmental administration buildings, public schools, non-profit institutions, hospitals, arts and cultural facilities, essential public service, private parks and recreation areas Parks & Open Space 0.25 FAR City-owned parks, open spaces, and recreational facilities Resource Varies Wetlands and aquatic habitats, floodways and drainage Protection/Conservatio ways, aquifer recharge areas, well field protection n areas, upland wildlife habitats, and floodplains • Development densities and intensities should respect functions of wetlands, floodways, drainageways Transportation Network Figure 3 is a map of the Seminole Way Corridor and the system of street network that connect to it. SR 417 provides regional mobility benefits to Seminole County and the rest of Central Florida as an alternative north-south corridor to Interstate 4 and US 17-92. However, more importantly, it provides tremendous highway accessibility benefits to the county's residents, as it connects key activity centers such as the Lake Mary business parks on its northern terminus, the Sanford International Airport around its midpoint, and the University of Central Florida area on its southern end. Highway access points have traditionally been the first areas to develop and redevelop along a limited access highway. In terms of the Seminole Way Corridor, these access points are provided around ten interchanges on the SR 417 and Interstate 4. Interchanges are located at an interval of 1 to 2.5 miles, except where SR 417 crosses Lake Jesup. The network of state and county roadways that link to Seminole Way are important corridors that will facilitate and serve future growth. These roadways include: US 17-92, Orange Boulevard, SR 46, CR 46A, Lake Mary Boulevard, Airport Boulevard, CR 427, and Lake Mary Boulevard Extension in the City of Sanford. In the Cities of Winter Springs and Oviedo, SR 434 and Red Bug Lake Road are important roadways that provide direct access to SR 417 and connect these cities to the rest of the county. Lastly, Aloma Avenue (SR 426) is the County's southern gateway for residents and visitors using SR 417. Environmental Constraints Future development and redevelopment efforts along the Seminole Way Corridor will need to consider the environmental conditions along the Corridor. Figure 4 illustrates the wetlands, designated environmental protection areas, and conservation overlays designated by the different jurisdictions' Future Land Use maps. The city of Winter Springs and Seminole County both have a conservation overlay FLU designation that calls for additional review and analysis prior to development. Both jurisdictions' comprehensive plans suggest that the conservation overlay designation is not intended to prevent development, but rather is used to REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATTING JACKSON KERCHER ANGLIN 7~ SeminoleWay Industry and Facility Analysis -Draft identify sensitive areas that need further review to determine the extent of allowable development and the needed mitigation. If the conservation overlay area is determined developable and all mitigation requirements have been met, the underlying land use on the FLU map will apply. The map shows that the majority of the properties around Lake Jesup and Lake Monroe are wetland areas and has been designated as conservation overlay areas. Smaller wetland areas are scattered throughout the corridor and sporadically along the Seminole Way Corridor. REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATTING JACKSON KERCHER ANGLIN 71 ,~ ~'~~~~',~`~~ Cake Monroe ~ I T. ~ .;T r i ~. ~ ~n~--fir y~_ ~ ~, ~i ~_ - a ~- _ R I ! r--~ ,_. - ~ ~ _ ..... 4 5 ~l% ~~ ~_ ~ ~ ~ Q - .= ~- ~ ' . ~, , __ T~ ~ ~ ~, ~ )C ~~ ~ •~ ;' ~ ~"~ - ~ - _ . ~~ ~~~ - ~ lr ~ - - - . ~__ ~ ~~_~ 'r,- ~ (ill ,-_~ '~ _.~ -,~ ~ ',... ~.. ~-- ,~ _ ~ 1 0 _ J 1 ~fi' ~ ~~~ =~~,I ~_~~ c . ~ ~ ~ - - _ v I - ' ~ (\ GEM NUT HIN= N PK ~ S~ n ~ ~ ~ ! -° ~ piy, Lake Jesup _ ~J_ ~ -Z7 ' - .. ~~~ Y ~~ " -7, , ~ ~~ ~ ,. ` ~ ~~ ~ ~ i ,~ ~ y `~. ~- ~ - V 14 ~ ~ _ ... r. _ ~} TT ~Ir ~~ ~1 `~-~ ~ Imo. ~, .. ~: ~ ~ _ ~ /~ ,~ ~ rrr~~~777777 1 F I .e , z ~ ~ ~~ ~ q}(j~ _, ~: ~ ~ I SR 426 W- del ~. ,~ ~~ /7~~-y~ - ,[_- ^. ~~ ~~ i i ~~f~THER YSA.Y ~ _ ~ ~ t ~l~ ~ ~ _ ~ ~ i( C _ f ~~-- ~~ c ~ / ~~ (-- ~-> ~ MRCHELLH n "T __ Y ~ ul ~ ~ - .. -~-n ~ r 7 ~ l~ 1 LEGEND „~ ~ f,~, ` ~ '~ ~,1+ ~ >rr _ _ - ~ Seminole Way Study Corridor _ c ~ ~ a ~ I ~ ~~~ ~ / ~ t - > l_ _> a Limited Access Highways r ~ L - I ~` .~ 5 ~ State Roads - ~ ~ {- - ~, _~ ~ _ ~, / 7` ' County Roads j~ ~ ._a, ; j { ~ `" ~ (} r' Local Roads - Ili-{ ~ u ,a "~ ~~ *+~+* Railroads J' ~ ~ l~~[i-~ ~ ` } 't .~ ® - ., ~ 0 OS 1.0 2.OMiles ~ ~_-- j .- 1 ~ i ~ _~ ~ r-) ,~q~ ~ ~ ~ `,~ ou , Figure 3: Transportation Infrastructure Data Source: Seminole County O ~ ~ ~ - i ~ ~ ~ ~ Lake Monroe 1~ SR 46 - ~ . ~ ~--r' ~ I 1 .. .,.. r - ~'-~ ~ _~~ '~ r -- ~ 1- 7 ~ ~ 'FT'~ F-_ R4~i .~: i :. ~,-~ ~ _,J~I ~ r ~ ~, I ~ ~ City o65hnford ~' ~~ ~ ~~ ~ ~ }` ; J ~ l l , ~ iil ~t ~ ~ ~ Tr ~C~ I a- ~~ I'll ~ ~ ~~ ,_, T `~ 1 ~ T n ~ r ~ ~f ~~ ~ _ ~ ; ~ , Gty of Lake Mary i ,~ ~ tip; '~, I h'~ ~ ~ . ~ '~ ~~. _i ~ ~i '~ f ~ ~~ • ~,.~ ~~/` ^4 7.. ~ ~ I.i.a~ _ { /~~ ~ ~ ALT( 1~ ~ ~ `. ~ ~ f P L ~p i- ~~ ~ ~7~~L ~ 1 t ,. > z lyl ~ ~-.L~ ~ ~t ~ i 4 - ~~ ~. ~i I ~'~r ~-" '-~'" GEN1CHCfTCHIN3 NP 7' .I"~ '~9 •' r.,'. t~ ~ . ~ ~ '~-`~ -~ '^ yi Lake Jewp -l~ ~~ r 1 'S} ~. ~ ~~ ~~ r kt~ 7 ~ r ~c 1, h ~ ~- GfyofLongwood - ~ ~ :~ x e~ ~.a_ -:=1 ~~~ _''~~ ~_ ._ ~ ~ ~ r ~ ,_` .Y- _ 4 4 .-~ I 5~ ~ t ~ ~ .. ,-~. „ll ~ ~-~-ter:.-~ .. r S ~ [ 0 I I~ S ~~~ ~f-~-1 '~' :~ -~-'~~- I ~`~~'i ~~Gtly{of.WmterSpnngs ~ ' -..-., ~.", ~ ~ ~ f,_-' Ali ' ~ ._ fit- I f ~~_ ~ ~_„= ~ , ,~ ~~ --~ ~. ~~ I i~ GtyofCasselherry ' ~ I ~ aF ~ '~ '~ ~~}J~~` i J rt - ~ ~~.- i' SFMIN Lqe - ~-,1~1 ~--li~ I ~ x a ~-~ -~ ~ ti IC Of ~ r. ~ ~; - ~ I ~. I ~-~ _ _ ~ `` `~ ~ ~ ~~ ~ ._t'_""" ~'"~- ~ ct'~ z ~ vr~r ~ ~yt~ iJ ~ 5R zew- ~ r~ _ ~` . ~ < / , ~ r r ~ 1 I I~ I ~ Norsrr+~gN wn r . i ~~~,~ ~ i ~ I j r J ~_ f ~ ~~ ~ - ~ I, - y - (~ ~ ti, ~',~~ ~.c ~ ~~~ ~ (~ ~3-. ~ ~ ~~ ~ '-Sk ~~ ITCHEi1 HAMM KflD .:V ~ _ ~- - I f.: I .l _ ~ ~ ~~ ~,~ I LEGEND ~ j 1~~ ~ ~'~~ ~ _ I ~ --- ~I~~ ~ ~ - - 4 ~ ~ I ~" _"f IncorporotedAreas I L fir ~~~~;'-~ ~ I - r'~ ~ .~ 0 Wetlands ~ y-~ . ~c I ti ~ i .. (~ Environmental Protection Area ~.'._t ~_ I ~ ~,':; ~ ~ +. •~Il~i ~ `'1~I U i I { 0 Conservation Overlay FLU ~ ~ l ` ~ ~ ~ti~ _i~T~ v • ,e ~G~ ® 0 OS lA 2.o Miks ~- 4~i -~ ~~ i ~J ~ ,~~d:C ,~ _ ~~~ , ~~ ~~ ~ ~ OU ALIN RD '~ ... Figure 4: Environmental Constraints Data Source: Seminole County SeminoleWay Industry and Facility Analysis -Draft Development Opportunities Analysis Assumptions and Methodology A detailed parcel-level analysis using GIS software was conducted to determine the extent and location of development opportunities along the study corridor. Properties that can be reached within aone-mile driving distance from interchanges using existing roadways would benefit most from the corridor's visibility and access are therefore considered key development parcels. The following criteria were used to further define the actual development opportunity among the one-mile network parcels: 1. Properties have to be one acre or larger. 2. Properties have to be either totally vacant or underutilized. Vacant properties are identified based on county-provided GIS data. Underutilized parcels are those parcels that have improved values of less than 40% of total property values (land plus improvement values) based on data from the County's property tax appraiser. In addition to analyzing properties that are within aone-mile network distance of interchanges, two additional development opportunity areas were identified. The first area includes properties that are generally within the comprehensive plan-designated Sanford f-4 High Intensity PD area and the County's Higher Intensity PD area. For the purposes of this analysis, this potential development area is called the "SR 46 HIP Area" and includes the properties bounded by Interstate 4 on the west side, the CSX rail line on the north side and SR 46 on the south side. This subset is further screened by the same two criteria used for the one-mile network development opportunity around interchanges (see previous paragraph) and excludes properties that are already previously identified in the first subset. The second potential development area is made up of properties that are within a mile of the Lake Mary Boulevard Extension. This area is considered a potential growth area because of its proximity to the airport and the access benefits provided by the Boulevard. As with the "SR 46 HIP Area", the development opportunity is made up of parcels that are one acre or larger and vacant or underutilized. Development Opportunity Areas (Vacant and Underutilized Properties) Figure 5 illustrates potential development opportunities, made up by vacant and underutilized properties, along the Seminole Way Corridor. Table 6 to 8 summarize the development opportunity by location and by parcel size groupings (between 1 and 5 acres and larger than 5 acres). Figure 6 shows the development opportunity areas grouped by interchange areas and growth areas. The development opportunity around the interchanges (not including the SR 46 HIP Area or the Lake Mary Blvd. Ext. Area) total more than 3,600 acres in land area. Of this, more than 60% are underutilized properties and less than 40% are vacant properties, in terms of land area. Close to 70% of the properties are between 1 acre and 5 acres, and around two thirds of these are underutilized properties. Among REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATTING JACKSON KERCHER ANGLIN 74 SeminoleWay Industry and Facility Analysis -Draft the different interchange areas, the cluster around Rinehart Road/SR 46 and around US 17-92 offer the largest land area of development possibilities with close to 1,000 acres of vacant or underutilized properties. REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATTING JACKSON KERCHER ANGLIN 75 ®.'''. LakeMonrce t "R 41 ~ ~'~ ~~~ , ,. r :~ ~ . r ~P ~ ~ ~"q . '~PI ~ « ~ ; ~.~ ~' r t. ~ 1 '~ ~ I i ~-f ,, .. G ® l~I 5 0 ~ 1 l7 z h, - GEN J C HUTCHIN N PKV A I I 5 ~. 4 ,~ .~ ,I ~~~ ~~ SEMINOLA BLVD SR 476 W NORTHERN W LEGEND i ~ ~ ~ Underutilized Parcels M MfT HELLHAMM KRD : • t to 5 acres ~ ~ More than 5 acres Vacant Parcels T to 5 acres _ More than 5 acres Additional Potential Development Opportunities ® SR 46 HIP Area ~~\ Along Lake Mary Blvd. Ext. w~ 0 0.5 1.0 ZO Miles ® ~ ~ t. ~ jt~ ~ COUNTYUNERD - ~ ~Z ___ Figure 5: Vacant and Underutilized Properties Data Source: Seminole County 1~ iuke Monroe CR / - i I L .^ ~ 7„92 s~ -' x>~ LakeJewp I I ,. _ . t,_,:- ~-- SR,434 Interchange Interchangea~ ~~~-~ ~, ~. MITi".HEL ~r~.__ IX. ~~~ Ir Figure 6: Development Opportunity Properties by Interchange and Growth Areas Data Source: Seminole County SeminoleWay Industry and Facility Analysis -Draft Table 6: Vacant Properties (including parcels under Conservation and Conservation Overlav FLUI Properties between Rnperties al vaunt PraQertles 1and5atxes largerthan5acres largerthaniaae Vacant Ptopertles Number d Taal Area Number of Total Arm Number of Total Area Averggs Paroel i~rcels (eves) Parcels (ease) F~rcels (saes) 9aa(aaes) Wthin 1 mile a Intert3tanges Rnehart load/SR 46 57 119.7 33 392.7 90 512.4 5.7 Q'246A 16 35.2 3 21.3 19 56.5 3.0 US 17-92 28 56.0 13 171.6 41 227.6 5.6 92434 10 19.0 7 183.4 17 202.4 11.9 FZzd Bug Lake Ri 20 50.0 14 233.8 34 283.8 8.3 92426 14 29.4 7 73.5 21 102.9 4.9 Sikaalforallnterdtange 145 309.3 77 1,076.3 222 1,385.8 8.2 Additional Growth Areas 9246 HIPArea 6 15.6 22 248.6 28 264.2 9.4 Lake Mary Blvd 6ttenson Area 69 172.5 52 691.6 121 864.1 7.1 Sitkaal for Additional Growth 75 188.1 74 940.2 149 1,128.3 16.6 220 506.0 228 3,055.2 593 3,561.2 6.0 Table 7: Underutilized Properties (includina oarcels under Conservation and Conservation Overlay FLU) Propertieshetween Properties alUndentuiaedProperties 1 and 5 acTeS larger than 5 acres largerthan 1 ac7e Underutilized Properties Nurnber of Total Area Number of Total Area Number of Total Area Average Parml Paresis (ayes) Paroals (aae~ Ptaroels (saes) 9a(acre~ _ Within 1 mile a Interchanges Eanehart lmad/SR 46 106 265.0 43 180.6 149 445.6 5.9 a246A 29 66.7 16 220.8 45 287.5 6.4 US17-92 71 163.3 34 523.6 105 686.9 6.5 92434 26 62.4 15 343.5 41 405.9 9.9 End Bug Lake Fm 31 65.1 14 131.6 45 196.7 4.3 92426 50 115.0 16 128.0 66 243.0 3.7 Subtaalforallnterdange 313 737.5 138 1,528.1 451 2,265.6 5.0 Addtional Growth Areas 9246 WPArea 23 69.0 6 45.6 29 114.6 3.9 Lake Mary Blvd t3ctension Area 144 388.8 110 2,706.0 254 3,094.8 12.2 9#rtaal for Additional Growth 167 457.8 118 2,751.6 283 3,209.4 16.1 480 1,195.3 254 4,279.7 734 5,475.0 7.5 REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATTING JACKSON KERCHER ANGLIN 78 SeminoleWay Industry and Facility Analysis -Draft Table 8: Potential Development Opportunity Properties includin arcels under Conservation and Conservation Uverla FEU Properties between Pnopertles al vapnt and ulxienAnined Properties 1 and 5 aces larger than 5 ages than 1 acre Underutiliaed and Vacant Properties Number of Trial Area Number d Trial Area Number d Trial Area Average Par®1 Par+oels (aces) Par°els (attest F~roels (ages) 9ae(aaes) Within 1 mile of Interdrarlges Rnehart Fbad/SR 46 163 384.7 76 573.3 239 958.0 4.0 CR46A 45 101.9 19 242.1 64 344.0 5.4 US 17-92 99 219.3 47 695.2 146 914.5 6.3 91434 36 81.4 22 526.9 58 606.3 10.5 Ind Bug lake Ri 51 115.1 28 365.4 79 480.5 6.1 91426 64 144.4 23 201.5 87 345.9 4.0 S#otalforallnterdiange 458 1,046.8 215 2,604.4 673 3,651.2 5.4 Additiaml potential GrowthAreas 946 HPArea 29 84.6 28 294.2 57 378.8 6.6 lake Mary 9vd 6ctension Area 213 561.3 162 3,397.6 375 3,958.9 10.6 SLbtotalforAdditionalGrowthAr 242 645.9 190 3,691.8 432 4,337.7 17.2 a 700 1,692.7 405 6,296.2 1,105 7,988.9 7.2 If the additional growth areas (SR 46 HIP Area and the Lake Mary Boulevard Extension Area) are considered, there is an opportunity to develop or redevelop up to 8,000 acres of properties corridor-wide, doubling the total development opportunity existing around interchanges. The bulk of the development opportunity is concentrated near the airport along Lake Mary Boulevard Extension. Of the total development opportunity, two-thirds are properties that are considered underutilized and a third, or around 3,500 acres, are currently vacant. Of the total 1,100 parcels that make up the total development opportunity, almost 60% are between 1 and 5 acres in size. The rest are properties that are larger than 5 acres and make up almost 80% of the total land area of potential development. The results also show that more significant development opportunities exist around interchanges and key anchor areas (the Sanford International Airport and the Lake Mary office parks) north of Lake Jesup than on the corridor's southern segment. When combined with the additional growth areas, the northem segment accounts for more than 80% of the development opportunity in the entire corridor. This first series of analysis does not take into consideration any environmental considerations and includes properties in all FLU designations. Future Land Use Designations of Development Opportunity Areas Figure 7 shows the potential development opportunity areas and their future land use designations. The map shows that a majority of the large parcels identified in development opportunity areas are under a mixed use or planned development (PD) designation. Clusters of smaller parcels are located in areas designated commercial and office use. Along the northern shore of Lake Jesup and near the airport, some parcels considered redevelopable are under the suburban estates FLU designation. REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GI.ATTING JACKSON KERCHER ANGLIN 79 .~ ,'j _ :~r C~ity~of ~ Sanford j.. , ~ ~ \ ~ I ~~ _. c ~ oDi p , J ", i tr;i iti ~ _ ~..: L r ` f 4 . L Y~ ~~ F .~, _ ___ Gty of ake Mary - ~~~ -;t L `.+' - ;,~ _ _ I A ~*~ r ~-~ ~ -'L' {~i I I ~, `' p .. ~_ .. .., -ate ~ ~ .. ~ . '. ~ _,. . J G S .. ~ ~( . 5 .T~',~ ~ ~ 1 ~ ..I T ~ 1. = ~ ,~ ., I f '4l ~ ' ~y ~~:;~ :,._ ~ ,~ a. t ~ ~ ~ Ii~ ~J - l ~ 7 - l}' sl3'~ ~ ~ p~: ~~ky~. 1~~ CJ' 1 t . -1 . ~ ` ~ P . ~ ~ ~ ~k ~ I~ h ~, ~ ~ 'rv: ~.: (~ ~ fi~ ? ~ ~i~ ~~ T=Crty ~L od . ~; ~,.~- o ongwo s~ + ~~ '~4 ,1 ~ M ~ I- i ~ ~ ~. - ,~ ~ 1, .,, ~ S ~ ' ~ , i i - GtyofWrnterSpnngs a ;~ t~~ fo -~ LEGEND ~ ~, ~ _- + Vacant or Underutilized Pw erGes ~ I ~~ ~ ~ - ~ ~- , Puturctandllse ,.-_, ~ ' "' ic ~ -~.» ht/ ~ oviedo~ Conservation Overlay .' ,,_ , ~ ,i ~ ~ ~ ~ ~ '~, ~ i is r7-i~ _ ~ .: •-: ~ ~ ~ ~ 0 Recreation ~~_ ~ ,y ``. C~_ ~ ~ ~Ar ~ ~ ~ i ,.. oy F ~~ , I _. ~` ~ Conservation 0 { c 1 ~~ ~ Public ~~ ,~ ~r ~ .: ~ ° ~ +1 rr Rural Residential ~ . ~ ~ ~ , ' Suburban Estates ~ ~ ~ `-~~` ~' i i; ~ _~ - ~' ~ LowDensftyResidential i~~ ~ ~ I 0 MediumDensityResidential ~, , ~ '~ )~ High Density Residential ~ ( , - , r' ` I ~ ~ ~`_ ,,:c - E.. , 0 Planned Development/Mixed-Use ,. ' " ~ ~ }` ~, .. i ~ i I r~ I ~ . , I ' . ®Commercial ~' ~i ' { iTl ~-• - ~ ', (' 0 Industrial ~~ :~}~ ~ -~ w ~ i. _ -~,,, ~--i~ ~ - ~ ~'„~ Higher Intensity PD! Mixed Use ~ ~ ~~fl ~ I _ ~ r ~ ~ ~ : '' ~: I T, ® 0 0.5 1.0 2A Milet ~ L ~fi ~ ~ ' ~~~! I~~ ~ '-„I 1 ~ ~" r, ___a I ~ j __ __ I ~ ® i . ~ _ Figure 7: Vacant and Underutilized Properties and their FLU Designations Data Source: Seminole County, Cities of5anford, Winter Springs and Oviedo SeminoleWay Industry and Facility Analysis -Draft Development Opportunity Areas not affected by Environmental Constraints To quantify the extent of development opportunities that will not be constrained by environmental conditions, parcels that are affected by a conservation overlay FLU, conservation FLU, or wetlands were removed. Figure 8 illustrates the development opportunity areas with the environmental constraints overlay and Tables 9 to 11 quantifies the development opportunity. Figure 9 maps out parcels that are not constrained by environmental conditions. When the environmentally constrained properties were removed, the remaining development opportunity parcels were less than half of the original subset in terms of land area. This reduction is due to the more than 3,500 acres of underutilized properties and more than 2,000 acres of vacant properties that are affected by an environmental condition. When the environmentally constrained parcels are removed from consideration, the Lake Mary Boulevard Extension area still offered close to 1,500 acres of vacant and underutilized properties within a mile of the new roadway. Table 9: Vacant Properties (excluding parcels under Conservation and Conservation Uverla FLU laroperties Keen Roperfies al vast Properties 1 and 5 saes larger than 5 ages larger than 1 acre Natant Properties Number of Total Prey Number of Total Area Number of Total Area Average Paroef Parcels (saes) Parcels (arrea) Parcels (saes) sae (acre Within 1 mile of Intertiianges Rnehart ibad/SR 46 35 64.4 16 175.4 51 239.8 4.7 CR46A 9 17.8 0 - 9 17.8 2.0 US17-92 17 35.5 5 47.6 22 83.1 3.8 gt434 7 14.4 2 14.6 9 29.1 3.2 ~ Bug Lake Ri 17 38.1 7 72.6 24 110.7 4.6 St426 10 16.9 4 41.3 14 58.2 4.2 SLbttrtal frx All Intertiiange 95 187.2 34 351.4 129 538.6 4.2 Additional potential c~oWtn Areas 9246 HIPArea 6 15.6 22 248.6 28 264.2 9.4 Lake Mary Blvd 6denson Area 57 139.1 34 472.3 91 611.3 6.7 9ibtotal for Addititxlal Ci~owth 63 154.7 58 720.9 119 875.5 16.2 158 341.8 90 1,072.3 248 1,414.1 5.7 Table 10: Underutilized Properties (excluding parcels under Conservation and Conservation Overlay FLU) REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATTING JACKSON KERCHER ANGLIN 81 SeminoleWay Industry and Facility Analysis -Draft Propertlesbetween Properties All Urrderrrfiliad Properties 1 and 5 acres than b aces I than 1 erne li'rdenRlllaed Peopertfes . Number d Total Area Number d Total Area Number of Total Area Average Paroel fOreels (saes) F~roels (aae~ Parrs . (aaee~ ` Sm (saes) Within 1 mile of Irrterdianges Rnehart Ibad/SR 46 70 174.3 11 138.9 81 313.2 5.9 CR46A 15 24.6 2 14.7 17 39.3 6.4 US 17-92 49 114.2 15 178.8 64 293.0 4.6 9434 11 26.1 2 16.0 13 42.1 3.2 fbd Bug lake Ri 21 40.3 7 55.5 28 95.8 4.3 92426 28 59.4 7 51.5 35 110.9 3.2 3ibtoWforAlllnterdiange 194 438.8 44 455.5 238 894.3 3.8 Addtional potential Growth Areas 9246 HPArea 21 63.2 6 45.6 27 108.8 3.9 Lake Mary Blvd 6denson Area 103 269.9 52 612.6 155 882.4 5.7 Subtotal for Additional Growth 124 333.1 58 658.2 182 991.2 9.6 318 771.9 102 1,113.7 420 1,885.6 4.5 Table 11: Potential Development Opportunity Properties excludin arcels under Conservation and Conservation Overla FLU Properties between Properties al va~rrt and llndenRniaed Properties 1 and b ernes largerthan 5 saes lart3erthan 1 acre Urtdarrtilbed and Vacant Properties Number d Total Area Number d Tdal Area - Number d Tdal Area Average Pbroel r~roels (aa~ ` Paroels (saes) Percale (aaeal 9m(atreal Within 1 mile of Interdianges Rnehart Read/SR 46 105 238.7 27 314.3 132 553.0 4.2 CR46A 24 42.4 2 14.7 26 57.1 2.2 US 17-92 66 149.7 20 226.4 86 376.1 4.4 9434 18 40.5 4 30.7 22 71.2 3.2 Fd~d Bug Lake Ri 38 78.4 14 128.1 52 206.5 4.0 92426 38 76.3 11 92.8 49 169.1 3.5 9rtrtotal for All Intercfwnge 289 626.0 78 806.9 367 1,432.9 3.9 Additional potential Growth Areas 946 HPArea 27 78.8 28 294.2 55 373.0 6.8 Lake Mary Blvd 6ctension Arm 160 408.9 86 1,084.8 246 1,493.8 6.1 Subtotal for Additional Growth 187 487.8 114 1,379.0 301 1,866.8 129 476 1,113.7 192 2,185.9 668 3,299.7 4.9 REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATTING JACKSON KERCHER ANGLIN 82 ~ ~, ; ~;~ ~, \ ~' ,r ~":ti~~ ~~ ~ ~~ t '• . ~'1-~J I ' ~'~ ~ , , . , r, v ~ '- .. , • ~ ~ ' ,- - t - , '_ _ r~1.. ~ - _ E~, .. . ;.. .. , .~ _ . ~• _ ~ e ~,~ - a _ ; __ ~ ~ ~, n $~ ~~ ~ ~i i a n~ ~ ~ l ~ r ~~ - I A r` ~;~ ~ ~ i~ ~ ~ ~~ ~ - .~ i ~~' ~ ,~ ~r ~_q `s I 3c 1 a i~ ~~~ ~._ ~. ~ rl [~ ~~1 ~ ~ ~:~ ~ j r ~~ ~ i ,; 1 `, , ~~~ .• f -i r~' ~ ~ ~' i T <'} T F - 'S ~ r ~ ~" ~ ~~~-~~' _ `" i __ 1 1... r= . , ~~ ~, ~ I L _ ~r~ ,,~ , y ~ ,~ _~ ~ ,, L ...t ~ .. _. ;.., ~ ~ ~ l,_. ~_ l 1 ` ~" ~ ~ _4 , "r' Lam- I \' . 7~ ~' i t~,' _ ~ ~I'; ~ /~ a~ ~~ i ° ~ ~' = ... ~, - ~_ , - _ --~ _ ~ - . .; - E~ .~~ ~ . ~, ~~ _ ~n - LEGEND -1 i f `u ~ i r ~~~ ~`~ ~ ~ } ,ate Wetlands ~ i. ' -~ ~ `--' ~ ~ tL ' ., _ C ~: r ~--^--~ f-~ - L•. •• • .~ Conservation Overlay (fLU) ~ .r , , , n ; ~ . ~_~' ~ ('~~ i ~~y ' Underutilized Parcels ' ~;' "'``~ ' ' ~ ~' ' ~ 1 j~ 1 to 5 saes ~' '~ ~ ,±,~ a. }Y. ~ ~'~ `~~ - _ Morethan5acres 'a } ~a'~IT~Y~ '~~'~'.' I~ ( ~~, ~* T . ~. F , - VacantParcals ~` r ~~ a ~ ~ •~~ - 1 to 5 aces \ y't; r ~' - ~ ~~ rr ~ ` . ~ _ More than 5 acres r L ~~`` k , I - ~~ Additional Potential Development Opportunities ~ I ~ ' , ~ ~ ~ ~ . ~ ~' `- ~ rT ~~ 1~ T~'; ~ ~/~/~ ~~Ittt ,~1 ~t~ ~11!/_.L SA 46 HIP Area ~,` "U ~~ Along Lake Mary Blvd. Ext. ~ ( ~ _ _ ~ ~_~ ~ it t7~11 0 0.5 1A 3.0 Mlles ® .-~ r '~= .. .. ., _ ~~~ ~ {- f ~Y ,~ _ ,. Figure 8: Vacant and Underutilized Properties Data Source: Seminole County, Cities ofSanford, (showing the Environmental Constraints of the Corridor) Winter Springs and Oviedo ~~~ _ ^~: t ~• ~ ~ ~ r ~~_ a -~ -~ ~. ~~ a_ S„ 0 gpo p 3 1 a Z .O LEGEND Underutilized Parcels t t0 $ aRlS _ More than 5 acres ''`SEMI \. r _ ~ 1 ~ ~- Mtrl~ Vacant Parcels 1 to 5 acres _ More than 5 acres - Additional Potential Development Opportunities ~~~ SR 46 HIP Area ~~ Along Lake Mary Blvd Fxt. ® 0 0.5 /.0 2.0 Mflq ._ < F~ ,. " - _ Figure 9: Vacant and Underutilized Properties not impacted by Environmental Constraints Data Source: Seminole County SeminoleWay Industry and Facility Analysis -Draft Land Use Conclusions • The Seminole Way Corridor has significant opportunities for development and redevelopment. An estimated 8,000 acres of properties are ripe for development and redevelopment along the Seminole Way Corridor, around the SR 46 HIP area, and along the Lake Mary Boulevard Extension. These properties are made up of parcels which are currently vacant or underutilized and are larger than one acre in size. Along the SR 417 corridor itself, and immediately around interchanges, around 3,600 acres of properties are considered ready for development/redevelopment. • The Development Opportunities are concentrated around key interchanges and anchor uses north of Lake Jesup. The higher concentration of interchanges along the Corridor north of Lake Jesup allows for more parcels to be targeted as potential development opportunities. Additionally, the presence of the Sanford International Airport and the concentration of professional business parks in Lake AAary further strengthen the possibility for development activity in the SR 46 HIP Area and along Lake Mary Boulevard Extension. More modest development opportunities with smaller parcels of underutilized and vacant properties can be found south of Lake Jesup. • The environmental considerations could substantially impact the potential development opportunities along the Corridor. When screened for potential environmental constraints, the total acreage of developable and redevelopable properties was reduced to 3,300 acres, less than half of the original potential development opportunity subset. Although this is a relatively conservative approach to determining development potential, the study team feels that without a detailed analysis of the nature and extent of the environmental constraints, this figure more accurately quantifies the early phase opportunities for the Seminole Way Corridor development. A next-step study can be undertaken to more clearly understand the limitations that are brought by the environmental conditions, especially those around Lake Jesup. • Existing future land use policies of the County and the partner municipalities are supportive of the Seminole Way Corridor future goals. Comprehensive plan policies and future land use maps from all the partner jurisdictions generally support and allow the types, patterns, and densities of development of the industries targeted for the Seminole Way Corridor. All the jurisdictions call for some form of mixed-use development, planned development, or commercial and office uses around the corridor's interchanges. Around the airport and near the SR 46 HIP area, the County and the City of Sanford also REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATTING JACKSON KERCHER ANGLIN 85 SeminoleWay Industry and Facility Analysis -Draft have policies encouraging mixed-uses, light industrial uses and planned unit developments. As a next step, the County and the partner municipalities can incorporate stronger policies specific to Seminole Way and its implementation as part of their comprehensive plan updates and other policy changes. The goals of the Seminole Way Corridor should also be included in vision plans that are developed for areas along the corridor to reinforce the vision and provide guidance to the private development community. Lastly, a concerted strategic planning effort involving various jurisdictions can be conducted to more clearly understand and carry out the necessary regulatory changes to implement the goals for Seminole Way. • The majority of the parcels that are considered ripe for development are underutilized properties and not vacant properties. Because of this, additional incentives may be necessary to encourage redevelopment. Jurisdictions can explore various incentive strategies to promote the properties' redevelopment to high-technology and high growth industries. These incentives may include assistance for providing infrastructure (i.e. new roadway connections), streamlined permitting processes, and interlocal agreements between partner jurisdictions to assist property owners that abut or straddle jurisdiction boundaries. • A strong partnership and coordination between jurisdictions is necessary. This feasibility study is a great start for the various jurisdictions to come together and define the future vision for Seminole Way. As the program continues and changes in the regulatory framework are made, an even stronger partnership and coordination is necessary among the different jurisdictions to ensure the Corridor's success. REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATTING JACKSON KERCHER ANGLIN 86 ~' ~ ~ "~~~ Industry and Facility Analysis -_ ~ Conclusions & Recommendations - , ~~ Y T- T R.16~ I ~ ,....,,.:.. fm-.R..u1~},P ~.il-w,y~.. y_ ~ ..~~c....^-. .#r°~r~.rs~.a~..a~«.'~r r,~: ...T, ~w.^,~-sq ~ <~ ~ "'w., `~ V ~,. GryofSanford _ ~ ~_ , F ~ ~ .. ~ - t~ r , _. ~ - ; > ~ ~- ~ .. ~ i 4 _ •, , •• '..s n .+° P r If (1F, ti Vll t _ ~. t ~ .,IL ~~CiryofCakeMaryr ~~ ! ' °; Tt.~~~,o~r~~,,oF i~, r . ~. ~ •- ~ ~~ t ~Ul~RYTPL n - ~~~,r.«i,~ ~•~ s~:k~ ' K TI ~xptiiT ..P ~>t~ b , _. -..: ~. e..~....-..-..-...e • - r .. .._ s - ,' ~~ f _ ~ ._ ,_ T I ..,. 1 k _ .. _ , i ~ akAr~v z ~ ~ ,~'~~-' s~~ ,tilran~s ,~,- _ -A + ~ 4 ~~ -..~_... -~ i t 6 `~ ~ ' _ ~ ~ ~; a , f- s ~ ~. u . ~i ~ ~ r~.irHU,,~}r~,}H~°~~, } ~,....~ ~~ ..~, ~ a ~~r... s - ,. ~a~-. lakeJesvp ' i~r '~ ~ '~ ~ '~ f' -- _~ m "`1~ r Crtyoftong~wooA ~ ~ ~ . ~_~ i-a1~ i ., _ i ,A - ~ --~ : .._.1 _ ~ c~~ 'L "vz , ~ t _ _ ..__. ,t _ .., ~ i t 'City of-Winter5piings _ ~ ,E „~„+.,,.. i~ r _ y _ ~ - ~: ~ ~ r ~ ; ~, _ _ ~,~pr-tN S;~...~ - s _~_ ~ - _ ~ ~ r ~,. ~. ~. _ ~~; a _ r drew c i ~ ~ c ''~ l _~,, y ~I h ' :~ ~ City ofCasse!&erry_ p s wynHrHf,mr,kh~~*~ --% .{ - ~ rn S~l~q~ s _ _ ~r t a~ LEGEND ~ -' ~ , ;~ s ~_~ aa~ seminoVe Way Study Corridor i ~r~~ ~~ ,, ~ ~ t n ` ~~ , + _ - _ '°i "~ Limited Access Highways ~ `- _ . ! r,+r naj ap>k ! r ~ - stateRoads T ~ - RESEARCH n q din- , --~~, tountyRoads {'- n~-y- ~ ~` _ , - ~ G O N S U L T A N T S _, P x - LocalRaads ! ~ „t E ~, ; ., *+-+-«~ Railroads ~ , ~.. ... 's ~ ~ a - _ e. 0 0.5 1.0 2.0 Mdes ~ r ~` i - ?, . B ~ _ _ o .,,; _ _ ~~-- , SeminoleWay Industry and Facility Analysis -Draft Conclusions and Recommendations of this Effort A brief summary of the findings and conclusions of this first phase evaluation of the SeminoleWay economic development vision is presented here in relation to the major topic areas addressed in this report. The accompanying Executive Summary provides a more expansive summary of the reports key findings. The Vision for SeminoleWay What Seminole County community and government leaders want are high value investments and high wage jobs in target industries sectors that will provide economic stability and growth for the next twenty years, or more. For many in local leadership roles, the vision is embodied not in the next successful office development or the next industrial park, which are easily predicted and clearly envisioned. Rather, they are wrestling with defining what will be relevant and needed in the county and the region when the next generation of leadership is in control and making decisions about what is best for its community. For many, it is necessary to understand what is emerging or only anticipated at this time. This report brings emerging economic trends and industry clusters into focus and evaluates their suitability for the SeminoleWay corridor. The "Vision" held by community stakeholders includes many specific goals and objectives. Based on the results of this analysis to date, "Success" would be defined as: 1. A vision or plan based on realistic economic opportunities for the Corridor, blending public resources, private business interests and education; 2. Attraction of businesses that add to the County's quality of life through stable investment, high-wage employment, environmentally friendly development, and support for existing economic base; 3. Expansion of the County's non-residential ad valorem tax base and other revenue sources; 4. Provision of appropriate land use controls and comprehensive plan policies throughout the Corridor to allow desirable "high value/high wage" (and maybe "high tech") businesses to find a place in the county; 5. Land owners understanding the vision of SeminoleWay and "buying in;" 6. Certainty that infrastructure resources, policies, and incentives are aligned at county and municipal levels to enhance the chances of achieving the economic development vision. Economic Futures Analysis Seminole County already possesses a significant amount of strategic economic development resources that can be readily applied to facilitate economic development within the SeminoleWay Corridor. The foundation for land use policy incentives has previously been laid with the existing HIP-TI targeted future industries land use category. Many of the policies and practices associate with HIP-TI could function to attract identified SeminoleWay economic clusters. Existing financial incentive programs, such as the Jobs Growth Initiative Fund, the Qualified Target Industry Tax Refund program, REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATTING JACKSON KERCHER ANGLIN $7 SeminoleWay Industry and Facility Analysis -Draft and the Florida High Tech Corridor Council matching grants, will be or should be made available to targeted industries within SeminoleWay. The SeminoleWay initiative should continue to build upon and enhance the existing partnership with the University of Central Florida's Business Incubation program. Building upon the existing economic and industrial conditions in Seminole County and the greater Orlando MSA, the RERC team has identified four specific economic clusters with the greatest potential of fulfilling the SeminoleWay Corridor vision and fostering real long term economic growth in sustainable high wage, high impact industries. They are: 1. Financial services and information services 2. Digital media including modeling and simulation, film and broadcasting, themed entertainment and animation/game development 3. Life sciences including biotech and medical instrumentation 4. Technical and research services including civil and environmental engineering and so-called "green" architectural and engineering services These four clusters represent the most feasible and attractive future of the SeminoleWay Corridor given the context and previously identified constraints. Policy decisions concerning each cluster should be evaluated and tailored to exploit the resources identified within this report. Any limitations of or barriers to the successful cultivation of the SeminoleWay targeted industry clusters are likely to be spatially specific in nature. From a global perspective, the SeminoleWay Corridor is already well suited to attract and sustain each of the identified clusters without significant hindrance from transportation infrastructure, environmental constraints, suitable housing, educational resources, or land use and comprehensive planning policies. Land Use Analysis Accounting for environmental constraints and major accessibility issues, the State Road 417 Corridor between I-4 and the Orange County line contains about 3,300 acres of land that could be considered suitable for economic development efforts of the SeminoleWay vision. Of these ripe lands, the majority of acreage can be classified as underutilized rather than vacant. Approximately 500 acres within the two mile corridor and nearly 900 acres located within the Sanford Orlando Airport and HIP areas are functionally vacant. These constraints suggest that targeted industries and development within the corridor will necessarily be focused toward smaller individual developments and businesses that may not require a large tightly clustered campus and the associated large tracts of raw undeveloped land. To serve the most obvious target industries and businesses, large- scale land assemblage is probably not necessary. The suitable land within SeminoleWay is, however, clustered around readily accessible SR 417 interchanges. SR 417 itself provides ready and efficient access to both interstate 4, Sanford Orlando International Airport and Orlando International Airport. The future land use policies of Seminole County and the SeminoleWay partner municipalities currently governing the available lands around the SR 417 interchanges support the REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATTING JACKSON KERCHER ANGLIN $$ SeminoleWay Industry and Facility Analysis -Draft SeminoleWay vision and may require only minor adjustment on a spatially specific basis to fully accommodate the specific SeminoleWay targeted industries. While it appears unlikely that a major "ship of gold" opportunity will be drawn to SeminoleWay's limited harbors, there will be many, many opportunities to draw high value cargo to the county's scattered ports and business centers via tenders, shuttles, and barges that connect the county's resources with motherships of targeted industry clusters of tomorrow. Next Steps RERC recommended next steps include: • Completion and further interpretation of spatially specific land use, traffic and supporting infrastructure analysis at the SR 417 interchange and parcel specific level. • Identification of secondary requirements for housing, retail or other support facilities consistent with the demands of development expected within the targeted industries. • Further description of the competitive environment for the SeminoleWay targeted industries. • Review of existing economic development SeminoleWay marketing plans and evaluation of alternatives for long term SeminoleWay marketing initiatives. • Evaluation of existing economic development and incentive policies and proposed modifications as they relate to the SeminoleWay targeted industries at specifically identified locations. • Identification of key persons responsible for marketing initiatives and formulation of SeminoleWay progress benchmarks. REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATTING JACKSON KERCHER ANGLIN $9 Industry and Facility Analysis ;:` ,_~~ A ril 2008 Review Draft '" p ~` ~, a ~ ~ . o- c, , ~. r ~Lni ~;, ~ a r , , ~,., -. , ,~ F ,~ _ `~ CRPt, °' ~ ..~ ti.y,. F~ .cam, F, ..,~ 1~'T ,i ~~`~ ~~ , ~,Cifyof5onford ~,. - ` ~ e _ ~. 's 4;y .; '~ f .y4 FI CI ~F ['AF t I 4 _", S - _'~ s ~-`f ~{ t ?` s _ ~[tty of Lo&e Mary+ i _ ~ i +, naa rh c ~ga~v„ a ,. ~ 4 ~' _ T -.' .- . r x +~- ~~ ~, ~ . s~~~ a '._~- A~ ~ t 'hl~P _ ~. ~,,,;..-ate,,. ~..'°,~ti: p .I - ~ ~~ r AY/~5-~~.. ,~ ~~S ,. - _ ~ ekk ~ _~s ~ ~ TF •~ ' ~ ~' _. - _ ~~.. ~ • . i_ _. _~ { ~ ~ ~ t ~ - jJ 4 z G, P T f' I ~, _. ; ~` ~k. l I - T - -'~,.~~. 3 ~ ~ CFN CH~.iTCHn~GrJVK~'J/ f l _ .~ __ •-..~a..__a... ,Q.. 't ~ _.~ ~ t~ -~ -r., - City nftongwoad j~ ""- - - '-a r,`' ,,~ t ~ ~ - $.- {, _ r, lF 8 _ l L _ _ -F ... ,~ ~ ~_^ , ~.~Cdy~ofWroterSprings ~.~ _ , _. u~m 3 ~,- ~ ~ ;` = ;. Q 11_„ ~°..~~ ...e _ ~. "_ i_ r :, °,.: a , , ~ Er, r~,~,~ tx on .. T 7 sn ~° '.' \"O F do~ . , ~ - ve r ~ 1,th f'iy F A ~ 4 ~ t '*`~, _ ^r _ f k 1 - r - s "; -._ f ~ ~._ ~ n F.r.~ , Ciiy~oflFQSSelberry ` -f r,~ei~e~r" ~ L ~ P ~ ~ ~ r, r ~T,.. 'F ~ ~ ~ ~ kj, 1, - ,-, .. ~~ ~ F F CLL'L .f I ..J J ,a?. :, -.. ~ - -. t ~ d ~ -r ~: Y r :~ '-3s"•" ~~TC~ ~fi~ H~M~il. :.h Ff) LEGENO ~ ~ . - •. -. _ - ._ Seminole Way Study Corr+dor u~uK,,~,ab,,;., tr ``' ~ ~4=1~, a° - Umited Access Highways - ` ~ s Y fi + c' ~ ~ ~ , --~ t: • .. '4NAC~AN AfSyY _ _ % 1. t - ~..- ~ I ` . State Roads ~ ~„~L ~~. ~ ~ RES~CH •-w. -- -~ Caunty Roads ,~ ~, ~.. C O N S U L T A N T S Local Roads °~ ~ - *+--r*« Railroads ~ JT z n ~___ ,~ n---r~--r__, ® 4 _ ' .., 0 QS 1.0 2.0 Mdes < } ~~ ~ ~ - , SeminoleWay Industry and Facility Analysis -Draft Table of Contents Table of Contents ..............................................................................................................1 Executive Summary ........................................................................................................ ..3 Introduction and Vision for SeminoleWay ....................................................................... ..4 Study Area Context ..................................................................................................... ..5 The Vision for SeminoleWay ....................................................................................... ..5 Goals and Objectives of this Plan ............................................................................... ..7 Historical Perspectives .................................................................................................... ..9 Regional Demographics -Orlando MSA .................................................................... ..9 Central Florida as a Region .................................................................................... ..9 Orlando Metropolitan Area Historical Overview ...................................................... ..9 Population Trends through 2005 ............................................................................. 10 Population in the Future .......................................................................................... 12 General Employment Trends .................................................................................. 14 Character of Employment Growth ........................................................................... 17 Population and Income Demographics -Seminole County ........................................ 20 Past Development Trends -Seminole County ........................................................... 24 Office Trends ........................................................................................................... 26 Industrial Trends ..................................................................................................... 29 Multi- Family Residential Trends :............................................................................ 30 Geographical Distribution of Existing Uses ................................................................. 31 Office Concentrations .............................................................................................. 31 Industrial Concentrations ........................................................................................ 32 Multi-Family For-Sale and For-Rent Concentrations ............................................... 33 Economic Development Resources ................................................................................ 35 Regional Resources .................................................................................................... 35 Infrastructure Resources ......................................................................................... 35 Specific Seminole County Resources ......................................................................... 37 Regulatory Resources ............................................................................................. 37 Financial Resources ................................................................................................ 37 Education Resources .............................................................................................. 38 Futures Analysis .............................................................................................................. 40 Economic Cluster Analysis .......................................................................................... 40 Research Framework .................................................................................................. 41 Competitive MSA Clusters .......................................................................................... 41 Cross-Cutting Recommendations and Observations: Clusters ................................... 47 Four Seminole Way Clusters ...................................................................................... 49 Cluster: Digital Media .............................................................................................. 49 Cluster: Life Sciences ............................................................................................. 53 Cluster: Financial Services and Information Services ............................................. 56 Cluster: Technical and Research Services ............................................................. 58 Land Use Analysis .......................................................................................................... 61 Study Corridor and Methodology ................................................................................ 61 Future Land Use Policies ............................................................................................ 63 Transportation Network ............................................................................................... 70 Environmental Constraints .......................................................................................... 70 Development Opportunities ......................................................................................... 74 Analysis Assumptions and Methodology ................................................................. 74 REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATTING JACKSON KERCHER ANGLIN SeminoleWay Industry and Facility Analysis -Draft Development Opportunity Areas (Vacant and Underutilized Properties) ................ 74 Future Land Use Designations of Development Opportunity Areas ........................79 Land Use Conclusions ................................................................................................85 Conclusions and Recommendations of this Effort .......................................................... 87 The Vision for SeminoleWay .......................................................................................87 Economic Futures Analysis .........................................................................................87 Land Use Analysis ...................................................................................................... 88 Next Steps ....................................................................................................................... 89 REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATTING JACKSON KERCHER ANGLIN 2 C`~9':'~'~~:T.1 rTilTC~7 ,\ Indust and Facilit Anal sis ~~' ~ y y Executive Summary ~~ ..~4`~~, Imo. _ Cl NI ~ Nl r Y, t~. -, 1, ~a~ ~~', 1 } r' ~ _„-.~,^ Fu-49 „~.: ^... ~ ~ ~M.^' w^.~ +.'aM°idkcroF"nr'~'" .E,. ~ ss ~ `~ ~ ~ ~,_. ~- ~ ~ .GfyofSanforA ~ , _ ~ is ~` -c.,~~w i~,r,1 - _. ._. - _ '? ~ r z i ~. ~ T Clty Of 1_ ~. - _ _ m - 1V ~! M E`T i .. ~ ... . ( 4. , ~`_ ~~,i. ~ - -:r~r'~ ~ Ate ,~....;, _ , .. b' ~ C AK£ ~ '~iLVU ~ s ~'.'~.. ~ ur`~~~' „A ~~ -~,_ ~ K ~ Y .~`` rt ! ~ -~ _ ~ ~_,~ .+.~ I 4 i - _. I - _ - 1 _. ~~ C~ - ' ~~.- 'tYJ O .. z - t- '1~' 3 -o ,4„t - ~~ . i. ! f _ ~, _ t C ~ t C _,-r~ --- 'c - - ..v - t.! p i ~ ~ ~;~~rcn~r«N~NS nnv~:r s ` ~ ` ' ~~ ~~ ~ ~ ~ ,~1, ~_ ~ - ~ v~ Lnkelesup 3 -~ r x ~CityofLongwood; ~~i r ~ ~" ~~ `~'~~, ~t _ ~. , ,~, _ _ x` ~~ ~_ ~; _ - $R4 4 - ._ ._. - _ - •- ~i 4 City~ofK/rnterSprings ~~~~ r,,,,,,~,~~f"""' r ~ ., '' t - r ~ ~ ~ _ , t = ~ ri ~i E.% xrrH r fkn;r a hr~ •r ~ ~' -rri ~. T ~`„~ ~Mrva ~ °' ~ ~ a '- f ~ a-.' y ~x ~,~ ~~ - _ ~ ~ - - ~v~e~o z a ' p Crtyot4~aszelb,erry E ~~~~P~F~tit p~. _ ~_. , ~~ ~.d.,r.~~ '~ "~ ' ~ ~ ~ _ r ~ ~ r _t TC~E1~H~frt`.1 •h~RU t;. LEGEND ' ~` .r, i I ~ _, r ` f' _ ~ _ Semioo[e Way Study Corridor u~c, ~ ~~ ~_+q, ,~ ~ 'A_R ,,, _ =~ ,- - ~- ~~` ~ "'•"`' i-- -~ 'i, Limited Access Highways ~ 4,_ y ' ~ H A ~ i ,. Uin.rhtrnHO.?C!:_ ~, _ r.o<.~.. StateRoads ~ ~ ~ r :-~-..~.-~ ~~~~~ ,~ ~ _ _ ~ 3 ~ ~ RESEABCN County Roads K `~4 ~ ~ ' - ~' C O N SU l T A. N Y S a' Loca) Roads ~. `, o: i ~ - ~ . o ~, ~t _ ~ - _ +~++* Railroads ~ ~~ i ~ ~~ ~ - 2. 0 0.5 1.0 2.0 Miles ~~" `~ ~, _ ' ,,~" > _ n, -{~.~~.w SeminoleWay Industry and Facility Analysis -Draft Executive Summary REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATTING JACKSON KERCHER ANGLIN Picture SeminoleWay Industry and Facility Analysis -Draft Introduction and Vision for SeminoleWay Preparing a guide for quality economic development for the future of a vital community like Seminole County needs clear vision and leadership. It requires coordination and consistency of policies, as well as supporting infrastructure and resources. To enhance the opportunities for successful implementation, it also takes relevant and accurate information regarding the economic marketplace and the possible obstacles that might constrain or redirect the most practical options and pathways. In a globally competitive world where technological changes can sweep swiftly like waves across the sea, one locale must focus intently all of its resources on the target and move quickly. At the same time, foundations must be laid to provide the infrastructure and support systems that might not be fully capitalized for a decade, or more. In this evolving and highly charged environment, reflecting the character of a well built community already near maturation, the SeminoleWay initiative was conceived by a visionary partnership of business and governmental leaders -The Seminole County Regional Chamber of Commerce. The Mission: to create a strategic land use and economic development plan focused on attracting high value/high wage jobs and businesses to the county along the State Road 417 Corridor and across I-4 to the Port of Sanford, For the past twenty years, Seminole County has pioneered and wrestled with the challenges of maintaining a strong comprehensive plan that encourages positive economic growth for the future beyond only dependency on ad valorem tax-supported growth. The SeminoleWay initiative will continue this forward thinking and create an positive environment and effective strategies for bringing business and government together in pursuit of a strong, stable, and relevant economic future of investment, livable incomes, and high quality employment. In the following pages, this report explores: 1. goals and visions for economic development in the SeminoleWay corridor; 2. local resources for economic development; 3. important and relevant historical economic trends in Seminole County and the central Florida region; 4. economics futures for the county; and 5. land use trends and policies that will be important to attracting high value/high wage jobs and businesses to the county. All five of these subject areas must be incorporated into a coordinated and effective strategy for identifying how the SeminoleWay dream may come true. REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATTING JACKSON KERCHER ANGLIN 4 SeminoleWay Industry and Facility Analysis -Draft Study Area Context Seminole County has identified a study corridor generally consistent with the alignment of SR 417, extending north from Orange County to Interstate 4. Along this corridor there are seven interchanges providing varying access to approximately 3,700 acres of undeveloped property distributed among owners of more than 4,000 vacant or seriously underutilized parcels. The county has indicated a preference to position this corridor to support targeted industries which might complement or expand the base of high technology, higher wage employment already established in the North I-4/Lake Mary HIP area and proximate to UCF in Orange County. Preliminary assessment of the opportunity has suggested that only a limited number of the undeveloped acres (25% or less) are in large assemblages and only a small part of the larger parcels are adequately served by SR 417. The restricted access may be further constrained by the toll structure on SR 417 and the absence of supporting alternate roads paralleling the expressway. In any case, potential industry targets, typical users associated with these targets, the supportable scale of development, land use designations consistent with these activities, location or infrastructure requirements, and the range of incentives or policies necessary to induce the targets to the corridor are the primary issues addressed in this report. Given concerns about the corridor's transportation capacity, special consideration of how spatial relationships and mobility could affect any implementation strategy are also part of this analysis. Practically, this analysis accepts the limitations imposed by the physical configuration of the existing road system and evaluates alternatives generally matched to the known or anticipated capacity. A later phase of this planning initiative might identify alternative prospective economic development opportunities and modify or enhance the assumptions regarding infrastructure perceived necessary to secure these opportunities. The preferred approach is to pursue the former option, considering the latter only if the initial assessment points to obviously unexploited target segments of exceptional high value. Ultimately, the basis for proceeding with the preferred plan is a comparison of the fiscal and economic advantages of a trend-based analysis reflecting current land use expectations relative to the fiscal and economic advantages realized under altemative scenario(s). These comparisons would focus on the expectations of shifting emphasis from lower valued land uses to higher value land uses and activities however these may be defined in the course of this work. The Vision for SeminoleWay It is extremely difficult to measure success and create a pathway to it if no clear vision for the outcome can be defined. One can imagine a high rise office tower, design it, build it, occupy it, and know when the project is manifest. The same is generally true with a residential subdivision, an airport, a downtown, a roadway, or a university. It is almost impossible to measure success of an economic development initiative without defining goals and objectives of the process; setting measurable benchmarks for jobs REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATTING JACKSON KERCHER ANGLIN 5 SeminoleWay Industry and Facility Analysis -Draft and investments; coordinating land use and regulatory policies; establishing specific desired outcomes; and providing tools and resources along the pathway. At the end of the effort, what Seminole County community and government leaders want are high value investments and high wage jobs in target industries sectors that will provide economic stability and growth for the next twenty years, or more. For many in local leadership roles, the vision is embodied not in the next successful office development or the next industrial park, which are easily predicted and clearly envisioned. Rather, they are wrestling with defining what will be relevant and needed in the county and the region when the next generation of leadership is in control and making decisions about what is best for its community. For many, it is necessary to understand what is emerging or only anticipated at this time -what will the future bring? This report attempts to bring emerging economic trends and industry clusters into focus and to evaluate their suitability for the SeminoleWay corridor. As part of our analysis, many stakeholders of the community and local businesses were interviewed to find the common elements of the vision, and to express goals and objectives for this planning effort and its implementation. Based on the results of this analysis to date, "Success" would be defined as: 1. A vision or plan based on realistic economic opportunities for the Corridor, blending public resources, private business interests and education; 2, Attraction of businesses that add to the County's quality of life through stable investment, high-wage employment, environmentally friendly development, and support for existing economic base; 3. Expansion of the County's non-residential ad valorem tax base and other revenue sources; 4. Provision of appropriate land use controls and comprehensive plan policies throughout the Corridor to allow desirable "high value/high wage" (and maybe "high tech") businesses to find a place in the county; 5. Land owners understanding the vision of SeminoleWay and "buying in;" 6. Certainty that infrastructure resources, policies, and incentives are aligned at county and municipal levels to enhance the chances of achieving the economic development vision. The "Vision" held by community stakeholders includes many specific goals and objectives, key observations such as those shared in the following pages. REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATTING JACKSON KERCHER ANGLIN 6 SeminoleWay Industry and Facility Analysis -Draft Goals and Objectives of this Plan The following specific goals and objectives have been excerpted from surveys of local leaders and stakeholders in the SeminoleWay study corridor. For this analysis, goals and objectives are grouped by major topic relevant to development of a plan for SeminoleWay: Comprehensive Plans for Countv and Cities 1. Insure that rules, regulations, and land uses are appropriate 2. Comprehensive plans need to be consistent and appropriate 3. Make sure all comp plan amendments are successfully completed Countv participation and city cooperation 1. Don't assume much investment of resources from county 2. Cities of Sanford, Oviedo, and Winter Springs need to participate/cooperate 3. County should playa "supporting" role, not lead implementation 4. "Concerted response" between county, cities, and business community 5. Cities and county should have similar land use policies for consistent response to prospects that share in the vision Land Utilization and Density 1. Higher densities should be allowed around key intersections or "nodes" 2. alt rural lands and environmental lands need to be protected 3. 17-92 and SeminoleWay are two "long-term" corridors 4. Higher density "hubs" should be allowed/promoted around sr 417 interchanges 5. Pursue highest and best use for remaining vacant lands 6. Allow mixed land uses to provide more long-term sustainability and give "back-stop" for target industries 7. Land uses in the corridor need to include residential for 24-hour activity Property Owner and Developer Response 1. Development environment needs to be "developer friendly" 2. Looking fora "seamless" land use corridor that can be marketed to development community 3. Get landowners to "buy in" which includes proper incentives such as additional entitlements and mixed uses Incubators and Hi-Tech Industry Generation 1. Should be more development like incubators that foster spin-off growth 2. Specify target industries and be receptive to prospects 3. Focus on key local "hi-tech" industries, including: a. optics, photonics b. lasers, simulation, modeling c. digital media d. aerospace and civil engineering ("green sciences") e. microbiology 4. Repeat local examples of "home-grown" incubator spin-offs such as RINI Technologies and Crystal Photonics 5. Insure that facilities needs are met with Class B office or flex-space products REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATTING JACKSON KERCHER ANGLIN SeminoleWay Industry and Facility Analysis -Draft 6. Incubators have a 50% success rate; 84% of graduates stay nearby; graduates have 5 to 10 year maturation period 7. Attractive offices of the future need to add technology and other amenities to distinguish product to a high value target prospect Role of the Orlando-Sanford International Airport 1. Important to get cooperation and support of Sanford and Airport 2. Airport and surrounding land should become a "core" for high-value industry development 3. Sanford and airport should be key partners in this effort Role of Education and University 1. Seminole County communities are attractive and should be considered "assets" along with schools and workforce 2. "Affordability" of housing for workforce a limiting issue 3. Build on programs at UCF that can support new high-wage employment 4. Provide attractive community environment for university researchers, faculty, and graduates Economic and Fiscal Impacts 1. Attract development with "high-value tax base" and derive new construction impacts (UCF incubator is good example) 2. Lake mary/I-4 sub-area must be promoted to grow more businesses that need expanded space or lower rents 3. "Redevelopment" in the con-idor makes sense to achieve objectives 4. "Success" will also be measured in potential tax base enhancements; method needed to measure jobs, tax impacts "before and after" -county must document return-on-investment Moving forward with the next phases of planning for SeminoleWay, these goals and objectives -along with the findings of the industry analysis and land use analysis -will form the basis of a strategic plan and an action agenda. REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATTING JACKSON KERCHER ANGLIN 8 Team Member: ~ RESEARCR ~-~ . ~ - - °r q ~~ - 4 C O N S U W A N T S- 4 , _, ywC`P' u by uAv,,W°'" ~-F-~V _ i. _ 1 ni ~ Ott' _ k!`~ r..~~ r _ / ~ ~ ~~__ err. ~utn~ n~t~, LEGEND ' _ ~ ~-. N. ,. _~ .. i ~ films - : ,.. Seminole Way Study Corridor uci~ .~c,g~~, „ ,y ~ '' Umited Access Highways h ~ ~"; . , is ,` t, State Roads t ...._ .~ ~~~~,~~ ~-- -- -~ ~ _ ~ RESEARCH .--Y'•-.--• County Roads ~ o, -~ a - O O N S U l i A N T 5 local Roads k' J. ~~_. 6 .r _ . __ ~•+-~~ Railroads _ -~t _. . _. .p,,,, 0 0.5 1.0 2.O Miies r ~ "' , SeminoleWay Industry and Facility Analysis -Draft Historical Perspectives Regional Demographics -Orlando MSA Central Florida as a Reaion The Orlando Metropolitan Statistical Area (MSA) is comprised of four counties: Orange, Osceola, Seminole and Lake and is situated in the east-central portion of the state. The 2005 population estimate was 1,953,354, and the 2025 forecast projects the Metro Area's population will increase by more than half to 3,059,540, or by 1,106,186 new residents. Like population, housing units have grown at a tremendous pace. In 1970, the five county total was approximately 263,000 units. The 2000 Census count estimated the figure to be 910,000, while the 2025 forecast figure is almost 1,600,000 housing units. The region has been experiencing a transition from an agricultural area to a residential community in the past decades due to the declining economic viability in the agricultural industry in this region. This has had ramifications on the types of land uses that have been approved and developed, their scale and density/intensity, and their location in the region and county. Orange County has developed quicker due to its superior access, as well as major employment and activity centers and municipalities. The southeastern quadrant of the county has been catching up with an assortment of residential communities and supporting commercial facilities, coinciding with the expanding access and transportation facilities constructed in the 1990s that linked the area closer to the Orlando core and other regional activity/employment centers. A similar trend is expected to occur in the southwestern areas of Orange County and southern Lake County over the next decade with the completion of the western beltway (429). Mirroring the residential growth in the recent past, the counties within the Central Florida region have experienced a healthy growth in supporting non-residential development. The following is a summary of the tax rolls for the five counties in the region for space built as of 2005: • Retail -approximately 165,000,000 square feet of retail development. • Office -almost 85,000,000 square feet of office development. • Industrial -approximately 196,000,000 square feet of industrial development. • Hotels and Accommodations -more than 125,000 rooms and timeshare units • Single family homes -approximately 700,000 units • Multi-Family apartments -approximately 275,000 units Orlando Metropolitan Area Historical Overview The Orlando Metro Area is the third most populated MSA in the State of Florida, ranking just behind the four-county, Tampa-St. Petersburg MSA and the single county, Miami- Dade MSA, respectively. The Lakeland-Winter Haven MSA ranks ninth in the State, sandwiched between the Daytona Beach MSA (8th place) and the Melbourne-Titusville- Palm Bay MSA (10th place). In total, the cost-to-coast regional "belt" now contains a combined total population of more than 3.5 million persons, placing it among the top ten REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATTING JACKSON KERCHER ANGLIN 9 SeminoleWay Industry and Facility Analysis -Draft "consolidated metropolitan areas" in the nation, competing for attention and resources with regions such as New York, Chicago, Los Angeles, Washington-Baltimore, and Dallas-Fort Worth. The four counties in the Orlando MSA are inextricably linked through the metro area's major road network, international airports, commuting patterns, educational facilities, major employment centers, retail centers, and sporting and cultural facilities. Each of the four counties is simultaneously co-dependent and independent. As the Lakeland- Winter Haven, Daytona Beach, and Melbourne-Titusville MSA's continue to grow, they develop closer links to the Orlando MSA. Population Trends through 2005 The following tables summarize the population trends within the metro area: Population: Orlando MSA Counties, 1980 to 2005 Geo ra 'h 1980 Po ulation 1990 Po ulation 2000 Po ulation 2005 Po ulation Florida 9 746,961 12,938 071 15 982 378 17,918 227 Lake Coun 104,870 152,104 210,528 263,017 Oran a Coun 470,865 677,491 896,344 1,043,437 Osceola Coun 49,287 107,728 172,493 235,156 Seminole Coun 179,752 287,521 365,199 411,744 Four Count Total 804,774 1,224,844 1,644,563 1,953 354 Po ulation Chan e Geography 1980-1'990 1990-2000 2000-2005 Florida 3,191,110. 3,044,307 1,953,403 Lake Coun 47,234 58,424 52,490 Oran a Coun 206,626 218,853 147,093 Osceola Coun 58,441 64,765 62,663 Seminole Coun 107,769 77,678 46,545 Four Count Total 420 070 419 719 308,791 Source: RERC; US Census Bureau, 2005 is an estimate published by BEBR in February 2006 During the 1980 to 1990 period, the four counties profiled grew by more than 420,000 residents, which is an annual growth pace of 42,000 per year. US Census records indicate growth in the 1990 to 2000 period maintained an average of about 42,000 new residents per year to reach a 2000 population of 1,644,563. The state has continued to increase its population by over 3 million per decade in the past twenty years. Local counties in Central Florida and the State as a whole have seen a healthy increase in the rate of population growth within the past five years compared to earlier time periods. The table above reflects the following: REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GIATrING JACKSON KERCHER ANGLIN 10 SeminoleWay Industry and Facility Analysis -Draft • Lake County has experienced a continuous upswing in population growth, adding 47,000 between 1980 and 1990, while adding over 58,000 between 1990 and 2000, and has already added 52,490 between 2000 and 2005. • Orange County continues to dominate the focal landscape in terms of population growth, adding over 200,000 people in each decade for the past twenty years. In the period between 2000 and 2005 it is estimated Orange County added approximately 147,100 residents at a rate 50% ahead of the past two decades. • Osceola County is continuing to grow ever faster, adding more than 58,000 between 1980 and 1990 and almost 65,000 between 1990 and 2000, and has already added more than 62,600 between 2000 and 2005. • Seminole County's growth slowed in the last decade, adding approximately 77,600 residents between 1990 and 2000, after adding almost 108,000 between 1980 and 1990. Since 2000, however, the pace has quickened with more than 46,500 new residents. • Orange County still dominates the population growth in the four county area, accounting for about 50% of the population growth between 1980 and 2005. • Lake County's share grew from 11 % in 1980 and 1990 to 13.5% in 2005. • Osceola County's share has more than doubled since 1980, from 5% to 12% in 2005. • Seminole County's share remained fairly constant, rising from 15% in 1980 to 21 % in 2005. POPULATION CAPTURE BY COUNTY, 1980- 2005 SEMINOLE, 20.2% LAKE, 13.8% OSCEOLA, 16.2% ORANGE, 49.9% Source: University of Florida; BEBR -Florida Population Studies; RERC The continuing pace of growth reflects the region's ongoing suburbanization and provision of improved access and transportation facilities. Three distinct "waves" of population expansion have swept the metro area since the early 1970's, as illustrated in the following chart: REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GIATTING JACKSON KERCHER ANGLIN 11 SeminoleWay Industry and Facility Analysis -Draft Population in the Future As rapid growth escalates in the early years of this decade, changes in geographic distribution can also be expected, reflecting both spreading suburbanization and intensifying urbanization. More than 1.1 million new residents are projected by 2025. The most notable factors are summarized below: • Orange County is expected to continue capturing roughly half of the projected population gains over the next twenty years, reaching a total of almost 1.6 million people by 2025. • The second fastest growing county will be Osceola, accounting for almost 19% of the metro area growth and reaching a population of more than 443,600 by 2025. • Following closely will be Lake County, already the third most populous county in the metro area. Lake should capture just over 16% of the metro area's growth, reaching a total of 443, 700 or more by 2025. • Seminole County will slip to fourth, adding about 168,600 people by 2025, or about 15% of the metro total. REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATTING JACKSON KERCHERANGLIN 12 SeminoleWay Industry and Facility Analysis -Draft POPULATION TRENDS AND PROJECTIONS, METRO ORLANDO, 1980-2025 1,800 000 1, 1, 1, 1, 0 1980 1990 1995 2000 2005 2010 2015 2020 2025 LAKE -^--ORANGE -,4~-OSCEOLA ~-SEMINOLEI 600,000 400 000 , 200 000 , 000 000 , ----- 000 800 -- , 600 000 - , 400,000 200,000 Source: University of Florida; BEBR -Florida Population Studies; RERC Population Forecasts: Orlando MSA Counties, 2005 to 2025 Geo rah 2005' Po ulation 2015 ' Po ulation 2025 Po ulation Florida 17,918,227 .21,767,503 24,998,018 Lake Coun 263,017 359,898 443,159 Oran a Coun 1,043,437 1,340,561 1,592,346 Osceola Coun 235,156 346,740 443,630 Seminole Coun 411,744 504,074 580,405 Four Count Total 1,953,354 2,551 273 3,059,540 Po ulation Chan e Geography 2005-2015 2015-2025 Total Florida 3,849;276 3,230,515 7,079,791. Lake Coun 96,881 83,261 180,142 Oran a Coun 297,124 251,785 548,909 Osceola Coun 111,584 96,890 208,474 Seminole Coun 92,330 76,331 168,661 Four Count Total 597 919 508 267 1,106,186 Source: US Census Bureau; BEBR February 2006; RERC REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATTING JACKSON KERCHER ANGLIN 13 SeminoleWay Industry and Facility Analysis -Draft POPULATION CAPTURE BY COUNTY, 2005- 2025 SEMINOLE, 15.2% LAKE, 16.3% OSCEOLA, 18.8% ORANGE, 49.6% Source: University of Florida; BEBR -Florida Population Studies; RERC General Emglovment Trends Metro Orlando's dramatic growth has been fueled not only by increases of population, but also by strong employment expansion and diversification. During the past decade, both indicators have shown steady gains, except for a small and brief employment downtown in 2002. ANNUAL POPULATION AND EMPLOYMENT CHANGES, METRO ORLANDO, 1995-2006 80,000 70,000 -- - -- ---- 60,000 - -- 50,000 - f 40,000 -- ~ - -- - 30,000 - ~ - - - 20,000 - - 10,000 - 0 ~ 1995 1996 1997 1998 1999 2000 '2001 2 2003 2004 2005 2006 -10,000 --- -20,000 p POPULATION CHANGE ^ EMPLOYMENT CHANGE Source: University of Florida; BEBR -Florida Population Studies; RERC Since 1970, metro Orlando has experienced actual losses in employment during only three of the past 35 years has metro Orlando experienced actual losses of employment - in 1974, 1990, and 2002 -roughly every 12 to 15 years. In each case, the local economy recovered and replaced all of the lost jobs within 12 to 18 months. This REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATTING JACKSON KERCHER ANGLIN 14 SeminoleWay Industry and Facility Analysis -Draft remarkable resilience was demonstrated once again with the dramatic rebound of the economy in 2003, 2004, and 2005, with annual employment gains reaching record levels. Source: University of Florida; BEBR -Florida Population Studies; RERC During the 1990 to 2000 period, the four counties profiled grew by more than 333,000 jobs, which is an annual growth pace of 33,000 per year. Records indicate growth in the 2000 to 2005 period declined somewhat to an average of about 20,000 new jobs per year to reach a 2005 total of almost 1.2 million. The state has continued to increase its employment base in the past twenty years. Local counties in Central Florida and the State as a whole have seen a healthy increase in the rate of job growth within the past three years compared to the early 2000's when the national economy was in a deep recession. Notable observations from this employment data include the following: • Lake County has experienced a continuous upswing in employment growth, adding 27,900 between 1990 and 2000, and almost 10,000 more between 2000 and 2005. • Orange County continues to dominate the local landscape in terms of employment growth, adding over 220,000 during the 1990-2000 period. In the period between 2000 and 2005 it is estimated Orange County added almost 50,000 new jobs. • Osceola County is continuing to grow productively, adding over 20,000 new jobs between 1990 and 2000, and has already added more than 10,500 more jobs between 2000 and 2005. • Seminole County's growth slowed in the last decade, adding approximately 64,000 new jobs between 1990 and 2000. Since 2000, however, the pace has quickened with more than 31,200 new jobs. REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATTING JACKSON KERCHER ANGLIN 15 SeminoleWay Industry and Facility Analysis -Draft • Orange County still dominates the employment growth in the four-county area, accounting for about 62% of the population growth between 1990 and 2005. • Lake County's share of metro employment grew from 7.9% in 1990 to 8.2% in 2005. • Osceola County's share has also grown since 1990, from 5.9% to 6.4% in 2005. • Seminole County's share reflects an increased economic role, rising from 16.4% in 1990 to 18.5% in 2005. Employment: Orlando MSA Counties, 1990 to 2005 Geo rah 1990 Em to merit 2000 Em to merit 2005 Em to 'merit Lake Coun 58,800 86,750 96,600 Oran a Coun 522,460 742,530 790,750 Osceola Coun 43,740 64,490 74,990 Seminole Coun 122,250 186,650 217,880 Four Count Total 747,250 1,080,420 1,180,210 Em to merit Chan e Geo raph 1990-2000 2000-2005 .Total Lake Coun 27,900 9,850 37,790 Oran a Coun 220,070 48,220 268,290 Osceola Coun 20,750 10,510 31,260 Seminole Coun 64,400 31,220 95,630 Four Count Total 333 170 99,790 432 960 Source: US Census Bureau; woods & Poole; Kthtc; EMPLOYMENT CAPTURE BY COUNTY, 1990-2005 SEMINOLE, LAKE, 8.7% 22.1 OSCEOLA, 7.2% ORANGE, 62.0% Source: University of Florida; BEER; Woods 8~ Poole Economics - 2005; RERC As our region continues to grow over the next two decades, most forecasts conservatively anticipate a continuation of recent annual employment additions and capture rates between counties. Even so, the metro area is projected to add at least REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATTING JACKSON KERCHER ANGLIN 16 SeminoleWay Industry and Facility Analysis -Draft 30,000 to 35,000 new jobs each year through 2025. The central counties of Orange and Seminole are expected to capture 80% to 85% of new employment additions. Employment Forecasts: Orlando MSA Counties, 2005 to 2025 Geo rah 2005 Em to merit 2015 Em to merit 2025 Em to merit Lake Coun 96,600 111,840 127,090 Oran a Coun 790,750 1,002,550 1,214,290 Osceola Coun 74,990 97,290 119,670 Seminole Coun 217,880 294,690 371,420 Four Coun Total 1,180,210 1,506 370 1,832 460 Em to merit Chan e Geography 2005-2015 2015-2025 Total Lake Coun 15,240 15,250 30,490 Oran a Coun 211,810 211,740 423,540 Osceola Coun 22,300 22,370 44,680 Seminole Coun 76,810 76,730 153,540 Four Count Total 326,160 326,090 652 250 Source: US Census Bureau; Woods 8 Poole; RERC EMPLOYMENT CAPTURE BY COUNTY, 2005-2025 SEMINOLE, LAKE, 4.7% 23.5% OSCEOLA, 6.8% ORANGE, 64.9% Source: University of Florida; BEBR; Woods 8~ Poole Economics - 2005 Florida State Profile; RERC Character of Emplovment Growth The demand for various goods and services, housing, and other real estate is largely driven by the amount and character of jobs formed in the region over a period of time. While the metro Orlando area is well known for the pace of its employment growth, it is the diversity of its job formation that has shaped a healthy, well-rounded economic base. REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATTING JACKSON KERCHER ANGLIN 17 SeminoleWay Industry and Facility Analysis -Draft TOTAL EMPLOYMENT BY COUNTY, METRO ORLANDO, 1990-2025 1,400.00 1,200.00 - 1,000.00 - 800.00 600.00 400.00 - 200.00 0.00 -° ~ -- 1990 1995 2000 2005 2010 2015 2020 2025 ORANGE -~SEMINOLE SLAKE -,i,--OSCEOLA Source: University of Florida; BEBR; Woods & Poole Economics - 2005 Florida State Profile; RERC During the past decade, every major employment sector has experienced gains, even manufacturing activities. Two of the most significant economic growth sectors have been Professional and Business Services and Construction; each has expanded by more than 100%. The next tier of growth includes a variety of service-related sectors, including Education and Health, Leisure and Hospitality, and Retail Trade. Also showing strong growth have been Information Technology, Real Estate, and Wholesale Distribution. This balanced growth trend has kept the Orlando economy healthy through national recessions and travel downturns. TOTAL EMPLOYMENT AND ANNUAL GAINS, METRO ORLANDO, 1995-2006 80,000 1,100,000 70,000 60,000 1,000,000 50, 000 900,000 4Q 000 30,000 e' 800,000 20,000 ~ 10,000 ~a ;< 700,000 0 .. ~. ~_ ~. +p + 600,000 -10,000 19951996 199719981999 2000 2001 2 2003 2004 2005 2006 -20,000 500,000 o ANNUAL EMPLOYMENT GAINS tTOTAL EMPLOYMENT Source: University of Florida; BEER; Woods & Poole Economics - 2005 Florida State Profile; RERC REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATTING JACKSON KERCHER ANGLIN ~ 8 SeminoleWay Industry and Facility Analysis -Draft The charts below demonstrate these patterns of employment growth over the 1995 to 2006 period: PERCENTAGE EMPLOYMENT GROWTH BY CATEGORY, METRO ORLANDO, 1995-2006 Public Sector Other Services Leisure 8 Hospdaltty Education & Health Services FYOfessbnal 8 Business Services Finance/hsurance/Real Estate hformation Retail Trade Wholesale Trade Transport/Warehous ingNtiltties Manufacturing Construction Mning - ~ 31. h 63.7°~ I 41,8°k a r-~ -:,-_ r -v.,..-: .~ , 102.9°k _ ... ,,, 7->~-^. 41.3% uacx fcr 41.9% I • ' 41.4% ,~ ...~. ;: ~.. 39.6°k i i ~.,. ,...: ,: _. 21.8% 2.2°~ 38.0°k ';mtr 33 3°k ~ 0.0% 20.0% 40.0% 60.0% 80.0% 100.0% 120.0% 140.0% 160.0% Source: University of Florida; BEBR; Woods & Poole Economics - 2005 Florida State Profile; RERC EMPL OYMENT GROWTH BY CATEGORY, METR O ORLA NDO, 19 95-2006 Fublic Sector ~ -.x~ ~, Other Services Leisure & Hospttaltty ., ,r.: i Education 8 Health Services Professional 8 Business Services Finance/hsurance/RealEstate hfornration ~1 ~ ~rr~rsTar - r~^;- «C Retail Trade ~ . Wholesale Trade Trans port/Warehousing/Utiltties Manufacturing Construction Mning ' 1 0 10,000 20,000 30,000 40,000 50, 000 60, 000 70, 000 80, 000 90, 000 100, 000 Source: University of Florida; BEBR; Woods & Poole Economics - 2005 Florida State Profile; RERC REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATTING JACKSON KERCHER ANGLIN 19 SeminoleWay Industry and Facility Analysis -Draft Population and Income Demographics -Seminole County While Seminole County shares many of the traits and demographics of the greater Orlando, MSA, an examination of population and income demographics specific to the county serves to illustrate the detailed landscape in which the SeminoleWay vision can ultimately flourish and be fulfilled. A closer look at Seminole County is particularly important when tasked with determining the focal resources capable of supporting Seminole County specific targeted industry clusters. Any recommendation stemming from an economic and industry analysis must necessarily consider many facets of population and income including existing conditions, past growth trends, and future projections. As of the most recent 2007 estimates, Seminole County consisted of approximately 160,000 households totaling more nearly 418,000 persons, approximately 60,000 more persons than indicated by the 2000 census. While population growth has recently occurred at a relatively modest two percent compound annual growth rate, Seminole County has steadily improved upon what was already the highest median annual household income in the Orlando MSA, nearly $50,000 per household in 2000, to over $57,000 per household in 2007. Additionally, Seminole County has experienced a decrease in the percentage of households in the lowest income brackets and an increase in the percentage of households in the very highest income brackets. Favorable household income demographics typically illustrate that Seminole County currently possesses the variety of housing types, and other assorted amenities, that the employers and creators of high wage positions generally desire. Within that context, the following tables summarize Census 2000 figures, 2007 estimates and 2012 projections for key demographics for Seminole County. REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATTING JACKSON KERCHER ANGL~N 20 SeminoleWay Industry and Facility Analysis -Draft SEMINOLE COUNTY POPULATION AND HOUSEHOLDS POPULATION Seminole Co. Avg Annual Growth Rate HOUSEHOLDS Seminole Co. Avg Annual Growth Rate HOUSING UNITS Seminole Co. Avg Annual Growth Rate MEDIAN HOUSEHOLD INCOME Seminole Co. Avg Annual Growth Rate AVERAGE HOUSEHOLD INCOME Seminole Co. Avg Annual Growth Rate Source: Claritas; RERC research Census Estimate Projection 2000 2007 2012 365,196 417,992 459,295 1.9% 1.9% 2000 2007 2012 139,572 161,395 178,192 2.1 % 2.0% 2000 2007 2012 147,079 170,614 188,371 2.1 % 2.0% 2000 2007 2012 $49,419 $57,362 $62,812 2.2% 1.8% 2000 2007 2012 $63,724 $76,088 $83,965 2.6% 2.0% SEMINOLE COUNTY HOUSEHOLDS BY TYPE 1-Person, Male Hhldr 1-Person, Female Hhldr 2+people, Married Couple, Own Kids 2+People, Married Couple, No Own Kids Other Fam HH, Male Hhldr, Own Kids Other Fam HH, Male Hhldr, No Own Kids Other Fam HH, Female Hhldr, Own Kids Other Fam HH, Female Hhldr, No Own Kids Non Family HH, 2+ Persons, Male Hhldr Non Family HH, 2+ Persons, Female Hhldr 2007 °~ of Total 16,631 10.3% 21,417 13.3% 41,172 25.5% 46,985 29.1 3,228 2.0% 3,030 1.9% 10,548 6.5% 7,492 4.6% 6,605 4.1% 4.287 2.7° 161,395 100.0% 2012 % of Total 18,759 10.5% 24,009 13.5% 45,682 25.6% 51,941 29.1% 3,551 2.0% 3,316 1.9% 11,512 6.5% 8,156 4.6% 6,854 3.8% 4.412 2.5% 178,192 100.0% Source: Claritas; RERC research REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATTING JACKSON KERCHER ANGLIN 21 SeminoleWay Industry and Facility Analysis -Draft SEMINOLE COUNTY HOUSEHOLDS -INCOME RANGE 2007 2012 ESTIMATE PROJECTION < $10,000 7,902 8,018 Income Group % of Total Households 4.9% 4.5% $10,000 - $14,999 5,330 5,160 $15,000 - $19,999 6,239 6,084 $20,000 - $24,999 7.015 6.838 18,584 18,082 Income Group % of Total Households 11.5% 10.1 $25,000 - $29,999 8,023 7,687 $30,000 - $34,999 8,525 8,378 $35,000 - $39,999 8.418 8.607 24,966 24,672 Income Group % of Total Households 15.5% 13.8% $40,000 - $44,999 8,733 8,631 $45,000 - $49,999 8,828 8,877 $50,000 - $59,999 15.872 16.901 33,433 34,409 Income Group % of Total Households 20.7% 19.3% $60,000 - $74,999 18,830 20,887 $75,000 - $99,999 21.408 24.400 40,238 45,287 Income Group % of Total Households 24.9% 25.4% $100,000 - $124,999 14,242 17,018 $125,000 - $149,999 8.409 11.145 22,651 28,163 Income Group % of Total Households 14.0% 15.8% $150,000 - $199,999 6,596 9,441 $200,000 - $249,999 3,054 4,368 $250,000 - $499,999 2.658 3.827 12,308 17,636 Income Group % of Total Households 7.6% 9.9% $500,000+ 1.313 1.925 Income Group % of Total Households 0.8% 1.1 Total Households 161,395 178,192 Source: Claritas; RERC research REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATTING JACKSON KERCHER ANGLIN 22 SeminoleWay Industry and Facility Analysis -Draft SEMINOLE COUNTY HOUSEHOLDS -INCOME RANGE 2007 2012 EST IMATE PROJECTION < $10,000 7,902 8,018 $10,000 - $14,999 5,330 5,160 $15,000 - $19,999 6,239 6,084 $20,000 - $24,999 7,015 6,838 $25,000 - $29,999 8,023 7,687 $30,000 - $34,999 8,525 8,378 $35,000 - $39,999 8,418 8,607 $40,000 - $44,999 8,733 8,631 $45,000 - $49,999 8,828 8,877 $50,000 - $59,999 15,872 16,901 $60,000 - $74,999 18,830 20,887 $75,000 - $99,999 21,408 24,400 $100,000 - $124,999 14,242 17,018 $125,000 - $149,999 8,409 11,145 $150,000 - $199,999 6,596 9,441 $200,000 - $249,999 3,054 4,368 $250,000 - $499,999 2,658 3,827 $500,000+ 1,313 1,925 Source: Claritas; RERC research Notable observations from the above tables include: • Between 2000 and 2007, the population and housing unit counts within Seminole County grew by an estimated 52,796 persons and 23,535 units respectively. In addition, median household income grew from $49,419 to over $57,000 annually while average household income grew from $63,724 in 2000 to an estimated $76,088 in 2007. In the fast seven years, these increases in population and income represent an annual growth rate of approximately 2 percent. Slightly slower population growth rates, accompanied by higher household incomes indicate that new regional population is likely locating within other MSA counties based upon more affordable market dynamics. • Population, households, and household income are all projected to continue growing by approximately 2 percent annually. While these representative growth rates may be the lowest in the Orlando, MSA, Seminole County can be considered the most built out county within the MSA and possesses the highest population density per square mile and the highest average and median household incomes. REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATTING JACKSON KERCHER ANGLIN 23 SeminoleWay Industry and Facility Analysis -Draft The household income distribution in Seminole County is projected to remain favorable. Approximately 25 percent of the households in 2007 earned between $60,000 and $99,000. The existence of a large proportion of households within the higher household income brackets indicate that Seminole County has already been established as not only a concentrated pocked of high wage employment, but also a desirable destination and homestead for the highest earners. More than 22 percent of households earned more than $100,000 annually in 2007, while approximately 16 percent earned under $25,000. In the next five years, the under $25,000 income bracket is projected to shrink to 15 percent of total households. Likewise, high income households are expected to increase. The over $100,000 income bracket is projected to grow to 27 percent of total households by 2012. • The impressive household incomes and distributions within Seminole County indicate the potential for high income support industries associated with SeminoleWay targeted industry clusters and existing high wage employment. Past Development Trends -Seminole County Over the last 25 years, Seminole County has experienced, through careful planning and influenced by various market forces, several shifts in the sizing and geographic clustering of specific development, including office, industrial, and multi-family residential uses. Understanding recent trends in land use changes in addition to the existing land use picture of Seminole County more clearly highlights the path from where Seminole County has been to where Seminole County desires to go. Non population based employment generation has typically been spurred by office and industrial uses. While other commercial uses, such as retail, generally exist to serve the needs of existing population, these core uses have long existing as fountains of employment attracting corresponding workforces. In addition, noting the geographical distribution of multi-family housing can function as an additional indicator of major geographical employment centers. This brief land use analysis focuses on the past development trends of the office, industrial, and multifamily residential uses and highlights the existing geographic clustering of those same uses. The following table summarizes many of the land use development trends in Seminole County for non residential uses: REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATTING JACKSON KERCHER ANGLIN 24 SeminoleWay Industry and Facility Analysis -Draft SEMINOLE COUNTY PARCELS LAND USES -YEAR BUILT AND SQUARE FEET COMMERCIAL TOTAL NUMBER OF PARCELS AND SQUARE FEET SUB-TOTAL <7980 19 0-1989 1990.1999 2000 2001 2002 2003 2004 2005 2006 2007 2000-2007 TOTAL RETAIL Parcels 563 255 139 23 15 7 22 12 19 34 23 155 1,112 Square Feet 3,992,629 6,037,699 7,510,509 2,413,711 533,683 395,493 886,967 194,012 820,717 351,186 517,977 6,115,946 23,656,983 %tota/SF 16.9% 25.5% 31.7% 10.2% 2.3% 1.7% 3.8% 0.8% 3.5% 1.5% 2.2% 25.9% 100.0% OFFICE Parcels 383 824 288 Square Feet 2,290,643 5,985,054 4,595,817 total SF 13.2% 34.4% 26.4% INDUSTRIAL Parcels 346 460 237 Square Feet 6,040,796 8,414,546 6,647,869 total SF 23.7% 33.0% 26.1 VACANT COMMERCIAL Parcels VACANT INDUSTRIAL Parcels Source: Seminole County Property Appra iser Tax Roil, 2007; RERC research 42 22 30 23 57 105 116 100 497 1,992 769,532 829,243 795,457 165,045 318,448 356,113 694,396 613,623 4,541,857 17,413,371 4.4% 4.8% 4.6% 0.9% 1.8% 2.0% 4.0% 3.5% 26.1% 100.0% 24 31 20 35 22 30 45 108 315 1,358 418,079 904,428 607,347 785,237 221,637 350,765 632,358 470,456 4,390,307 25,493,518 1.6% 3.5% 2.4% 3.1% 0.9% 1.4% 2.5% 1.8% 17.2% 1,615 417 REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATTING JACKSON KERCHER ANGLIN ZrJ SeminoleWay Industry and Facility Analysis -Draft The most notable highlights from the above table follow: In support of recent population growth and corresponding increases in employment, approximately 26 percent of all Retail and Office square footage in Seminole County has been constructed and added to the tax roll in the last 7 years. Furthermore, more than 55 percent of all existing Office and Retail development has been constructed since 1990. The relatively high proportion of newer Retail and Office development indicate that the vast majority of these uses are functionally adequate to serve the needs of the existing and future targeted industries within Seminole County. This is further evidenced by the fact that less than 17 percent of existing Retail space and only 13 percent of existing office space was constructed prior to 1980. • While opportunities for Office and Retail redevelopment certainly exist, in total, Seminole County is likely well positioned to meet the needs of existing industries in both the present and the near future. On average, the functional age of Industrial development has exceeded that of other non residential uses. Correspondingly, approximately 17 percent of existing Industrial square footage and parcels were constructed between 2000 and 2007. This older age is not necessarily indicative of a deficit in newer and suitable Industrial space, as Industrial development typically exhibits more facile reuse properties and is not as tightly tethered to population growth. The relatively older age of Industrial development in Seminole County may however indicate a decrease in Industrial land demand as the county transitions to other industries and employment generators. Office Trends In order to better understand both historical office development trends and the existing Seminole County office inventory, RERC analyzed recent and historical property appraiser data. The following tables provide a breakdown of office square footage and parcel counts within Seminole County for all existing office development by year built and parcel square footage: REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATTING JACKSON KERCHER ANGLIN 26 SeminoleWay Industry and Facility Analysis -Draft COMMERCIAL SQUARE FOOTAGE YEAR BUILT BY STRUCTURE SIZE OFFICE SQUARE FEET <1990 1990 -1999 2000 - 2007 Total <10,000 2,526,983 758,761 1,218,075 4,503,819 of total 56.1 % 16.8% 27.0% 100.0% Parcel Count 1,072 223 416 1,711 10,000 - 49,999 2,174,668 913,248 1,222,293 4,310,209 of total 50.5% 21.2% 28.4% 100.0% Parcel Count 102 40 66 208 50,000 and Greater 3,574,046 2,923,808 2,107,684 8,605,538 of total 41.5% 34.0% 24.5% 100.0% Parcel Count 33 25 16 74 Total Square Feet 8,275,697 4,595,817 4,548,052 17,419,566 SF Time Period 47.5% 26.4% 26.1 % 100.0% Total Parcels 1,207 288 498 1,993 Parcels Time Period 60.6% 14.5% 25.0% 100.0% Source: RERC Research; Seminole County Property Appraiser Tax Roll 2007 OFFICE SPACE SQUARE FEET of Total Square Feet <7990 1990 -1999 2000 - 2007 Total <10,000 30.5% 16.5% 26.8% 25.9% 10,000 - 49,999 26.3% 19.9% 26.9% 24.7% 50,000 and Greater 43.2% 63.6°° 46.3% 49.4°° by Time Period 100.0% 100.0% 100.0% 100.0% OFFICE SPACE PARCELS of Total Parcels <1990 1990 -1999 2000 - 2007 Total <10,000 88.8% 77.4% 83.5% 85.9% 10,000 - 49,999 8.5% 13.9% 13.3% 10.4% 50,000 and Greater 2.7% 8.7° 3.2% 3.7% by Time Period 100.0% 100.0% 100.0% 100.0% Source: RERC Research; Seminole County Property Appraiser Tax Roll 2007 REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATTING JACKSON KERCHER ANGLIN 27 SeminoleWay Industry and Facility Analysis -Draft EXISTING OFFICE SQUARE FOOTAGE SIZE DISTRIBUTION 25.9% 49.4% ®<10,000 ^ 10,000 - 49,999 ^ 50,000 and Greater 24.7% - ----J The following summarizes key points from the tables above: Much of Seminole County's existing office inventory is characterized by large Class A and Class B office developments. Office parcels possessing 50,000 square feet or more of improved office space account for nearly 50 percent of all improved office square footage. At the same time, Office parcels possessing fewer than 10,000 improved square feet account approximately 26 percent of all improved office square footage. • Nearly 25 percent of the existing office developments possessing more than 50,000 square feet of improved space have been constructed since 2000. This recently constructed space is more likely to be suitable and attractive to users of both existing industries as well as users of potentially targeted industries in the near future. • In the decades prior to 1990, large scale office development (>50,000 s.f.) accounted for approximately 43 percent of all constructed square footage and 3 percent of all office parcels, while small scale office development (<10,000 s.f.) accounted for roughly 30 percent of square footage and more than 88 percent of new parcels. • Between 1990 and 2000 there was a shift in office construction towards large scale office development, where developments possessing greater than 50,000 square feet accounted for more than 64 percent of office square feet construction and nearly 9 percent of all new office parcels. • The current decade has seen a shift back to pre-1990 office construction patterns, as large scale office developments comprise just over 46 percent of the office square footage constructed between 2000 and 2007. REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATTING JACKSON KERCHERANGLIN 28 SeminoleWay Industry and Facility Analysis -Draft Industrial Trends Over time, Seminole County has experienced changes in the size and pace of Industrial development. An understanding of the functional age of Industrial development, as well as the size of development historically being constructed, can provide a useful snapshot for determining the capability of Seminole County's existing Industrial space to attract and support future users within any SeminoleWay targeted industry clusters. The following tables provide a breakdown of industrial square footage and parcel counts within Seminole County for all existing industrial development by year built and parcel square footage: COMMERCIAL SQUARE FOOTAGE YEAR BUILT BY STRUCTURE SIZE OFFICE SQUARE FEET <1990 1990 -1999 2000 - 2007 Total <10,000 2,526,983 758,761 1,218,075 4,503,819 of total 56.1 % 16.8% 27.0% 100.0% Parcel Count 1,072 223 416 1,711 10,000 - 49,999 2,174,668 913,248 1,222,293 4,310,209 of total 50.5% 21.2% 28.4% 100.0% Parcel Count 102 40 66 208 50,000 and Greater 3,574,046 2,923,808 2,107,684 8,605,538 of total 41.5% 34.0% 24.5% 100.0% Parcel Count 33 25 16 74 Total Square Feet 8,275,697 4,595,817 4,548,052 17,419,566 SF Time Period 47.5% 26.4% 26.1 % 100.0% Total Parcels 1,207 288 498 1,993 Parcels Time Period 60.6% 14.5% 25.0• 100.0% Source: RERC Research; Seminole County Property Appraiser Tax Roll 2007 OFFICE SPACE SQUARE FEET of Total Square Feet <1990 1990 -1999 2000 - 2007 Total <10,000 30.5% 16.5% 26.8% 25.9% 10,000 - 49,999 26.3% 19.9% 26.9% 24.7% 50,000 and Greater 43.2°0 63.6% 46.3% 49.4% by Time Period 100.0% 100.0% 100.0% 100.0% OFFICE SPACE PARCELS of Total Parcels <1990 1990 -1999 2000 - 2007 Total <10,000 88.8% 77.4% 83.5% 85.9% 10,000 - 49,999 8.5% 13.9% 13.3% 10.4% 50,000 and Greater 2.7% 8.7% 3.2% 3.7° by Time Period 100.0% 100.0% 100.0% 100.0% Source: RERC Research; Seminole County Property Appraiser Tax Roll 2007 REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATTING JACKSON KERCHER ANGLIN 29 SeminoleWay Industry and Facility Analysis -Draft EXISTING INDUSTRIAL SQUARE FOOTAGE SIZE DISTRIBUTION 12.5% 45.9% ®<10,000 ^ 10,000 - 49,999 ^ 50,000 and Greater 41.5% The following summarizes key points from the tables above: • As industrially zoned lands within the county have been applied and developed, the percentage of larger industrial parcels being developed and added to the property tax rolls has declined. However, the larger industrial parcels, those possessing greater than 50,000 square feet, have accounted for an increasing portion of the total industrial square feet added to the tax rolls over time. • On average, larger industrially developed parcels have been constructed more recently than their smaller counterparts. Approximately 65 percent of Seminole County's existing industrial developments smaller than 50,000 square feet were constructed prior to 1990, while only 50 percent of existing parcels larger than 50,000 square feet were constructed prior to 1990. Multi- Familv Residential Trends: Typically, multi-family apartment residential development services a large percentage of workforce and affordable housing demand. As such, apartment trends track both changes in household incomes and demand for workforce housing over time. The following table describes changes in the number of multi-family apartment parcels by year built: REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATTING JACKSON KERCHER ANGLIN 30 SeminoleWay Industry and Facility Analysis -Draft SEMINOLE COUNTY PARCELS LAND USES -YEAR BUILT AND SQUARE FEET RESIDENTIAL TOTAL PARCELS <1980 1980-1989 1990-1999 2000-2007 TOTAL SINGLE FAMILY 43,219 32,663 23,457 19,565 118,904 total 36.3% 27.5% 19.7% 16.5% 100.0% CONDOMINIUMS 4,813 6,614 2,150 2,380 15,957 total 30.2% 41.4% 13.5% 14.9% MULTI-FAMILY APT. 683 856 102 135 1,776 total 38.5% 48.2% 5.7% 7.6% Source: Seminole County Property Appraiser Tax Roll, 2007; RERC research The majority of Seminole County's multi-family apartment inventory is more than 17 years old. Nearly 77 percent of existing multi-family apartment parcels was constructed prior to 1990. Almost 50 percent of all apartment development was constructed in the 1980s, concomitant with a boom in Office, Retail, and Industrial development during the same period. Apartment demand and construction dwindled during the 1990's, suggesting either a surplus of adequate supply or more likely a shift in the housing preferences associated with the users of the large scale Office development occurring throughout that decade. Geographical Distribution of Existing Uses Office Concentrations The major office concentration in Seminole County is clustered around Interstate Highway 4 between Lake Mary Boulevard and State Road 46A. Additional office clusters exist at the intersection of State Road 46 and US Highway 17-92, the intersection of State Road 46 and State Road 46A, and the corridors connecting I-4 and US 17-92 on both State Road 434 and State Road 436. The following map depicts the major office concentrations within Seminole County: REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATTING JACKSON KERCHER ANGLIN 31 SeminoleWay Industry and Facility Analysis -Draft d /'" - ,. ~' ~`y __ `, J \ ~~ ' rie~~„rea 4 ~~ R b.-.-o. • ~ ~ , " rr- , ,~~ Apopka - ~ C ~ S• „ So th s, Apopka. ~.:~ ~. ~EH r~ VNSS1 ~ r,4 - ~ockhart' O`f~ ~. ~f I 1w ~ _~.~ ~ 1 I ~ a Fair_vle '~ i,a ~ s~l::« c- Shore i ' ~! ter Ocoee( rw~a ti ,N 1~n ~ ~, w Cdorvy ~' "`~ AVe O Number Parcels Total S uare Feet Range SF Size Average S uare Feet Range Year Built Average Year Built Area 1 260 4,457,430 700 - 604,000 17,144 1975 - 2007 2001 Area 2 144 675,298 7,000 - 59,000 4,690 1935 - 2007 1980 Area 3 133 716,390. 200 - 72,000 5,386 1910 - 2006 1987 Area 4 726 5.560.152 200 -193,049 7,659 1920 - 2007 1984 TOTAL 1,263 11,409,270 Source: Seminole Countv Prooertv Aooraiser Tax Roll; RERC Industrial Concentrations A major industrial concentration exists along State Road 427 between 17-92 and General Hutchinson Parkway. An additional major industrial concentration is clustered immediately south of US 17-92 between Interstate 4 and State Road 46. A third cluster occurs between US 17-92 and the Orlando-Sanford International Airport. The following map displays geographic industrial concentrations within Seminole County: ~ ~~ f N Chiles. 1 ltl dw~Beall ~ ~' Blvd l~~ 11 `1 ~ ~ L r Po dB~al rtil~ y~._ ~ t ~, :Area Z ~f~-~ r~ ~ 1 ~:~ - ~ f ~ rU .. f ~. ~u y ~~P/f_?r e.i ~ ~~` Y ~'~ ~ ~} rater ~'~ ~ ~' ~ pangs o;~ „ ~; v~ ti ~~ - Berry ~ Area ~3 ~~ _ _ -r~., i` s ~~-" z ~ i~ L~ ~ ~._ L. R~usre _ _ __ _~ 'Winter N rw;d ~ ~ ~' Park r~l od,r~7 W ~ -~ --~ n~ a ~i t 1lthar.7 Eit1~ ~. tlWYeVi~--rµ7.. 1 1 ExVry REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATTING JACKSON KERCHER ANGLIN 32 SeminoleWay Industry and Facility Analysis -Draft ~~ t'~ ~- 6 ~t ~, Rlolge Area 1 ° -~y~ ~ , ,~ ~ ~~ i vwMv~ °" ~ ''. .,,o. So r° ~ ntll ' • APoPk + ~~~~ ~ r 1 ' ,- w~.nr ~ ~_' ?`L`n k {art' E ,.r e ~r-' ciY., ~ ~I~ ~ bco~• a~ i ~ -,W w cdoo~ od r ~ \tr;~r P~ `~nb +aiGV ew f P~ e •Sh'or`s ~ T ,~ ~ c ~ pDeltona r r ~;~ ~~ w _ l ~Rr ~ ~u ~ rs, for ~~ ~ ~. a ~ ; ~, , _ 13Y~1raY f ~~ ._... ~' / ~~~ ~ om. t ~~~ - P nT and ;~, _. ~~ ~• Ib ,ny . ~i~ ` ~ lr _ ~ . v 1--~~.) { ._' yI~' f`.' MW~ 5 - f° r Nn. __.. ~_- ___ __-I P R ~~ ~ ' . Eas Number Parcels Total S uare Feet Range SF Size Average S ware Feet Range Year Built Average Year Built Area 1 311 5,870,445 600 - 197,000 19,000 1910 - 2007 1985 Area 2 114 2,032,130 713 - 261,000 18,000 1942 - 2004 1975 Area 3 567 11.442.940 720 - 563,000 20,252 1950 - 2007 1983 TOTAL 992 19,345,515 Source: Seminole County Property Appraiser Tax Roll; RERC Multi-Family For-Sale and For-Rent Concentrations Predictably, Multi-family for-sale and rent development has clustered around identified office and industrial geographic clusters. The following map presents four multi-family cluster areas within Seminole County: REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GIATTING JACKSON KERCHER ANGLIN 33 SeminoleWay Industry and Facility Analysis -Draft ~5~ - -- ~ .: f. Ae~ea ~ _ w ~ ,•~~ ~ ~~"~ 1 ~' i nford p ~ ?~ ~ r r ~ q ,Y& tf Areas'~y ~.: fl lad {{ ,~~.J -_ ! ! _ , \ ~ Easie Y-,, ,. 0•I~way i° ~~ 5.., 7 rfr _ i - M'}kvi ~ r'~~;-° ~ 4 ~_ ~~ AC ~ ~a_, nta ~~'- _ ter" ~ ' ~ ~ rings ~' i~ Apopka ~ `' _ ~~ '.South vt},~ ry oB.~ .p to Apopka t''I ! t;i ~ ~ ~ ~ 1 . a r 1_ ' ~ _ ~ _ r °^'~ { J = ~~ ~a,.a~ t ' read 3 y r a ,,, _ -g. _ -____. --..- - -_ ___- _. T rte. _- gY Sll+r~ $ t L F• ] - - 1 lnte~, }Ocoee a y A ~ ~1 ~ 1~ ~~ I -- ~ ~ , L .N ~ W Blossa• Its ~ ~ ~ k ' FkAI dcd ckm -;Wool T ~ k- E~L.~J ~ r~+7~ w-~ aria I II,..~-'y. . aH C , , A2al@~ 6sst "~ Orlovista ~' E v} E +~sl~rn Gc Cl I '"'~ s Q f - Ft r ry~l ~~ ~ ~ } Ead ~ ? Number Range Average Parcels Year Built Year Built Area 1 1,373 1982 - 2004 1991 Area 2 661 1924 - 2007 1977 Area 3 1,954 1937 - 2007 1976 Area 4 4,947 1957 - 2006 TOTAL 1981 8,935 Source: Seminole County Property Appraiser Tax Roll Land Use Codes 03, 04 {condo) and 08; RERC REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATTING JACKSON KERCHER ANGLIN 34 _'~t~ . ,~,~, , ~I Team Member: ~ RESEARCH - ~, ~i I~~ , .~;, C O N S U W A N T S NORTHE qY r L- LEGEND Seminole Way Study Corridor Limited Access Highways ....r. State Roads CountyRosds Local Roads *+-~+-~ Railroads ® 0 0.5 1.0 2.0 Miles } ;i 1 ~ .. EA ~ ~+-.. - scup" _ _ `~ ~.. 1 ~ ~ ~ _ A :, ~' ~r,.'- _ ITCHEIL HAMM K RO .. A RDn i-.-_ '{ t. r, ~ ~, .,-. _ CHAQMAN.(iD_4y.-. ~ _.. :..~~.~K~ --q - ~ RESEARCH ,`a.. ~1 I C O N S U l T A N T 3 o _ w t_ a~ . x. - _ ~ _ ~ x ,. ~ t ~ £:. .~ SeminoleWay Industry and Facility Analysis -Draft Economic Development Resources In order to craft the SeminoleWay vision and best identify the appropriate targeted industry clusters and ascertain their feasibility and suitability for SeminoleWay, an accurate inventory of the most relevant economic development resources within Seminole County and the greater Orlando region was compiled by RERC. Before a forward thinking approach can be fostered and policy, resource, and infrastructure gaps can be remedied, it is necessary to understand the current economic development resource inventory and its adequacy to support SeminoleWay target industries. These economic development resources take the shape of existing infrastructure, regulatory and incentive policies, financial resources, and educational support. Many of the resources are offered by the economic development councils of Seminole County and her municipalities, as well as Metro Orlando EDC, higher education systems, and industry partnerships. The following sections highlight some of the most relevant features the economic development landscapes of the greater region and Seminole County have to offer. Regional Resources Infrastructure Resources Telecommunications • Orlando MSA is served by four local exchange carriers - AT&T, Embarq, Smart City Telecom, and Time Warner Telecom. • Dense, regional, self healing fiber optic network referred to by industry insiders as a "fiber optic cloud." • AT&T, Time Warner Telecom and Embarq will undertake specialized deployment of technology intense applications and Fiber to the Premise on a case-by-case basiso • Other telecommunications assets include: data cabling systems, automatic call distribution, interactive voice response, pbx and key systems, T1, T3, OC3, OC48, OC 192, switched multigigabit data services, etc. Orlando International Airport • More than 36 million passengers served in 2007. • North America's best large airport for customer service. • 4th largest airport in the nation for domestic origin and destination. • 2nd best airport in the world for customer service. REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATTING JACKSON KERCHER ANGLIN 35 SeminoleWay Industry and Facility Analysis -Draft • 11th fastest-growing major airport in the world. • 12th busiest airport in the nation; 21st in the world. • More than 980 arrivals and departures daily. • Scheduled non-stop service available to 86 domestic destinations and 16 international destinations (including direct flights to Monterey, Mexico and Frankfurt, Germany). • 17th largest port of entry for international visitors in the continental United States. • 205,733 tons of cargo in 2007 • 205-acre park, Foreign Trade Zone No. 42, offers duty exemptions or deferments for companies receiving materials from foreign countries. • More than 15,000 acres, the third largest parcel of airport property in the country. Only 35 percent of airport property is developed, leaving large areas available for expansion. Orlando Sanford International Airport • Third most active international airport in Florida; 13th most active international airport in the nation. • Four paved runways ranging from 3,750 to 9,600 feet long. • Rated for wide-body air carriers, with a Federal Aviation Authority air-traffic control tower, approved instrument approach, aircraft service facilities and U.S. customs office. • Foreign Trade Zone No. 250. • 395-acre Sanford Airport Commerce Park with rail service available in its western sector. • 50,000-square-foot cargo building, in the Sanford Airport Commerce Park, enables cargo handling, pallet preparation and receiving. • $25 million expansion that added atwo-story terminal complex of more than 120,000 square feet. Increasing total number of gates to 12. • 13,500-square-foot incubator-the Airport Enterprise Center. REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATTING JACKSON KERCHER ANGLIN 36 SeminoleWay Industry and Facility Analysis -Draft Specific Seminole County Resources Regulatorv Resources HIP-TI Future Land Use Zone • High Intensity Planned Development -Targeted Industries Future Land Use category • Designated area governed under a set of land use policies intended to attract target industries including high-paying Class A office and industrial uses. • Located along the Interstate 4 corridor from the Lake Mary Boulevard interchange to the St. Johns River. • Approximately 600 vacant uncommitted acres remaining within HIP-TI zone. Fast Track Permitting • Seminole County and select municipalities within offer fast track permitting and approvals for development consistent with specific targeted industries. Financial Resources Jobs Growth Initiative Fund • Funds for expenses including impact and permit fees, relocations costs, capital equipment, land acquisition, building construction, loan interest pay-down and other assorted legitimate pro-business activities. Qualified Target Industry Tax Refund Program Local Match • Local tax match fund for qualified businesses in targeted industries. Florida High Tech Corridor Council (FHTCC) Matching Grants • Grants offered designed to foster applied research between Corridor Universities and their high tech industry partners • Since 1996, more than $43 million to fund more than 615 projects has been provided in partnership with more than 250 companies • $43 million in FHTCC grants matched by more than $90 million in corporate expenses and federal grant resources • FHTCC targets research and growth in the following industries: Agritechnology; Aviation and Aerospace; Digital Media/Interactive Entertainment; Financial Services; Information Technology; Life Sciences and Medical Technologies; Microelectrics/Nanotechnology; Modeling, Simulation and Training; Optics and Photonics; and Sustainable Energy. REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATTING JACKSON KERCHER ANGLIN 37 SeminoleWay Industry and Facility Analysis -Draft Education Resources University of Central Florida Technology Business Incubator Program • The UCF Business Incubator program consists of six facilities throughout the Orlando MSA including a 10,000 square foot facility in Winter Springs intended to serve high tech growth start-ups in Seminole County. • The UCF Incubator -Seminole County/Winter Springs is a partnership between UCF, Seminole County Government, the City of Winter Springs, and the Florida High Tech Corridor Council. • 87-91 % of companies that graduate from a UCF incubation program are still in business 5 years later. • According to the National Business Incubation Association, every 50 jobs created by an incubator client generate 25 more jobs within the local community. University of Central Florida Technology Resources • Institute for Simulation and Training (IST) -IST is an intemationally recognized research institute that focuses on advanced modeling and simulation technology and increasing the understanding of simulation's role in training and education. The Center for Research and Education in Optics and Lasers (CREOL) - CREOL is an intemationally recognized center for research in a wide range of optics and photonics technologies. Seminole County Community Colleges • Seminole CC • Belhaven College • Webster University Seminole County Public Schools K-12 Seminole County Public Schools are rated among the best in the State of Florida and among the top 100 school districts nationwide. The 2007 - 2008 student population in Seminole County Public Schools was 65,794. The racial makeup of the student population is as follows: White 58.5%; Black 13.65; Hispanic 17.9%; Other 9.7%. Seminole County Public Schools boasts a higher rate of graduation of 86.7% compared to the States 71 %. The State of Florida Department of Education has rated Seminole County Public Schools (SCPS) as an "A" district for the last five years. Though school enrollment has experienced a slight decline in the past few years, student enrollment has grown from 40,471 students in 1985 -1986 to 65,794 in 2007 - 2008. This is an increase of 25,329 students, a 63% growth rate or 2.3% annually in a little over 20 years. The recent decline in school enrollment is REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATTING JACKSON KERCHER ANGLIN 38 SeminoleWay Industry and Facility Analysis -Draft attributed to several factors: apartment conversions to condominiums, housing costs, property taxes, property insurance, long term demographic trends and other economic factors. • Seminole Public Schools is the largest employer in Seminole County with nearly 9,600 employees and 4,500 teachers. REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATTING JACKSON KERCHER ANGLIN 39 • Industry and Facility Analysis Futures Analysis ~~~ _~~ .~~ ~~~I r~~~ y r ~ ~~' -s ~=~- r .~ ~ R` 5r `~'> _ i ,~ A ~' t ~~ ~ ~ ~ 1 .~ •. N_ _ - ! -W _:. 1 ~ U ~~.1-. ._ ~_. fn 7 ~..i} ,..I .,! ~~-~~~'x` E0 '> ~~r~~~=Ci ~ y, ~ ~I .. h. _ Jd_-.. ~~. ~.., r'^~..1, . t ~. Team Member: k ~ C I1Hi.i~ ~. B.A ~ t ~ J f -. .. ~ _: 1 i, I ..,,.. } _ ~+ ' 1 i ,~Cify of Sanford X11. ... ~} «... Kt .. `Y l:t LEGEPID Seminole Way Study Corridor Limited Access Highways «+...+..~.. State Roads >---~--~- County Roads Local Roads +-+-r~* Railroads 0 0.5 1.0 2.0 Miles versus $erviCe9 fOfltlCfS OA 4eNICl ~aam JI'- ~ t' f ~~~ 3 ~ ~ _ ~t ~" ~~9t ~ ~ IR J i f d ~ r ~ t -~. t NfDRTH~RiS WAV.,.~'~ -i - i i 1 ^^' r~s~. ~ „"'.°""~^.S ~ +d'~. ATCNE~LL N~~KAM KND . t ~ _t Y.. ~- - r ~ _ 9. ' .. F .~~.._, ~-~ . _ ~ _ RESEARCH ~(~+ ~ ~-s~. ~ ~~( ~- ~'t C O N S V L T A N T S ¢ ~„ I °s a ~ + ~~ ¢' ~~ ~r> al ~. ~R.. ,. Q l~ 4 i nax. ' +o~Gq .~N~_ ~. ~:'F£ R MSA{Regional) Speclallzation SeminoleWay Industry and Facility Analysis -Draft Futures Analysis The forward thinking SeminoleWay Vision can only be crafted with a precise understanding of the existing economic industry conditions in Seminole County and the region. A Futures Analysis will arm policy makers with a detailed picture of the current economic landscape as well as begin to identify the appropriate paths leaders must embark on to achieve the desired realistic economic and industry outcomes that are feasible for the SeminoleWay corridor. A futures analysis aims to quantify the economic potential for the SeminoleWay corridor by accomplishing the following tasks: 1. Examining future industry formations to identify, rank, and measure potential opportunities based on emerging sectors and clusters. 2. Identifying existing or future industries in the region and corridor which have the greatest local competitive advantage. 3. Benchmarking clusters to measure how competitive a region is relative to other similar regions or to the nation as a whole. 4. Indicating relative levels of supportable activity within the general study area. Within that context, RERC retained Innovation Insight, Inc. of Wesley Chapel, Florida to conduct a Futures Analysis for the SeminoleWay Corridor, Seminole County, and the greater Orlando Metro Area. Towards that effort, Innovation Insight completed a detailed economic cluster analysis, conducted a multitude of interviews with industry leaders and stakeholders within identified and targeted clusters, and detailed the relevant infrastructure needs of targeted SeminoleWay economic clusters. That work effort follows: Economic Cluster Analysis • Economic cluster analysis was popularized by Dr. Michael Porter of Harvard in the 80s. It became very popular for its focus on competitiveness factors that included innovation, economies of scale, knowledge production, networks, and relationships in addition to traditional factor (cost) considerations of traditional economic geography. While cluster analysis has become the most popular paradigm utilized by professional economic developers, the process of intentional creation and incubation of regional economic clusters is still poorly understood and documented. The effective geographic scale for cluster analysis is between national and MSA levels. County and zip code-level geographic boundaries rarely can contain a sufficiently comprehensive mix of supporting factors and industries to constitute a true cluster. For that reason, county- and sub-county-level analysis is best performed in context of the industrial makeup of the larger metropolitan area. There are effectively three ways that economic clusters can be intentionally fostered: REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATTING JACKSON KERCHER ANGLIN 4~ SeminoleWay Industry and Facility Analysis -Draft Organic: Identification of an existing competitive cluster to be fostered and encouraged to grow via incentives, zoning, investment, and other economic development activity. The rise of Boston's medical industries, Silicon Valley, and Metro Orlando's aerospace industry cluster could be considered examples of organic cluster development. All organic clusters have a historical impetus. • De Novo: Creating a new industry cluster "from scratch", with little to no existing economic basis. The Florida Scripps facility, the original Disneyworld development, and to a lesser extent the Burnham Institute in Lake Nona, can be considered "De Novo" cluster development activity. Secondary: Identification of niches, specialized related industries, and specialized support industries and resources selected to capitalize upon (yet developed separately from) an existing regional industry cluster or clusters. This is based upon the recognition that a subregion may not have sufficient basis for de novo or organic cluster growth on its own. However, a subregion may be able to capitalize upon its geographic or supporting industry characteristics to justify a distinct effort. Research Framework The objective of this research is to empirically identify the best probably focus for economic cluster development activity regarding the "Seminole Way" region. The best research framework will be one that comprehensively looks at both quantitative (economic) data and qualitative (expert) feedback to rank and select cluster candidates. Given that the Seminole Way region is too small for cluster analysis independent of the larger county and MSA, we believe that the best cluster candidates for the Seminole Way region should be selected from the intersection of: • Competitive existing or emerging industry clusters at the MSA level, in which Seminole County has a competitive foundation. A competitive level of supporting industries that are at the intersection of multiple MSA-level industry clusters. An existing minimal basis of industries within the 4-zipcode area of the Seminole Way relevant to MSA-level industry clusters. Competitive MSA Clusters In 2006, Innovation Insight, of Wesley Chapel, Florida, conducted a comprehensive, empirical analysis of the Metro Orlando region's most competitive economic clusters for the Metro Orlando EDC. The study looked at occupational activity, federal REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATTING JACKSON KERCHER ANGLIN 41 SeminoleWay Industry and Facility Analysis -Draft procurement and grant award activity, patent and intellectual property activity, and industry salary, productivity, and specialization data. The study looked at recent historical trends and forecasted five years into the future. The Seminole Way cluster analysis takes advantage of this very comprehensive body of regional data, and through comparison with more recent data confirms that the 2006 study's findings are still relevant. The most competitive clusters overall were identified as the following: • Information services • Precision instruments (closely tied to "photonics and lasers") • Basic health services • Business /professional services • Computer and electronic equipment (the fastest growing cluster overall) • Higher education & hospitals • Aerospace • Hotel and transportation services The following clusters were considered "emerging" -while not specialized in terms of significant employment, they were found growing and attractive due to other features such as salaries, productivity, and procurement activity. • Arts and media (tied to "film and entertainment" as well as "digital media") • Construction machinery and distribution equipment • Nondurable industry machinery • Financial services and insurance (one of the highest paying clusters) • Nonresidential building products REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATTING JACKSON KERCHER ANGLIN 42 SeminoleWay Industry and Facility Analysis -Draft Metro Orlando Industry Clusters Employment Relative to the United States Z00420a9 Forecasted Growth 17n~.`. -_..__._ -...._r.. __. _. _._-. ._..__.--" -------- 115` 38ttt1 sues 11 a% . _ Inform Hher education d 10596 Nonresidential 5uildrng p b trantporkation secs - +- ~ AAa"and mad 1aa96 trur~ipnru _. , ~,~~ ~ Financial sues Srnstfrance ;€5 ~ Nontfurabte Industry machnery Ii I i y 9a96 ~ ---t~Precisioninstruments_._ _.. ~Compc~ter 8 electronic egpt i 859'0 ,~,..- t _ i • A9rOSPSCA ~, I ~ i f j ~ i , ea9~ --}- - ~-- ~--- ------_. o~ za9~ aa96 ~c9~ ea96 1ac96 12a96 1acn6 1so~ 1ea~ zaa96 zza96 2064 Location Quotient (Specialization) Size of trutrtrles indicate relative nWmber of IcGS. REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GIATTING JACKSON KERCHER ANGLIN 43 SeminoleWay Industry and Facility Analysis -Draft 29 Informatron services 35 Pltarmaceuhcela 31 BuSinesS seNicea 5 Basic healm seMces 12 Precision inabumenla 23 Motdr vetudes A2 Hotels 6 nansportauon semces 28 Higher educatwn 8 hospitals 37 Nonraeidentlal DwWing produces 15 Oalry produces 27 Ana and media 18 Nondurable induury rnaenmery 9 Financier aeMces S maurence 19 Canatructldn machinery 3 disNbutron equipment 43 Aerospace 36 Skel milling 22 Concrete. bnck DwlO~rp produces 25 Pkstirz produces 2 Packaged food praduck 30 Petroleum 8 gas 10 Chemical-bated produces 1 A Metatwakrng 8 fabncakd metal produces 4 Alunnnum 6 aluminum products 11 Mechme t9tlli 2A Wood building produM. a 33 Ruhbar produrss 3A Glass produces t3 Printlng Qpublisning 20 Wood pacesainp 39 Optical EgWpmanl b tns[rumen[s 18 Nrood products 8 fumnure 21 Paper 1 Tezbles 8 apparel 1.8 1.1 ~.~ l.s ~~_+ 7i 1 y O.f 0 c O.E ~.4 0.2 () Metro Orlando MSA versus Seminole County: Cluster SpeciaNzation and Employment Computer S electronic equipment I recision Irtstruments -.. _ ~ligh Tech Information Sr ( I ~ ~ I ~ i ~ Technical $ Re9earch Serve I I 1 _._ -_._.. _--. ._ -__ _.. __-_-_-- {-- inng tlevicea 8 Swdcn I / ' 'tecrJral 8 E / ~ i nanCiaf SeNICe S B In911 ra"1C@ j nn341der111aI .. I HOfels S to NonlluraM9induatry machine ry ' I Aerospace Basic hee4tte seNices ~ Informahonservices ~ Higher educate -~ ~ l --..--~--.8usine99 9aNiCe4------- -----~ t i Arta and media i I r^onetNd~on R1adtNnerY S di 5trihutidn uipment i { Nid65 ea a lineenng Services uiy~ng prod~ets nsporlation services n 8 ho9pitale V.Z U.4 U,15 U.S 1 1."L 1.4 1,6 MSA (Regionals Specialization REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATTING JACKSON KERCHER ANGLIN 44 SeminoleWay Industry and Facility Analysis -Draft The previous "bubble" chart compares regional cluster specialization (horizontal axis) against Seminole County specialization (vertical axis). The size of the bubbles represents relative estimated employment in Seminole County. Essentially, the farther to the top right (green quadrant) a cluster is, the more competitive it is both in the County and the region. Fl~tels ~ 7'~1{~IMIO4 i~1+~iDd~ ~~ ~ ~~~ F~Itier edu~l~+tr ~ Ill~pr~ 1Mdnp t~e~liee^ 8 ~whd~e~ ~i+ei~ ae~~rla~ ibC71aY'~1 i EI~Ad0'L~ Ser-rl~~ Mbor~rr: ~l ~np~ piold^c~ ~ T~1e11 I~i~rr+e~on S~ervioss I~:~tr~p~ sOr~+b~ ~ri~ill~elaltr ~nrt~ T~ehr~fo~l ~ ~aei~ ~ertri~ ~F4'ar~ i~fYlpi d ~.1.'er~q l~ordurardio ilnldus~ IflrCh~ldf'r ~f~plAdf IE ~IQEyir~11C ~~~ G~I:D?11~f:11'il~ i f~bll'.~O1~ ~R:11~11 ~r~:asa~ Ins7unMa.~ar I~ISI~ L~ 8efrrrofo :4~ E~rpia~n~el~e 1.37 ~.~8 1~~T 1.~Q I~.~t ~~ 12.'9 ~.3~ ~~~6t 1.24 1~.9T 1.1G'~ 1.20 x.85 13,i1~ 1.'18 Q.96 3.~ 1-~~' x.61 115 1.14 t.42 8„3~i 1.06 ~.7T 8J~ 103 ~.e~ 1,54.5 1.~1 ~.~ 3~15i~, Q III 1.19 10JOGI! 0.6i d~d1 ~9 a•~ 1.78 e~i Ix~ ~.~~ ~ a~ ~.e~s a~ aa.. a.e~. ~~ The MSA-level cluster data was compared with the most recent available industry data at the county and local level. The best foundation for economic development activity in the Seminole Way area must reflect an intersection of regional, county, and local cluster industry advantages. The following chart compares the overlap of: • The most competitive regional-level clusters (bottom left circle) • The clusters in which Seminole County has a disproportionate share of the region's employment (top circle) • Clusters in which Seminole County has a significant basis of industries that are supporting industries to the region's top clusters (bottom right circle). REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATTING JACKSON KERCHER ANGLIN 45 SeminoleWay Industry and Facility Analysis -Draft Seminole MSAAwentage 11190rma1bn Semcae Cable Menuleclvi~ ~ttlei0ei a flfeinClel Aasae~ Sarvicee 6 ServpkE Inaut~nce aaalc Neagh Servfoeq 1MYttq Etlucatlend' Dertsa8 tl S Sa~tlvee ~mi~ $mrvtf~n Norwsd A~eMlecurailk TrattapoiEalia~ Figineering Services Servioea ArsB. Rkda nbr+reelde~llel ©aitlrtg Prodani Campeolive MSA Cluster \ / Sernnole Support Clusdar Ca~pe::og E:9nOmIC (:NSler ^ 'Erner~ing^ .=AOro'nl: C45'Rr The strongest intersection of MSA clusters with strong Seminole County economic activity as primary industries or support industries include: • Financial Services and Insurance • Technical Research and Consulting To a lesser extent, the following clusters also show strong intersection: • High-Tech Information Services • Business Services • Hotels & Transportation Services • Architectural & Engineering Services • Higher Education & Hospitals • Wiring Devices & Switches REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATTING JACKSON KERCHER ANGLIN 46 SeminoleWay Industry and Facility Analysis -Draft Cross-Cutting Recommendations and Observations: Clusters The objective of the empirical cluster research was to identify a few industry clusters with an existing foundation, and synergy with regional growth and strengths. The interviews and background research extended these goals to identify the feasibility of promoting core clusters as a long-term economic development strategy that complements, but does not compete with, other regional efforts in these clusters. Four "core" clusters were identified that met these criteria: • Financial services and information services • Digital media including modeling and simulation, film and broadcasting, themed entertainment and animation/game development • Life sciences including biotech and medical instrumentation • Technical and research services including civil and environmental engineering and to a large extent architectural and engineering services Based upon the research, we further refine the recommended strategies for the core clusters as follows: Green biotech: the intersection of plant-based biotech and biofuels research and production. For the life sciences cluster, focus on the availability of a wet lab facility for small businesses, providing cluster-specific ongoing training and seminar resources, identify and foster intermediary manufacturing solutions for enzymes, pharmaceuticals, and other biologicals to encourage local growth and retention, build shell facilities to support build-in biotech/life sciences companies, and develop a zoning and construction plan for additional greenhouses and dedicated agricultural property to support plant- based research and development, research trials, and contract and intermediary manufacturing of biologicals. Develop a cellulosic enzyme production strategy to support Florida's growing ethanol biofuels industry in partnership with UCF researchers and major blended fuels consumers such as FPL Energy. Green Buildings: a starting point for the region's technical, civil, environmental and related engineering services industry, which constitutes much of the technical and research services cluster. This is a desirable cluster in terms of wages and growth, but its growth is largely driven by local development activity. Given Governor Christ's endorsement of Green Building concepts and the relative lack of LEED-certified engineers in Florida, a consortia-based approach to reducing the costs for local firms to certify their engineers can help to reduce import of LEED-certified engineering services and increase the ability of local firms to compete for projects both inside and outside of Florida. The financial services /information services cluster will benefit from continued support of the Heathrow /Lake Mary region. However, for purposes of the Seminole Way corridor, an increased focus on smaller REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATTING .JACKSON KERCHER ANGLIN 47 SeminoleWay Industry and Facility Analysis -Draft companies (10-40 employees), an extension of efforts Eastward along Lake Mary Boulevard, and along-term plan to map, improve, and promote quality broadband /wireless telecom, power, and transportation infrastructure in that area will help to increase the attractiveness and competitiveness of that area for financial and information services companies. The digital media media cluster has tremendous potential for the region. A strong incubation and small business support strategy will most complement Orlando's developing Creative Village concept and the Florida Interactive Entertainment Academy (FIFA), particularly as there is evidence that much of the industry is characterized by freelancers and home-based service providers. The strategy for this cluster should support the recent Digital Media Banner Center awarded to Seminole Community College, and extending its services and benefits to other SCC campuses. This cluster will also benefit from services and resources to help freelancers and small businesses convert and stay abreast of the latest digital /high definition tools and standards. This cluster may also benefit the most from the availability of an incubator or other shared facilities supporting very high internet broadband capabilities and perhaps shared computational/rendering farms and audio/visual studios. • The Orlando-Seminole International Airport is potentially a tremendous asset to the Seminole Way region. However, its potential will remain largely unfulfilled from an economic development standpoint unless its portfolio of national and intemational direct flights can be significantly increased. Its value for the core clusters includes: • Access to clients and markets and other business units by the financial services sector. However, most travel in this cluster is probably focused through the Orlando International Airport. • Flexible building shells for the life sciences /biotech cluster. • Hobby /executive pilot resource for all clusters. Business /office park property near the airport will be attractive to corporate CEOs, founders and entrepreneurs with active piloting interests. • Available undeveloped property Each of the "core" industry clusters discussed (life sciences, digital media, financial services /information services, and technical /research services) identified broadband internet connectivity as a competitiveness factor. For life sciences and technical /research services, this is probably mostly a matter of preference that will be addressed by market forces (they will pay for what the level of connectivity they need). However, for financial /information services and especially digital media, broadband connectivity can be a "make or break" competitiveness issue in the next ten years. • Financial services products and transaction processing are increasingly reliant upon internet connectivity, and trends within this industry are toward globalization of business processes (geographic distribution of business units) that require spotless and continual broadband connectivity. Perhaps most important (anecdotally) is the perception of overall consistency and REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATTING JACKSON KERCHER ANGLIN 4$ SeminoleWay Industry and Facility Analysis -Draft quality of all telecommunications services available to this industry versus ubiquitous broadband availability. Digital media companies will have the greatest, and fastest growing needs for connectivity in order to communicate with clients, deliver large, dense media content, to stream audio and video, and even for remote processing and computing tasks. Increasing the broadband connectivity for a building can vary tremendously by location and service provider, resulting in 3-10x increase in costs for both infrastructure (cable and fiber) as well as monthly service. In consideration of these costs and the fact that much of this cluster consists of small companies and freelancers, the best strategy may be to: Create a county "broadband map", including which buildings already are wired to 1000baseT ethernet, the location of fiber trunks (connecting a building to a trunk across the street or further can cost an additional $60,000 or more), and which buildings already have OC-3 or greater connections. Build up a few "islands" of broadband, including a business incubator and possibly a few other multi-tenant office buildings as supported by demand with OC-3 or greater connections. These buildings may require inexpensive cellular repeaters to further support ubiquitous connectivity. It should be noted that 802.11# wireless "hotspot" availability was not identified as a significant issue for any of the interviewed clusters. Four Seminole Way Clusters Cluster: Digital Media From the cluster analysis, the "Arts and Media" industry cluster best represents digital media activities. Digital media is closely tied to UCF's Institute for Modeling and Simulation, as well as UCF's School of Film and Digital Media. In the region, major attractors include the EA Tiburon headquarters (NE downtown area), the Creative Village complex (downtown), the Florida Interactive Entertainment Academy (FIFA) and UCF. • Professionals in the digital media sector are best understood as "creatives", with special lifestyle and working environment expectations that differs from other professions especially from an economic development perspective. The digital media sector is undergoing rapid transformation and growth, as many traditional industries (advertising, public relations, publishing, broadcast and film industries) struggle to embrace new regulations for high-definition television and consumer demand for electronic and mobile communication. This is particularly true of the region's film and broadcast industry, which can benefit from support as it shifts from analog /traditional film, audio and photography platforms toward digital /high-definition /effects and animation services in order to remain competitive. REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATTING JACKSON KERCHER ANGLIN 49 SeminoleWay Industry and Facility Analysis -Draft By February 17, 2009, the FCC will require all television broadcasters to transition from analog to digital television. Although there is no regulated cutoff date, US theaters are also quickly installing digital cinema systems to replace traditional analog projectors. As these transitions take place, all film, broadcast, commercial and studio services providers (in the metro Orlando region or anywhere else in the US) that remain in business will effectively be entirely "digital media" producers. In general, professionals in this sector can benefit from increased local access to non-degree, even non-certificate training to stay abreast of latest design and communications innovations and tools. • The Metro Orlando region has the capacity to distinguish itself in this sector, and is anecdotally comparable to growing digital media metropoles such as Vancouver, Raleigh-Durham, Salt Lake City, Singapore, Montreal, and Austin, Texas. In practice, the digital media cluster in the metro Orlando region is characterized by the following categories: • Large themed entertainment providers (Universal, MGM, Disney). The digital entertainment needs of this sector are most closely tied to the interactive environment technologies of the modeling and simulation sector. Traditional 2D film /television /commercial production studios (Universal, MGM, Disney) and the previsualization, pre- and post-production companies that support that industry. This sector is undergoing tremendous transformation in face of demand for digital film content. The largest number of companies in this sector appear to be small service providers and freelancers. • 3D design, digital effects, flash / actionscript, and animation studios. • Marketing, advertising, and public relations agencies that have added capacity to deal with intemet and design needs of their clients. • Digital communications companies, such as IT TV, streaming media, podcasting, videocasting, teleconference solutions and content providers. Little attention has been given to this category, and is probably characterized by freelancers and very small operations. • Digital gaming and game design companies such as Electronic Arts / Tiburon. The digital gaming industry is beginning to rival the film industry for the "box office" revenue generated by individual titles. • Graphic design, digital and print publications, web design and digital art companies. • GIS (Geographic Information Systems), geocentric media, and mobile media REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATTING JACKSON KERCHER ANGLIN 50 SeminoleWay Industry and Facility Analysis -Draft • Digital design and arts schools such as Full Sail Other niches such as e-learning /education, audio and sound design, medical /technical /architectural visualization, forensic legal animation, digital media portal and content providers, and others. Infrastructure • The majority of regional digital media companies are small service operations (1-3 employees) and freelancers. • General facility/ infrastructure needs are described by flexible /inexpensive buildings and office space with very strong broadband internet connectivity. Many freelancers operate out of home businesses, often with a network of collaborators /subcontractors to deliver larger client projects. Some categories of digital media, particularly those focusing on communications, will be attracted to and benefit from above-average bandwidth and internet infrastructure access points as they reduce packet lag and delay. In practice, this probably translates to 1000baseT ethernet connectivity within buildings and an OC3 fiber or greater external (street-to- building) connectivity. The cost and other infrastructure considerations of such increased connectivity are discussed in the "Crosscutting observations" chapter earlier in this document. The most unique requirement of this sector is one of environment and lifestyle. Digital media companies will be attracted to "artist communities" and liberal, avant-garde neighborhoods with trendy restaurants, retail and "raw food" stores as might be found "in L.A." (or Austin, or New York, or San Francisco...). The downtown "Creative Village" concept, if properly fostered, might address this environmental aspect; in the short term the Seminole Way region should not try to duplicate or compete with the Creative Village to establish a centralized "creative neighborhood" environment. Digital Media Recommendations Seminole Community College has recently received funding for an Employ Florida Banner Center focusing on digital media. It will be important to help market and promote this center. Although the Banner Center was established at the SCC Heathrow Center, it may be important to explore how the center's resources can be marketed and extended to the SCC Oviedo and Lake Mary campuses as well. The UCF incubator system can be enhanced and specialized to support small startup digital media companies, including startups and those growing from home-business operations. This will require greater internet connectivity and perhaps access to more (time and cost) critical technology resources such as audio/visual studios and shared /leased rendering farms. Similar digital media business incubators include the Parco Scientifico Tecnologico Di Venezia (Italy), the Digital Media Center at the Rancho Santiago REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATTING JACKSON KERCHER ANGLIN 51 SeminoleWay Industry and Facility Analysis -Draft Community College District (Santa Ana California), and the Los Angeles Digital Media Campus. The UCF Institute for Simulation and Training will soon announce a new initiative and new resources for research and applications on parallel processing architectures, which may become a resource which could be extended for small digital media companies. Alternately, some digital media companies are beginning to rely upon rendering "utilities" - outsourced rendering farms which charge by the "gigahertz hour" to perform processing- and resource-intensive operations on uploaded data. By making reduced- cost processing resources available, digital media companies focused on animation, modeling and simulation may be made more competitive. Eventually, there may be potential to further foster regional innovation in this sector through partnership and access to extreme high bandwidth Internet backbones such as the National LambdaRail or Intemet2 consortia, if access can be extended to small companies for research and development of new products and platforms. This would intersect with UCF's strengths in the School of Electrical Engineering and Computer Science and the Center for Research and Education in Optics and Lasers (CREOL). However, the LambdaRail / Internet2 networks currently only extend to Jacksonville, so this will not be a consideration until it can be extended to Orlando (which is not part of current deployment plans). It will be important to focus on helping to train, strengthen, and build partnerships among the region's home-based digital media companies and freelancers. Freelancers constitute a significant percentage of establishments in this cluster, have the fewest resources available for growth and training, and are at the greatest risk of becoming uncompetitive due to shifting technology platforms and demands. As each freelancer is also an independent entrepreneur, they also constitute a significant pool of potentially new and growing companies if properly fostered. Such resources could include: • Training/ seminars to help professionals remain abreast of latest digital media technologies in design, animation, digital film production, digital audio and video solutions, and digital communications • "Design for non designers" training to help expose technologists to fundamental concepts of art and design • Resources to help link, manage, and promote small companies and freelancers to collaborate and compete on larger projects • Project management, costing, and visualization resources • Directories of local digital media service and product providers • Opportunity identification and creation -promoting local strengths and helping to connect local digital media projects to local providers Digital Media Case Study: Flinch Studios Company Size: 1-2 employees plus freelancer /contractor network Facility /Infrastructure: Home-based business Description: Animation and creative media REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATTING JACKSON KERCHER ANGLIN 52 SeminoleWay Industry and Facility Analysis -Draft Summary: Founder originally owned a 20+ employee 3500 square foot studio in Los Angeles, but relocated over ten years ago to Florida for family /affordability considerations. Expresses interest in the Creative Village efforts and would be strongly attracted to an environment that captures some of the lifestyle environment and creative energy found in LA. Majority of business and exposure is national /outside of Florida, as are most subcontractors /partners. Cluster: Life Sciences From the cluster analysis, "Life Sciences" can include "Hospitals and Higher Education", "General Health Services", "Pharmaceuticals", and even "Medical Instrumentation Manufacturing". The core life sciences companies in the region are very heterogeneous; there is a wide mix of instrumentation and device manufacturers, medical biotech (stem cells, organics and protein manufacturers), pharmaceuticals manufacturers, green biotech companies (agricultural and biofuel), and other companies. This is not necessarily a shortcoming, but might complicate marketing efforts and is evidence of a relatively early and immature regional life sciences ecosystem. Interviews reveal an anecdotal belief that there are over 2,000 biotech companies in the Metro Orlando region. However, any estimate of biotech / life sciences companies based upon industry codes should be suspect; these industries are poorly categorized by the NAICS system and there are probably less than five dozen true pharma, biotech, and life sciences innovation companies currently operating in the metro Orlando region. Life sciences -particularly pharma and biotech -are probably the most sought-after industry sectors in the U.S., and probably the most intensive in terms of requirements for investment and intellectual capital. A strategy that focuses on this sector should not be adopted without a serious commitment of investment and resources. • Major regional attractors will include the Burnham Institute (to the South, as part of the Innovation Way), the UCF Biomolecular Science Center, 44 regional hospitals, the M.D. Anderson Cancer Center Orlando, and as it grows, the UCF Medical School. Life Sciences Cluster: Infrastructure Requirements Based on interviews, we break down the life sciences industry into four categories: startups, growing concerns, intermediate to mature companies, and research institutions. • Startups are currently well served by the UCF incubator system, but the relative lack of "wet lab" facilities results in a need for most startup life sciences companies to locate as close to UCF as possible to take advantage of university laboratory facilities. Startups are very sensitive to finance and REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATTING JACKSON KERCHER ANGLIN 53 SeminoleWay Industry and Facility Analysis -Draft investment issues, but also to the experience and entrepreneurial resources of their founders. Growing concerns -maturing companies, and those that theoretically may "graduate" from the incubators -currently face a dangerous lack of buildings with wet labs, and similarly a lack of local biologicals, proteins, enzymes, and pharmaceuticals manufacturing options. Without local solutions to support research trials and limited run production, local biotech companies may be forced to build partnerships with production companies outside of the state, as was the example with Chlorogen Inc. Unfortunately, in such cases, research and product development is hampered and the likelihood that the company will relocate out of the state is very high. Investment issues, as well as regulatory, quality control, marketing, and management are also key limitations. Intermediate to Mature companies are those with a foundation of financing, independent facilities, and existing product lines currently under or nearing production or license. While more likely to survive, mature companies remain sensitive to investment, research, and regulatory limitations. Landing a portfolio of mature life sciences and biotech companies within the region would be one primary goal of pursuing the life sciences cluster. Research facilities, such as the Burnham Institute and M.D. Anderson, will be the most significant attractors to the region outside of the university and medical school. Their infrastructure needs will revolve around custom facilities with extensive wet labs, instrumentation, and support for relatively larger numbers of research faculty. In contrast, production and manufacturing will be less important considerations. Life sciences companies of all sizes (although to a lesser extent for startups) benefit from strong air transportation resources and specialized training and professional services. Few industries are subjected to higher levels of federal scrutiny; the FDA clinical trial regulatory system significantly multiplies the cost and risk of bringing new life sciences products to market. Further, HIPAA and manufacturing quality requirements also increase security and manufacturing costs for this industry. "Wet labs" differentiate from other laboratory and research facilities in their ability to handle chemical and biological materials. In practice, this signifies • Special water and waste handling systems • Special air treatment, purification, and circulation systems • Special building security, control, and perhaps storage systems • Individual companies will have additional "wet lab" needs that will be differentiated by their specialty (e.g., a stem cell company's need to handle cell cultures may be different than a pharmaceutical manufacturer that specializes in organic chemicals). Aside from wet labs, life sciences companies will benefit from strong broadband and wireless connectivity and a range of standard business /office space leasing options (in terms of cost and amenities). REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATTING JACKSON KERCHER ANGLIN 54 SeminoleWay Industry and Facility Analysis -Draft In general, timing is a significant concern for new /relocating life sciences companies. It is often less expensive and less time consuming to "build into" a shell building than to renovate an existing building to support the wet lab and other needs of a life sciences company. Life Sciences Cluster Recommendations The Seminole Way region can develop a viable life sciences strategy that complements the Lake Nona /Medical City /Innovation Way Corridor. However, it will have to embrace a focused strategy and commit to specialized resources and investment to pursue this cluster. There is a perceived window of opportunity resulting from the combination of the new medical school, the Medical City complex, the Burnham Institute, Scripps, and entrepreneurial /research activity out of UCF that can be capitalized upon if swift and committed steps are taken. 1. Establish a life sciences zone adjacent to the Orlando Seminole International Airport. 2. Establish a Life Sciences director /liaison to interface with airport authorities, economic development organizations, and life sciences companies. 3. Identify local manufacturing solutions. The first step will be to build a comprehensive list of local manufacturers with excess capacity and the ability to support life-sciences related products. Vitamin, hygiene, beauty, healthcare, and similar products manufacturers may be likely candidates, as are packaging manufacturers and other existing life sciences companies. 4. Identify local manufacturing solutions (continued). Eventually, more specialized contract manufacturing solutions for the production of custom enzymes, proteins, and other organics will be important. One strategy could be to attract /support a contract bioreactor operation. An alternate strategy would be one that focuses on green biotech -utilizing transgenic plants (such as tobacco) to produce the target biological. This strategy has the advantage of synergy with recent Florida biofuels initiatives, the expertise of several faculty at UCF, and Florida's climate/environment. The establishment of a new GMP (good manufacturing practice) contract enzyme or production facility can cost $5-10 million or more, so additional conversations will need to be conducted with Florida companies to identify a viable near-term solution. 5. Build an incubator in the airport zone with ashared-use /leased-use wet lab facility. The Medical City /Innovation Way complex currently has no wet lab facilities available to external companies or researchers. A comparable facility might be the New Orleans "BioSpace1" business incubator, which has 60,00 square feet of incubator space and over a half million dollars worth of shared wet laboratory facility for tenants. Other relevant incubators include the TechColumbus incubator, the University of Manchester incubator, the University of Michigan SPARK incubator, Biotechnology Development Center of Greater Kansas City, and others. 6. Build several multi-use "shells" in the airport zone with complete utility hookups. The shells can be used for air hangars and storage, and as demand increases they can be leased to companies to "build in" custom office, lab, production and shipping space. 7. Build one or more greenhouses in the airport zone. It is recommended that this be managed with the participation of Twyford International, a Northwest Orange County greenhouse research facility which is nearing 80-90% capacity. REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATTING JACKSON KERCHER ANGLIN 55 SeminoleWay Industry and Facility Analysis -Draft 8. Zone acreage in the airport zone for green biotech agriculture, specifically larger- scale production of designed proteins and enzymes. Florida has five federal and state funded ethanol fuel refineries that could also provide immediate demand and resources for a dedicated green biotech production operation. Florida has the potential of converting 500 to 900 million gallons of ethanol from agricultural waste and energy crops annually (10% or more of all fuel needs). Although there are other technical and economic hurdles, one of the bottlenecks toward meeting that goal is the availability of cellulose-reducing enzymes. UCF plant-based research has shown the potential to produce tobacco crops that produce 25% or more of their mass in targeted enzymes; by capitalizing on the research of individuals like Dr. Henry Daniell and zoning for transgenic research crops, the Seminole Way could become a focus point for green biotech and biofuel research and industry. Note -the biofuel industry, particularly the sector focusing on enzyme research and production -utilizes most of the same resources as the larger biotech sector, but does not have the same regulatory requirements or costs. 9. Establish a partnership and directory of regional legal, accounting, and regulatory specialists with expertise in clinical trials, human research, FDA regulation, HIPAA regulation, medical manufacturing, and medical intellectual property issues. Through the UCF incubator system, organize a regular schedule of training courses or seminars by these experts to help increase the sophistication and awareness of regional life sciences entrepreneurs. There are no specialized local training resources for this sector, which has greater need than most other sectors. 10. Establish an aggressive economic development marketing and recruiting campaign that promotes the region's resources, demographics, and workforce. Life Sciences Cluster Case Study: TopoGen Inc. Company Size: 5-8 employees Facility /Infrastructure: 1500 square foot/ 2 story Daytona Beach based converted airport hangar Description: Research and diagnostics company focusing on DNA targets, antibodies, enzymes, reagents and kits) Summary: Founder was attracted to the Volusia airport partly due to lifestyle considerations (founder is a pilot) and partially due to transportation considerations. Had originally approached the Orlando-Seminole International Airport but was forced to contract with the Volusia airport instead. Company has its own custom wet labs, water processing, conference and media rooms, production laboratory, dry ice storage and shipping facilities. Company's products are too niche-oriented to require external protein /enzyme manufacturing capacity, but regularly serves as external sponsor for SBIR / STTR applications with UCF faculty conducting biotech and biomolecular research. Founder is an active entrepreneur with significant experience with other universities and research park efforts. Cluster: Financial Services and Information Services The Financial Services cluster is one of the region's most desirable sectors in terms of growth and wages. From an economic development perspective, it focuses on non-retail and non-depository financial services such as back-office and infrastructure banking operations, insurance carriers, securities and commodities, REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATTING JACKSON KERCHERANGLIN 56 SeminoleWay Industry and Facility Analysis -Draft and other technology-oriented financial products. The Financial Services cluster shares many characteristics with the Information Services cluster. The major attractors for these clusters will focus on transportation, facilities, and workforce. The Lake Mary /Heathrow region is gaining recognition as a valuable business location for this cluster. Major employers include State Farm (Winter Haven, 800+ employees) and Continental Casualty (Orlando, 800+ employees). For IT, a very major employer includes Lockheed Martin Information Services (Sand HIII Lake Road area). Financial and Information Services Cluster Infrastructure Requirements In practice, financial services share infrastructure needs similar to any technology- intensive business, with the addition of redundant power and communications and access to transportation corridorse • "A" and "B" office and business park space • Strong broadband and wireless telecommunications and stable power infrastructure. Possibly independent power backup systems for larger operations. • Access to skilled IT, professional services employment base • Access to transportation -road corridors for employees, and air transportation for business and client access • Strong security considerations Financial Services and Information Services Clusters: Recommendations Focus on small- to medium-sized nondepository and technology operations, and the establishment, renovation, or promotion of business offices facilities to support them. Larger companies will be attracted to the Lake Mary / Heathrow region, but smaller companies may be more attracted to less expensive and more flexible opportunities in the Seminole Way corridor. Prior research has shown that there is significant long-term value in attracting even small "foothold" operations of national and intemational financial services corporations, which are more likely to expand existing operations than to establish major facilities in regions in which they do not already have an existing presence and management structure. This sector will also benefit from significant resources in high broadband internet, wireless and telecommunications infrastructure, as both financial services and information technologies industries become increasingly globalized (with internal operations distributed geographically) and provide increasing training, product and service delivery, and client interactivity via the internet. Expand national and international direct-flight offerings at the Orlando- Seminole Intemational Airport. The airport has the potential to be a significant resource for this sector, but (anecdotally) it is currently limited in direct access flights to key US regions and as such cannot compete for traffic via the Orlando International Airport even though it is significantly farther. It is a chicken-and-egg problem, but the addition of a wider range of national and REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATTING JACKSON KERCHER ANGLIN 57 SeminoleWay Industry and Facility Analysis -Draft international direct flights will be necessary before this sector embraces the Orlando Seminole International Airport. Financial Services Cluster Case Study: Premiere Trade Inc. Company Size: 30-40 employees Facility /Infrastructure: 15000 square foot standard office facility in Altamonte Springs Description: Company provides market analytical software, training, and education services to support money management and investment activity including stocks, options, and mutual fund investing. Summary: Company was established in central Florida because founder lived in the region and the affordability of central Florida. Current activities are strongly intemet- based, newly focused on business-to-business markets, and telecommunications and transportation considerations are very significant. The company is considering relocating to the Lake Mary area, attracted to the other financial services activity and to provide better on-site access by clients who primarily fly in to Orlando International Airport due to availability of national and international direct flights. Company must support increasing needs for a dedicated and sophisticated broadcast studio, classroom areas, large computer server infrastructure, and stable/ deep power and telecommunications infrastructures. Cluster: Technical and Research Services • Locally, this sector appears to share connections with regional strengths in the Nonresidential Building Products, Architectural and Engineering Services, and possibly Wiring Devices and Switches clusters. While this cluster does frequently include biotech and medical-related laboratories, the majority of establishments usually focus on civil and environmental engineering and design services. As such, most companies in this cluster are focused on serving and supporting local growth and development. This sector is not driven by innovation or technology development despite high wages and high skill requirements and the scientific /engineering / laboratory expertise of most of its companies. Although UCF has a very strong Civil and Environmental Engineering program that attracts many local companies in this cluster, the benefits to the companies revolve mostly around access to students, promoting a specialized workforce, professional development, and company prestige. • Given the focus on supporting local development and construction projects, ongoing collaboration will likely be difficult to foster except around specific issues. The greatest concerns to this sector include workforce /talent and government regulatory barriers regarding bidding, design, and construction. REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATfING JACKSON KERCHER ANGLIN 58 SeminoleWay Industry and Facility Analysis -Draft Technical and Research Services Cluster: Infrastructure Companies in this cluster require "A" and "B" office facilities with strong Internet and telecommunications support. • Technical and research services companies exist at all sizes, from 1-2 employee architectural design and engineering consulting companies to large multi-capacity engineering agencies. • Frequently, companies will build their own environmental and soil testing laboratories, which are easier to incorporate into new /shell buildings than by renovating or refitting existing buildings. Technical and Research Services Cluster: Recommendations In context of the Governor's focus on "green buildings" and other Florida strengths in solar power and green biotech, one way to promote this sector will be to focus on LEED Green Building certification, Energy Star and Intelligent Building design solutions for local companies. Currently (and anecdotally), few Florida design and engineering firms have LEED certified engineers. New projects that require a "green building" designation require LEED certification, which results in business going out-of- state. Thus, widespread LEED adoption among Orlando-region companies in this cluster will not only increase their competitiveness and reduce reliance on imported services but will also increase the impact of Florida "green" construction projects. • A limited series of LEED certification training programs should be implemented through UCF or SCC. A viable precedent might be the industrial "consortia" approach utilized by the University of South Florida (via the ORBIT organization between 1997-1999) to jointly underwrite costs for multiple companies to achieve IS0900# and Six Sigma certifications. • If the joint LEED certification program is successful, the participants might be leveraged into forming a regional "Green Building /Intelligent Building" network and more permanent training /certification programs via SCC and UCF in the Seminole Way corridor. While a "Green Building /Intelligent Building" sector strategy will not benefit from economic development recruitment efforts, it may help to promote the region as a desirable location for new industry. REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATTING JACKSON KERCHER ANGLIN 59 SeminoleWay Industry and Facility Analysis -Draft Technical and Research Services Cluster: Case Study - Ardaman ~ Associates Company Size: 450+ Facility /Infrastructure: Standard high-end office facility with laboratory capabilities Description: Geotechnical, environmental, water resources, facilities, construction and hazardous waste engineering Summary: Established in 1959 in Pine Castle (Florida), the company moved into its current location in 1981, and currently boasts one of the largest soil and materials analysis laboratories in the state. Corporate headquarters is based in Orlando, with 11 branch ofFces in Florida and Louisiana located primarily to take advantage of regional construction and industry needs. As a major employer, the company is on the UCF board of affiliates and actively supports and sponsors UCF civil and environmental student organizations. Company is a member of the Florida Institute of Consulting Engineers. REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATTING JACKSON KERCHER ANGLIN 60 ® ~ ,. J .. Phase 2 Report -December 2008 Facility Needs and Resource Inventory R~s~RCH C O N S U L T A N T 5 Seminol~IVAY Phase 2 Report -December 2008 TABLE OF CONTENTS INTRODUCTION: Conclusions and Recommendations from the Phase 1 Report I-1 The Vision for SeminoleWay I-1 Economic Futures Analysis I-2 PART A: Target Industry Facility and Infrastructure Requirements A-1 Introduction A-1 1. Life Sciences A-1 2. Digital Arts and Media A-4 3. Financial and Professional Services A-5 4. Research and Technical Services A-5 PART B: SeminoleWay Interchange Properties B-1 Introduction B-3 Final Property Inventory B-4 1. State Road 46 -Rinehart Road B-5 2. Sanford HIP Area B-6 3. County Road 46-A - 25th Street B-7 4. US Highway 17-92 B-8 5. State Road 434 -Winter Springs Boulevard B-9 6. Red Bug Lake Road B-10 7. State Road 426 - Aloma Boulevard B-11 8. Lake Mary Boulevard Extension PART C: Marketing and Incentives -Findings and Recommendations C-1 Introduction C-1 SeminoleWay "Critical Path" to Implementation C-2 Economic Development "Tool Kit" C-4 University of Central Florida Incubation System C-6 Phase 2 Report -December 2008 INTRODUCTION: Conclusions and Recommendations from the Phase 1 Report A brief summary of the findings and conclusions of this first phase evaluation of the SeminoleWay economic development vision is presented here in relation to the major topic areas addressed in that report. The April 2008 Industry and Facilities Analysis report and its appendices provide a more expansive presentation of the study's key findings. The Vision for SeminoleWay What Seminole County community and government leaders want are high value investments and high wage jobs in target industries sectors that will provide economic stability and growth for the next twenty years, or more. For many in local leadership roles, the vision is embodied not in the next successful office development or the next industrial park, which are easily predicted and clearly envisioned. Rather, they are wrestling with defining what will be relevant and needed in the county and the region when the next generation of leadership is in control and making decisions about what is best for its community. For many, it is necessary to understand what is emerging or only anticipated at this time. This analysis summarizes emerging economic trends, bringing industry clusters into focus and evaluating their suitability for the SeminoleWay corridor. The "Vision" held by community stakeholders includes many specific goals and objectives. Based on the results of this analysis to date, "Success" would be defined as: 1. A vision or plan based on realistic economic opportunities for the Corridor, blending public resources, private business interests and education; 2. Attraction of businesses that add to the County's quality of fife through stable investment, high-wage employment, environmentally friendly development, and support for the existing economic base; 3. Expansion of the County's non-residential ad valorem tax base and other revenue sources; 4. Provision of appropriate land use controls and comprehensive plan policies throughout the Corridor to allow desirable "high value/high wage" (and maybe "high tech") businesses to find a place in the county; 5. Land owners understanding the vision of SeminoleWay and "buying in;" 6. Certainty that infrastructure resources, policies, and incentives are aligned at county and municipal levels to enhance the chances of achieving the economic development vision. I-1 Economic Futures Analysis Seminole County already possesses a significant amount of strategic economic development resources that can be readily applied to facilitate economic development within the SeminoleWay Corridor. The foundation for land use policy incentives has previously been laid with the existing HIP-TI targeted future industries land use category. More challenging is finding and promoting existing property resources that have the attributes required to attract and accommodate targeted industries within the county. Building upon the existing economic and industrial conditions in Seminole County and the greater Orlando MSA, the RERC team has identified four specific economic clusters with the greatest potential of fulfilling the SeminoleWay Corridor vision and fostering real long term economic growth in sustainable high wage, high impact industries. They are: 1. Life sciences including biotech and medical instrumentation 2. Digital media including modeling and simulation, film and broadcasting, themed entertainment and animation/game development 3. Financial services and information services 4. Technical and research services including civil and environmental engineering and so-called "green" architectural and engineering services These four clusters represent the most feasible and attractive future of the SeminoleWay Corridor given the context and identified constraints. Policy decisions concerning each cluster should be evaluated and tailored to exploit the resources identified within this report. Any limitations of or barriers to the successful cultivation of the SeminoleWay targeted industry clusters are likely to be spatially specific in nature. From a global perspective, the SeminoleWay Con-idor is already well suited to attract and sustain each of the identified clusters without significant hindrance from transportation infrastructure, environmental constraints, suitable housing, educational resources, or land use and comprehensive planning policies, Accounting for environmental constraints and major accessibility issues, the State Road 417 Corridor between I-4 and the Orange County line contains about 3,300 acres of land that was initially considered suitable for economic development efforts of the SeminoleWay vision. Of these ripe lands, the majority of acreage can be classified as underutilized rather than vacant. Approximately 500 acres within the two mile corridor and nearly 900 acres located within the Sanford Orlando Airport and HIP areas are functionally vacant. These constraints suggest that targeted industries and development within the corridor will necessarily be focused toward smaller individual developments and businesses that may not require a large tightly clustered campus and the associated large tracts of raw undeveloped land. To serve the most obvious target industries and businesses, large-scale land assemblage is probably not necessary. I-2 The suitable land within SeminoleWay is, however, clustered around readily accessible SR 417 interchanges. SR 417 itself provides ready and efficient access to both interstate 4, Sanford Orlando International Airport and Orlando Intemational Airport. The future land use policies of Seminole County and the SeminoleWay partner municipalities currently governing the available lands around the SR 417 interchanges support the SeminoleWay vision and may require only minor adjustment on a spatially specific basis to fully accommodate the specific SeminoleWay targeted industries. The following Phase 2 report further examines suitable property resources at each of the eight SR 417 interchanges and presents specific parcels that appear ready and able to accommodate targeted industry development. I-3 State Road 417 -SeminoleWay Interchanges Seminol~IVAY Phase 2 Report -December 2008 PART A: Target Industry Facility and Infrastructure Requirements Introduction As part of the Phase 2 effort regarding the SeminoleWay corridor economic development analysis, RERC has researched the character of locations and physical facilities required to accommodate the specific target industries identified in the Phase 1 analysis. For the most part, these facility and site requirements are consistent with the suburban office and light industrial character found within Seminole County and the municipalities located along the State Road 417 corridor and proximate to its interchanges. In the following pages, each target industry and its facility requirements are briefly summarized. 1. Life Sciences The Life Sciences industry can be subdivided into four categories: Discovery, Education, Treatment and Commerce. The Discovery sub sector includes life science operations and facilities that are dedicated toward life sciences research and design. This sub sector is typically dominated by large institutional users such as Nemours, Scripps and Torrey Pines. Many research facilities are directly associated with large universities, medical and pharmacy schools. Research Institution facilities include academic research labs, vivariums, healthcare labs, and health science teaching labs. While the research laboratory facilities of larger facilities can exceed 200,000 square feet, the Discovery category also includes smaller companies that may require significantly less (2,000 - 50,000 square feet) independent laboratory space as well as start ups and emerging companies that benefit from the presence of shared, potentially subsidized wet lab space. There is a significant amount of overlap between the Discovery and Education life science sub sectors. Many research facilities and laboratories are partnerships between private institutions and public university systems. Education sector facilities include teaching labs at medical schools, nursing schools and community colleges and vary in size and complexity based upon the educational focus. For instance, the requirements of a nursing teaching laboratory will differ dramatically from an academic pharmaceutical research facility. Health science teaching labs may focus on a diverse range of educational activity including: o Anatomy o Chemistry o Engineering A-1 o Nuclear medicine o Magnetic resonance o Nursing o Dental o Occupational therapy The Treatment life sciences category includes a wide breadth of medical activity including hospitals, outpatient facilities, surgical centers, doctor's offices, testing laboratories and diagnostic laboratories. Facilities requirements vary with doctor's offices and smaller surgical centers conforming to typical medical office configurations and testing laboratories and clinical diagnostic labs requiring potentially sophisticated wet tab space. The Commerce category within the Life Sciences industry includes the developers and manufactures of devices and technology supportive of research and medicine. Companies may include medical device manufacturers, optics manufacturers or simulation labs. Laboratory requirements may be less oriented towards wet labs and biological research and focus more on clean design laboratories. Optics companies in particular may require "clean room" research, development and assembly space. Laboratory Space Each of the four identified Life Sciences categories potentially require some form of associated laboratory space. Wet lab space is most highly required by the Discovery sector's research laboratory facilities, either in the form of large institutional facilities or smaller shared space. Wet lab space may also be required in the Education and Treatment sectors for health science, diagnostic and testing laboratories. Common wet lab uses include academic research labs, vivariums, health care labs, health sciences teaching labs and pharmacology labs. "Wet labs" differentiate from other laboratory and research facilities in their ability to handle chemical and biological materials. In practice, this signifies o Special water and waste handling systems o Special air treatment, purification, and circulation systems including constant and reliable HVAC, dust control, gas/utility services and fume hoods o Special building security, control, and storage systems 0 24 hour access 0 14' to 18' floor to floor heights 0 20' to 30' column spacing o Vibration minimizing floors capable of handling 125-150 Ibs per square foot o Fail safe uninterruptible electrical and power systems o Individual companies will have additional "wet lab" needs that will be differentiated by their specialty (e.g., a stem cell company's need to handle cell cultures may be different than a pharmaceutical manufacturer that specializes in organic chemicals). A-2 Wet labs are most often configured in open module arrangements. Atypical module could be 12' wide by 24' long, allowing two joined modules to fit within a 24' by 31' column bay. Open module lab arrangements with back to back benches allow single lab facilities to accommodate multiple users, departments, or companies and allow greater flexibility for the reorganization of private or semi-private lab space within multi-tenant facilities. • Wet labs can be constructed build-to-suit or can be converted from class A office or flex space provided certain space requirements are met. • Typical wet-lab space costs $450-$500 build to suit. Space can be built more economically if office or flex space can be reused. Most often, a top floor space with 14' to 18' ceilings is desired to accommodate necessary HVAC, water treatment and air treatment demands. 20 - 30 foot column spacing is desirable to incorporate modular lab design. Land Use and Environmental The facilities required for small to mid-sized pharmaceutical companies, research laboratories, optics, simulation and robotics companies and life sciences incubator installations can be readily accommodated within a variety of the existing zoning and future land use categories within Seminole County and the associated municipalities. Future land use categories including office, commercial, HIP-TI, HIP-Air, Industrial and WIC are all potentially conducive to targeted life sciences development. Life sciences companies of all sizes (although to a lesser extent for startups) benefit from strong air transportation resources and specialized training and professional services. Few industries are subjected to higher levels of federal scrutiny; the FDA clinical trial regulatory system significantly multiplies the cost and risk of bringing new life sciences products to market. Further, HIPAA and manufacturing quality requirements also increase security and manufacturing costs for this industry. • Life sciences companies, particularly emerging entities, may prefer to physically position their facilities proximate to existing research and university facilities such as UCF. 1 Life sciences companies will benefit from strong broadband and wireless connectivity and a range of standard business /office space leasing options (in terms of cost and amenities). • Life Sciences industry development will benefit from Seminole County's inventory of attractive and high-value single- and multi- family housing. • Cash incentives are potentially required to attract life sciences companies, given the current market for their business, the ability to potentially locate anywhere and the willingness of other domestic and international markets to provide capital and cash incentives. A-3 2. Digital Arts and Media Within Central Florida, Digital Arts and Media can be subdivided into four major categories: Modeling, simulation and training (MS&T), Film and television production, Theme park/ride and show and Interactive and immersive entertainment. While the focus of enterprise in each of these categories is unique, they share nearly identical infrastructure and facility requirements. Digital Media companies can readily locate into existing Class A or B office space or appropriate flex space provided that the facility can be serviced by high bandwidth broadband telecommunications infrastructure. From a land use perspective, office, commercial, HIP-TI, and to a lesser extent HIP-AP and Industrial, future land use zonings can accommodate any of the structures necessary for Digital Arts and Media developments • General facility and infrastructure needs are described by flexible /inexpensive buildings and office space with very strong broadband Internet connectivity. Many freelancers operate out of home businesses, often with a network of collaborators /subcontractors to deliver larger client projects. • Some categories of digital media, particularly those focusing on communications, will be attracted to and benefit from above-average bandwidth and Internet infrastructure access points as they reduce packet lag and delay. In practice, this probably translates to 1000baseT ethernet connectivity within buildings and an OC3 fiber or greater external (street-to-building) connectivity. • The internal "components" of Digital Media companies, such as sound stages and post production houses, can easily be incorporated into general office and flex space facilities. • The most unique requirement of this sector is one of environment and lifestyle. Digital media companies will be attracted to "artist communities" and liberal, avant-garde neighborhoods with trendy restaurants, retail and "raw food" stores as might be found "in L.A." (or Austin, or New York, or San Francisco...). The downtown "Creative Village" concept, if properly fostered, might address this environmental aspect; in the short term the Seminole Way region should not try to duplicate or compete with the Creative Village to establish a centralized "creative neighborhood" environment. However, an emerging digital arts and media cluster could potentially benefit from close proximity to the University of Central Florida and the National Center for Simulation. • The digital arts and media cluster does not require significant infrastructure or site improvements with the exception of strong broadband connectivity. Lifestyle changes are less on-site and more local and many employees work virtually from a home office. A-4 3. Financial and Professional Services 4. Research and Technical Services The financial services and the research and technical services cluster share the same basic facility and infrastructure requirements. • In practice, financial services and research and technical services share infrastructure needs similar to any technology-intensive business, with the addition of redundant power and communications and access to transportation corridors: o "A" and "B" office and business park space o Strong broadband and wireless telecommunications and stable power infrastructure. Possibly independent power backup systems for larger operations. o Access to skilled IT, professional services employment base o Access to transportation - road corridors for employees, and air transportation for business and client access o Strong security considerations • Financial services and research and technical services can be accommodated by fairly generic future land use categories such as office and commercial and by Seminole County's HIP-TI future land use designation. Additionally, financial, research and technical support services that do not require "store front" or roadway exposure can adequately locate within class A and B office space or flex space interspersed among other forms of development. ~ ~, ,~ .~- ,.,~ ~~ f,b A-5 Seminole County Office Space Concentrations - 2007 Summary of Facility and Infrastructure Requirements, SeminoleWay 1. Life Sciences Discoverysub-sector: oriented toward research and design; research labs; healthcare labs; vivariums; pharmacology; wet labs; institutional companies. These enterprises use laboratories, industrial/flex-space buildings, and conventional office space. Education sub-sector: oriented largely to teaching, including medical schools, nursing schools, and teaching laboratories. These institutions utilize laboratories, classrooms, and office space. Treatment sub-sector: oriented toward hospitals, clinics, outpatient facilities, doctors' offices, surgical centers, and diagnostic laboratories. These enterprises utilize medical office space and laboratories. Commerce sub-sector: includes developers and manufacturers of devices and technology supporting life sciences technology. These enterprises utilize various kinds of laboratories and special-purpose industrial space. Life sciences companies may prefer to physically position their facilities proximate to existing research and university facilities. Life sciences companies will benefit from strong broadband and wireless connectivity and a range of standard business /offices ace leasin o tions. 2. Digital Arts and Media Subdivided into four major categories: Modeling, simulation and training; Film and television production; Theme parklride and show; Interactive and immersive entertainment. Facility and infrastructure needs are described by flexible inexpensive buildings and office space with very strong broadband Internet connectivity. The most unique requirement of this sector is one of environment and lifes le. 3. Financial and Financial, research, and technical services share Professional Services infrastructure needs similar to any technology-intensive 4. Research and Technical business, with the addition of redundant power and Services communications and transportation access. • "A"and "8"office and business park space • Access to skilled IT, professional services employment base • Stron broadband and wireless telecommunications SOURCE: Real Estate Research Consultants A-6 i Phase 2 Report -December 2008 PART B: SeminoleWay Interchange Properties Introduction In the SeminoleWay Phase 1 report, RERC and Glatting Jackson identified eight distinct S.R. 417 interchange areas and provided summaries and generalized maps of the vacant and underutilized parcels present at each. The following map illustrates the vacant and underutilized parcels within SeminoleWay by interchange as identified in the Phase 1 analysis. For the purpose of determining the suitability of each interchange to accommodate development associated with the four identified targeted industries, RERC obtained complete lists of the vacant and underutilized parcels at the individual interchange areas. As a preliminary measure, the parcel lists were scrubbed to remove any substantially un- developable parcels such as rights of way, storm water retention areas, etc. Each parcel was then scored by awarding one point for each of the following criteria: • The size of the parcel is greater than 2.0 acres • The parcel was vacant or substantially underutilized • The parcel is easily accessible from the appropriate interchange • The existing zoning permits the allowable building types necessary for development with one of the four targeted industries • The future land use designation of the parcel permits the allowable building types necessary for development within one of the four targeted industries • The parcel possesses the ability to be aggregated with an adjacent vacant/underutilized parcel After scoring, the reduced lists of parcels were mapped in order to further identify possible constraints or comparative advantages for development. Utilizing the initially scored parcel lists and maps, RERC completed extensive field work at each of the interchange areas to reinforce and confirm the property analysis and to assess the accessibility and visibility of high-scoring parcels. Factoring in information obtained through the field analysis, RERC further refined the suitability scores for each vacant/underutilized parcel at each interchange and categorized each parcel into one of two tiers. Tier One parcels are typically vacant, larger than two acres, directly accessible from major roadways, visible from business arterials, and located in typical commercial or business environments. Tier Two parcels possess many of the attributes of Tier One parcels but might potentially lack some of the favorable qualities associated with Tier One properties or may require assemblage and/or land use changes to accommodate target industry facilities. B-1 SeminoleWay Interchanges and Potential Development Parcels -Phase 1 Analysis Lake Monme ~~ F:~..F _ f Interchange 1 '~ - f •r ~ - { ,. --- - ~s_ .- -- -•- ~- ~~ ~ +~.V~ x'92 ' ~ , - Interrchange ~ t l.k: Mary Blvd Ext == ... , A ~=~;~~• ~ - GENJCHUKMI PK ~j'lJteJesup ~ ~ SR 434 Interchange- . r r ~ ,; ,~ -~.- ;r i. 1 ` f ~„Alotna Ave., Inierciiange B-2 Final Property Inventory The following summaries present the key parcels within each interchange and the findings and recommendations regarding the suitability of each interchange for the targeted industries. This analysis provides an initial level of "due diligence" regarding potentially usable properties. Because of the ever-changing nature of real estate markets, property transactions, and efforts by land owners to develop, market, or entitle their properties, this initial survey cannot be guaranteed to be fully accurate or to remain static for more than a year, or so. Continual monitorin4 and updates of kev data for suitable properties is recommended. Because of the limited and dispersed number of suitable properties around the developed SR 417 interchanges, RERC added the corridor along the Lake Mary Boulevard extension south and east of the Orlando-Sanford International Airport to the inventory of available properties; this substantially increases attractive land resources. In total, this study has identified approximately 365 parcels and 2,320 acres of vacant or substantially underutilized property generally located within one mile of a major interchange on SR 417, having access and utilities, and properly planned for uses which can accommodate the facilities required for the four major target industries identified in the Phase 1 SeminoleWay report. However, it should be noted that about 60% of the available and suitable property is located along the Lake Mary Boulevard extension near Orlando Sanford International Airport. As much as 15 to 20 million square feet of new office, light industrial, or commercial buildings, mixed-use, or higher intensity residential projects could be accommodated on these properties within the SeminoleWay corridor. Available Property Suitable for Development, SeminoleWAY Corridor, December 2008 n#e ,c t d e °'Numbe~,of,;4. a lab`s. ; d~Ac ea ~`r Interchange Areas (North to South 1. Rinehart Road/SR 46 52 275 2. Sanford HIP 48 358 3. CR 46A 3 17.5 4. US 17-92 10 65.5 5. SR 434 10 46.9 6. Red Bu Lake Road 13 68.3 7. SR 426/Aloma 10 35.3 Sub-total 146 866.5 Stud Area: 8. Lake Ma Boulevard Ext. 219 1,453.8 Stud Corridor Total 365 2,320.3 SOURCE: Seminole County Tax Roll; Real Estate Research Consultants; viatting ~acKSOn B-3 1. State Road 46 -Rinehart Road Summary Observations: a) The study area centered around Rinehart Road and State Road 46, including portions of the I-4 HIP-TI (Higher Intensity Planned Development-Target Industry) area, is one of the most productive areas for future economic development, potentially including all of the target industry groups -but most notably financial and professional services, technical and research services, and digital media enterprises. b) Almost all of the identified properties are designated for higher intensity office, commercial, or industrial land uses, according to the future land use plans of Seminole County and the City of Sanford. c) Within this district, RERC and Glatting Jackson have identified 52 suitable properties totaling about 275 acres. d) Because of the district's proximity to Heathrow, Colonial Town Park, and Towne Center Mall, it is highly probable that many financial and professional services businesses will expand here, in addition to conventional retail and commercial activities. e) While properties are numerous, many are relatively small. Only a handful of available properties are larger than ten acres without assemblage. f) This is an established and highly developed area. There will be strong and diverse pressures for conventional developments. To encourage digital media or life sciences to develop within this district, a sophisticated and aggressive program of incentives or other intervention may be required. Parcel Matrix and Map The following matrix summarizes key characteristics of the available properties identified for this analysis. The Map Key number and Parcel ID are matched to the following map depicting specific parcels within the study area. B-4 AVAILABLE INTERCHANGE PROPERTIES, DECEMBER 2008 RINEHART-SR 46 Map Key Parcel ID Acreage Owner Zoning Future Land Use Property Address 1 32193030000780000 11.5 KELLEY'EOGHAN N A-1 -NI [Sanford) ' RINEHART RD 2 1819305A00000087A 7.7 SEMINOLE WAREHOUSE PARTS A-1 HiPTt,[County], WIC [Sanford] 3980' W 46'SR (3955) 3 30193030004100000 13.4 K HOVNANIAN CAMBRIDGE HO A-1 PD, LDR #N/A 4 28193050600000070 5.2' MMM'INV LLC A-1, ', WIC (Sanford] 4201 W, 46 SR 5 291930300037F0000 5.1 KELLEY CHRISTOPHER E SUCC T PD HI [Sanford] 4655 ST JOHNS PKWY 6 28193050600000396 6'.6 KELLEY CHRISTOPHER E SUCC T AG WIC [Sanford] 4530 ST JOHNS PKWY 7 28193050600000450 11.3 STENSTROM DOUGLAS JR & RI1 WIC [Sanford] 1043_UPSALA-RD 8 29193030002800000 28.5 PAULUCCI )ENO F & A-1 HIPTI INTERNATIONAL PKWY. 9 2819305060000037A 10.7 KELLEY EOGHAN N A-i WIC`[Sanford] 4400 STJOHNS PKWY 10 28193050600000270 27.4 PAULUCCI'JENO F & A-1 WIC [Sar-ford] UPSALA RD 11 1619305A00000050A 11.7 SPACEPORT USA INC M-lA IND 12 1619305A000000290 5.2 KBC DEV INC A-1 IND 13 '1619305A000OOOOF3 1.0 ' PATEL' RAMBHAI K &'SAROJ A-1 ' HIPTI NARCISSUS - 14 1619305A000OOOOKO 1.9 ALDI (FLORIDA) LLC A-1 HIPTI #N/A 15 2019305FL00000110 1.9 'SUNPLEX 5-R HOLDINGS LLC A 1 '' IND '' 17 2119305050000004A 1.1 FIGUEIREDOJAMES N:TRUSTEE A-Y HIPTI CHURCH ST 18 2819305060000005A 2.5 N/T FLA SANFORD LLC A-1 PSP [Sanford] W 46 SR 20 2019305FL00000120 2.3 SUNPLEX 5-R HOLDINGS LLC A-1 IND 680 HICKMAN CR 21 2019305FL00000090 19 SUNPLEX 5-R HOLDINGS LLC A-1 _IND HICKMAN CIR 22 2019305FL00000100 2.0 SUNPLEX 5-R HOLDINGS LLC A-1'' IND HICKMAN CIR 24 21193050300000060 1.9 KBC'DEV INC A-1', IND,, _ ORANGE BLVD 25 1619305A00000086B 1.8 HIGHMOOR LLC A-1 HIPTI 225 MONROE RD 28 28193050600000060. 3.8 N T FLORIDA SANFORD LLC A-1 PSP [Sanford] W 46 SR 31 28193050300000010 2.4 TRAN THUAN C & TRUC C R-lA HIPTI W 46 SR 32 1619305A00000045B 1.7 HARKINS C WILLIAM TRUSTEE,I' A-1 CITY 701 MONROE (& 707).. RD 34 3219305010000010A 2.2 BALLTHOMAS BIII AG WIC, HI, MDR15 [Sanford] 1221 RINEHART RD 35 28193050600000050 2.1 N/T FLA SANFORD LLC A-1 WIC [Sanford] 165 5 ELDER RD 36 2019305Ft08000050 1.7 "'RENZULLI PROPERTIES LLC M-lA IND HICKMAN DR 37 1619305A000000300 2.4 PARKTEC LAKE MONROE LLC A-1 HIPTI N ELDER RD 38 2019305FLOB000060 1.6 ' RENZULLI PROPERTIES LLC M-3A IND'' HICKMAN'DR' 40 29193030002600000 5.8 YEN MING TRUSTEE A-1 HIPTI 4941 WOODRUFF SPRINGS RD 41 1619305A000000720 18.1 VON COMPANIES LLC A-1 HIPTI [County], WIC [Sanford]-451. MONROE RD 42 29193050900000030 10.7 PD HI [Sanford] 1810-RINEHART RD 43 1619305A00000052A 4.6 BREMER LANCE A A-1 HIPTI 621 N ELDER RD 44 1619305ACb0000346 4.4 I SCHAEFFERJOHNf'& LINDA ___ A-il' PUBU [County], WIC [Sanford] 4009 SCHOOL ST AVAILABLE INTERCHANGE PROPERTIES, DECEMBER 2008 RINEHART-SR 46 Map Key Parcel ID Acreage Owner Zoning Future Land Use Property Address 46 29193050900000020 1.9 PD PSP, HI [Sanford] 47 1619305A000000450 3.1 SEMINOLE B C C A-1 CITY CHURCH ST 48 29193030002200000 1.6 SPIVEY HELEN L LIFE EST A-1 HIPTI 4981 WOODRUFF SPRINGS RD 51 1619305AC0000033G 2.1 RABUN G TERRY A-1, CITY 755 STJOSEPHS CT 55 1619305AB02000100 3.8 CLAYTON NIKKI M A-1 LDR ORANGE BLVD... 57 29193050900000040 1.5 PD HI [Sanford]: RINEHART RD 58 1619305A00000065A 4.9 MARONDA HOMES INC OF FLA A-1 HIPTI MARONDA WAY 59 2819305060000004A 2.6 ROCKER CARTER L & SUZANNE A-1 HIPTI 160 5 ELDER RD 61 29193030002700000 3.7 GCD PROPERTIES A-1 HIPTI [County], PSP [Sanford] 4881 WOODRUFF SPRINGS RD 62 1619305AB03000040 4.5 CLAYTON NIKKI M PCD PD 4680 ORANGE BLVD 63 1619305ACA000034A 4.1 -VIRGINIAAVE'LtC A-1 'VUIC{Sanford], HIPTI'[County) __ '3918CHURCHST 64 28193050600000031 1.7 SPLASH N DASH INC A-1 HIPTI [County], PSP [Sanford], 66 29193030002500000 3.9 YEN MING TRUSTEE A-1 HIPTI 4951 WOODRUFF SPRINGS RD 67 29193050200000040 2.7 MILAM FRANCES E & SWEETSEI A-1 HIPTI 68 1619305AB02000090 3.0 SCOTTJ C A-1 LDR ORANGE BLVD 69 1619305A00000056A 3.3 KLEINSCHNIIDT JOHN N & A-1 HIPTI 3883 CHURCH ST 71 29193030002300000' ` 3.4 BRANNON BARBARA A-1' HIPTI 4963 WOODRUFF SPRINGS RD TOTAL 275.6 TIER 1 Properties TIER 2 Properties 1 321930300007B0000 2 1619305A00000087A 3 30193030004100000 4 28193050600000070 5 291930300037F0000 6 ..28193050600000398 7 .28193050600000450 8 29193030002800000 9 ` 2819305060000037A 10 '28193050600000270 11' 1619305AC000OOSOA 12 ?1619305A000000290 13 `1619305A000OOOOF3 14 ,` 1619305A000OOOOKO 15' 2019305FL00000110 16 '1619305A00000046A 17' 2119305050000004A 18 2819305060000005A 19 2019305FL06000100 20 2019305FL00000120 21 2019305FL00000090 22 2019305FL00000100 23 21193050100000110 24.'21193050300000060 25 1619305A00000086B ?_6 21193050300000080 27 2919305030D000000 28 .28193050600000060 29 28193051600000120 30 291930300038AU000 31 28193050300000010 32 1619305A00000045B 33 32193050600000040 34` 3219305010000010A 35 28193050600000050 36 2019305FL06000050 37 1619305A000000300 38 2019305FLOB000060 39 21193050300000090 40 29193030002600000 41 1619305A000000720 42 29193050900000030 43 1619305A00000052A 44 1619305A00000034B 45 29193050200000030 46 29193050900000020 47- 1619305A000000450 48 29193030002200000 49 2919305030A000000 50 21193050100000080 51 1619305A00000033G 52 21193050600000090 53 21193050500000010 54 `21193050700000000 55 1619305AB02000100 56 21193050500000040 57 29193050900000040 58 1619305A00000065A 54 2819305060000004A 60 1619305A00000045A 61 29193030002700000 62 1619305AB03000040 63 1619305A00000034A 64 28193050600000031 65 29193050900000050 66 29193030002500000 67 29193050200000040 68 1619305A802000090 69 1619305A00000056A 70 '291930300037E0000 71 29193030002300000 -72 29193050100000060 73 201930300004A0000 '~ ~„ 1 .`w ~, ~_.. `` r' Fr i' r~ ~'~`* . ~~ '3~ State Road 46 !3`^»;. ~`` . 0 1,500 3,000 Feet 2. Sanford HIP Area Summary Observations: a) The study area located north of State Road 46 and east of Monroe Road, including portions of the Sanford HIP-TI (Higher Intensity Planned Development-Target Industry) area, is another one of the most productive areas for future economic development, potentially including all of the target industry groups -but most notably life sciences support services, technical and research services, and digital media enterprises. b) Almost all of the identified properties are designated for higher intensity office, commercial, or industrial land uses, according to the future land use plans of Seminole County and the City of Sanford. Within this district, RERC and Glatting Jackson have identified 48 suitable properties totaling about 358 acres. c) Because of the district's access to I-4, SR 417, rail service, and Towne Center Mall and its predominantly industrial character, it is highly probable that many technical and research services businesses could locate here, in addition to conventional light industrial and commercial activities. d) While properties are numerous and relatively small, there are some larger parcels and the average parcel size is significant, allowing larger scale development. Many parcels are contiguous, which may allow for assemblage if desirable. e) This is an established and highly developed area. There will be strong and diverse pressures for conventional developments. To encourage digital media or life sciences to develop within this district, a sophisticated and aggressive program of incentives or other intervention may be required. f) This is the only district studied which will accommodate a regional commuter rail station, which will provide unique access to downtown Orlando and other key employment centers and neighborhoods throughout the metropolitan area. Parcel Matrix and Map The following matrix summarizes key characteristics of the available properties identified for this analysis. The Map Key number and Parcel ID are matched to the following map depicting specific parcels within the study area. B-5 AVAILABLE INTERCHANGE PROPERTIES, DECEMBER 2008 SANFORD HIP Map Key Parcel ID Acreage Owner Zoning Future Land Use Property Address 1 1619305A00000082B 3J HIGHMOOR LLC" A-1 WIC [Sanford] 375 MONROE RD 4 1619305A00000076C 3.1 BOYDRICHARD W & BRENDA K A-1 HIPTI 495 N WHITE CEDAR RD` 5 2219305AD00000330 2.4 HUDSON C FRED IIFTRUST A-i WIC [Sanford] W 46 SR 6 1619305A00000076B 3.7 NIELSEN JAMES E JR & GINA M A-i HIPTI N WHITE CEDAR RD 7 27193030000100000 8.7 WAYNE DENSCH INC M-1 WIC [Sanford] W 1ST ST 8 1619305A000000630 8.6 WHITE CEDAR ESTATES LLC A-1 CITY N WHITE CEDAR RD 9 1619305AC0000059A 5.5 SANFORD RECYCLING & TRANSFEI M-1 WIC, PSP [Sanford] RAND YARD 10 1619305A000000910 9.3 HARVEST TIME INTERNATIONALJI A-1 WIC [Sanford] 220 N KENNEL RD 11 1619305A000000930 11.0 D R NORTON INC A-1 HIPTI 133 N WHITE CEDAR RD 12 1619305A000000740 9.8 WHITE CEDAR ESTATES LLC A-1 'CITY ' 3855 IOWA AVE 13 1619305A000000800 8.7 WHITE CEDAR ESTATES LLC A-i WIC [Sanford) N WHITE CEDAR RD 14 2219305AD00000010 20:9 GREAT POTPOURRI LTD MI2 WIC [Sanford] NARCISSUS 15 1619305A000000560 5.9 LEPACH DAVE A-1 CITY CHURCH ST 16 1619305A000000810 6.3 HIGHMOOR LLC AG WIC (Sanford] NARCISSUS 17 1619305AC00000790 9.2 GREAT POTPOURRI LTD A-1 WIC [Sanford] 18 1619305A000000870 8.7 LO BROS ENTERPRISES INC A-1 HIPTI [Sanford]. 3900 W 46 SR 19 1619305A000000770 18.6 KELLEY CHRISTOPHER E SUCC TR A-1 WIC [Sanford] N KENNEL RD 20 1619305A00000035A 9.3 LAKE MONROE DEV lLC PD WIG[Sanford] 3840 CHURCH ST 21 1619305AC00000590 5.8 KELLEY CHRISTOPHER E SUCC TR A-i .WIC [Sanford] IOWA AVE 22 1619305A000OOOOLO 9.4 WHITE CEDAR ESTATES LLC A-1 CITY NARCISSUS 23 1619305A000000580 6.7 LAKE MONROE DEV,LLC A-1 WIC [Sanford] N WHITE CEDAR RD 24 2219305AD00000050 .17.0 DORSEY NORBERT M BISHOP- M-i WIG [Sanford] NARCISSUS AVE 25 1619305A000000570 8.0 CASTRO RAY A-1 'CITY N WHITE CEDAR RD 26 2219305AD00000280 44:.8 DORSEY NORBERT M BISHOP A-1 WIC [Sanford] ` 3049 NARCISSUS`AVE 27 1619305A00000089A 7.4 D R NORTON INC A-1 HIPTI N WHITE CEDAR RD 28 1619305A000000750 8.1 WHITE CEDAR ESTATES LLC A-1 WIC [Sanford] IOWA ST 32 1619305A00000086E 2.1 GALLOWAY FRANCES E A-1 HIPTI 255 MONROE RD 33 1619305A000000860 3.6 HIGHMOOR LLC A-i HIPTI 34 1619305A00000067A 4.8 MONROE INV LLC A-1 HIPTI 535 N ELDER RD 36 1619305A000000670 4.7 SCHWEIZER GARTH A A-1 HIPTI 575 N ELDER RD 37 1619305A00000081A' __ _ _ _ ''2.5 __ '''BEHRENS'CLAUDETTEIWTRUSTEE AG 'WIC [Sanford] __ 3900 NARCISSUS AVE _ - __ 38 '1619305A000000940' 2.4 ' D R HORTON'INC !' A-1 WIC [Sanford] ___ 2204 N WWITE,CEDAR RD 39 1619305A000000946 3.2 A-i WIC [Sanford] 3710 W 1ST ST 40 1619305A000000640 4.6 CHURCH FIRST PENTECOSTAL OF A-1 CITY #N/A 41 2219305AD00000390' 4.5 _ THUD-ONE LLC A-1 WIC [Sanford] 3310 W 46 SR AVAILABLE INTERCHANGE PROPERTIES, DECEMBER 2008 SANFORD HIP Map Key Parcel ID Acreage Owner Zoning Future Land Use Property Address 42 2219305AD00000380 4.3 COMMERCIALTRUCKSRLES & A-1 WIC [Sanford] 3400 W'46 SR 44 1619305A000000620 '' '1.6 'MOORE'1ESSE E & CAROLYN J A-1 HIPTI 501 NORTH WHITE CEDAR RD 45 1619305A000000760 ' 1.5 BOYD RICHARD W & BRENDA K A-1 HIPTI 445 N' WHITE CEDAR RD 46 1619305A00000089B 1.8 D R NORTON INC A-1 HIPTI 260 N WHITE CEDAR RD 47 2219305AD00000370 a.7 HUYNH'HARRY'& A-1 WIC [Sanford] 3424 W 46 SR 48 2219305AD0000049A' 1.1 ' KELLEY CHRISTOPHER E TRUSTEE M-1 WIC, HIPTI 3298 NARCISSUS AVE 49 1619305A00000082C 4.0 HIGHNIOOR LLC PD WIC [Sanford] 343 MONROE RD 50 271930300001A0000 5.5 GABFT LLC M-1 HIPTI. 2720 W 1ST ST 51 2219305AD00000270 5.1 WAYNE DENSCH INC M-1 IND, HIPTI RAND YARD RD 52 2219305AD00000350 9.0 HARVEST TIME1NTERNATIONAL 11 PD WIC [Sanford] NARCISSUS AVE 53 1t19305A000000900 9.3 D R'HORTON 1NC, A-1 HIPTI N WHITE CEDAR RD 54 1619305A00000064A 5.1 IEPACH DAVID I A-1 CITY #N/A 55 1619305A000000920" 11.7 " LO BROS ENTERPRISES INC A-1 __ 'WIC [Sanford] 3550,W 46 5R TOTAL 357.9 TIER 1 Properties TIER 2 Properties Sanford HIP " ° ,.4°° 2,$°° feet 3. County Road 46-A - 25t`' Street Summary Observations: a) The study area centered on 25th Street/H.E. Thomas Jr. Parkway (aka County Road 46-A) includes portions of Sanford, Lake Mary, and unincorporated Seminole County. This is probably the least productive area for future economic development, primarily because the land resources are largely built out at this time. b) Within this district, RERC and Glatting Jackson have identified only three suitable properties totaling about 17.5 acres. c) The identified properties are designated for higher density residential, commercial, or low density residential land uses, according to the future land use plans of Seminole County and the City of Sanford. d) Despite the district's access to SR 417, its predominantly residential character makes it highly unlikely that anything but limited professional services or technical and research services businesses could locate here. e) While properties are limited in number, the average parcel size is significant, allowing larger scale development. Two parcels are contiguous, which may allow for assemblage if desirable. f) This is an established and highly developed area. There will be strong and diverse pressures for conventional developments. To encourage digital media or life sciences to develop within this district, a sophisticated and aggressive program of incentives or other intervention may be required. Parcel Matrix and Map The following matrix summarizes key characteristics of the available properties identified for this analysis. The Map Key number and Parcel ID are matched to the following map depicting specific parcels within the study area. B-6 AVAILABLE INTERCHANGE PROPERTIES, DECEMBER 2008 CR46A Map Key Parcel ID Acreage Owner Zoning Future Land Use Property Address 1 3419305030F000010 9J GILMORE RICARI)O L& R-1 LDR W 20TH ST 2 02203030002200000 2.8 CSX TRANSPORTATION INC A-1 COM W 25TH ST 3 02203030002300000 5.0 CSX TRANSPORTATION INC RI1 COM,'HDR GC W 25THST TOTAL 17.5 TIER 1 Properties TIER 2 Properties Feet C R 46A $°° ''600 4. US Highway 17-92 Summary Observations: a) The study area centered around the intersection of SR 417, SR 472, Lake Mary Boulevard, and US Highway 17-92 includes portions of the City of Sanford and unincorporated Seminole County. Like the CR 46-A area, this is another one of the least productive areas for future economic development due primarily to a shortage of available vacant properties. A good portion of the immediate interchange area is within Seminole County's Community Redevelopment Area (CRA), which is designated for significant redevelopment over the next 10 to 20 years. This linear redevelopment area could potentially include most of the target industry groups -but most notably business and professional support services, technical and research services, and digital media enterprises. b) Almost all of the identified properties are designated for office, commercial, or industrial land uses, according to the future land use plans of Seminole County and the City of Sanford. c) Within this district, RERC and Glatting Jackson have identified 10 suitable properties totaling about 65 acres. With substantial redevelopment, acres of additional land might be made available, but at a substantial cost. d) Identified properties are limited in number and geographically dispersed. In most cases, access to the US 17-92 interchange is not direct. e) This is an established and highly developed area. There will be strong and diverse pressures for conventional developments. To encourage digital media or life sciences to develop within this district, a sophisticated and aggressive program of incentives or other intervention may be required. For a significant scale of professional or other business services to occur, redevelopment will be required. Parcel Matrix and Map The following matrix summarizes key characteristics of the available properties identified for this analysis. The Map Key number and Parcel ID are matched to the following map depicting specific parcels within the study area. B-7 AVAILABLE INTERCHANGE PROPERTIES, DECEMBER 2008 US 17-92 Map Key Parcel ID Acreage Owner Zoning Future Land Use 1 072031300017M0000 14.1 POWERS CHARLES H M12 I 2 072031300017P0000 11.3 ' POWERS CHARLES H M-1 3 01203052000000020 2.7 SANFORD GREENWAY COMMERCE CENTER R-1A GC, LDRSF 4 122030300019F0000 4.7 BAKER FARMS INC GC2 I S 01203052000000010- 3.8 LIBERTY VP SANFORD LLC R-1A GC, LDRSF 6 1220305080A000000- 7.1 :WHITE W GARNETT & PAULETTE C ' A-1 LDR 8 1720315AZ00000010 10.4 PHIFER VELMA R TRUSTEE A-1 SE 9 1720315AZ0000005A 2.0 NASAJPOUR AHMAD A-1 CITY 10 01203051200000190 4.6 ISLAMIC SOCIETY OF CENTRAL F!A GC2 GC, PSP 11 132Q30300045D0000 4.7 ' WILLIAMS RANDY A & A=L' SE TOTAL 65.5 Property Address SANFORD AVE S FRENCH AVE 427 CR 17-92 HWY N 427 (LAUREL) PINEWAY PALM WAY 2917 ORLANDObR 4258 S SANFORD AVE TIER i Properties TIER 2 Properties US 17-92 - '~°°° 2,°°° Feet 5. State Road 434 -Winter Springs Boulevard Summary Observations: a) This study area located along SR 434 (aka Winter Springs Boulevard), including properties within the municipal limits of Winter Springs and Oviedo, is another one of the more productive areas for future high-tech economic development, potentially including all of the target industry groups -but most notably life sciences support services, technical and research services, and digital media enterprises. b) Most of the identified properties are designated for higher intensity office, commercial, or interchange-related land uses, according to the future land use plans of the City of Winter Springs and the City of Oviedo. c) Within this district, RERC and Glatting Jackson have identified 10 potentially suitable properties totaling about 47 acres. Assuming some rezoning or land use changes, there might be significant attractive tracts that could also be considered over the longer term. d) Because of the district's access to SR 417, proximity to UCF, and its predominantly commercia{ character, it is highly probable that many technical and research services businesses and life sciences activities could locate here, in addition to conventional office and commercial activities. One high- tech incubator is already in operation in this district. e) While properties are limited in number, there are some larger parcels and the average parcel size is significant, allowing larger scale development. Some parcels are contiguous, which may allow for assemblage if desirable. f) This is an established and highly desirable area, and some relevant development has already begun. There will be strong and diverse pressures for conventional developments. To encourage digital media or life sciences to develop within this district, a sophisticated and aggressive program of incentives or other intervention may be required. Conventional business services and technical research activities might already find the area attractive. Parcel Matrix and Map The following matrix summarizes key characteristics of the available properties identified for this analysis. The Map Key number and Parcel ID are matched to the following map depicting specific parcels within the study area. B-8 AVAILABLE INTERCHANGE PROPERTIES, DECEMBER 2008 SR 434 Map Key Parcel ID Acreage Owner Zoning Future Land Use Property Address 1 3120315660000019H lia'CASSCELLS OLEDA D & CASSCEI A-10 Greenway Interchange District: [Winter Springs] 434 SR 2 31203156600000210 8:5 CASSCELLS MARGARET S'0 & A-l0 Greenway Interchange Districf [WinterSprings]_ 3 04213150106000000 2.7 SHAUTAN CRAIG A & A-1 CM [Oviedo] 434 SR 4 04213130000280000 3.8 STRAN GROUP LLC AG LDR [Oviedo], Greenway Interchange District [W 434 SR 5 0421315010A000000 ` 1.5 HARB BROTHERS INC AG CM [Oviedo] 419 CR- 6 31203156600000180 10.3 CASSCELLS MARGARET S O & A-10 LDR [Oviedo], Greenway Interchange District [W SPRING AVE' 7 2520315BA0000017B 5.8 ARIE JOHN B SUCC TRUSTEE A-1 LDR [Oviedo] 236 W 434 SR 8 25203156A0000020A 4.3 MINTER WILLIAM T & SUSAN J A-3 LDR [Oviedo] 9 2520315BA0000017C 2.6 FIRST CHAIR INV LLC A-1 - LDR, Cons [Oviedo] 250 W 434 SR 10 05213130000200000- 1.4 REFERENCE ONLY ' - A-10 Commercial/Split [Winter Springs] Vistawilla Ph. 2 TOTAL 46.9 TIER 1 Properties TIER 2 Properties Feet State Road 434 - ''°°° 2'°°° 6. Red Bug Lake Road Summary Observations: a) This study area located along Red Bug Lake Road and SR 426, including properties within the municipal limits of Oviedo, is one of the more productive and intriguing areas for future high-tech economic development, potentially including all of the target industry groups -but most notably life sciences support services, technical and research services, and digital media enterprises. b) Most of the identified properties are designated for professional office and commercial land uses, according to the future land use plans of the City of Oviedo. Oviedo has designated this as a "Gateway District" for economic development purposes. c) Within this district, RERC and Glatting Jackson have identified 13 potentially suitable properties totaling about 68 acres. Assuming some rezoning or land use changes, there might be significant attractive tracts that could also be considered over the longer term for higher intensity development. As well, there are under-utilized parcels and buildings associated with Oviedo Marketplace Mall that could offer long-term adaptive re-use potential. There are some larger parcels and the average parcel size is significant, allowing larger scale development. Some parcels are contiguous, which may allow for assemblage if desirable. d) Because of the district's access to SR 417, proximity to UCF, and its predominantly commercial character, it is highly probable that many technical and research services businesses and life sciences activities could locate here, in addition to conventional office and commercial activities. e) This is an established and highly desirable area and there will be strong and diverse pressures for conventional developments. To encourage digital media or life sciences to develop within this district, a sophisticated and aggressive program of incentives or other intervention may be required. Conventional business services and technical research activities might already find the area attractive. Parcel Matrix and Mag The following matrix summarizes key characteristics of the available properties identified for this analysis. The Map Key number and Parcel ID are matched to the following map depicting specific parcels within the study area. B-9 AVAILABLE INTERCHANGE PROPERTIES, DECEMBER 2008 RED BUG Map Key Parcel iD Acreage Owner 'Zoning Future Land Use Property Address 1 16213130003200000 S.2 OVlEDO LUXURY, LIVING LTD Al OFF;[Oviedo] __... 454 SUGAR MILL RD 2 1621315CA0000119A 6.2 OVIEDO LUXURY LIVING LTD PUD OFF [Oviedo] OVIEDO MARKETPLACE BLVD 3 17213151000000010 7.0 ADVENTIST HEALTH SYSTEM/ PD 'CONS, PUb [Oviedo] OVIEDO MARKETPLACE. BLVD 4 1621315CA00000020 5',8 ..CENTRAL FLA REGIONAL HOSP INC A-1 CM [Oviedo] 1265 LIGHTERED KNOT CREEK TRL 5 1621315CA0000120C 6.7 BLACKWOOD BERNARD 0 & SUZANNE PUD IN [Oviedo] 6 1621315CA0000001A 8.4 CENTRALfLA REGIONAL HOSP INC A-1 CM [Oviedo] 1697 W BROADWAY ST 7 16213130003280000 4.2 OVIEDO LUXURY LIVING LTD A-1 OFF [Oviedo] 1150 SUGAR MILL RD 8 1521315CA0000118A 3.9 CRESCENDO RESOURCE GROUP LLC PUD OFF [Oviedo) 1151 W SUGAR MILL RD 9 16213I3017032C00Q0 '3.2 'OVIEDO LUXURY'LIVING LTD A-1 ' ' OFF [Oviedo] - 481 SUGAR MILL RD 10 16213I5CA0000119B ' ' '1.5 CRESCENDO RESOURCE GROUP LLC 'PUD 'CM (Oviedo] 11 16213130Q032A0000 3.0 CLONiNGER EVELYN W TRUSTEE A-1 OFF (Oviedo] SUGAR MILL RD 12 1621315CA0000021A 2.5 CENTRAL FLA REGIONAL HOSP INC A-1 IND [County], CM, [Oviedo) 13 16213130003400000 10.6 TURNERJVIARK G & GRAY JOHN H A-1 CM [Oviedo] MITCHEL HAMMOCK RD- TOTAL 68.3 TIER 1 Properties TIER 2 Properties Red Bug Lake Road - 75° ,,5°° Feet 7. State Road 426 - Aloma Boulevard Summary Observations: a) The study area centered on State Road 426 (aka Aloma Boulevard) is a moderately productive area for future economic development, potentially including all of the target industry groups -but most notably life sciences support services, technical and research services, and business services. b) Almost all of the identified properties are designated for higher intensity office, commercial, or residential land uses, according to the future land use plans of Seminole County. c) Within this district, RERC and Glatting Jackson have identified 10 suitable properties totaling about 35 acres. d) Because of the properties' convenient access to SR 417 and UCF, it is highly probable that many technical and research services businesses could locate here, in addition to conventional office and limited commercial activities. e) While properties are limited in number and relatively small, there are some larger parcels allowing larger scale development. Some parcels are contiguous, which may allow for assemblage if desirable. f) This is an established and highly developed area. There will be strong and diverse pressures for conventional developments. To encourage digital media or life sciences to develop within this district, a sophisticated and aggressive program of incentives or other intervention may be required. Parcel Matrix and Map The following matrix summarizes key characteristics of the available properties identified for this analysis. The Map Key number and Parcel ID are matched to the following map depicting specific parcels within the study area. B-10 AVAILABLE INTERCHANGE PROPERTIES, DECEMBER 2008 SR 426 Key Map Parcel ID Acreage Owner Zoning Future Land Use Property Address 1 31213151700000020,' 1.1 A'-1 HIPTR 5409 DEEP LAKF RD 2 31213130002300000 __ _ 1.8 CLAYTON BRANTLY W TRUSTEE A-1 HIPTR 3 3121315170000003Q,' _ ', 1.2 __ A-1 HIPTR 4 31213130000700000 8.5 STANKO SUSAN C TRUSTEE A-1 COM 5 31213130000200000 5.7 CLARK DANIEL R & CATHY A A-i OFF 2625 WRIGHTS (& 2655) RD 6 312131300007A0000 6.5 STANKO ANDREW TRUSTEE A-1 COM W 426 SR 7 31213150100000050 2.6 ALOMA JANCY ANIMAL HOSP INC A-1 LDR 3390 PET COUNTRY CT 8 3121315010000005A '3.7 'ALOMA JANCY ANIMAL HOSP INC - A-1 -'LDR 9 31213150100000046 2.6 ALOMA JANCY ANIMAL HOSP INC A-1 LDR 10 3121315010000004A 1.5 ALOMA7ANCY ANIMAL' HOSP INC A-1 LDR TOTAL 35.3 TIER 1 Properties TIER 2 Properties State Road 426 - ~ Soo x.600 Feet 8. Lake Mary Boulevard Extension Summary Observations: a) The study area located along the Lake Mary Boulevard extension from SR 427 northeast to the St. John's River, including portions of the City of Sanford and unincorporated Seminole County, was added to the SeminoleWay corridor because it is the laroest and most productive of the areas for future economic development, potentially including the target industry groups of life sciences support services, technical and research services, and digital media enterprises. b) The identified properties are designated for a variety of higher intensity office, commercial, or industrial land uses, according to the future land use plans of Seminole County and the City of Sanford. Much of the acreage is designated as "airport support activities." c) Within this district, RERC and Glatting Jackson have identified 219 potentially suitable properties totaling about 1,450 acres, most of which is effectively vacant. d) Because of the district's access to SR 417, SR 46, and rail service, and its predominantly undeveloped industrial character, it is highly probable that many technical and research services businesses and life sciences support enterprises could locate here, in addition to conventional light industrial and commercial activities. e) While properties are numerous and relatively small, there are some larger parcels, allowing larger scale development. Many parcels are contiguous, which may allow for assemblage into large development tracts, if desirable. f) This is a new and largely undeveloped area. There will be emerging and diverse pressures for conventional developments. To encourage digital media or life sciences to develop within this district, a sophisticated and aggressive program of incentives or other intervention may be required. Land availability at lower costs may be the most effective marketing asset in the near term. Parcel Matrix and Map The following matrix summarizes key characteristics of the available properties identified for this analysis. The Map Key number and Parcel ID are matched to the following map depicting specific parcels within the study area. B-11 AVAILABLE PROPERTIES, DECEMBER 2008 LAKE MARY BOULEVARD EXTENSION Key Map 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 Parcel ID Acreage Owner Zoning Future Land Use Property Address 07203130000300000 8.3 EVERHAR7 DONNA LTRUST _ R-IAA CbTt; LDR5F [Sanford] 845 ONORA ST 03203130001100000 9.1 SCHMIDT KHALIL & A-1 HIPAP +0320315AY00000390 9.1 SANFORD ACQUISITIONS GROUP LLC AG AIC [Sanford] 3566 BEARDALLAVE 0320315AY000030A0 8.5 LAYER WILLIAM P & LUCY P & A-1 IND CAMERON AVE :042031300006A0000 5.5 FLA POWER & LIGHT CO A-1 AIC [Sanford], IND [County] 3881E 46 SR 03203130001000000 10.5 SCHMIDT KHALIL & A-1 HIPAP 2841 CAMERON AVE :04203130001300000 17.6 DELPHINI INDUSTRIAL PARK AT A-1 AIC [Sanford] 2511 BEARDALL AVE 0320315AY000031A0 9.0 SCHMIDT KHALIL & A-1 HIPAP MOORE STATION RD :33193130012400000 9.3 LAY SOPHAN & C-3 COM, IND [County], I [Sanford] BEARDALL AVE 0320315AY00000370 17.3 SANFORD ACRES LLC A-1 HIPAP SIPES AVE 331931300129A0000 13.1 STENSTROM CAROLYN P SUCC TR A-1 PD CAMERON AVE: 082Q3130003900000 20.6 MC CASKILL SUSAN T & HARMON A-1 AIC [Sanford], IND [County] KENTUCKY OFF SIPES 33193130000400000 17.3 STENSTROM CAROLYN P SUCC TR 0 PD N CAMERON AVE 33193130013200000 34.7 FLORIDA EXTRUDERS INTER- A-1 I [Sanford] 2305 BEARDALL AVE 28193130001500000 8.0 MERIWETHERWILLIAM& A-i SE ECELERYAVE 07203130000100000. 11.7 EVERHARTDONNALTRUSTEE R-IAA LDR 28193130001700000 16.1 MERIWETHER WILLIAM & A-1 SE E CELERY AVE D320315AY000029A0 8.7 KING WALTER N A-1 IND CAMERON AVE 0320315010A000010` 8.1 TAKVORIAN ANN A-1 IND RICHMOND AVE 0320315AY000014A1 40.5 INTERNATIONAL BUSINESS GROUP A-1 AIC [Sanford) 2780`CAMERON AVE 08203130003800000 25.1 MASAI HOLDINGStLC A-1 AIC [Sanford], IND [County] SIPES AVE 03203130000200000 8.7 KING WALTER N A-1 IND E 46 SR 33193130001700000 16.5 MERIWETHER FARMS INC M-1 IND, SE CELERY AVE 33193130000480000 9.2 STENSTROM CAROLYN P SUCC TR PUD PD N CAMERON AVE 0320315010E00004A 9.5 KING WALTER N A-1 CITY E LAKE MARY BLVD 0320315AY0000055C 10.1 A-1 HIPAP 0320315AY00000650 9.3 DP 8c DP INC A-1 HIPAP BEARDALLAVE 0320315AY000022A0 9.5 LAKEVICTORIA INV GROUP LLC RI1 AIC [Sanford] 2690 CAMERON AVE 0320315AY00000850 19.5. TAKVORIAN ANN A-1 SE PINE ST A320315AY00000880 5:1 HERBST ALAN H A-1 SE ' KENTUCKY 8c BEARDALL 33193130012900000 8.3 STENSTROM CAROLYN P SUCCTR PUD PD CAMERON AVE 331931300004A0000 45.8 STENSTROM CAROLYN P SUCC TR PUD PD N CAMERON AVE 08203130003700000 6.2 SAWYERS W BLAKE & JOYCE TR A-1 IND 34193130000300000 6.6 TAKVORIAN ANN A-1 COM E 46 SR 0720315LR00000070 2.1 SAFARI INV LLC M12 I 215 TRADEPORT DR 0320315AY000020A1 ''4.9 ",CRAPPS'WILLIAM H !' A-1 CITY CAMERONAVE- 0720315LR00000460 ' 1.8 'SAFARI INV LLC '! A-1 I 200 SILVERVISTA BLVD 0320315AY0000040B 3.9 SANFORD ACQUISITIONS GROUP LLC AG AIC [Sanford] BEARDALL AVE 331931300004D0000 4.3 STENSTROM CAROLYN P SUCC TR M-1 PD N CAMERON AVE 33193130001100000 2.2 HOOPS ALLEN R& BRENDA L A-1 SE 3991 CELERY AVE AVAILABLE PROPERTIES, DECEMBER 2008 LAKE MARY BOULEVARD EXTENSION Key Map Parcel ID Acreage Owner Zoning Future Land Use Property Address 41 0720315LR00000430 "-1.7 'SAFARIiNV LLC A-1 I 240TRADEPORT DR 42 -0720315LR00D00370 !! ' 2.0 !SAFARI INV LLC A-1 I " 295 TRADEPORT DR 43 D82031300037A0000 2.2 A-1 IND LAKE MARY BLVD 44 '0720315LR00000180 2.3 SAFARI INV LLC M12 I 335 PARK NATIONAL DR 45 0720315LR00000300 2.5 SAFARI INV LLC A-1 I PARK NATIONAL DR 46 0720315LR00000420 2.3 SAFARI INV LLC A-1 I 250 TRADEPORT DR 47 `0720315LR00000350 ! 1,8 !SAFARI'INV LLC 'A-1 I ' 275 TRADESPORT DR 48 0720315LR00000270 ''1.7 SAFARI INV LLC A-1 I ''350 CARGO CT 49 0720315LR00000100 -2.0 :SAFARI INV LLC M12 I ', -245TRADEP0RTDR 50 0320315AY0000056A 4.6 DP & DP INC A-1 HIPAP 51 0720315LR00000450 - '!1.8 ' SAFARI INV LLC '' A-1 1 ' 300 51LVERVISTA BLVD 52 D720315LR00000140 1.6 SAFARI INV LLC M12 I 285 PARK NATIONAL DR 53 0720315LR00000130 '1.7 SAFF,RI INV LLC M12 1 275 NATIONAL PARK DR 54 0720315LR00000390 2.1 SAFARI INV LLC A-1 I 280 TRADEPORT DR 55 08203130000400000 '1.0 'RAMNARINE'BICKHAM & A-1 SE, AIC OHIO AVE 56 0320315AY00000400 4.6 SANFORD ACQUISITIONS GROUP LLC AG AIC [Sanford) BEARDALI AVE 57 0720315LR00000190 -1.8 SAFARI INV LLC M12 I 345 PARK NATIONAL DR 58 0720315LR00000080 2.0 ' SAFARIINV LLG M12 1 225 TRADESPORT DR 59 331931300004F0000 4.6 STENSTROM CAROLYN P SUCCTR PUD PD 60 D720315LR00000120 1.9 SAFARI INV LLC M12 I 265TRADEPORT DR 61 0720315LR00000280 1.7 SAFARI INV LLC A-1 I 340 CARGO CT 62 0720315LR00000170 2.1 SAFARI INV LLC M12 I 325 PARK NATIONAL DR 63 '03203130000300000 1.5 AUSAFC LLC A-1 ' IND E 46 5R 64 0720315LR00000230 2A SAFARI INV LLC A-1 I 350 PARK NATIONAL DR 65 1720315AZ0000043A 4.6 GARRISON DANIEL L & JO ANN A-1 5E PINEWAY 66 0320315AY00000330 3.9 HUNTER OLLIE F A-1 AIC, HIPAP MARQUETTE AVE 67 03203130000600000 4.3 SCOTT'S LANDING LLC A-1 IND CAMERON AVE 68 0720315LR00000260 '- -! 1.8 SAFARI INV LLC!' A'-1 I 355'CARGO CT 69 0320315AY0000057B 3.1 DP & DP INC A-1 HIPAP BEARDALL AVE 70 0720315LR00000410 1.8 SAFARI INV LLC A-1 PSP, 1 260 TRADEPORT DR 71 0320315AY0000034B 4.9 PERSAUD DHAN & CHAND A-1 AIC, HIPAP 3539 MARQUETTE AVE 72 3319315:1000000010 -- 1.8 STENSTROM CAROLYN'P SUCC TR ! A-1 PD '! E 46 5R' 73 33193130013500000 1.8 CORLEY KATHLEEN N A-1 COM E 46 SR 74 D720315LR00000400 2.1 SAFARI INV LLC A-1 I 270 TRADEPORT DR 75 0720315LR00000160 2.7 SAFARI INV LLC M12 I 315 PARK NATIONAL DR __ 76 0720315LR00000250 1.7 SAFARI INV LLC '' A-1 I ' ' 345 CARGO CT 77 D320315010E000040 5.0 LAYER WILLIAM P & LUCY P & A-1 CITY LAKE MARY BLVD 78 0720315LR00000360 2.1 SAFARI INV LLC A-i LDRSF, I 285 TRADEPORT DR 79 072p315LR00000290 1.7 SAFARI lNV lLC _ ' A-1 I 330 CARGO Ci~ 80 0720315LR00000200 2.4 SAFARI INV LLC MI2 I 355 PARK NATIONAL DR AVAILABLE PROPERTIES, DECEMBER 2008 LAKE MARY BOULEVARD EXTENSION Key Map Parcel ID Acreage Owner Zoning Future Land Use Property Address 81 34193130000380000 1.7 ' DEEN THAKOOR & MARTHA E A-1 COM - E 46 SR __ 82 0720315LR00000090 ' 1.8 'SAFARI INV LLC M12 I 235TRADESPORT DR - 83 0720315LR00000110 !1.8 'SAFARI'INV LLC M12 I ' 255 TRADEPORT DR 84 33193130012300000 1.7 NEWSON SANDRA LTRUSTEE C-2 COM 3640E 46 SR 85 0720315LR00000440 1.7 ]SAFARI INV LLC ', _ A-1 I _ 230TRADEPORT,DR 86 07203130000800000 2.1 EVERHART DONNA L TRUST R-IAA LDR 87 0720315LR00000150 S.6 SAFARI-INV LLC M12 I 295 PARK NATIONAL bR 88 341931300003A0000 4.4 JETT CHARLES L & MARY E A-1 PD 415 5R 89 0320315AY0000033A '' 1.1 'ALBERGA KAREN L' ,, A-1 HIPAP 3645 MARQUETTE'AVE 90 1720315AZ00000360„ 18.8 'SERENGETI PROPERTIES LLC A-1 SE [Sanford] 38405 BRISSONAVE- 91 0320315AY000023A0 29.5 SANFORD ARPRT AUTH/CITY SANFRD RI1 AIC [Sanford] SCAMERON AVE 92 33193130005600000 9 a ' GEHR GARNER) JR& KATHLEEN A A-1 COM, PD HUGHEY ST' 93 0320315AY00000230 9.1 KIRCHHOFF WILLIAM E & AG AIC [Sanford] CAMERON AVE 94 0320315010E000030 9.9 WILEY TALMADGE K & CATHERINE E A-1 HIPAP 2790'RICHMOND AVE 95 032031300008E0000 6.1 BROOKSJOE W A-1 IND CANYON PT 96 .33193130002200000 ` ' 17:2 POULSEN;CARL P - M-1 SE ' _: 3741 EELERY AVE 97 04203130004400000 5.2 SAHR LLC A-1 HIPAP 98 33193130000100000 13.7 ANDRES!CHRISTA L TRUSTEE A-1 SE 4001 CELERY AVE 99 0320315AY00000310 17.7 KIRCHHOFF WILLIAM E 8c AG AIC [Sanford] 3465 BEARDALLAVE 100 0320315010D000070' S.9 GROTEHENRYJ&1ACQUELYN'S A-1 HIPAP 2685'RICHMONCIAVE 101 0320315AY00000210 18.8 KIRCHHOFF WILLIAM E & AG AIC [Sanford] CAMERON AVE 102 1720315AZ00000330 12.6. SERENGETI PROPERTIES LLC A-1 SE [Sanford] PINEWAY 103 0320315AY00000840 9.2 FLAVIN JAMES P & ANN A'' A-1 SE 3755 BEARDALLAVE 104 1720315AZ00000390 -5.1 SERENGETI PROPERTIES LLC A-1 SE [Sanford]. PINEWAY 105 08203130003300000 5.5 ' HOODA NAUSHIK & NEELA A-1 SE, IND, I [Sanford]` 2247 MARQUETTE AVE 106 08203130003600000 9.5 SANFORD ARPRT AUTH/CITY SANFRD A-1 AIC [Sanford] 2355 MARQUETTE AVE 107 0320315AY00000290 25.0 KIRCHHOFF WILLIAM E & A-1 AIC [Sanford) 3430 CAMERON AVE 108 03203150100000040 ' S.0 'GUTHRIE MICHAEL M & LINDA S- =A-1 CITY 4430 CANYON PT 109 0320315AY00000410 9.2 STRATEGICACQUISTIONSCORP AG AIC [Sanford] BEARDALLAVE 110 33193130000500000 9.3 ]BTT,HOLDINGSINC M-1 INb 1980N,CAMERON AVE 111 33193130001580000 14.1 SEMINOLE2INV LLC PUD PD BEARDALLAVE 112 33193130002500000 ' 9.5 MERIWETHER FARMS INC A-1 SE '! 3461 CELERY AVE 113 1720315AZ0000034B 10.1 SERENGETI PROPERTIES LLC A-1 SE [Sanford] PINE WAY 114 1720315AZ00000410'' " 9.8 ','WITTMER MICHAELO & MARYLIN R _ ' A-1 SE ' ' ' 1805'PINEWAYbR 115 0320315AY00000530 18.6 SANFORD CITY OF A-1 AIC, PSP [Sanford] 3540 CAMERON AVE 116 0320315AY00000190 18.1 KIRCHHOFF WILLIAM E & AG AIC [Sanford] 117 `08203130002900000 42.1 BENHAM BENJAMIN 0 TRUSTEE A-1 SE, I [Sanford] 2800 E LAKE MARY BLVD 118 16203130000200000. _ 7.1 ' ' AbAMS JOSEPH 1 & lUANITA V C0 A=1 SE 3739 SIPES AVE 119 17203150100000030 16.5 BRISSON iNV LLC A-1 SE [Sanford] 120 341931300001A0000 15.4 WILKE 1EAN E & WILKE JOAN M & A-1 SE AVAILABLE PROPERTIES, DECEMBER 2008 LAKE MARY BOULEVARD EXTENSION Key Map Parcel ID Acreage Owner Zoning Future Land Use Property Address 121 03203130000900000 10.2 STRATEGIC ACQUISITIONS CORP A-1 CITY' 122 03203150100000050 `'9.0 THOMAS RAY E & ETHEL M A-1 HIPAP 2690 RICHMOND AVE 123 08203130003680000 5.4 SANFORD ARPRT AUTH/CITY SANFRD A-1 AIC [Sanford] MARQUETTE AVE. 124 1720315AZ0000035A 9.4 SERENGETI PROPERTIES LLC, A-1 SE'[Sanford] 125 0320315AY000028A0:, 9.4 "STRATEGICACQUISTIONSCORP A-1 IND 126 0320315AY0000059A ` 5.0 ALLEN HENRY:& A-1 HIPAP 127 032031300D1300000 5.9 TAYLOR SAM G TRUSTEE A-1 HIPAP 2850RICHMOND'AVE 128 33193130002300000 6.2 RUSSELLJOHN F & JIMYE K M-1 SE, PD CELERY AVE 129 0320315AY0000064A 6.7 TAKVORIAN ANN A-1 HIPAP 3600 BEARDAIL AVE 130 27193150100000040 16.5 MERIWETHER WILLIAM & R-1AA LDR, SE 131 0320315AY00000580 12.6 TAKVORIANANN A-1 HIPAP PINE ST 132 1720315AZ00000420 8.5 REYNOLDS ROBERT C & CHERYL A-1 SE 2055 PINEWAY 133 A320315AY00000590 10.8 ALLEN HENRY& A-1 HIPAP SIPES AVE 134 17203150100000010 14.1 BRISSON INV LLC A-1 SE [Sanford] 135 04203130000900000 14.6 BYERS FAMILY LTD A-1 AIC"[Sanford], IND [County].. W 46"SR 136 0320315AY00000870 ' 7.3 TAKVORIAN STHEODORE & ANN A-1 SE' 137 17203150100000040 16.3. BRISSON INV LLC A-1 SE [Sanford] 138 0320315AY0000090D 8.9 1AFFER SHAKIL A A-1 SE JESSUP AVE 139 33193130001300000 '13.4 'UNIROYALCHEMICALCOMPANY:INC M-1 SE '' BEARDALL/CELERY' 140 17203150100000080 13.3 BRISSON INV LLC A-1 SE [Sanford] BRISSON AVE 141 !03203130000500000 ''S.9 BROOKS LAMAR _ A-1 ',IND -2541 CAMERON AVE 143 16203130000100000 3.7 SEMINOLE B C C A-1 PUBC 144 102031300004B0000 4.9 SANFORD ARPRT AUTH/CITY SANFRD A-1 AIC [Sanford] 3145 CAMERON AVE 145 162031300DD400000 '-3.1 ' - DENNEYBETTYL A-1 SE 3845 SIPES AVE 146 0320315AY0000089A 4.4 POFFENBERGER HENRY L & NELLIE A'-1 SE_ 3821 BEARDALLAVE 147 042031300050D0000 2.1 AINSWORTH W D A-1 HIPAP 4026 HONEY BEE PT 148 042031300033A0000 4.7 ' STEELE RICHARD'S & KIM R - M-1 'CITY 2764 BEARDALLAVE 149 0320315AY0000035A 4.4 FONSECA PABLO & LEONOR A-1 AIC [Sanford], HIPAP [County] MARQUETTE 150 0320315AY0000067F 1.8 YOUNG THELMA A-1 HIPAP KENTUCKY ST 151 04203130004900000 2.3 MC CONICAL BRUCE D A-1 HIPAP MOORES STATION RD 152 0320315AY00000890' 4.9 K1NG'KEVIN P " - A-1 SE 3791 BEARDALLAVE 154 341931300002F0000 1,9 KB HOME ORLANDO LLC - A-1 PD 415 155 0320315AY000027A0 4.6 FERTAKIS INTERNATIONAL CONSTR A-1 -IND 156 03203130001580000 2.0 SANFORD ARPRT AUTH/CITY SANFRD RIl AIC [Sanford] MOORESSTATION RD` 157 .08203150100000130 2.1 FASCIANA ERNEST G A-1 JND 3720 LAURA AVE 158 0320315AY00000560 3.1 FORNASIER ALFREDO B & A-1 HIPAP BEARDALLAVE' 159 :09203150101000010. 1.1' GALLARDO MIGUEL& MIRIAM _. _... A-1 -HIPAP PINE ST 160 0720315010000001B 3.4 SANFORD ARPRT AUTH/CITY SANFRD R-SAA AIC [Sanford] 161 331931300015A0000 4.9 ' JBTT HOLDINGS INC M-1 IND HUGHEY ST 162 07203150100000010 2.0 R-IAA AIC [Sanford] #N/A AVAILABLE PROPERTIES, DECEMBER 2008 LAKE MARY BOULEVARD EXTENSION Key Map Parcel ID Acreage Owner Zoning Future Land Use Property Address __. __ 163 0320315AY00000550 -1.1 HARMAN`.DONAED G & GEORGANN A-1 HIPAP 3257 E LAKE MARY BLVD - 164 082031300032A0000 2.4 HUGHEY CAROLYN J A-1 SE, IND [Sanford] KENTUCKY EXT ST 165 0320315AY000026A2 4.7 FERTAKIS INTERNATIONAL CONSTR A-1 IND 166 33193130013300000 4.1 ACME PROPERTIES INC' A-1 IND'' 3850,E 46 SR 167 0320315AY00000640' ' 1.3 TAKVORIAN ANN A-1 HIPAP KENTUCKY ST' 168 032031300008F0000' 1.9 HEWITT OLSON ASSET RECOVERY A•1 IND 169 0320315AY0000042A 3.8 STAPPE ELGAN A II A-1 AIC [Sanford], HIPAP [County] E LAKE MARY BLVD 170 0320315AY00000368 2.4 FRANCIS LLOYD C & PATRICIA E A-1 AIC [Sanford]. 2901 MARQUETTE AVE 171 0320315AY000OOOSE 2.3 POLOSKI STANLEY A & BELINDA G A-1 AIC [SanfordJ, HIPAP [County] S CAMERON AVE 172 0320315AY00000100, 1.6 SAN FORD ARPRT AUTH/CfTYSANFRD- A-1 CITY _ 174 0320315010E000060 4.7 LAYER WILLIAM P & LUCY P & A-1 HIPAP [Sanford] E LAKE MARY BLVD 175 07203150305000010 1.9 SANFORD ARPRT AUTH/CITY SANFRD R-IAA AIC [Sanford] 176 03203130000400000 3.5 KING WALTER N A-1 IND 2531 CAMERON AVE 178 042031300049A0000 2.2 A-1 HIPAP 179 1720315AZ0000041A- 4.0 JOHNSON RICHARD E JR & A-1 SE INGRAHAM AVE'. 180 17203130000480000. 2.9 COLBERT WILLIAM L A-1 SE 181 0320315AY000018AT 4:8 ' CORLEY CHARLOTTE R - A-1 CITY 2820 S CAMERON AVE:. 184 032031300012A0000 2.6 TAKVORIAN ANN A-1 HIPAP 185 0320315AY0000067C 1.5 WYNN ALEX JR A-1 HIPAP JESSUP AVE 186 08203150100000100 2.0 WARREN PATRICIA & JOHN E JR A-1 IND 3650 LAURA AVE 187 0320315AY0000062A 4.6 SIPES DEV LLC A-1 HIPAP KENTUCKY AVE 188 07203150303000010 1.9 SANFORD ARPRT AUTH/CITY SANFRD R-IAA AIC [Sanford] 189 0320315AY00000280 2.4 KIRCHHOFF WILLIAM E & AG AIC [Sanford] 190 0720315020A000010 3.0 SANFORD ARPRT AUTH/CITY SANFRD R-IAA AIC [Sanford] 1751 E AIRPORT BLVD 191 08203130003500D00 1.3- SANFORbARPRTAUTH/CITY SANFRD. A-1 AIC [Sanford] MARQUETTE AVE 192 1720315AZ0000044A 4.5 BEST TED A & LAURA L A-1 SE 2425 PINEWAY 193 0320315AY00000360 2.5 RIVERA JOSE A & A-1 HIPAP 2927 SIPES AVE 194 0320315AY0000087B 1.6 MURDAUGH JAMES T & SARA A-1 SE 195 08203150100000110. 2.3 PARSONS JAMES C JR & THERESA G A-1 IND 3686 LAURA AVE 196 331931300123A0000 2.0 SEMINOLE COUNTY:SCHOOL BOARD G2 COM 197 33193130000700000 - 2.9 DESIN GEORGE W & DESIN A-1 SE N CAMERON AVE 198 08203150100000150 2.2 'ROGERS TERRY L & CHRISTINE C A-1 'IND._ 3740 LAURA AVE 199 33193151100000000 2.4 C-3 CITY #N/A 200 1720315AZD000033A 1.7 SERENGETI PROPERTIES LLC A-1 SE [Sanford] PINE WAY 201 06203130000100020 4.9 PUD AIC [Sanford] AIRPORT 202 03203150100000080 4.9 BROOKS JOE W A-1 CITY 203 0320315AY00000430 3.3 KIRCHHOFF WILLIAM E & COLEMAN AG AIC [Sanford] #N/A 204 `0320315AY0000061A 3.9 SIPES DEV LLC A-1 HIPAP KENTUCKY AVE 205 08203130002600000 ', 3.1 ' 'BRADEN'KIP D & CYNTHIA L _ A-1 I [Sanford] 2005 MARQUETTE AVE, _ _ _ 206 10203130000100000 3.6 SANFORD ARPRT AUTH/CITY SANFRD A-1 AIC{Sanford] MOORES STATION RD AVAILABLE PROPERTIES, DECEMBER 2008 LAKE MARY BOULEVARD EXTENSION Key Map Parcel ID Acreage Owner 207 04203130004800000 4.7 SANFORD ARPRT RUTH/CITY SANFRD 208 0320315AY00000620 -1.6 SIPES DEV LLC 210 0320315AY000032A1 4.4 HILLJAMES W & ELIZABETH W 211 042031300044A0000 3.6 SAHR LLC 212 06203130000104530 2:1 SANFORD ARPRT RUTH/CITY SANFRD 213 0320315AY000026A0 ' 3.9 %URLEY NOAL W'8c BETH,M 214 08203130002200000 2.8 ABDULHUSSEIN FAMILY LP 215 0320315010E000020 4.7 SCHAMP B C 216 0320315AY000033A0 2.2 WINTERSTEEN GLORIA IDA M 217 0320315AY0000036A 4.7 DOAN KATHERINE 218 0320315010B00005C 1.0 FLANNAGINALBERTJ 219 33193130012000000 2.1 ALLEN CHARLENE & ROSIER EULA 221 0320315AY0000033B 1.0 'HUNT KENNETH 222 182031300004AQ000 2.4 WISDOM AVERY P 223 0320315AY00000610 2.6 51PES DEV LLC 224 07203150301000010 2.2- SANFORD ARPRT AUTH/CITY SANFRD 226 33193130013400000 2.8 _GANAS GARY E & SANDRA W TRS 227 04203130003780000 3.7 SANFORD ARPRT AUTH/CITY SANFRD 229 0320315AY000027A1 3.9 FERTAKIS INTERNATIONAL Zoning Future Land Use Property Address A-1 AIC [Sanford] 3945 MOORES STATION (3949) RD A-1 HIPAP A-1 HIPAP 2885 BEARDALL AVE A-1 HIPAP 3918 MOORES STATION RD PUD AIC [Sanford) 2101 AIRPORT BLVD A-1 IND'' ' 26715 CAMERON AVE A-1 LDRSF, MDR10, I [Sanford] OHIO AVE A-1 HIPAP RICHMOND AVE A-1 AIC [Sanford), HIPAP [County] 3885 MOORE STATION RD A-1 HIPAP MARQUETTE (OFF)`AVE A-1 .. ...HIPAP C-3 LDR, COM [County], I [Sanford] BEARDALL AVE A-1 AIG[Sanford], HIPAP [County] ' 3510 BEARDALL AVE PUD 'LDRSF, I [Sanford] 1403 E PINEWAY A-1 HIPAP KENTUCKY AVE R-IAA AIC,[Sanford] A-1 COM, IND 4000E 46 5R' A-1 AIC [Sanford] 2900 BEARDALL AVE A-1 IND TOTAL 1,453.8 TIER 1 Properties TIER 2 Properties Lake Mary Blvd Extension - ~.°°° 4~0Feet Lake Mary Blvd Extension - 2,°°° 4~00eet SeminolANAY Phase 2 Report -December 2008 PART C: Marketing and Incentives -Findings and Recommendations Introduction In this document and the preceding Phase 1 report, RERC has: 1) presented a "Vision" for SeminoleWay; 2) identified through cluster analysis specific "target industry" sectors that hold promise for the corridor; 3) described facility and infrastructure requirements for those industries; 4) reviewed land use regulations and economic development policies within the county and partnering municipalities; and 5) performed initial "due diligence" on available land resources around SR 417 interchanges. From this point, it should be possible to structure an economic development strategy for advancing the SeminoleWay plan with policy-makers, land owners, developers, target industry representatives, and other stakeholders. White a solid and practical foundation of useful information has been compiled, there remains much to be done to complete and monitor a definitive plan of action for achieving the goals set forth at the beginning of this analysis: • A plan based on realistic economic opportunities for the Corridor, blending public resources, private business interests and education; • Attraction of businesses that add to the County's quality of life through stable investment, high-wage employment, environmentally friendly development, and support for the existing economic base; • Expansion of the County's non-residential ad valorem tax base and other revenue sources; • Provision of appropriate land use controls and comprehensive plan policies throughout the Corridor to allow desirable "high value/high wage" businesses to find a place in the county; • Land owners understanding the vision of SeminoleWay and "buying in;" • Certainty that infrastructure resources, policies, and incentives are aligned at county and municipal levels to enhance the chances of achieving the economic development vision. A plan without an "agenda for action" will remain simply interesting reading material and forever unrealized. In order to become manifest, a plan must supplement knowledge with directed actions that bring about "implementation." The SeminoleWay initiative is intended to be a long term effort to capitalize on apparent opportunities with forethought and strategic actions. In the following pages, RERC outlines a general "road map" of critical steps for moving forward and describes the "tool kit" of incentives which might be employed to attract and retain the target industries already identified as crucial to the county's economic future. C-1 SeminoleWay "Critical Path" to Implementation Moving forward from the completion of this Phase 2 analysis includes the most immediate next steps of achieving "buy-in" from political leadership and other stakeholders within the county and the partner municipalities; preparing and promoting information packages that demonstrate the dynamic elements and opportunities within the SeminoleWay corridor; and initiating conversations with potential businesses and developers about specific projects within the corridor. The outlook for successful implementation of the ideas already generated by this study as well as county staff and other stakeholders is certainly long term, but RERC suggests the following activities over the next 12 to 24 months to keep momentum in the planning concepts moving forward: C-2 1. Review the findings and recommendations of Phase 1 and Phase 2 of the analysis with the chamber's overview committee and the county's Board of Commissioners. 2. Review the findings and recommendations of the study with leadership of the three partner municipalities to insure open lines of communication and sharing of ideas. 3. Present the findings and recommendations with primary stakeholders within the SeminoleWay corridor, including at least potentially affected landowners and major businesses. 4. Make the findings and recommendations of the study available to the interested public by placing key findings or links on the county's web site. 5. Identify "target" industries and businesses within Seminole County (and elsewhere) that might have an interest in the findings of the studies and solicit their interest and feedback. 6. Share information regarding the availability and suitability of properties with targeted businesses and appropriate real estate developers who can provide the necessary facilities for targeted businesses. 7. Prepare concise marketing packages for use in soliciting or following up on investor interest within the SeminoleWay corridor. 8. Prepare proposals for significant land owners in the corridor that outline potential development concepts as well as county/city commitments (e.g., planning, financial, marketing) to further the vision and objectives of the SeminoleWay plan. 9. Set up a property monitoring system within the interchange focus areas to keep track of existing or new properties that are available and suitable for target industry development. 10. Follow up on specific economic development project opportunities identified in this study or through stakeholder reviews (e.g., commuter rail station areas, adaptive reuse of under-utilized properties and/or buildings, development in the airport influence zones, incubator projects, etc.). It is important to reiterate that most next steps associated with implementing the SeminoleWay Plan revolve around communication. More specifically, the challenge is to communicate the opportunities associated with the SeminoleWay corridor to all stakeholders. An inherent strength of the SeminoleWay Plan is that no concerted capital investment plan is needed to realize the vision, however, the ability to efficiently communicate and stick to the vision over the long term will be essential. C-3 Economic Development "Tool Kit" In the SeminoleWay Phase 1 report there is a brief summary of economic development resources supporting development within the SR 417 corridor, including public infrastructure, education, financial, and regulatory resources. Generally speaking, the infrastructure, education, and regulatory resources are major positive forces that are consistent with the findings of the target industry analysis and related facility requirements. In the following pages, RERC has briefly summarized and expanded list of state and local financial incentives, along with employee training programs and expedited permitting and project review procedures that are important to potential businesses and developers of high value, high wage industries in Seminole County. Qualified Target Industry Tax Refund The Qualified Target Industry (QTI) Tax Refund is a tool available to Florida communities to encourage quality job growth in targeted high value-added businesses. Pre-approved applicants who create jobs paying an average annual salary 115% of the county's average wage* may receive tax refunds of $3,000 per new job created. (Companies paying an average annual wage exceeding the area's average by 150 percent are eligible for $4,000 per job and if the average annual wage is in excess of 200 percent, $5,000 per new job created.) New or expanding businesses in selected targeted industries creating a minimum of 10 new jobs are eligible. The incentive must be proven a necessity for the company to locate or expand in Florida and there must be local support. Quick Response Training The Quick Response Training Program (QRT) provides grant funding for customized training to new or expanding businesses. Criteria to qualify is the same as QTI. Training can be provided by quality institutions such as universities, community colleges and technical centers or the company's own staff. Grants normally range from $600-$1,000 per new employee trained. Incumbent Worker Training The Incumbent Worker Training Program (IWT) provides grant funding for training. Florida businesses (excludes non-profits) needing to upgrade the skills of their existing full-time employees are eligible. Grants typically average $100- $400 per employee trained. Economic Development Transportation Fund (EDTF or Road Fund) The "road fund" is administered by the state in cooperation with an appropriate local government jurisdiction. Depending on the number of jobs being created, the grant program provides up to $2,000,000 for the construction or improvement of transportation infrastructure including roads, runways and traffic signals. Industrial Revenue Bonds/Industrial Development Bonds Industrial revenue bonds (IRBs) can be issued for the purpose of financing the costs of projects, which may include purchase of an existing industrial or manufacturing plant, construction of a new facility and/or purchases of new equipment. The minimum recommended amount for an IRB is $1.25 million and C-4 cannot exceed $10 million in most cases. The bonds can be issued for longer terms and at lower interest rates, usually 1 % below prime, and are tax exempt. Enterprise Bonds This tax exempt financing program is managed by an independent corporation that provides tax-exempt funds to small manufacturers for the purchase of land, buildings and capital equipment. Loans between $500,000 and $2.0 million are available. Borrowers are placed in a larger pooled bond issue that is then sold by the corporation. The pooling of loans helps defray the cost of issuance which might otherwise make it the process uneconomical. Sales Tax Exemptions: Electricity 8~ Steam -Exemptions from sales tax may include charges for electricity or steam used directly and exclusively at a fixed location to operate machinery and equipment used to manufacture (process, compound, or produce) items of tangible personal property for sale. Manufacturing ~ Processing Equipment - Qualifying machinery/equipment used to produce a product for sale is now exempt from sales tax. Seminole County Jobs Growth Incentive The Board of County Commissioners has established a Jobs Growth Incentive Trust Fund for both new and existing companies within targeted industry sectors. Seminole County will consider providing upfront cash incentive dollars for items such as training, permit fees, relocation costs, equipment purchases, building construction, and any other legitimate business expenses. Companies must satisfy selected job creation and wage criteria. Preference is given to new construction and to companies locating in targeted areas within the County. This program is typically used in lieu of QTI, for QTI-ineligible companies. Awards provide up to $2,000 per new job created. Impact Fee Deferral Program Allows a company to defer payment of impact fees (except school impact fees) from the date of issuance of building permit to issuance of a certificate of occupancy or time of power, whichever comes first. Fast Track Permitting Expedites the local permitting process for targeted industries. Citv Programs: City of Altamonte Springs -The City offers development incentives that reduce building and impact fees for qualified new construction projects within the Central Business District. To qualify, commercial and ofhce projects must be at least 100,000 square feet and mixed-use projects must be at least 150,000 square feet. Cities of Casselberry, Lake Mary, Longwood, Oviedo, Sanford, Winter Springs -These cities are willing to partner with Seminole C-5 County to create an incentive package for projects on a case-by-case basis. For additional information regarding business assistance in Seminole County, visit: www.businessinseminole.com or www.OrlandoEDC.com University of Central Florida Incubation System Business incubation systems are programs, services and facilities designed to support entrepreneurial start-ups and emerging businesses within specific business sectors. Incubation systems offer subsidized facilities space, management, contacts, business development services and other support services intended to assist local economic development efforts and foster the commercialization of academic and creative research. Beginning in 1999, the University of Central Florida has partnered with local communities, the Florida High Tech Corridor Council and the United States Department of Commerce's Economic Development Administration to create the UCF business and technology incubation system. The UCF incubation system directly administers five incubators over six facilities throughout Central Florida. In addition, The Seminole Business Technology Incubation Center in Sanford possesses UCF affiliation. The mission of the UCF incubation system is to "provide early stage companies with the enabling tools, training and infrastructure to create financially stable high growth enterprises." As of late 2007, the UCF incubation system has serviced and housed approximately 90 emerging companies, including approximately 50 current clients. To date, nearly 30 companies have successfully graduated the incubation program. According the National Business Incubation Association (NBIA), companies that participate in a university sponsored incubation program enjoy a graduation rate of approximately 70 to 80 percent, and 87 percent of all businesses that successfully complete the incubation program are still in business five years after graduation. UCF reports that its incubators graduates have created over 900 new jobs boasting more than 200 million in annual revenues. NBIA research has shown that for every two jobs directly created in an incubator an additional job is indirectly created within the community. Furthermore, approximately 85 percent of the successful incubator graduates choose to locate their company within the local community after graduation. Fiscally, incubators also represent sound community investment. The NBIA estimates that for every $1 of public operating subsidy provided by local communities, clients and graduates of incubator programs contribute approximately $30 in total local tax revenue. The UCF incubation system's facilities total more than 80,000 square feet of space throughout Central Florida. The following map illustrates their location. University of Central Florida Technology Incubator (UCFTI) The UCFTI was the original UCF incubation facility established in 1999. UCFTI consists of two facilities located within the UCF research park, an approximately 7,000 square C-6 foot facility on Research Parkway and a 40,000 square foot facility on Progress Drive. As of 2007, 23 companies have graduated from the UCFTI program and created more than 800 jobs. The UCFTI typically accommodates high technology oriented business requiring 1,000 to 7,000 square feet for 10-20 person operations. The UCFTI is a partnership between UCF, Orange County, the Florida High Tech Corridor Council and Metro Orlando Economic Development Commission. Photonics Incubator The UCF Photonics incubator is located on the UCF campus at the Center for Research and Education in Optics and Lasers (CREOL) facility. The incubator facility, which opened in 2005, possesses approximately 21,000 square feet of space. The partially occupied space currently hosts four client companies, with one company slated for graduation. The mission of the photonics incubator is to foster commercialization of the research and development underway at CREOL. The photonics incubator is a partnership between UCF, the City of Orlando, the Florida High Tech Corridor Council and the U.S. Department of Commerce Economic Development Administration. Orlando Business Development Center/District 2 Incubator Located near the Orlando Executive Airport on Colonial Drive, the Orlando Business Development Center is a partnership between the UCF, the City of Orlando and the Florida High Tech Corridor Council. The Business Development Center is focused primarily on servicing non high tech start ups. Phase one of the program includes 2,000 feet of office space which is currently fully leased to three incubator clients. Phase two, scheduled to open in late 2008, will possess an additional 4,000 feet of office space. The OBDC offers an entrepreneurship development program, business enhancement classes and onsite coaches and mentors. UCF Incubator -Seminole County/V1/inter Sprincas Opened in the summer of 2008, the Seminole County/Winter Springs incubator possesses approximately 10,000 square feet of space within the Vistawilla Office Center building on State Road 434 near the intersection of State Road 417. The incubation facility is predominantly leased to incubation clients and includes flex office space, conference rooms and shared reception rooms and office equipment. The incubator is a partnership between UCF, Seminole County, the City of Winter Springs and the Florida High Tech Corridor Council. Downtown Orlando Incubator The Downtown Orlando incubation facility is located on North Orange Avenue and offers approximately 4,000 square feet of office/incubation space to technology and high growth companies that can benefit from a downtown location. Seminole Business Technology Incubation Center (SBTIC) The SBTIC is a partnership between Seminole County, Seminole Community College and UCF. Though not directly administered by the UCF incubation program, SBTIC clients have available all business development services offered by UFCIP. The facility, C-7 which opened in Sanford in late 2000, possesses 10,500 square feet of incubator space currently serving 11 general technology incubator clients. The following map illustrates the locations of the UCF incubators in metropolitan Orlando in December 2007. Location of Metro Orlando Technology Incubators, December 2008 . _ x. ;~ ,; .~ Seminole Business Tech Incubation Center ~: c ~/ •voa " ". y-- ~\ ' , ~/ . -~ ~. ~ __-: ____.-- Q n ;.. Y `~. ford CELER7_,0. V__E_ _____'- ~' EA~~'~6fLYWA Sin - Tfmhid(7 _31..r ~ -. '.~-..~. iaa ,Laka }` '- ~_,- _ N S i Y d , i i' .. j .Lake EAary ~ ,o ~-. e ~ _ ~ i~ n M ,' n \ ~~ •\ !nkc - ~ ,~"~' 14 --1 CA Y fl 44 '~', ` ec~ } Lon~oa t5 ~1 ( ~'~ t emino _. YhnterSPnngs'c e County/ Winter Springs Incubator ~WekIW6 Sprlrtgs 'f .~ ___ Y____- _. ,R_ = ~., `4 l ~''~ ) iQ...~ i~f` 91G ~ r ~~ 3'S ~., ` ~ » Casselberry r k- ~ { • _. .r ~'v y~ ,~'. 928 ,r - ~' ~- N : ~ OvleOO ,: b 3 ,,- a ~ ~~~.;~~ .~O ,~ I an tiJ, i ~J.r1~ =`- ttamonte_SP,r~nHs _. • I,l'~Y` b \TS- g ~iFern Park ~... ,~' s •; it __ z ~, _ _ _ ,~ ~ ~` c ~ ~ i ~%: ~- ~ ' ~ .f ~ o' tl/ f li~~P~} D ,y Mallland iC ,~ ¢H B~-~" a `~`'~ "° ` at®w~a.~ . y ~ ~ `; Photonics Incubator } Goldenro0 ~-. _ C J ! ~_- j~ ------- -- ------- w. ,r ,~ I ,~ ;~ m. L ' UCF Technology Incubator ', ~~ 6z~ III ` Z _ _ g ,'-yp i~ %~ ~ Technology Incubator @ Research Park h~ Union Perk ? ~' p _ - a `" Downtown Orlando Incubator i ®620 ~ ~~ v ~b'c+. Ens.(. ~~~~ __ ¢ - Orlando Buslne~ ~~ Davelopment Center ~~' r ~ ~ t a ,_ ~e itI ~~ 828 l rJ I ; ........ ~~ ~ l~ C-8 ~ ~ 1 Phase 2 Report -December 2008 Facility Needs and Resource Inventory T ~ , ~ `RESEARCN C O N$ U L T A N T 5 Seminol~NAY Phase 2 Report -December 2008 TABLE OF CONTENTS INTRODUCTION: Conclusions and Recommendations from the Phase 1 Report I-1 The Vision for SeminoleWay I-1 Economic Futures Analysis I-2 PART A: Target Industry Facility and Infrastructure Requirements A-1 Introduction A-1 1. Life Sciences A-1 2. Digital Arts and Media A-4 3. Financial and Professional Services A-5 4. Research and Technical Services A-5 PART B: SeminoleWay Interchange Properties B-1 Introduction B-3 Final Property Inventory B-4 1. State Road 46 -Rinehart Road B-5 2. Sanford HIP Area B-6 3. County Road 46-A - 25th Street B-7 4. US Highway 17-92 B-8 5. State Road 434 -Winter Springs Boulevard B-9 6. Red Bug Lake Road B-10 7. State Road 426 - Aloma Boulevard B-11 8. Lake Mary Boulevard Extension PART C: Marketing and Incentives -Findings and Recommendations C-1 Introduction C-1 SeminoleWay "Critical Path" to Implementation C-2 Economic Development "Tool Kit" C-4 University of Central Florida Incubation System C-6 Seminol~NAY Phase 2 Report -December 2008 INTRODUCTION: Conclusions and Recommendations from the Phase 1 Report A brief summary of the findings and conclusions of this first phase evaluation of the SeminoleWay economic development vision is presented here in relation to the major topic areas addressed in that report. The April 2008 Industry and Facilities Analysis report and its appendices provide a more expansive presentation of the study's key findings. The Vision for SeminoleWay What Seminole County community and government leaders want are high value investments and high wage jobs in target industries sectors that will provide economic stability and growth for the next twenty years, or more. For many in local leadership roles, the vision is embodied not in the next successful office development or the next industrial park, which are easily predicted and clearly envisioned. Rather, they are wrestling with defining what will be relevant and needed in the county and the region when the next generation of leadership is in control and making decisions about what is best for its community. For many, it is necessary to understand what is emerging or only anticipated at this time. This analysis summarizes emerging economic trends, bringing industry clusters into focus and evaluating their suitability for the SeminoleWay corridor. The "Vision" held by community stakeholders includes many specific goals and objectives. Based on the results of this analysis to date, "Success" would be defined as: 1. A vision or plan based on realistic economic opportunities for the Corridor, blending public resources, private business interests and educa#ion; 2. Attraction of businesses that add to the County's quality of life through stable investment, high-wage employment, environmentally friendly development, and support for the existing economic base; 3. Expansion of the County's non-residential ad valorem tax base and other revenue sources; 4. Provision of appropriate land use controls and comprehensive plan policies throughout the Corridor to allow desirable "high value/high wage" (and maybe "high tech") businesses to find a place in the county; 5. Land owners understanding the vision of SeminoleWay and "buying in;" 6. Certainty that infrastructure resources, policies, and incentives are aligned at county and municipal levels to enhance the chances of achieving the economic development vision. I-1 Economic Futures Analysis Seminole County already possesses a significant amount of strategic economic development resources that can be readily applied to facilitate economic development within the SeminoleWay Corridor. The foundation for land use policy incentives has previously been laid with the existing HIP-TI targeted future industries land use category. More challenging is finding and promoting existing property resources that have the attributes required to attract and accommodate targeted industries within the county. Building upon the existing economic and industrial conditions in Seminole County and the greater Orlando MSA, the RERC team has identified four specific economic clusters with the greatest potential of fulfilling the SeminoleWay Corridor vision and fostering real long term economic growth in sustainable high wage, high impact industries. They are: 1. Life sciences including biotech and medical instrumentation 2. Digital media including modeling and simulation, film and broadcasting, themed entertainment and animation/game development 3. Financial services and information services 4. Technical and research services including civil and environmental engineering and so-called "green" architectural and engineering services These four clusters represent the most feasible and attractive future of the SeminoleWay Corridor given the context and identified constraints. Policy decisions concerning each cluster should be evaluated and tailored to exploit the resources identified within this report. Any limitations of or barriers to the successful cultivation of the SeminoleWay targeted industry clusters are likely to be spatially specific in nature. From a global perspective, the SeminoleWay Corridor is already well suited to attract and sustain each of the identified clusters without significant hindrance from transportation infrastructure, environmental constraints, suitable housing, educational resources, or land use and comprehensive planning policies. Accounting for environmental constraints and major accessibility issues, the State Road 417 Corridor between 1-4 and the Orange County line contains about 3,300 acres of land that was initially considered suitable for economic development efforts of the SeminoleWay vision. Of these ripe lands, the majority of acreage can be classified as underutilized rather than vacant. Approximately 500 acres within the two mile corridor and nearly 900 acres located within the Sanford Orlando Airport and HIP areas are functionally vacant. These constraints suggest that targeted industries and development within the corridor will necessarily be focused toward smaller individual developments and businesses that may not require a large tightly clustered campus and the associated large tracts of raw undeveloped land. To serve the most obvious target industries and businesses, large-scale land assemblage is probably not necessary. I-2 The suitable land within SeminoleWay is, however, clustered around readily accessible SR 417 interchanges. SR 417 itself provides ready and efficient access to both interstate 4, Sanford Orlando Intemational Airport and Orlando Intemational Airport. The future land use policies of Seminole County and the SeminoleWay partner municipalities currently governing the available lands around the SR 417 interchanges support the SeminoleWay vision and may require only minor adjustment on a spatially specific basis to fully accommodate the specific SeminoleWay targeted industries. The following Phase 2 report further examines suitable property resources at each of the eight SR 417 interchanges and presents specific parcels that appear ready and able to accommodate targeted industry development. I-3 State Road 417 -SeminoleWay Interchanges Sem~oI~NAY Phase 2 Report -December 2008 PART A: Target Industry Facility and Infrastructure Requirements Introduction As part of the Phase 2 effort regarding the SeminoleWay corridor economic development analysis, RERC has researched the character of locations and physical facilities required to accommodate the specific target industries identified in the Phase 1 analysis. For the most part, these facility and site requirements are consistent with the suburban office and light industrial character found within Seminole County and the municipalities located along the State Road 417 corridor and proximate to its interchanges. In the following pages, each target industry and its facility requirements are briefly summarized. 1. Life Sciences The Life Sciences industry can be subdivided into four categories: Discovery, Education, Treatment and Commerce. The Discovery sub sector includes life science operations and facilities that are dedicated toward life sciences research and design. This sub sector is typically dominated by large institutional users such as Nemours, Scripps and Torrey Pines. Many research facilities are directly associated with large universities, medical and pharmacy schools. Research Institution facilities include academic research labs, vivariums, healthcare labs, and health science teaching labs. While the research laboratory facilities of larger facilities can exceed 200,000 square feet, the Discovery category also includes smaller companies that may require significantly less (2,000 - 50,000 square feet) independent laboratory space as well as start ups and emerging companies that benefit from the presence of shared, potentially subsidized wet lab space. There is a significant amount of overlap between the Discovery and Education life science sub sectors. Many research facilities and laboratories are partnerships between private institutions and public university systems. Education sector facilities include teaching labs at medical schools, nursing schools and community colleges and vary in size and complexity based upon the educational focus. For instance, the requirements of a nursing teaching laboratory will differ dramatically from an academic pharmaceutical research facility. Health science teaching labs may focus on a diverse range of educational activity including: o Anatomy o Chemistry o Engineering A-1 o Nuclear medicine o Magnetic resonance o Nursing o Dental o Occupational therapy The Treatment life sciences category includes a wide breadth of medical activity including hospitals, outpatient facilities, surgical centers, doctor's offices, testing laboratories and diagnostic laboratories. Facilities requirements vary with doctor's offices and smaller surgical centers conforming to typical medical office configurations and testing laboratories and clinical diagnostic labs requiring potentially sophisticated wet lab space, The Commerce category within the Life Sciences industry includes the developers and manufactures of devices and technology supportive of research and medicine. Companies may include medical device manufacturers, optics manufacturers or simulation labs. Laboratory requirements may be less oriented towards wet labs and biological research and focus more on clean design laboratories. Optics companies in particular may require "clean room" research, development and assembly space. Laboratory Space Each of the four identified Life Sciences categories potentially require some form of associated laboratory space. Wet lab space is most highly required by the Discovery sector's research laboratory facilities, either in the form of large institutional facilities or smaller shared space. Wet lab space may also be required in the Education and Treatment sectors for health science, diagnostic and testing laboratories. Common wet lab uses include academic research labs, vivariums, health care labs, health sciences teaching labs and pharmacology labs. "Wet labs" differentiate from other laboratory and research facilities in their ability to handle chemical and biological materials. In practice, this signifies o Special water and waste handling systems o Special air treatment, purification, and circulation systems including constant and reliable HVAC, dust control, gas/utility services and fume hoods o Special building security, control, and storage systems 0 24 hour access 0 14' to 18' floor to floor heights 0 20' to 30' column spacing o Vibration minimizing floors capable of handling 125-150 Ibs per square foot o Fail safe uninterruptible electrical and power systems o Individual companies will have additional "wet lab" needs that will be differentiated by their specialty (e.g., a stem cell company's need to handle cell cultures may be different than a pharmaceutical manufacturer that specializes in organic chemicals). A-2 Wet tabs are most often configured in open module arrangements. Atypical module could be 12' wide by 24' long, allowing two joined modules to fit within a 24' by 31' column bay. Open module lab arrangements with back to back benches allow single lab facilities to accommodate multiple users, departments, or companies and allow greater flexibility for the reorganization of private or semi-private lab space within multi-tenant facilities. • Wet labs can be constructed build-to-suit or can be converted from class A office or flex space provided certain space requirements are met. • Typical wet-lab space costs $450-$500 build to suit. Space can be built more economically if office or flex space can be reused. Most often, a top floor space with 14' to 18' ceilings is desired to accommodate necessary HVAC, water treatment and air treatment demands, 20 - 30 foot column spacing is desirable to incorporate modular lab design. Land Use and Environmental The facilities required for small to mid-sized pharmaceutical companies, research laboratories, optics, simulation and robotics companies and life sciences incubator installations can be readily accommodated within a variety of the existing zoning and future land use categories within Seminole County and the associated municipalities. Future land use categories including office, commercial, HIP-TI, HIP-Air, Industrial and WIC are all potentially conducive to targeted life sciences development. Life sciences companies of all sizes (although to a lesser extent for startups) benefit from strong air transportation resources and specialized training and professional services. Few industries are subjected to higher levels of federal scrutiny; the FDA clinical trial regulatory system significantly multiplies the cost and risk of bringing new life sciences products to market. Further, HIPAA and manufacturing quality requirements also increase security and manufacturing costs for this industry. • Life sciences companies, particularly emerging entities, may prefer to physically position their facilities proximate to existing research and university facilities such as UCF. 1 Life sciences companies will benefit from strong broadband and wireless connectivity and a range of standard business /office space leasing options (in terms of cost and amenities). • Life Sciences industry development will benefit from Seminole County's inventory of attractive and high-value single- and multi- family housing. • Cash incentives are potentially required to attract life sciences companies, given the current market for their business, the ability to potentially locate anywhere and the willingness of other domestic and international markets to provide capital and cash incentives. A-3 2. Digital Arts and Media Within Central Florida, Digital Arts and Media can be subdivided into four major categories: Modeling, simulation and training (MS&T), Film and television production, Theme park/ride and show and Interactive and immersive entertainment. While the focus of enterprise in each of these categories is unique, they share nearly identical infrastructure and facility requirements. Digital Media companies can readily locate into existing Class A or B office space or appropriate flex space provided that the facility can be serviced by high bandwidth broadband telecommunications infrastructure. From a land use .perspective, office, commercial, HIP-TI, and to a lesser extent HIP-AP and Industrial, future land use zonings can accommodate any of the structures necessary for Digital Arts and Media development. • General facility and infrastructure needs are described by flexible /inexpensive buildings and office space with very strong broadband Internet connectivity. Many freelancers operate out of home businesses, often with a network of collaborators /subcontractors to deliver larger client projects. • Some categories of digital media, particularly those focusing on communications, will be attracted to and benefit from above-average bandwidth and Internet infrastructure access points as they reduce packet lag and delay. In practice, this probably translates to 1000baseT ethernet connectivity within buildings and an OC3 fiber or greater external (street-to-building) connectivity. • The internal "components" of Digital Media companies, such as sound stages and post production houses, can easily be incorporated into general office and flex space facilities. • The most unique requirement of this sector is one of environment and lifestyle. Digital media companies will be attracted to "artist communities" and liberal, avant-garde neighborhoods with trendy restaurants, retail and "raw food" stores as might be found "in L.A." (or Austin, or New York, or San Francisco...). The downtown "Creative Village" concept, if properly fostered, might address this environmental aspect; in the short term the Seminole Way region should not try to duplicate or compete with the Creative Village to establish a centralized "creative neighborhood" environment. However, an emerging digital arts and media cluster could potentially benefit from close proximity to the University of Central Florida and the National Center for Simulation. • The digital arts and media cluster does not require significant infrastructure or site improvements with the exception of strong broadband connectivity. Lifestyle changes are less on-site and more local and many employees work virtually from a home office. A-4 3. Financial and Professional Services 4. Research and Technical Services The financial services and the research and technical services cluster share the same basic facility and infrastructure requirements. • In practice, financial services and research and technical services share infrastructure needs similar to any technology-intensive business, with the addition of .redundant power and communications and access to transportation corridors, o "A" and "B" office and business park space o Strong broadband and wireless telecommunications and stable power infrastructure. Possibly independent power backup systems for larger operations. o Access to skilled IT, professional services employment base o Access to transportation - road corridors for employees, and air transportation for business and client access o Strong security considerations • Financial services and research and technical services can be accommodated by fairly generic future land use categories such as office and commercial and by Seminole County's HIP-TI future land use designation. Additionally, financial, research and technical support services that do not require "store front" or roadway exposure can adequately locate within class A and B office space or flex space interspersed among other forms of development. Seminole County Office Space Concentrations - 2007 d ~~d ~ ~,: i Po ~r ~ ~~ - `1aTP L ~."~. ~"_~- ^`3 ,<~ ~' ~~. ~ab.~~ • 0 _• I r h ~w ~~: ~~ ~~ ~~~~ -~ ~~ti I:~ A-5 Summary of Facility and Infrastructure Requirements, SeminoleWay 1. Life Sciences Discovery sub-sector: oriented toward research and design; research labs; healthcare labs; vivariums; pharmacology; wet labs; institutional companies. These enterprises use laboratories, industrial/flex-space buildings, and conventional office space. Education sub-sector: oriented largely to teaching, including medical schools, nursing schools, and teaching laboratories. These institutions utilize laboratories, classrooms, and office space. Treatment sub-sector: oriented toward hospitals, clinics, outpatient facilities, doctors' offices, surgical centers, and diagnostic laboratories. These enterprises utilize medical office space and laboratories. Commerce sub-sector: includes developers and manufacturers of devices and technology supporting life sciences technology. These enterprises utilize various kinds of laboratories and special-purpose industrial space. Life sciences companies may prefer to physically position their facilities proximate to existing research and university facilities. Life sciences companies will benefit from strong broadband and wireless connectivity and a range of standard business /offices ace leasin o tions. 2. Digital Arts and Media Subdivided into four major categories: Modeling, simulation and training; Film and television production; Theme park/ride and show; Interactive and immersive entertainment. Facility and infrastructure needs are described by flexible inexpensive buildings and office space with very strong broadband Internet connectivity. The most unique requirement of this sector is one of environment and lifes le. 3. Financial and Financial, research, and technical services share Professional Services infrastructure needs similar to any technology-intensive 4. Research and Technical business, with the addition of redundant power and Services communications and transportation access. • "A"and "8"office and business park space • Access to skilled lT, professional services employment base • Stron broadband and wireless telecommunications SOURCE: Real Estate Research Consultants A-6 Semirwl~NAY Phase 2 Report -December 2008 PART B: SeminoleWay Interchange Properties Introduction In the SeminoleWay Phase 1 report, RERC and Glatting Jackson identified eight distinct S.R. 417 interchange areas and provided summaries and generalized maps of the vacant and underutilized parcels present at each. The following map illustrates the vacant and underutilized parcels within SeminoleWay by interchange as identified in the Phase 1 analysis. For the purpose of determining the suitability of each interchange to accommodate development associated with the four identified targeted industries, RERC obtained complete lists of the vacant and underutilized parcels at the individual interchange areas. As a preliminary measure, the parcel lists were scrubbed to remove any substantially un- developable parcels such as rights of way, storm water retention areas, etc. Each parcel was then scored by awarding one point for each of the following criteria: • The size of the parcel is greater than 2.0 acres • The parcel was vacant or substantially underutilized • The parcel is easily accessible from the appropriate interchange • The existing zoning permits the allowable building types necessary for development with one of the four targeted industries • The future land use designation of the parcel permits the allowable building types necessary for development within one of the four targeted industries • The parcel possesses the ability to be aggregated with an adjacent vacant/underutilized parcel After scoring, the reduced lists of parcels were mapped in order to further identify possible constraints or comparative advantages for development. Utilizing the initially scored parcel lists and maps, RERC completed extensive field work at each of the interchange areas to reinforce and confirm the property analysis and to assess the accessibility and visibility of high-scoring parcels. Factoring in information obtained through the field analysis, RERC further refined the suitability scores for each vacant/underutilized parcel at each interchange and categorized each parcel into one of two tiers. Tier One parcels are typically vacant, larger than two acres, directly accessible from major roadways, visible from business arterials, and located in typical commercial or business environments. Tier Two parcels possess many of the attributes of Tier One parcels but might potentially lack some of the favorable qualities associated with Tier One properties or may require assemblage and/or land use changes to accommodate target industry facilities. B-1 SeminoleWay Interchanges and Potential Development Parcels -Phase 1 Analysis m ~. 4a ~ SR 46.h-ter~hange Rineliavf Ril.ln'teichanga . SR'~46 HI ~ Area CR 46 A Interchsng Ldn Abn.M - '. ~ ~,I ~ ~^ '~ I-~~, .^ ~ ! ",; ~ r _ - ' US 17}9~ , ' ~ ~' Interchange ,a4 -; ~ e ry l.k Blvd. Ext. LI ~~~`~ s :' !GEN J [ MU7CN1 N p14 ~ UA ' - rlJ~.~(f /ff1lp SR,434 Interchange- 1 s ,MIN.. Rtro - • w WA Red Bu Lalu Rd . g `° Interchange; r „, ar°~ u~wYL NaM ~ ~ t.~ - ~; '~ r - __ k r -/ i , ~~ ('~i~ I. I Imo! N lL RO I ~ ` R " ti,Alorrsa Ave. -1 Int+ert~ange CQUNTVLINE o B-2 Final Property Inventory The following summaries present the key parcels within each interchange and the findings and recommendations regarding the suitability of each interchange for the targeted industries. This analysis provides an initial level of "due diligence" regarding potentially usable properties. Because of the ever-changing nature of real estate markets, property transactions, and efforts by land owners to develop, market, or entitle their properties, this initial survey cannot be guaranteed to be fully accurate or to remain static for more than a year, or so. Continual monitoring and updates of key data for suitable properties is recommended. Because of the limited and dispersed number of suitable properties around the developed SR 417 interchanges, RERC added the corridor along the Lake Mary Boulevard extension south and east of the Orlando-Sanford International Airport to the inventory of available properties; this substantially increases attractive land resources. In total, this study has identified approximately 365 parcels and 2,320 acres of vacant or substantially underutilized property generally located within one mile of a major interchange on SR 417, having access and utilities, and properly planned for uses which can accommodate the facilities required for the four major target industries identified in the Phase 1 SeminoleWay report, However, it should be noted that about 60% of the available and suitable property is located along the Lake Mary Boulevard extension near Orlando Sanford International Airport. As much as 15 to 20 million square feet of new office, light industrial, or commercial buildings, mixed-use, or higher intensity residential projects could be accommodated on these properties within the SeminoleWay corridor. Available Property Suitable for Development, SeminoleWAY Corridor, December 2008 ~1 ~ tc n e.~ f d` ~A`fe ., ~.Number~o'~. "~ Interchange Areas (North to South 1. Rinehart Road/SR 46 52 275 2. Sanford HIP 48 358 3. CR 46A 3 17.5 4. US 17-92 10 65.5 5. SR 434 10 46.9 6. Red Bu Lake Road 13 68.3 7. SR 426/Aloma 10 35.3 Sub-total 146 866.5 Stud Area: 8. Lake Mar Boulevard Ext. 219 1,453.8 Stud Corridor Total 365 2,320.3 SOURCE: Seminole County Tax Roll; Real Estate Research Consultants; Glatting Jackson B-3 1. State Road 46 -Rinehart Road Summary Observations: a) The study area centered around Rinehart Road and State Road 46, including portions of the I-4 HIP-TI (Higher Intensity Planned Development-Target Industry) area, is one of the most productive areas for future economic development, potentially including all of the target industry groups -but most notably financial and professional services, technical and research services, and digital media enterprises. b) Almost all of the identified properties are designated for higher intensity office, commercial, or industrial land uses, according to the future land use plans of Seminole County and the City of Sanford. c) Within this district, RERC and Glatting Jackson have identified 52 suitable properties totaling about 275 acres. d) Because of the district's proximity to Heathrow, Colonial Town Park, and Towne Center Mall, it is highly probable that many financial and professional services businesses will expand here, in addition to conventional retail and commercial activities. e) While properties are numerous, many are relatively small. Only a handful of available properties are larger than ten acres without assemblage. f) This is an established and highly developed area. There will be strong and diverse pressures for conventional developments. To encourage digital media or life sciences to develop within this district, a sophisticated and aggressive program of incentives or other intervention may be required. Parcel Matrix and Map The following matrix summarizes key characteristics of the available properties identified for this analysis. The Map Key number and Parcel ID are matched to the following map depicting specific parcels within the study area. B-4 AVAILABLE INTERCHANGE PROPERTIES, DECEMBER 2008 RINEHART-SR 46 Map Key Parcel ID Acreage Owner Zoning Future Land Use Property Address 1 32193030000760000 11.5 KELLEY EOGHAN N A-1 H([Sanford} RINEHART-RD 2 1619305A00000087A 7.7 SEMINOLE WAREHOUSE PARTS A-1 HIPTI [County], WIC (Sanford] 3980 W 46 SR (3955,) 3 30193030004100000 13.4 K HOVNANIAN CAMBRIDGE HO A-1 PD, LDR #N/A 4 _. 28193050600000070 5.2 MMM INV LLC A-1 WIC'[Sanford] 4201 W 46;SR 5 291930300037F0000 5,1 KELLEY CHRISTOPHER E SUCC T PD HI [Sanford] 4655 ST JOHNS PKWY 6 .28193050600000396 6.6 :.KELLEY CHRISTOPHER E SUCC T AG WIC [Sanford] 4530 ST JOHNS PKWY 7 28193050600000450 11.3 STENSTROM DOUGLAS JR & RI1 WIC [Sanford] 1043 UPSALA RD 8 .29193030002800000 28.5 PAULUCCI JENO F & A=1 HIPTI INTERNATIONAL PKWY 9 2819305060000037A 10.7. 'KELLEY EOGHAN N A-1 WIC{Sanford] 4400 ST JOHNS PKWY 10 28193050600000270 27.4 PAULUCCI JENO F & A-1 WIC [Sanford] UPSALA RD 11 1619305A00000050A 14:7 SPACEPORT'USA INC M-lA IND 12 1619305A000000290 5.2 KBC DEV INC A-1 IND 13 1619305A000OOOOF3 1.0 ''PAYEE' RAMBHAI K & SARO1 I A-1'' HIPTI NARCISSUS 14 1619305A000OOOOKO 1.9 ALDI (FLORIDA) LLC A-1 HIPTI #N/A 15 2019305FL00000110 ' 1.9 __ ' SUNPLEX 5-R HOLDINGS LLC A-1 IND 17 2119305050000004A '' 1.1 ''FIGUEIREDOJAME5 N TRUSTEE A-1 ' HIPTI CHURCH SL 18 2819305060000005A 2.5 N/T FLA SANFORD LLC A-1 PSP [Sanford] W 46 SR 20 2019305FL00000120 2.3 SUNPLEX 5-R HOLDINGS LLC A-1 IND 680 HICKMAN CR 21 2019305FL00000090 1.9 SUNPLEX 5-R HOLDINGS LLC A-1'' 1ND ' HICKMAN CIR 22 2019305FLD0000100 2.0 ' SUNPLEX 5-R HOLDINGS LLC A-1'' IND ' HICKMAN CIR 24 21193050300000060 1.9 KBCDEV INC A-1'' IND ' ORANGE BLVD 25 1619305A000000866 1.8 HIGHMOOR LLC A-1 HIPTI 225 MONROE RD 28 28193050600000060 3.8 N T FLORIDA SANFORD LLC A-1 PSP [Sanford] W 46 SR 31 28193050300000010 2.4 TRAN THUAN C & TRUC C R-1A HIPTI W 46 SR 32 1619305A000000456 1.T HARKINS C WILLIAM TRUSTEE A-1 CITY. 701'MONROE (& 707). RD 34 3219305010000010A 2.2 BALL THOMAS I3 III AG WIC, HI, MDR15 [Sanford] 1221 RINEHART RD 35 28193050600000050 2.1 N/TFLA SANFORDlLC A-1 WIC [Sanford] 165 S ELDER RD 36 2019305FtOB000050 1.7 'RENZULLI PROPERTfES LLC N1-1A- _. IND HICKMAN DR 37 1619305A000000300 2.4 PARK TEC LAKE MONROE LLC A-1 HIPTI N ELDER RD 38 2019305FLOB000060 1.6 RENZULLI PROPERTIES'LLC M-1A IND HICKMAN'DR 40 29193030002600000 5.8 YEN MING TRUSTEE A-1 HIPTI 4941 WOODRUFF SPRINGS RD 41 1619305A000000720 18.1 VON COMPANIES LLC A-1 HIPTI [County], WIC [Sanford] 451 MONROE RD 42 29193050900000030 10.7 PD HI [Sanford] 1810 RINEHART RD 43 1614305A00000052A 4.6 BREMER LANCE A A-1 HIPTI 621 N EIDER RD 44 1619305A00000034B 4.4 SCHAEFFER JOHN'F & LINDA A-1' PUBU [County], WIC [Sanfor d] 4009'SCHOOL ST AVAILABLE INTERCHANGE PROPERTIES, DECEMBER 2008 RINEHART-SR 46 Map Key Parcel ID Acreage Owner Zoning Future Land Use Property Address 46 29193050900000020 1.9 PD PSP, HI [Sanford] 47 1619305A000000450 3.1 SEMINOLE B C C A-1 CITY CHURCH ST 48 24193030002200000 '' 1.6 SPIVEY HELEN L LIFE.EST A-1 HIPTI 4981 WOODRUFF SPRINGS RD 51 1619305AC0000033G 2.1 RABUN G TERRY A-1 ' CITY 755 STJOSEPHS CT 55 1619305AB02000100 3.8 CLAYTON NIKKI M A-1 LDR ORANGE BLVD 57 29193050900000040 1.5 PD HI [Sanford] RINEHART RD 58 1619305A00000065A 4.9 MARONDA HOMES INC OF FLA A-1 HIPTI MARONDA WAY 59 2819305060000004A 2.6 RUCKER CARTER L & SUZANNE A-1 HIPTI 160 S ELDER RD 61 29193030002700000 3.7 GCD PROPERTIES A-1 HIPTI [County], PSP [Sanford] 4881 WOODRUFFSPRINGS''RD 62 1619305AB03000040 4:5 CLAYTON NIKKI M PCD PD 4680 ORANGE BLVD 63 _. 1619305A00000034A 4.1 ' ' VIRGINIA AVE LLC A-1' WIC [Sanford], HIPTI [County] 3918 CHURCH ST 64 2819305060000003] 1.7 SPLASH N DASH INC A-1 HIPTI [County], PSP [Sanford],. 66 .29193030002500000 3.9 YEN MING TRUSTEE A-1 HIPTI 4951 WOODRUFF SPRINGS RD 67 29193050200000040 2:7 MILAM FRANCES E & SWEETSEI A-1 HIPTI 68 1619305AB02000090 3.0 SCOTT] C A-1 LDR ORANGE BLVD. 69 1619305A00000056A 3.3 KLEINSCHMIDTJOHNN'& A-1 HIPTI 3883'CHURCHST 71 29193030002300000 3.4 BRANNON BARBARA A-1 HIPTI 4963 WOODRUFF SPRINGS RD TOTAL 275.6 TIER 1 Properties TIER 2 Properties 1 32193030000760000 38 201930SFL06000060 2 1619305A00000087A 39 21193050300000090 3 30193030004100000 40 29193030002600000 4 28193050600000070 41 1619305A000000720 5 291930300037F0000 42 29193050900000030 6 28193050600000396 43 1619305A000OOOS2A 7 28193050600000450 44 1619305A00000034B 8 29193030002800000 45 29193050200000030 9 2819305060000037A 46 29193050900000020 10 28193050600000270 47 1619305A000000450 11 1619305A000OOOSOA 48 29193030002200000 1Z . 1619305A000000290 49 2919305030A000000 13 . 1619305A000OOOOF3 b0 21193050100000080 14 1619305A000OOOOKO 51 1619305A00000033G 15 2019305FL00000110 52 .21193050600000090 f 16 . 1619305A00000046A 53 21193050500000010 17 2119305050000004A 54 21193050700000000 18 ` 2819305060000005A 55-' 161930SA802000100 19 2019305FLOB000100 56 21193050500000040 20 :` 2019305FL00000120 57 1 29193050900000040 21 ' 2019305FL00000090 58- 1619305A00000065A 22 201930SFL00000100 59. 2819305060000004A 23 21193050100000110 50 1619305A0000004SA 24 21193050300000060 61': 29193030002700000 25 1619305A00000086B b7r 1619305AB03000040 26 21193050300000080 63 '' 1619305A00000034A 27 2919305030D000000 64 '' 2819305060000003) 28 28193050600000060 ?' 65 29193050900000050 29 2819305.1600000120 66 29193030002500000 30 291930300038A0000 67 29193050200000040 31 28193050300000010 68 1619305A602000090 32 ;' 1619305A000000458 c 69 1619305A00000056A 33 32193050600000040 70 291930300037E0000 34 3219305010000010A 71 29193030002300000 35 28193050600000050 72 29193050100000060 36 ' 201930SFL08000050 73 `' 201930300004A0000 37 + 1619305A000000300 ~~ State Road 46 - ,.5°° 3.°°° Feet 2. Sanford HIP Area Summary Observations: a) The study area located north of State Road 46 and east of Monroe Road, including portions of the Sanford HIP-TI (Higher Intensity Planned Development-Target Industry) area, is another one of the most productive areas for future economic development, potentially including all of the target industry groups -but most notably life sciences support services, technical and research services, and digital media enterprises. b) Almost all of the identified properties are designated for higher intensity office, commercial, or industrial land uses, according to the future land use plans of Seminole County and the City of Sanford. Within this district, RERC and Glatting Jackson have identified 48 suitable properties totaling about 358 acres. c) Because of the district's access to I-4, SR 417, rail service, and Towne Center Mall and its predominantly industrial character, it is highly probable that many technical and research services businesses could locate here, in addition to conventional light industrial and commercial activities. d) While properties are numerous and relatively small, there are some larger parcels and the average parcel size is significant, allowing larger scale development. Many parcels are contiguous, which may allow for assemblage if desirable. e) This is an established and highly developed area. There will be strong and diverse pressures for conventional developments. To encourage digital media or life sciences to develop within this .district, a sophisticated and aggressive program of incentives or other intervention may be required. f) This is the only district studied which will accommodate a regional commuter rail station, which will provide unique access to downtown Orlando and other key employment centers and neighborhoods throughout the metropolitan area. Parcel Matrix and Map The following matrix summarizes key characteristics of the available properties identified for this analysis. The Map Key number and Parcel ID are matched to the following map depicting specific parcels within the study area. B-5 AVAILABLE INTERCHANGE PROPERTIES, DECEMBER 2008 SANFORD HIP Map Key Parcel ID Acreage Owner Zoning Future Land Use Property Address 1 1619305A000000826 3.7 HIGHMOOR LLC A-1 WIC [Sanford] 375 MONROE_RD 4 1619305A00000076C 3.1 BOYD RICHARD W & BRENDA K A-1 HIPTI 495 N WHITE CEDAR RD 5 2219305AD00000330 2.4 HU )SON C FRED III TRUST A-1 WIC [Sanford] W 46 SR 6 1619305A000000768 3.7 NIELSEN JAMES E JR & GINA M A-1 HIPTI N WHITE CEDAR RD 7 27193030000100000 8.7 WAYNE DENSCH INC M-1 WIC [Sanford] W 1ST ST 8 1619305A000000630 '8.6 WHITE CEDAR'ESTATES LLC A-1 CITY N WHITE CEDAR RD 9 1619305A00000059A 5.S SANFORD RECYCLING & TRANSFER M-1 WIC, PSP [Sanford] RAND YARD 10 1619305A000000910 9.3 HARVEST TIMEiNTERNATIONAL ll A-1 WIC [Sanford] 220 N KENNEL RD 11 1619305A000000930 11.0 D R NORTON INC A-1 HIPTI 133 N WHITE CEDAR RD 12 1619305A000000740- 9'8 WHITE CEDAR ESTATES LLC ._ A-1 CITY 3855101NAAVE 13 1619305A000000800 8.7 WHITE CEDAR ESTATES LLC A-1 WIC [Sanford] N WHITE CEDAR RD 14 2219305AD00000010 20.9 GREAT POTPOURRI LTD Mil WIG [Sanford] NARCISSUS 15 1619305A000000560 5.9 LEPACH DAVE A-1 CITY - CHURCH'ST 16 1619305A000000810 6.3 HIGHMOOR LLC AG WIC [Sanford] NARCISSUS 17 1619305AC00000790 9.2 GREAT POTPOURRI LTD A-1 WIC [Sanford] 18 1619305A000000870 8.7 LO BROS ENTERPRISES INC A-1 HIPTI [Sanford] 3900 W 46 SR 19 1619305A000000770 18.6 KELLEYCHRISTOPHER E SUCC TR A-i WIC [Sanford] N KENNEL RD 20 1619305A00000035A 9.3 lAKEMONROE DEV LLC. PD WIC [Sanford] 3840 CHURCH ST 21 1619305A000000590 5.8 .KELLEY CHRISTOPHER E SUCC TR A-1 WIC [Sanford] IOWA AVE 22 1619305A000OOOOLO 9.4 WHITE CEDAR ESTATES LLC A-1 CITY NARCISSUS 23 1619305A000000580 6.7 LAKEMONROE DEV LLC A-1 WIC [Sanford] N WHITE CEDAR RD 24 2219305AD00000050 17.0 DORSEY NORBERT M BISHOP M-1 WIC [Sanford] NARCISSUS AVE 25 1619305A000000570 -8.0 CASTRO RAY A-i CITY N WHITE CEDAR RD 26 2219305AD00000280 44.8 DORSEY NORBERT M BISHOP A-i WIC [Sanford] 3049 NARCISSUS AVE 27 1619305A00000089A 7.4 D R NORTON INC A-1 HIPTI N WHITE CEDAR RD 28 1619305A000000750 - 8.1 WHITE CEDAR ESTATES LLC A-1 WIC (Sanford] IOWA ST 32 1619305A00000086E 2.1 GALLOWAY FRANCES E A-1 HIPTI 255 MONROE RD 33 1619305A000000860 3.6 HIGHMOOR LLC A-1 HIPTI 34 1619305A00000067A 4.8 MONROE INV LLC A-1 HIPTI 535 N ELDER RD 36 1619305A000000670 4.7 SCHWEIZER GARTH A A-1 HIPTI 575 N ELDER RD 37 1619305AC0000081A' :12.5 'BEHRENS CLAUDETTE W TRUSTEE AG 'WIC [Sanford] :3900 NARCISSUS AVE 38 1619305A000000940 2.4 ''D R NORTON INC A-1 -WIC [Sanford]- 204 N WHITE CEDAR RD 39 1619305A000000946 3.2 A-1 WIC [Sanford] 3710 W 1ST ST 40 1619305A000000640 4.6 CHURCH FIRST PENTECOSTAL OF A-1 CITY #N/A 41 2219305AD00000390, I4.5 ,HUD-ONE,LLC ', A-i WIC[Sanford]',' ,3310 WA6 SR AVAILABLE INTERCHANGE PROPERTIES, DECEMBER 2008 SANFORD HIP Map Key Parcel ID Acreage Owner Zoning Future Land Use Property Address 42 2219305AD000b0380- ' 4.3 COMMERCIAL TRUCK SALES & ' ' A-1 WIC jSanford] -3400 W 46 SR 44 1619305A000000620 I1.6 'MOORS JESSE EI& CAROLYN 1 A-1 HIPTI 501 NORTH WHITE CEDAR RD 45 1619305A000000760 ' 1.5 BOYb RICHARb W & BRENDA K A=1 HIPTI 495 N WHITE CEDAR RD 46 1619305A000000896 1.8 D R HORTON INC A-1 HIPTI 260 N WHITE CEDAR RD 47 2219305AD00000370 4.7 HUYNH'HARRY & ' A-i WIC [Sanford] 3424 W 46 SR 48 2219305AD0000049A' '1.1 KELLEY CHRISTOPHER E TRUSTEE 'M-1 WIC, HIPTI 3298 NARCISSUS AVE 49 1619305A00000082C, 4.0 ' HIGHMOOR LLC' PD ,WIC [Sanford] 343 MONROE'RD 50 271930300001A0000 5.5 GABFT LLC M-1 HIPTI 2720 W 1ST ST 51 2219305AD00000270 5.1 WAYNE DENSCH INC M-1 LND, HIPTI RAND YARD RD 52 2219305AD00000350 9.0 HARVEST TIME INTERNATIONALII PD WIC [Sanford] NARCISSUS AVE 53 1619305A000000900 9.3 D R HORTONINC A-1 HIPTI' N WHITE CEDAR RD 54 1619305A00000064A 5.1 LEPACH DAVID J A-1 CITY #N/A 55 1619305A000000920' 11.7 LO BROS ENTERPRISES'INC A-1 'WIC [Sanford] ' 3550 W 46 5R TOTAL 357.9 TIER 1 Properties TIER 2 Properties 3. County Road 46-A - 25th Street Summary Observations: a) The study area centered on 25'h Street/H.E. Thomas Jr. Parkway (aka County Road 46-A) includes portions of Sanford, Lake Mary, and unincorporated Seminole County. This is probably the least productive area for future economic development, primarily because the land resources are largely built out at this time. b) Within this district, RERC and Glatting Jackson have identified only three suitable properties totaling about 17.5 acres. c) The identified properties are designated for higher density residential, commercial, or low density residential land uses, according to the future land use plans of Seminole County and the City of Sanford. d) Despite the district's access to SR 417, its predominantly residential character makes it highly unlikely that anything but limited professional services or technical and research services businesses could locate here. e) While properties are limited in number, the average parcel size is significant, allowing larger scale development. Two parcels are contiguous, which may allow for assemblage if desirable. f) This is an established and highly developed area. There will be strong and diverse pressures for conventional developments. To encourage digital media or life sciences to develop within this district, a sophisticated and aggressive program of incentives or other intervention may be required. Parcel Matrix and Mag The following matrix summarizes key characteristics of the available properties identified for this analysis. The Map Key number and Parcel ID are matched to the following map depicting specific parcels within the study area. B-6 AVAILABLE INTERCHANGE PROPERTIES, DECEMBER 2008 CR46A Map Key Parcel ID Acreage Owner Zoning Future Land Use Property Address 1 3419305030F000010 9.7 GILMORE RICARDO L'& R-1 LDR W20TH ST 2 02203030002200000 2.8 CSX TRANSPORTATION INC A-1 COM W 25TH ST 3 02203030002300000 S.0 CSX TRANSPORTATION INC RIl COM, HDR GC W 25TH ST TOTAL 17.5 TIER 1 Properties TIER 2 Properties Feet CR 46A - 800 '600 4. US Highway 17-92 Summary Observations: a) The study area centered around the intersection of SR 417, SR 472, Lake Mary Boulevard, and US Highway 17-92 includes portions of the City of Sanford and unincorporated Seminole County. Like the CR 46-A area, this is another one of the least productive areas for future economic development due primarily to a shortage of available vacant properties. A good portion of the immediate interchange area is within Seminole County's Community Redevelopment Area (CRA), which is designated for significant redevelopment over the next 10 to 20 years. This linear redevelopment area could potentially include most of the target industry groups -but most notably business and professional support services, technical and research services, and digital media enterprises. b) Almost all of the identified properties are designated for office, commercial, or industrial land uses, according to the future land use plans of Seminole County and the City of Sanford. c) Within this district, RERC and Glatting Jackson have identified 10 suitable properties totaling about 65 acres. With substantial redevelopment, acres of additional land might be made available, but at a substantial cost. d) Identified properties are limited in number and geographically dispersed. In most cases, access to the US 17-92 interchange is not direct. e) This is an established and highly developed area. There will be strong and diverse pressures for conventional developments. To encourage digital media or life sciences to develop within this district, a sophisticated and aggressive program of incentives or other intervention may be required. For a significant scale of professional or other business services to occur, redevelopment will be required. Parcel Matrix and Map The following matrix summarizes key characteristics of the available properties identified for this analysis. The Map Key number and Parcel ID are matched to the following map depicting specific parcels within the study area. B-7 AVAILABLE INTERCHANGE PROPERTIES, DECEMBER 2008 US 17-92 Map Key Parcel ID Acreage Owner Zoning Future Land Use Property Address 1 072031300017M0000 14.1 POWERS CHARLES H M12. I SANFORD AVE 2 072031300017P0000 11.3 POWERS CHARLES H M-1 3 01203052000000020;. 2.7 SANFORD GREENWAY COMMERCE CENTER R-1A GC, LDRSF S FRENCH AVE 4 122030300019F0000 4.7 BAKER FARMS INC GC2 I 427 CR 5 01203052000000010s 3.8 LIBERTY VP SANFORD LLC R-lA GC, LDRSF 17-92 HWY 6 1220305080A000000 7.1 WHITE W'GAR[VETT & PAULETTE C A-1 LDR - N 427 (LAUREL) 8 1720315AZ00000010 10.4 PHIFfRVELMARTRUSTEE A-1 SE PINEWAY 9 1720315AZ0000005A 2.0 NASAJPOURAHMAD A-1 CITY PALM WAY 10 01203051200000190' 4.6 ISLAMIC SOCIETY OF CENTRALFLA GC2 GC, PSP 2917 ORLANDO'DR 11 132030300045D0000 ' 4.7 WILLIAMS RANDY A & A-1 SE 4258 5 SANFORD AVE TOTAL 65.5 TIER 1 Properties TIER 2 Properties 5. Stafe Road 434 -Winter Springs Boulevard Summary Observations: a) This study area located along SR 434 (aka Winter Springs Boulevard), including properties within the municipal limits of Winter Springs and Oviedo, is another one of the more productive areas for future high-tech economic development, potentially including all of the target industry groups -but most notably life sciences support services, technical and research services, and digital media enterprises. b) Most of the identified properties are designated for higher intensity office, commercial, or interchange-related land uses, according to the future land use plans of the City of Winter Springs and the City of Oviedo. c) Within this district, RERC and Glatting Jackson have identified 10 potentially suitable properties totaling about 47 acres. Assuming some rezoning or land use changes, there might be significant attractive tracts that could also be considered over the longer term. d) Because of the district's access to SR 417, proximity to UCF, and its predominantly commercial character, it is highly probable that many technical and research services businesses and life sciences activities could locate here, in addition to conventional office and commercial activities. One high- tech incubator is already in operation in this district. e) While properties are limited in number, there are some larger parcels and the average parcel size is significant, allowing larger scale development. Some parcels are contiguous, which may allow for assemblage if desirable. f) This is an established and highly desirable area, and some relevant development has already begun. There will be strong and diverse pressures for conventional developments. To encourage digital media or life sciences to develop within this district, a sophisticated and aggressive program of incentives or other intervention may be required. Conventional business services and technical research activities might already find the area attractive. Parcel Matrix and Mag The following matrix summarizes key characteristics of the available properties identified for this analysis. The Map Key number and Parcel ID are matched to the following map depicting specific parcels within the study area. B-8 AVAILABLE INTERCHANGE PROPERTIES, DECEMBER 2008 SR 434 Map Key Parcel ID Acreage Owner Zoning Future Land Use Property Address 1 '3120315660000019H 6.1 CASSCELIS OLEDA D & CASSCEL A-10 Greenway Interchange District [Winter Springs] 434 SR 2 31203158600000210 8.5_CASSGELLS MARGARET S 0 & A-10 . Greenway Interchange District [Winter Springs] 3 -04213150106000000 2.7 SHAUTAN CRAIG A & A-1 CM [Oviedoj; 434 SR 4 04213130000260000 3.8 STRAN GROUP LLC AG LDR [Oviedo], Greenway Interchange District [W 434 SR 5 0421315010A000000 1.5 HARB BROTHERS INC AG CM [Oviedo] 419 CR 6 31203158600000180 10.3'GASSCELLS MARGARET S 0 & A-10 LDR [Oviedo], Greenway Interchange District [W SPRING AVE 7 25203158A00000176 S.S ARIEJOHN B SUCC TRUSTEE A-i LDR [Oviedo] 236 W 434 5R 8 25203156A0000020A 4.3 MINTER WILLIAM T & SUSAN J A-3 LDR [Oviedo]' 9 25203158A0000017C 2.6' FIRST CHAIR INV LLC A-1 -LDR, Cons [Oviedo] 250 W 434 SR 10 .05213130000200000 1.4' REFERENCE ONLY A-10 Commercial/Split' [Winter Springs] Vistawilla Ph. 2 TOTAL 46.9 TIER 1 Properties TIER 2 Properties Feet State Road 434 - '~°°° 2,°°° 6. Red Bug Lake Road Summary Observations: a) This study area located along Red Bug Lake Road and SR 426, including properties within the municipal limits of Oviedo, is one of the more productive and intriguing areas for future high-tech economic development, potentially including all of the target industry groups -but most notably life sciences support services, technical and research services, and digital media enterprises. b) Most of the identified properties are designated for professional office and commercial land uses, according to the future land use plans of the City of Oviedo. Oviedo has designated this as a "Gateway District" for economic development purposes. c) Within this district, RERC and Glatting Jackson have identified 13 potentially suitable properties totaling about 68 acres. Assuming some rezoning or land use changes, there might be significant attractive tracts that could also be considered over the longer term for higher intensity development. As well, there are under-utilized parcels and buildings associated with Oviedo Marketplace Mall that could offer long-term adaptive re-use potential. There are some larger parcels and the average parcel size is significant, allowing larger scale development. Some parcels are contiguous, which may allow for assemblage if desirable. d) Because of the district's access to SR 417, proximity to UCF, and its predominantly commercial character, it is highly probable that many technical and research services businesses and life sciences activities could locate here, in addition to conventional office and commercial activities. e) This is an established and highly desirable area and there will be strong and diverse pressures for conventional developments. To encourage digital media or life sciences to develop within this district, a sophisticated and aggressive program of incentives or other intervention may be required. Conventional business services and technical research activities might already find the area attractive. Parcel Matrix and Map The following matrix summarizes key characteristics of the available properties identified for this analysis. The Map Key number and Parcel ID are matched to the following map depicting specific parcels within the study area. B-9 AVAILABLE INTERCHANGE PROPERTIES, DECEMBER 2008 RED BUG Map Key Parcel (D Acreage Owner Zoning Future Land Use Property Address 1 1621313000320000b - 5.2 OVIEDO'LUXURY LIVING LTD A-1 -0FF [Oviedo],, 4545UGAR M{LL Rb 2 1621315CA0000119A 6.2 OVIEDO LUXURY LIVING LTD PUD OFF [Oviedo] OVIEDO MARKETPLACE BLVD 3 17213151000000010..'. 7.0 ADVENTIST HEALTH SYSTEMJ PD ' ICONS'PUD [Ov{edo] ', OVIEDO MARKETPLACE BLVD 4 1621315CA00000020 5.8 ,CENTRAL FLA REGIONAL HOSP INC ', A-1 CM [Oviedo] ,1265 LIGHTERED; KNOT GREEK TRL 5 1621315CA0000120C 6.7 BLACKWOOD BERNARD O & SUZANNE PUD IN [Oviedo] 6 1621325CAO000OOlA '8.4 CENTRAL; FLA REGIONAt;HOSP INC A-i 'CM [Oviedo] 1697,W BROADWAY ST 7 16213130003280000 4.2 OVIEDO LUXURY LIVING LTD A-1 OFF [Oviedo] 1150 SUGAR MILL RD 8 1621315CA0000118A 3.9 CRESCENDO RESOURCE GROUP LLC PUD OFF [Oviedo] 1151 W SUGAR MILL RD 9 16313130003260000 '' '3.2 .' OVtEDO LUXURY LIVING'GTD A-i 'OFF (Oviedo] ' 481 SUGAR MILL liD 10 1621315CA0000119B ' 1.5 'CRESCENDO RESOURCE GROUP LLC .......... PUD 'CM [Oviedo]' 11 162131300032A0000 3.0 GLONINGER EVELYN W TRUSTEE A-1 OFF jOviedo] SUGAR MILL RD 12 1621315CA0000021A 2.5 CENTRAL FLA REGIONAL HOSP INC A-1 IND [County], CM, [Oviedo] 13 16213130003400000 10.6 TURNER MARKG & GRAYJOHN H A-1 CM [Oviedo] MITCHECHAMMOCK RD TOTAL 68.3 TIER 1 Properties TIER 2 Properties Red Bug Lake Road - 75° ,,5°° Feet 7. State Road 426 - Aloma Boulevard Summary Observations: a) The study area centered on State Road 426 (aka Aloma Boulevard) is a moderately productive area for future economic development, potentially including all of the target industry groups -but most notably life sciences support services, technical and research services, and business services. b) Almost all of the identified properties are designated for higher intensity office, commercial, or residential land uses, according to the future land use plans of Seminole County. c) Within this district, RERC and Glatting Jackson have identified 10 suitable properties totaling about 35 acres. d) Because of the properties' convenient access to SR 417 and UCF, it is highly probable that many technical and research services businesses could locate here, in addition to conventional office and limited commercial activities. e) While properties are limited in number and relatively small, there are some larger parcels allowing larger scale development. Some parcels are contiguous, which may allow for assemblage if desirable. f) This is an established and highly developed area. There will be strong and diverse pressures for conventional developments. To encourage digital media or life sciences to develop within this district, a sophisticated and aggressive program of incentives or other intervention may be required. Parcel Matrix and Map The following matrix summarizes key characteristics of the available properties identified for this analysis. The Map Key number and Parcel ID are matched to the following map depicting specific parcels within the study area. B-10 AVAILABLE INTERCHANGE PROPERTIES, DECEMBER 2008 SR 426 Key Map Parcel ID Acreage Owner Zoning Future Land Use .. 1 31213151700000020 1.1 A-1 HIPTR 2 31213130002300000 1.8 CLAYTON BRANTLY W TRUSTEE A-1 HIPTR 3 31213151700000030 1.2 A-1 HIPTR 4 31213130000700000 8.5 STANKO SUSAN C TRUSTEE A-1 COM 5 31213130000200000 5.7 CLARK DANIEL R & CATHY A A-1 'OFF 6 312131300007A0000 6.S STANKO ANDREW TRUSTEE A-i COM 7 31213150100000050 2.6 ALOMA JANCY ANIMAL HOSP INC A-1 LDR 8 3121315010000005A 3.7 'ALOMA JANCY ANIMAL HOSP-INC A-1 'LDR 9 31213150100000046 2.6 ALOMA 1ANCY ANIMAL HOSP INC A-1 LDR 10 3121315010000004A 1.5 ALOMA JANCY ANIMAL HOSP INC ' A-1 LDR TOTAL 35.3 Property Address __ __ 5409 DEEP LAKE: RD 2625 WRIGHTS (&2655) RD W 426 SR 3390 PET COUNTRY CT TIER 1 Properties TIER 2 Properties State Road 426 - a°° ,,6°° Feet 8. Lake Mary Boulevard Extension Summary Observations: a) The study area located along the Lake Mary Boulevard extension from SR 427 northeast to the St. John's River, including portions of the City of Sanford and unincorporated Seminole County, was added to the SeminoleWay corridor because it is the laroest and most productive of the areas for future economic develo ment, potentially including the target industry groups of life sciences support services, technical and research services, and digital media enterprises. b) The identified properties are designated for a variety of higher intensity office, commercial, or industrial land uses, according to the future land use plans of Seminole County and the City of Sanford. Much of the acreage is designated as "airport support activities." c) Within this district, RERC and Glatting Jackson have identified 219 potentially suitable properties totaling about 1,450 acres, most of which is effectively vacant. d) Because of the district's access to SR 417, SR 46, and rail service, and its predominantly undeveloped industrial character, it is highly probable that many technical and research services businesses and life sciences support enterprises could locate here, in addition to conventional light industrial and commercial activities. e) While properties are numerous and relatively small, there are some larger parcels, allowing larger scale development. Many parcels are contiguous, which may allow for assemblage into large development tracts, if desirable. f) This is a new and largely undeveloped area. There will be emerging and diverse pressures for conventional developments. To encourage digital media or life sciences to develop within this district, a sophisticated and aggressive program of incentives or other intervention may be required. Land availability at lower costs may be the most effective marketing asset in the near term. Parcel Matrix and Map The following matrix summarizes key characteristics of the available properties identified for this analysis. The Map Key number and Parcel ID are matched to the following map depicting specific parcels within the study area. B-11 AVAILABLE PROPERTIES, DECEMBER 2008 LAKE MARY BOULEVARD EXTENSION Key Map Parcel ID 1 072031300003Q0000 ', 2 03203130001100000 3 0320315AY00000390 4 D320315AY000030A0 5 D42031300006A0000 6 '03203130001000000 7 04203130001300000 8 0320315AY000031A0 9 33193130012400000 10 0320315AY00000370 11 331931300129A0000' 12 08203130003900000 13 33193130000400000 14 33193130013200000 15 28193130001500000' 16 .07203130000100000 17 28193130001700000 18 0320315AY000029A0 19 0320315010A000010 20 0320315AY000014A1 21 08203130003800000 22 03203130000200000 23 33193130001700000 24 .33193130000460000. 25 0320315010E00004A 26 0320315AY0000055C 27 0320315AY00000650 28 0320315AY000022A0 29 0320315AY00000850 30 0320315AY00000880 31 33193130012900000 32 331931300004A0000 33 08203130003700000 34 34193130000300000 35 0720315LR00000070 _. 36 0320315AY000020Ai 37 0720315LR00000460' 38 0320315AY00000408 39 331931300004D0000 40 33193130001100000 Acreage Owner Zoning Future Land Use Property Address '' 8.3 EVERHART DONNA L TRUST R-IAA 'LDR,IDRSF [Sanford]! '- 845 ONORA 5T 9.1 SCHMIDT KHALIL & A-1 HIPAP 9.1 SAN FORD ACQUISITIONS GROUP LLC AG AICjSanfordJ 3566 BEARDALL AVE' 8.5 LAYER WILLIAM P & LUCY P & A-1 IND CAMERON AVE 5.5 FLA POWER & LIGHT CO A-1 AIC [Sanford], IND [County] 3881E 46 SR 10.5 SCHMIDT KHALIL & A-1 HIPAP 2841 CAMERON AVE 17.6 DELPHINI INDUSTRIAL PARKAT A-1 AIC [Sanford] 2511 BEARDALL AVE 9.0 SCHMIDT KHALIL & A-1 HIPAP MOORE STATION RD 9.3 LAY SOPHAN 8c C-3 COM, IND [County], I [Sanford) BEARDALL AVE 17.3 SANFORD ACRES LLC A-1 HIPAP SIPES AVE 13.1 STENSTROM CAROLYN P SUCC TR A-1 PD CAMERON AVE 20.6 MC CASKILL-SUSAN T & HARMON A-1 AIC [Sanford], IND [County] KENTUCKY OFF SIPES 17.3 STENSTROM CAROLYN P SUCC TR 0 PD N CAMERON AVE ,34.7 FLORIDA EXTRUDERS INTER- A-1 I [Sanford] 2305 BEARDALL AVE 8.0 MERIWETHER WILLIAM & A-1 SE E CELERY AVE 11.7 EVERHART DONNA LTRUSTEE R-IAA LDR 16.1 MERIWETHER WILLIAM & A-1 SE E CELERY AVE 8.7 KING WALTER N A-1 IND CAMERON AVE 8.1 TAKVORIAN ANN A-1 IND RICHMOND AVE 40.5 INTERNATIONAL BUSINESS GROUP A-1 AIC (Sanford] 2780 CAMERON AVE 25.1. MASAI HOLDINGS LLC A-1 AIC[Sanford], IND [County]. SIPES AVE 8.7 KING WALTER N A-1 IND E 46 SR 16.5 ' MERIWETHER FARMS INC - M-1 IND, SE ' CELERY AVE 9.2 STENSTROM CAROLYN P SUCC TR PUD PD N CAMERON AVE 9.5 KING WALTER N A-1 CITY E LAKE MARY BLVD .10.1 A-1- HIPAP 9.3 DP & DP INC A-1 HIPAP BEARDALL AVE 9.5 LAKE VICTORIAINV GROUP LLC RI1 AIC [Sanford] 2690 CAMERON AVE 19.5 TAKVORIAN ANN A-1 SE PINE ST 5:1 HERBST ALAN H A-1 SE KENTUCKY &BEARDALL 8.3 STENSTROM CAROLYN P SUCC TR PUD PD CAMERON AVE 45.8 STENSTROM CAROLYN P SUCC TR PUD PD N CAMERON AVE 6.2 SAWYERS W BLAKE 8cJOYCETR A-1 IND 6.6 TAKVORIAN ANN A-1 COM E 46 SR 2.1 SAFARI INV LLC M12 I 215 TRADEPORT DR -' 4.9 CRAPPS WILLIAM H A-1 __ `CITY 'CAMERON AVE "1.8 'SAFARI INV LLC '' A=1 I 200 51LVERVISTA BLVD 3.9 SANFORD ACQUISITIONS GROUP LLC AG AIC [Sanford] BEARDALL AVE 4.3 'STENSTROM CAROLYN P SUCC TR M-1 PO N CAMERON AVE 2.2 HOOPS ALLEN R & BRENDA L A-1 SE 3991 CELERY AVE AVAILABLE PROPERTIES, DECEMBER 2008 LAKE MARY BOULEVARD EXTENSION Key Map Parcel ID Acreage Owner Zoning Future Land Use 41 0720315LR00000430 '1.7 ' SAFARIINV LLC 'A-1' 42 0720315LR00000370 '2.0 ' 'SAFARIINV LLC' A-1 I 43 082031300037A0000 2.2 A-1 IND 44 0720315LR00000180 2.3 SAFARI INV LLC MI2 I 45 0720315LR00000300 2.5 SAFARIINV LLC A-1 t 46 0720315LR00000420 2.3 SAFARIINV LLC A-1 I 47 0720315LR00000350 "' 1.8 SAFARI INV LLC A-1 I 48 0720315LR00000270 1.7 '.SAFARI INV LLC A-1' I 49 0720315LR00000100 2.0 SAFARI INV LLC. M12' I 50 0320315AY0000056A 4.6 DP &DPINC A-1 HIPAP 51 0720315LR00000450 ' 1.8 SAFARI INV LLC A-1 J 52 0720315LR00000140 1.6 SAFARIINV LLC MI2. I 53 0720315LR00000130 ' 1.7 SAFARI INV LLC M12 I 54 0720315LR00000390 2.1 SAFARIINV LLC A-1 I 55 08203130000400000 1.0 RAMNARINE BICKHAM 8c A-1 SE, AIC 56 0320315AY00000400 4.6 SANFORD ACQUISITIONS GROUP LLC AG AIC [Sanford) 57 0720315LR00000190 '1.8 SAFARIINV LLC M12 I 58 0720315LR00000080 2.0 SAFARIJNV LLC _ M12 59 331931300004F0000 4.6 STENSTROM CAROLYN P SUCC TR PUD PD 60 0720315LR00000120 '1.9 SAFARIINV LLC MI2 I 61 0720315LR00000280 1.7 ''SAFARIINV LLC A-1 62 0720315LR00000170 2.1 SAFARIINV LLC MI2 1 63 Q32031300003C0000 I 1.5 " AUSAFC LLC - A-1 1ND 64 0720315LR00000230 2.0 SAFARIINV LLC A-1 I 65 1720315AZ0000043A 4.6 GARRISON DANIEL L & JO ANN A-1 SE 66 0320315AY00000330 3.9 HUNTER OLLIE F A-1 AIC, HIPAP 67 03203130000600000 4:3 SCOTT'S LANDING LLC A-1 IND 68 0720315LR00000260 1.8 SAFARIJNVLLC A-1 69 0320315AY0000057B 3.1 DP &DPINC A-1 HIPAP 70 D720315LR00000410 1.8 SAFARI INV LLC A-1 PSP,I 71 0320315AY00000348 4.9 PERSAUD DHAN & CHAND A-1 AIC, HIPAP 72 331931S10p0000010 ' 1.8 "STENSTROM CAROLYN P SUCC TR A-1 PD 73 33193130013500000 1.8 CORLEY KATHLEEN N A-1 COM 74 0720315LR00000400 2.1 SAFARIINV LLC A-1 75 0720315LR00000160 2.7 SAFARIINV LLC MI2 I 76 0720315LROD000250 1.7' 'SAFARIINV LLC A-1 I 77 0320315010EOOD040 5.0 LAYER WILLIAM P & LUCY P & A-1 CITY 78 0720315LR00000360 2.1 SAFARIINV LLC A-1 LDRSF,I 79 0720315LR00000290 ' '1.? -SAFARI INV LLC A-1 80 0720315LR00000200 2.4 SAFARI INV LLC MI2.. J Property Address 240 TRADEPORT DR - 295 TRADEPORT DR LAKE MARY BLVD ....335 PARK NATIONAL DR PARK NATIONAL DR 250TRADEPOftT DR 275 TRADESPORT DR 350 CARGO CT 245 TRADEPORT DR 300 SILVERVISTA BLVD 285 PARK NATIONAL DR 275 NATIONAL PARK DR 280 TRADEPORT DR OHIO AVE BEARDALL AVE 345 PARK NATIONAL DR 225 TRADESPORT DR 265 TRADEPORT DR 340 CARGO CT 325 PARK NATIONAL DR E 46 5R, 350 PARK NATIONAL DR PINEWAY MARQUETTE AVE CAMERON AVE 355 CARGO CT BEARDALL AVE 260 TRADEPORT DR 3539 MARQUETTE AVE E465R E46SR 270 TRADEPORT DR 315 PARK NATIONAL DR 345 CARGO CT LAKE MARY BLVD 285 TRADEPORT DR - 330 CARGO CT 355 PARK NATIONAL AR AVAILABLE PROPERTIES, DECEMBER 2008 LAKE MARY BOULEVARD EXTENSION Key Map Parcel ID Acreage Owner Zoning Future Land Use Property Address 81 34193130000380000 1J DEEN THAKOOR & MARTHA E A-1 COM E 46 SR 82 O72O315LROOO00O90 -1.8 SAFARI INV klC M12 I 235 TRADESPORT DR 83 0720315LRO0000110 1.8 ' SAFARI INV LLC M12 I 255 TRADEPORT DR 84 33193130012300000 1.7 NEWSON SANDRA L TRUSTEE C-2 COM 3640E 46 SR 85 0720315LR00000440 '' '1:7 SAFARI INV LLC A-1 I 230 TRADEPORT DR 86 07203130000800000 2.1 EVERHART DONNA L TRUST R-IAA LDR 87 0720315LR00000150 1.6 SAFARI INV LLC M12 I 295 PARK NATIONAL DR 88 341931300003A0000 4,4 JETT CHARLES L & MARY E A-1 PD 415 SR 89 0320315AYO000033A 11 ALBERGA KAREN L A-1 HIPAP 3645 MARgUETTE AVE 90 1720315AZOO000360 8.8 SERENGETI PROPERTIES LLC A-1 SE [Sanford] '384Q,S BRISSON AVE 91 0320315AY000023A0 29.5 SANFORD ARPRT AUTH/CITY SANFRD RI1 AIC [Sanford] 5 CAMERON AVE 92 33193130005600000 9.4 GEHR GARNER') JR& KATHLEEN A A-1 COM; PD HUGHEY ST 93 0320315AY0000Q230 9.1 KIRCHHOFF WILLIAM E & AG AIC [Sanford]. CAMERON AVE 94 032O315010E00003O 9.9 WILEY TALMADGE K & CATHERINE E A-1 HIPAP 2790 RICHMOND AVE 95 -032O31300008E000O 6.1 BROOKS JOE W A-1 IND CANYON PT 96 33193130001200000 - ' 17.2 p0UL5EN CARL P ' - M-1 SE-' 3741 CELERY AVE 97 04203130004400000 5.2 SAHR LLC A-1 HIPAP 98 33193130000100000 ' 13.7 'ANDRES CHRISTA L TRUSTEE A-1 SE "' 4001 CELERY AVE 99 0320315AY00000310 17.7 KIRCHHOFF WILLIAM E & AG AIC [Sanford] 3465 BEARDALL AVE 100 0320315010D000070 5.9 GROTE HENRY) &JACQUELYN S A-1 HIPAP 2685 RICHMOND AVE. 101 O32O315AYOO00O210 18.8 KIRCHHOFF WILLIAM E & AG AIC [Sanford]... CAMERON AVE 102 172O315A2O0O0O330 12.6 SERENGETI PROPERTIES LLC A-1 SE [Sanford], PINEWAY 103 032O315AY0OOO0840 9.2 FLAVIN JAMES P & ANN A A-1' SE 3755 BEARDALL AVE 104 172O315AZ000O0390 5.1 SERENGETI PROPERTIES LLC A-1 SE [Sanford] PINEWAY 105 08203130003300000 55 HOODA NAUSHIK & NEELA `A-1 5E, IND, I [Sanford]` 2247MARQUETTE AVE 106 08203130003600000 9.5 SANFORD ARPRT AUTH/CITY SANFRD A-1 AIC [Sanford] 2355 MARQUETTE AVE 107 0320315AY00OO0290 25.0 KIRCHHOFF WILLIAM E & A-Y AIC [Sanford] 3430 CAMERON AVE 108 032031S010COO0O40 5.0 GUTHRIE'MICHAEL'M & LINDA S A-1 CITY 4430 CANYON PT 109 0320315AY00000410 9.2 STRATEGICACQUISTIONSCORP AG AIC[SanfordJ BEARDALL AVE 110 33193130000500000 9:3 JBTT HQLDINGS INC M-1 IND 1980 N CAMERON AVE 111 33193130001580000 14.1 SEMINOLE2 INV LLC PUD PD BEARDALL AVE 112 33193130002500000. 9.5 ' MERIWETHER FARMS INC A-1 SE 3461 CELERY AVE 113 1720315AZ0000034B 10.1 SERENGETI PROPERTIES LLC A-1 SE [Sanford] PINE WAY 114 172O315AZ0O000410 9.8 WITTMER MICHAELO &'MARYCIN R' A-1 SE' __ 1805 PINEWAY DR 115 0320315AY00000530 18.6 SANFORD CITY OF A-1 AIC, PSP [Sanford] 3540 CAMERON AVE 116 0320315AY00000190 18.1 KIRCHHOFF WILLIAM E & AG AIC [Sanford] 117 ''08203130002900000 42.1 BENHAM BENJAMIN O TRUSTEE A-1 SE, I [Sanford] 2800 E LAKE MARY'BLVD 118 16203130000200000 ' 7.1 'ADAMSJOSEPH 1 &JUANITA V CO ' A-1 SE - ' 3739 SI,PES AVE' 119 17203150100000030 16.5 BRISSON INV LLC A-1 SE [Sanford] 120 3419313O0OO1A0000 15:4 WILKEJEAN E'& WILKEJOAN M 8c A-1 SE AVAILABLE PROPERTIES, DECEMBER 2008 LAKE MARY BOULEVARD EXTENSION Key Map Parcel ID 121 03203130000900000 122 03203150100000050 123 08203130003660000 124 1720315AZ0000035A 125 0320315AY000028A0 126 0320315AY0000059A- 127 03203130001300000.. 128 33193130002300000 129 0320315AY0000064A 130 27193150100000040 131 0320315AY00000580 132 1720315AZ00000420 133 0320315AY00000590 134 17203150100000010 135 04203130000900000 136 0320315AY00000870 137 17203150100000040 138 0320315AY00000900 139 33193130001300000 140 17203150100000080 141 03203130000500000 143 16203130000100000 144 10203130000480000 145 16203130000400000 146 0320315AYD000089A 147 04203130005000000 148 04203130003~A0000 149 0320315AY0000035A 150 0320315AY0000067F 151 04203130004900000 152 0320315AY000DD890' 154 341931300002F0000 155 0320315AY000027A0 156 03203130001580000 157 08203150100000130 158 0320315AY00000560 159 09203150101000010 160 07203150100000018 161 331931300015A0000 162 07203150100000010 Acreage Owner Zoning Future Land Use 10.2 STRATEGIC ACQUISITIONS CORP A-1 CRY 9.0 THOMAS RAY E & ETHEL M A-1 HIPAP 5.4 SANFORD ARPRT AUTH/CITY SANFRD A-1 AIC [Sanford] 9.4 SERENGETI PROPERTIES LLC A-1 SE [Sanford] 9.4 STRATEGICACQUISTIONSCORP A-1' ' IND 5.0 ALLEN HENRY & A-1' HIPAP 5.9 TAYLOR SAM G TRUSTEE A-1 HIPAP 6.2 RUSSELL JOHN F & JIMYE K M-1 SE, PD 6'.7 TAKVORIAN ANN A-1 . HIPAP ....16.5. MERIWETHER WILLIAM & R-IAA: LDR, SE 12.6 TAKVORIANANN - A-1 HIPAP 8.5 REYNOLDS.ROBERT C & CHERYL A-1 SE 10.8 ALLEN HENRY & A-1 :HIPAP 14.1 BRISSON INV LLC A-1 SE [Sanford] 14.6 BYERS FAMILY LTD A-1 AIC [Sanford], IND [County] 7.3 TAKVORIAN S THEODORE & ANN A-1 SE 16.3 BRISSONfNVILC A-1 SE [Sanford] 8.9 JAFFER SHAKIL A A-1 SE '.13.4 UNIROYAL CHEMICAL COMPANY INC _ M-1 SE 13.3 BRISSON INV LLC A-1 SE [Sanford] 5.9 BROOKS LAMAR _ A-1 IND 3.7 SEMINOLE B C C A-1 PUBC 4.9 SANFORD ARPRT AUTH/CITY SANFRD A-1 AIC [Sanford] 3:1 DENNEY BETTY L A-1 SE 4.4 POFFENBERGER HENRY L & NELLIE A-1 bE 2.1 AINSWORTH W D A-1 HIPAP 4.7 STEELE RICHARD-B & KIM R _. M-1 CITY 4.4 FONSECA PABLO & LEONOR A-1 AIC [Sanford], HIPAP [County] 1.8 YOUNG THELMA A-1 HIPAP 2.3 MC GONIGAL BRUCE D A-1 HIPAP 4.9 KING KEVIN P A-1 SE 1,9 KB HOME ORLANDO LLG A-1 PD 4.6 FERTAKIS INTERNATIONAL CONSTR A-1 IND 2.0 SANFORD ARPRT AUTH/CITY SANFRD RI1 AIC [Sanford] 2.1 FASCIANA ERNEST G A-1 IND 3.1 FORNASIER ALFREDO B & A-1 HIPAP 1.1 'GALLARDO MIGUEL & MIRIAM A-1 .HIPAP 3.4 SANFORD ARPRT AUTH/CITY SANFRD R-IAA AIC [Sanford] 4.9 JBTT HOLDINGS INC M-1 IND 2.0 R-IAA `AIC [Sanford] Property Address 2690 RICHMOND AVE MARQUETTE AVE 2850 RICHMOND'AVE CELERY AVE 3600 BEARDALLAVE PINE ST 2055 PINEWAY SIPES AVE W46SR JESSUPAVE BEARDALI/CEIERY BRISSON AVE 2541 CAMERON AVE 3145 CAMERON AVE 3845 SIPES AVE 3821 BEARDALL AVE 4026 HONEY BEE PT 2764 BEARDALL AVE MARQUETTE KENTUCKY ST MOORES'STATION RD 3791 BEARDALL AVE 415 MOORES STATION RD 3720 LAURA AVE BEARDALL AVE PINE ST HUGHEY ST #N/A AVAILABLE PROPERTIES, DECEMBER 2008 LAKE MARY BOULEVARD EXTENSION Key Map Parcel ID Acreage Owner Zoning Future Land Use Property Address 163 0320315AY00000550- 1.1 HARMAN DONALD. G & 6EORGANN A=1 HIPAP _ ___. 3257 E LAKE MARY BLVD 164 082031300032A0000 2.4 HUGHEY CAROLYNJ A-1 SE, IND [Sanford] KENTUCKY EXTST 165 0320315AY000026A2 4,7 FERTA`CIS INTERNATIONAL CONSTR A 1 IND 166 33193130013300000 - 4.1 'ACME PROPERTIES INC ' A-1 IND ' 3850E 46 SR 167 0320315AY00000640 ''1.3 '-TAKVORIAN ANN A-1 HIPAP - ' KENTUCKY ST 168 032031300008Fp000 I I1.9 - HEWITTOLSON ASSET RECQVERY A-1 IND: 169 0320315AY0000042A 3.8 STAPPE ELGAN A II A-1 AIC [Sanford], HIPAP [County] E LAKE MARY BLVD 170 0320315AY0000036B 2.4 FRANCIS LLOYD C & PATRICIA E A-1 AIC [Sanford] 2901 MARQUETTE AVE 171 0320315AY000OOOSE 2.3 POLOSKI STANLEY A & BELINDA G A-1 AIC [Sanford], HIPAP [County] S CAMERON AVE 172 0320315AY00000100 ' ' 1.6 SANFORD ARPRT AUTH/CITY SANFRD A-1 CITY 174 0320315010E000060 4.7 LAYER WILLIAM P & LUCY P 8c A-1 HIPAP [Sanford] E LAKE MARY BLVD 175 07203150305000010 1.9 SANFORDARPRTRUTH/CITY SANFRD R-IAA AIC.[Sanford] 176 03203130000400000 3.5 KING WALTER N A-1 IND. 2531 CAMERON AVE 178 042031300049A0000 2.2 A-1 HIPAP 179 1720315AZ0000041A 4.0 JOHNSON RICHARD E 1R & A-1 SE INGRAHAM AVE 180 17203130000480000 2.9 COLBERT WILLIAM L A-1 SE 181 0320315AY000O18A1'_ 4.8 'CORLEY CHARLOTTE R A-1 CITY 2820 5 CAMERON AVE 184 032031300012A0000 2.6 TAKVORIAN ANN A-1 HIPAP 185 0320315AY0000067C 1.5 WYNN ALEX JR A-1 HIPAP JESSUP AVE' 186 -08203150100000100 2.0 WARREN PATRICIA & JOHN E JR A-1 IND 3650 LAURA AVE 187 0320315AY0000062A 4.6 SIPES DEV LLC A-1 HIPAP KENTUCKY AVE 188 07203150303000010 1.9 SANEORD ARPRT AUTH/CITY SANFRD R-IAA AIC [Sanford] 189 0320315AY00000280 2.4 KIRCHHOFF WILLIAM E & AG AIC [Sanford] 190 0720315020A000010 3.0 SANFORD ARPRT AUTH/CITY SANFRD R-IAA AIC [Sanford] 1751 E AIRPORT BLVD 191 08203130003500000 _' 1.3 SANFORD ARPRT AUTH/CITY SANFRD. A-1 AIC (Sanford] MARQUETTE AVE 192 1720315AZ0000044A 4.5 BESTTED A & LAURA L A-1 SE 2425 PINEWAY 193 0320315AY00000360 2.5 RIVERA JOSEA & A-1 HIPAP 2927 SIPES AVE 194 0320315AY0000087B 1:6 MURDAUGH IAMES T & SARA- A-1 SE 195 08203150100000110 2.3 PARSONS JAMESCJR&THERESAG A-1 IND 3686 LAURA AVE 196 331931300123A0000 2.0 SEMINOLE COUNTY SCHOOL BOARD C-2 COM 197 33193130000700000 2.9 DESIN GEORGE W &DESIN A-1 SE N CAMERON AVE 198 08203150100000150 ' 2.2 ROGERS TERRYt & CHRISTINE C A-1 IND' 3740 LAURA AVE 199 331931511000DOD00 2.4 C-3 CITY t#N/A 200 1720315AZ0000033A' '_ ' 1.7 ' SERENGETI PROPERTIEStLC A-1 SE [Sanford] PINE,WAY 201 06203130000100020 4.9 PUD AIC [Sanford] AIRPORT 202 03203150100000080 4.9 BROOKSJOEW A-1 CITY 203 0320315AY00000430 3.3 KIRCHHOFF WILLIAM E & COLEMAN AG AIC [Sanford] HN/A 204 0320315AY0000061A 3.9 SIPES DEV LLC A-1 HIPAP KENTUCKY AVE 205 08203130002600000 _ 3.1 'BRADENKIP D & CYNTHIA L A-1 I [Sanford] ,- 2005 MARClUETTE AVE 206 10203130000100000 3.6 SANFORD ARPRT AUTH/CITY SANFRD A-1 AIC. [Sanford] MOORES STATION RD AVAILABLE PROPERTIES, DECEMBER 2008 LAKE MARY BOULEVARD EXTENSION Key Map Parcel ID Acreage Owner Zoning Future Land Use Property Address 207 04203130004800000 4.7 SANFORD ARPRT RUTH/CITY SANFRD A-1 AIC'{Sanford] 3945 MOORES STATION (3949) RD 208 0320315AY00000620 1.6 SIPESbEV LLC ' A-1 HIPAP 210 0320315AY000032A1 4.4 HILLJAMES W & ELIZABETH W A-1 HIPAP 2885 BEARDALLAVE 211 042031300044A0000 3.6 SAHR LLC A-1 HIPAP 3918 MOORES STATION RD 212 06203130000104530 2.1 SANFORD ARPRT AUTH/CITY SANFRD PUD AIC [Sanford] 2101 AIRPORT BLVD 213 0320315AY000026A0 ' 3.9 'CURLEY NOAL W & BETH MI A-1 IND- 2671 S CAMERON AVE 214 08203130002200000 2.8 ABDULHUSSEIN FAMILY LP A-1 LDRSF, MDR10, I [Sanford] OHIO AVE 215 0320315010E000020 4.7 SCHAMP B C A-1 HIPAP RICHMOND AVE 216 0320315AY000033A0 2.2 WINTERSTEEN GLORIA IDA M A-1 AIC [Sanford], HIPAP [County] 3885 MOORE STATION RD 217 0320315AY0000036A 4.7 DOAN KATHERINE A-1 HIPAP MARQUETTE (OFF) AVE 218 03203150106000050 '1.0 ' FLANNAGINALBERTI 'A-1 ' HIPAP 219 33193130012000000 2.1 ALLEN CHARLENE & ROSIER EULA C-3 LDR, COM [County], I [Sanford] BEARDALLAVE 221 0320315AY0000033B 1.0 HUNT KENNETH A-1 AIC [Sanford], HIPAP [County] . .3510 BEARDALLAVE 222 182031300004A0000 2.4 - WISDOM AVERYP PUD LDRSF, I [Sanford] 1403 EpINEWAY 223 0320315AY00000610 2.6 SIPES DEV LLC A-1 HIPAP KENTUCKY AVE 224 07203150301000010 2.2 SANFORD ARPRT AUTH/CITY SANFRD R-1AA> AIC [Sanford] 226 33193130013400000 2.8 GANAS GARY E & SANDRA W 7RS A-1 COM, IND 4000:E 46 SR 227 04203130003780000 3.7 SANFORD ARPRT AUTH/CITY SANFRD A-1 AIC [Sanford]. 2900 6EARDALL AVE 229 0320315AY000027A1 3.9 FERTAKIS INTERNATIONAL A-1 IND TOTAL 1,453.8 TIER 1 Properties TIER 2 Properties Lake Mary Blvd Extension - 2~°°° 4~00eet i '~ Phase 2 Report -December 2008 PART C: Marketing and Incentives -Findings and Recommendations Introduction In this document and the preceding Phase 1 report, RERC has: 1) presented a "Vision" for SeminoleWay; 2) identified through cluster analysis specific "target industry" sectors that hold promise for the corridor; 3) described facility and infrastructure requirements for those industries; 4) reviewed land use regulations and economic development policies within the county and partnering municipalities; and 5) performed initial "due diligence" on available land resources around SR 417 interchanges. From this point, it should be possible to structure an economic development strategy for advancing the SeminoleWay plan with policy-makers, land owners, developers, target industry representatives, and other stakeholders. While a solid and practical foundation of useful information has been compiled, there remains much to be done to complete and monitor a definitive plan of action for achieving the goals set forth at the beginning of this analysis: • A plan based on realistic economic opportunities for the Corridor, blending public resources, private business interests and education; • Attraction of businesses that add to the County's quality of life through stable investment, high-wage employment, environmentally friendly development, and support for the existing economic base; • Expansion of the Gounty's non-residential ad valorem tax base and other revenue sources; • Provision of appropriate land use controls and comprehensive plan policies throughout the Corridor to allow desirable "high value/high wage" businesses to find a place in the county; • Land owners understanding the vision of SeminoleWay and "buying in;" • Certainty that infrastructure resources, policies, and incentives are aligned at county and municipal levels to enhance the chances of achieving the economic development vision. A plan without an "agenda for action" will remain simply interesting reading material and forever unrealized. In order to become manifest, a plan must supplement knowledge with directed actions that bring about "implementation." The SeminoleWay initiative is intended to be a long term effort to capitalize on apparent opportunities with forethought and strategic actions. In the following pages, RERC outlines a general "road map" of critical steps for moving forward and describes the "tool kit" of incentives which might be employed to attract and retain the target industries already identified as crucial to the county's economic future. C-1 SeminoleWay "Critical Path" to Implementation Moving forward from the completion of this Phase 2 analysis includes the most immediate next steps of achieving "buy-in" from political leadership and other stakeholders within the county and the partner municipalities; preparing and promoting information packages that demonstrate the dynamic elements and opportunities within the SeminoleWay corridor; and initiating conversations with potential businesses and developers about specific projects within the corridor. The outlook for successful implementation of the ideas already generated by this study as well as county staff and other stakeholders is certainly long term, but RERC suggests the following activities over the next 12 to 24 months to keep momentum in the planning concepts moving forward: C-2 1. Review the findings and recommendations of Phase 1 and Phase 2 of the analysis with the chamber's overview committee and the county's Board of Commissioners. 2. Review the findings and recommendations of the study with leadership of the three partner municipalities to insure open lines of communication and sharing of ideas. 3. Present the findings and recommendations with primary stakeholders within the SeminoleWay corridor, including at least potentially affected landowners and major businesses. 4. Make the findings and recommendations of the study available to the interested public by placing key findings or links on the county's web site. 5. Identify "target" industries and businesses within Seminole County (and elsewhere) that might have an interest in the findings of the studies and solicit their interest and feedback. 6. Share information regarding the availability and suitability of properties with targeted businesses and appropriate real estate developers who can provide the necessary facilities for targeted businesses. 7. Prepare concise marketing packages for use in soliciting or following up on investor interest within the SeminoleWay corridor, 8. Prepare proposals for significant land owners in the corridor that outline potential development concepts as well as county/city .commitments (e.g., planning, financial, marketing) to further the vision and objectives of the SeminoleWay plan. 9. Set up a property monitoring system within the interchange focus areas to keep track of existing or new properties that are available and suitable for target industry development. 10. Follow up on specific economic development project opportunities identified in this study or through stakeholder reviews (e.g., commuter rail station areas, adaptive reuse of under-utilized properties and/or buildings, development in the airport influence zones, incubator projects, etc.). It is important to reiterate that most next steps associated with implementing the SeminoleWay Plan revolve around communication. More specifically, the challenge is to communicate the opportunities associated with the SeminoleWay corridor to all stakeholders. An inherent strength of the SeminoleWay Plan is that no concerted capital investment plan is needed to realize the vision, however, the ability to efficiently communicate and stick to the vision over the long term will be essential. C-3 Economic Development "Tool Kit" In the SeminoleWay Phase 1 report there is a brief summary of economic development resources supporting development within the SR 417 corridor, including public infrastructure, education, financial, and regulatory resources. Generally speaking, the infrastructure, education, and regulatory resources are major positive forces that are consistent with the findings of the target industry analysis and related facility requirements. In the following pages, RERC has briefly summarized and expanded list of state and local financial incentives, along with employee training programs and expedited permitting and project review procedures that are important to potential businesses and developers of high value, high wage industries in Seminole County. Qualified Target Industry Tax Refund The Qualified Target Industry (QTI) Tax Refund is a tool available to Florida communities to encourage quality job growth in targeted high value-added businesses. Pre-approved applicants who create jobs paying an average annual salary 115% of the county's average wage* may receive tax refunds of $3,000 per new job created. (Companies paying an average annual wage exceeding the area's average by 150 percent are eligible for $4,000 per job and if the average annual wage is in excess of 200 percent, $5,000 per new job created.) New or expanding businesses in selected targeted industries creating a minimum of 10 new jobs are eligible. The incentive must be proven a necessity for the company to locate or expand in Florida and there must be local support, Quick Response Training The Quick Response Training Program (QRT) provides grant funding for customized training to new or expanding businesses. Criteria to qualify is the same as QTI, Training can be provided by quality institutions such as universities, community colleges and technical centers or the company's own staff. Grants normally range from $600-$1,000 per new employee trained. Incumbent Worker Training The Incumbent Worker Training Program (IWT) provides grant funding for training. Florida businesses (excludes non-profits) needing to upgrade the skills of their existing full-time employees are eligible. Grants typically average $100- $400 per employee trained. Economic Development Transportation Fund (EDTF or Road Fund) The "road fund" is administered by the state in cooperation with an appropriate local government jurisdiction. Depending on the number of jobs being created, the grant program provides up to $2,000,000 for the construction or improvement of transportation infrastructure including roads, runways and traffic signals. Industrial Revenue Bonds/Industrial Development Bonds Industrial revenue bonds (IRBs) can be issued for the purpose of financing the costs of projects, which may include purchase of an existing industrial or manufacturing plant, construction of a new facility and/or purchases of new equipment. The minimum recommended amount for an IRB is $1.25 million and C-4 cannot exceed $10 million in most cases. The bonds can be issued for longer terms and at lower interest rates, usually 1 % below prime, and are tax exempt. Enterprise Bonds This tax exempt financing program is managed by an independent corporation that provides tax-exempt funds to small manufacturers for the purchase of land, buildings and capital equipment. Loans between $500,000 and $2.0 million are available. Borrowers are placed in a larger pooled bond issue that is then sold by the corporation. The pooling of loans helps defray the cost of issuance which might otherwise make it the process uneconomical. Sales Tax Exemptions: Electricity ~ Steam -Exemptions from sales tax may include charges for electricity or steam used directly and exclusively at a fixed location to operate machinery and equipment used to manufacture (process, compound, or produce) items of tangible personal property for sale. Manufacturing 8~ Processing Equipment - Qualifying machinery/equipment used to produce a product for sale is now exempt from sales tax. Seminole County Jobs Growth Incentive The Board of County Commissioners has established a Jobs Growth Incentive Trust Fund for both new and existing companies within targeted industry sectors. Seminole County will consider providing upfront cash incentive dollars for items such as training, permit fees, relocation costs, equipment purchases, building construction, and any other legitimate business expenses. Companies must satisfy selected job creation and wage criteria. Preference is given to new construction and to companies locating in targeted areas within the County. This program is typically used in lieu of QTI, for QTI-ineligible companies. Awards provide up to $2,000 per new job created. Impact Fee Deferral Program Allows a company to defer payment of impact fees (except school impact fees) from the date of issuance of building permit to issuance of a certificate of occupancy or time of power, whichever comes first. Fast Track Permitting Expedites the local permitting process for targeted industries. Citv Programs: City of Altamonte Springs -The City offers development incentives that reduce building and impact fees for qualified new construction projects within the Central Business District. To qualify, commercial and office projects must be at least 100,000 square feet and mixed-use projects must be at least 150,000 square feet. Cities of Casselberry, Lake Mary, Longwood, Oviedo, Sanford, Winter Springs -These cities are willing to partner with Seminole C-5 County to create an incentive package for projects on a case-by-case basis. For additional information regarding business assistance in Seminole County, visit: www.businessinseminole.com or www.OrlandoEDC.com University of Central Florida Incubation System Business incubation systems are programs, services and facilities designed to support entrepreneurial start-ups and emerging businesses within specific business sectors. Incubation systems offer subsidized facilities space, management, contacts, business development services and other support services intended to assist local economic development efforts and foster the commercialization of academic and creative research. Beginning in 1999, the University of Central Florida has partnered with local communities, the Florida High Tech Corridor Council and the United States Department of Commerce's Economic Development Administration to create the UCF business and technology incubation system. The UCF incubation system directly administers five incubators over six facilities throughout Central Florida. In addition, The Seminole Business Technology Incubation Center in Sanford possesses UCF affiliation. The mission of the UCF incubation system is to "provide early stage companies with the enabling tools, training and infrastructure to create financially stable high growth enterprises." As of late 2007, the UCF incubation system has serviced and housed approximately 90 emerging companies, including approximately 50 current clients. To date, nearly 30 companies have successfully graduated the incubation program. According the National Business Incubation Association (NBIA), companies that participate in a university sponsored incubation program enjoy a graduation rate of approximately 70 to 80 percent, and 87 percent of all businesses that successfully complete the incubation program are still in business five years after graduation. UCF reports that its incubators graduates have created over 900 new jobs boasting more than 200 million in annual revenues. NBIA research has shown that for every two jobs directly created in an incubator an additional job is indirectly created within the community. Furthermore, approximately 85 percent of the successful incubator graduates choose to locate their company within the local community after graduation. Fiscally, incubators also represent sound community investment. The NBIA estimates that for every $1 of public operating subsidy provided by local communities, clients and graduates of incubator programs contribute approximately $30 in total local tax revenue. The UCF incubation system's facilities total more than 80,000 square feet of space throughout Central Florida. The following map illustrates their location. University of Central Florida Technology Incubator (UCFTI) The UCFTI was the original UCF incubation facility established in 1999. UCFTI consists of two facilities located within the UCF research park, an approximately 7,000 square C-6 foot facility on Research Parkway and a 40,000 square foot facility on Progress Drive. As of 2007, 23 companies have graduated from the UCFTI program and created more than 800 jobs. The UCFTI typically accommodates high technology oriented business requiring 1,000 to 7,000 square feet for 10-20 person operations. The UCFTI is a partnership between UCF, Orange County, the Florida High Tech Corridor Council and Metro Orlando Economic Development Commission. Photonics Incubator The UCF Photonics incubator is located on the UCF campus at the Center for Research and Education in Optics and Lasers (CREOL) facility. The incubator facility, which opened in 2005, possesses approximately 21,000 square feet of space. The partially occupied space currently hosts four client companies, with one company slated for graduation. The mission of the photonics incubator is to foster commercialization of the research and development underway at CREOL. The photonics incubator is a partnership between UCF, the City of Orlando, the Florida High Tech Corridor Council and the U.S. Department of Commerce Economic Development Administration. Orlando Business Development Center/District 2 Incubator Located near the Orlando Executive Airport on Colonial Drive, the Orlando Business Development Center is a partnership between the UCF, the City of Orlando and the Florida High Tech Corridor Council. The Business Development Center is focused primarily on servicing non high tech start ups. Phase one of the program includes 2,000 feet of office space which is currently fully leased to three incubator clients. Phase two, scheduled to open in late 2008, will possess an additional 4,000 feet of office space. The OBDC offers an entrepreneurship development program, business enhancement classes and onsite coaches and mentors. UCF Incubator -Seminole Countv/Winter SQringss Opened in the summer of 2008, the Seminole County/Winter Springs incubator possesses approximately 10,000 square feet of space within the Vistawilla Office Center building on State Road 434 near the intersection of State Road 417. The incubation facility is predominantly leased to incubation clients and includes flex office space, conference rooms and shared reception rooms and office equipment. The incubator is a partnership between UCF, Seminole County, the City of Winter Springs and the Florida High Tech Corridor Council. Downtown Orlando Incubator The Downtown Orlando incubation facility is located on North Orange Avenue and offers approximately 4,000 square feet of office/incubation space to technology and high growth companies that can benefit from a downtown location. Seminole Business Technology Incubation Center (SBTIC The SBTIC is a partnership between Seminole County, Seminole Community College and UCF. Though not directly administered by the UCF incubation program, SBTIC clients have available all business development services offered by UFCIP. The facility, C-7 which opened in Sanford in late 2000, possesses 10,500 square feet of incubator space currently serving 11 general technology incubator clients. The following map illustrates the locations of the UCF incubators in metropolitan Orlando in December 2007. Location of Metro Orlando Technology Incubators, December 2008 ,- _ .. y ,,-" Seminole Business Tech. Incubation Center ~ ~ lowoa -..• - _ ~• - ake M nroe ~ ~ i , ~~ ~ :.- i, 9ElYW'AY gpfOCt~LCELEfi.Y_/nYE~-- 7Aw>aMR 16A _ Ln ~.U~ 11t < .-- `zl EqS~.. 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