AGP Executive Report

Auto Retail & Franchising: Driven Brands’ portfolio—built on brands like Meineke and Take 5—keeps expanding through franchising, with the company ranking No. 2 in auto glass services as it grows its U.S. footprint. Medicaid Spending Watch (Florida): New federal data show Medicaid dental bills rising in Hollywood ($118,405 in 2024, +3.2%), while Aventura’s “Temporary National Codes (Non-Medicare)” jumped to $191,203 (+94.9%) and Sweetwater’s alcohol and drug treatment claims climbed to $2.26M (+96.2%). Local Health Costs (Medicaid): Coral Gables saw administrative/misc/investigational spending surge past $162,000 (+280.8%), and Chipley’s Medicaid dental claims jumped to $15,416 (+473.5%). Education & Aid Access: Martin County won the 2025–26 Florida FAFSA Challenge MVP after boosting completion by 4.8 points, supported by community partners. Space & Florida Economy: NASA launched the $4B Nancy Grace Roman Space Telescope from Kennedy Space Center on a SpaceX Falcon Heavy. Housing Pressure: Florida logged 3,277 new foreclosure starts in July, ranking third-highest foreclosure rate nationwide, with South Florida auction activity continuing to show distress. Workforce & Pay: Florida Poly’s STEM majors align with the nation’s top-paying fields, led by computer engineering and computer science. Business Real Estate: Merritt Properties bought Jacksonville’s Center Point Business Park, nearly doubling its local industrial footprint.

Stablecoin Shake-Up: JPMorgan is weighing a stablecoin while state banking groups push a shared blockchain plan for 2027, signaling big-bank competition is moving from theory to execution. Crypto Banking Watch: A Trump-linked crypto bank won a federal charter tied to a major UAE backer, raising fresh questions for Florida investors watching regulatory risk. Medicaid Billing Signals: Florida local Medicaid spending shows sharp swings—Cooper City DME MACs jumped 109.4% in 2024, Deland vision services rose 174.3%, and West Melbourne DME MACs surged 593.9%—a reminder that health-care costs are still reshaping budgets at the provider level. Local Government Procurement: Sanford is modernizing purchasing with PlanetBids for about $64M in annual activity, aiming to streamline bids, vendor tracking, and contract administration. Insurance Cost Pressure: A Highlands County school board debate highlights rising health insurance losses and the search for ways to fund wellness and clinic-related costs. Consumer Fraud Snapshot: New Port Richey logged 14 scam reports in July, with losses totaling about $567, underscoring ongoing fraud pressure on households.

Property Tax Relief Watch: Florida Amendment 3 would boost homestead exemptions for non-school property taxes in Brevard, with the exemption rising to $150,000 in 2027 and $250,000 in 2028, plus a non-homestead assessment cap cut from 10% to 5%—but local experts warn the total bill won’t always track the headline. Tax Collector Scrutiny: Sarasota auditors say newly elected Tax Collector Mike Moran’s $100,767 “transition services” payout violated state law, alleging PACE Funding Agency kept no records showing he performed the work. Fraud & Consumer Risk: BBB Scam Tracker data shows Venice among Florida cities with 10 scam reports in July 2026, and the FTC says fraud losses hit $12.5B in 2024. Retirement Income Snapshot: New ZIP-level Social Security counts highlight Florida’s aging footprint, with multiple Central Florida and Gulf Coast ZIPs reporting thousands of beneficiaries. Banking/Finance Tech: A nationwide industry-owned blockchain network for banks is set to launch in 2027, signaling more push toward stablecoin and on-chain payments. Hurricane Season Prep: Florida CFO urges residents to review insurance ahead of peak hurricane months as another Atlantic disturbance forms near the Gulf.

AI Data Center Policy: Pinellas County commissioners moved to put in writing that large-scale, standalone data centers are already prohibited in unincorporated areas, aiming to protect industrial land, utilities, and residents’ power and water concerns. Flood Infrastructure: Pinellas also backed a federal feasibility study for the aging Lake Tarpon outfall, as higher tides and stronger storms stress the 1969 flood-control system. Housing & Education Finance: South Florida State College is pushing toward a student housing push, with trustees weighing a new funding-focused structure to unlock dorm capacity. Labor Market Watch: Florida’s unemployment rate dipped to 4.6% in July for a second straight month, with job gains in health care, hospitality, manufacturing and construction. Foreclosure Pressure: ATTOM reported 39,906 U.S. properties with foreclosure filings in July—up 10% year over year—with Florida among the higher-rate states. Space & Markets: SpaceX shares fell about 30% from post-IPO highs, with IPO history suggesting more downside could follow.

Florida Gambling Crackdown: Florida AG James Uthmeier filed lawsuits targeting online “sweepstakes” operators and the payment processors enabling them, arguing the platforms function like illegal casinos and raising fresh compliance risk for banks and card providers. Cyber Risk for Lenders: Lennar and its mortgage unit are facing a surge of class action complaints after two data breaches involving more than 350,000 potential victims, underscoring how cyber incidents are turning into legal and reputational costs for mortgage players. Local Tax Pressure: Oviedo is weighing major budget cuts if Amendment 3 passes, with staff projecting a $14.3 million ad valorem revenue reduction over two fiscal years. Public Finance Watch: Key Biscayne officials warned Amendment 3 could create multi-year funding shortfalls, with estimated village-wide gaps growing from about $1.05 million to about $2.25 million. Big Deal for Tampa Bay: The Tampa Bay Rays cleared final local hurdles for a new $2.3 billion stadium, with county and city approvals moving the project toward a 2029 opening. Energy & Grid Policy: Florida’s new law on large-load data centers is getting its first real test in a Duke Energy Florida tariff case, as regulators debate whether data centers will pay their full cost of service. Market Mood: Gold prices cooled after hawkish Fed signals, with investors watching for rate-hike odds to drive volatility.

UEFA vs. FIFA Legal Fight: UEFA says it’s preparing a Swiss criminal complaint against FIFA chief Gianni Infantino for “criminal mismanagement” tied to his scrapped plan to sell stakes in World Cup profits to private investors, and it’s seeking discovery in U.S. courts including a request aimed at FIFA’s Miami-area office and Thrive Capital (Josh Kushner). Florida Health & Finance: A new Florida Policy Institute report warns that a Nov. 3 property tax cut measure (Amendment 3) could cost public hospital districts and health systems about $323M over three years, with major hits projected for Sarasota Memorial and Jackson Health. School Lunch Costs: After cutting $660M from farm-to-school programs, the Trump administration is rolling out smaller grants; Florida would have received about $42.6M under the canceled program, but districts say the new funding won’t close the gap. IVF Affordability: Americans are increasingly going abroad for IVF as U.S. costs stay high and coverage gaps persist, even as new grant efforts offer limited help. Local Banking: Crews Bank & Trust broke ground on a new Englewood branch, touting upgraded services and a community-focused rollout. City Management: High Springs commissioners voted to move on from city manager Jeremy Marshall, approving a $15,000 severance and seeking interim help.

Soccer Finance/Legal Fight: UEFA is seeking FIFA documents in U.S. federal court tied to a potential Swiss criminal complaint against Gianni Infantino over FIFA’s abandoned plan to sell a $4.2B stake in a World Cup commercial venture, with filings targeting FIFA entities tied to Florida and investor Thrive Capital/Joshua Kushner. Health Insurance Shock in Southwest Florida: Lee Health says it will stop accepting UnitedHealthcare as in-network starting Jan. 1, citing a $100M+ backlog in disputed claims and patients facing delays and higher out-of-pocket risk. State Budget/Policy: Florida becomes the first state to restrict cash welfare benefits from being used for tattoos, vaping, pornography and video games, after federal approval of the updated Temporary Cash Assistance rules. Banking/Dividends: Capital City Bank Group declared a $0.27 quarterly dividend (payable Sept. 22). Auto Insurance Rates: Root says it cut Florida auto premiums by 15% on average, pointing to 2022–23 insurance reforms. Corporate Finance: ARMOUR Residential REIT set its September 2026 dividend at $0.24/share. Markets: Nvidia’s strong results lifted U.S. tech stocks while investors watched Fed officials ahead of Jackson Hole.

Meta Settlement: Florida’s AG James Uthmeier is pushing back on Meta’s massive child-safety deal, after the company agreed to pay up to $18B nationwide; a Florida mother says the payout is “not enough” for her son’s death, while Florida remains set for a jury trial. Housing & Credit Stress: New ATTOM data shows foreclosures rising in the Sun Belt, with Florida among the highest-rate states—an early warning for lenders and loss-mitigation teams. Banking Tech: Florida bankers are helping launch BankChain Alliance, a bank-owned blockchain effort targeting a 2027 network for tokenized deposits and stablecoin-style payments. Local Finance Watch: Daytona Beach Mayor Derrick Henry says he’ll take a state audit’s findings to residents, after concerns over spending and permit revenue. Healthcare Contract: Lee Health will not renew its UnitedHealthcare contract, making those patients out-of-network starting Jan. 1, 2027. AI Governance: St. Petersburg is holding an AI open house to update city guidelines with resident input. Aviation & Capital Markets: Willis Lease Finance will expand engine repair capacity with a new Malaysia center, and Proxima Wealth Partners launches on Concurrent’s platform.

Markets Watch: U.S. inflation stayed “sticky,” nudging the dollar and Treasury yields higher while Wall Street traded mostly flat as investors awaited Nvidia results and a Fed Chair keynote. Consumer & Fraud: Uber fully refunded a Florida bakery after viral claims a courier failed to deliver about 300 cinnamon rolls worth over $3,000. Corporate Moves: Future FinTech Group approved a 1-for-4 reverse stock split filed with Florida’s Division of Corporations, with new Nasdaq trading on Aug. 31. Banking & Business: Jacksonville-based Cadre Holdings said its President and CFO will join major investor conferences in September. Policy & Tech: Meta agreed to pay states up to $17.1B over teen social media addiction claims, with Florida’s AG heading to trial over teen harm. Local Government: Hialeah’s cabinet meeting highlighted pool re-openings, firefighter pay, and street cleaning amid ongoing pool closures. Public Safety: A man was convicted in Jacksonville Beach of arranging the murder of a Microsoft manager in a custody-fueled plot.

Hurricane Aid Funding Crunch: A new Florida Policy Institute analysis warns a “perfect storm” for recovery: Constitutional Amendment 3 could cut about $12B from local governments, while a FEMA review would reduce public-assistance reimbursement from 75% to 50%, pushing more debris cleanup and infrastructure repair costs onto counties. Campus Protest Rights: A federal judge temporarily blocked FIU from enforcing its indoor protest ban, ruling it likely violates the First Amendment for students who staged silent opposition to the school’s cooperation with federal immigration authorities. Banking & Payments Tech: Thirty-nine state banking associations formed BankChain Alliance, aiming for a 2027 industry-owned blockchain network for tokenized deposits, regulated stablecoins, programmable payments, and automated settlement. Healthcare Investment: Moffitt Cancer Center launched a new radiopharmaceutical program backed by a $600M investment tied to Speros in Pasco County, targeting faster radiopharma research and clinical translation. Real Estate & Hotels: Tampa Bay is seeing a fresh wave of hotel openings and renovations, including Pendry Tampa and a Curio Collection by Hilton on the Riverwalk. Insurance/Consumer Risk: FDACS is investigating reports that a Westlake Mobil station allegedly dispensed diesel at premium-gas pumps, with drivers claiming catastrophic engine damage.

Florida Healthcare Costs: Florida is feeling the squeeze after enhanced ACA subsidies expired, with about 440,000 Floridians dropping coverage—leaving more residents facing higher premiums, delayed care, and bigger medical bills. Disaster Response Scrutiny: A federal watchdog says FEMA crews skipped 11 homes with Trump signs during Hurricane Milton recovery in 2024, raising fresh questions about how disaster aid is delivered. Banking & Wealth: Cogent Bank in Orlando launched a trust services division aimed at high-net-worth clients, signaling a push to deepen relationships as Florida’s wealth grows. Accounting & ESG Pressure: Sixteen state AGs, including Florida’s, urged the Big Four to rein in climate/ESG-focused reporting demands they say could raise costs for consumers and small businesses. Energy Rates vs. Data Centers: Florida’s PSC is weighing Duke Energy’s plan to shift data-center power costs onto a new large-load tariff class—an early test of the state’s data-center rules. Affordable Housing Finance: McDowell Housing Partners started construction on Ekos at Bayonet Point II in Pasco County after closing tax-exempt bond and tax-credit financing for 360 affordable units. Local Elections: Opa-locka voters head to the polls Nov. 3 to choose between Commissioner Natasha Ervin and former Commissioner Rose Tydus, as the city tackles redevelopment, housing, and public safety. Business & Growth: Wild Fork Foods is set to replace the former Boston Market in Seminole, expanding specialty grocery options in the Tampa Bay area.

Procurement & Local Finance: Sanford is moving about $64 million in annual purchasing to a new digital procurement system with PlanetBids, aiming for tighter oversight, vendor management, and a clearer audit trail for Sunshine Law compliance. Housing & Property Taxes: Orlando scrapped a multi-million-dollar master plan for Harry P. Leu Gardens, citing community feedback and uncertainty around Amendment 3 and future property tax revenue. Real Estate Watch: Florida home sales rose in July for the 11th straight month, with statewide single-family sales up 5.1% and condo/townhouse up 11.0%, though several major metros saw declines. Campaign Money & Voters: Florida Democrats acknowledge they’ll need major catch-up funding for the general election after Angie Nixon won the Democratic U.S. Senate primary despite being outspent heavily. Scam & Consumer Safety: A Volusia County case shows how a Wells Fargo impersonation scam led a woman to withdraw $8,000—until deputies tracked the Uber courier and arrested the suspect. Education Funding: Trump expanded 529 education savings accounts to cover homeschooling costs, doubling the annual withdrawal limit to $20,000.

Workers’ Comp: NCCI is recommending Florida workers’ compensation rates drop an average 7.4% starting Jan. 1, 2027, driven by fewer lost-time claims—though the state insurance commissioner still sets final rates. Unclaimed Property: California lawmakers are debating a bill that would tighten how the state can seize abandoned stocks and mutual funds, with business groups pushing for clearer notice rules. Elections & Mail Voting: The U.S. Supreme Court paused a lower-court block on parts of President Trump’s mail-voting directives, but legal and operational hurdles remain as absentee voting nears. Florida Fraud & Scams: BBB Scam Tracker data shows Eustis tied for 99th in Florida scam reports in July, with losses totaling about $5,726. Banking/Business: ServisFirst Bancshares’ bank unit ranked sixth among top-performing U.S. banks (assets $10B–$50B) based on three-year ROAE. Public Finance/Infrastructure: The Coast Guard awarded a $60M contract to repair and modernize Sector St. Petersburg waterfront facilities after Hurricane Helene, targeting completion in 2028. Local Clean Tech: Coconut Creek launched Florida’s first fully electric residential recycling and waste collection fleet with six EV trucks from Republic Services.

Banking & M&A: Big banks are eyeing regional lenders again as regulatory doors swing open, with Citigroup and Wells Fargo seen as the most likely megabank acquirers under deposit caps. Insurance & Housing Risk: Florida’s coastal flooding and new flood maps could shift insurance rates, while a separate push highlights how homeowners are paying for storm risk—often without realizing it. Public Finance & Benefits: SNAP benefit timing for Florida’s August 2026 rollout is spelled out, as enrollment is also reported to be dropping faster than expected. Higher Ed Finance: Saint Augustine’s University pauses planned fall programs while working through bankruptcy proceedings after losing access to federal aid. Tech, Data & Privacy: Flock Safety surveillance tech faces growing backlash after a Florida officer allegedly used access to log hundreds of unauthorized vehicle lookups. Energy & Infrastructure: Arizona’s grid battery buildout is accelerating, adding more storage than most states and tying Florida for solar momentum. Local Real Estate: West Palm Beach’s Mr. C Hotel & Residences reports 85% sales as downtown luxury development continues.

Florida Scam Watch: BBB Scam Tracker put Jay among 39 Florida cities tied for 126th in July, with two reported scams and $9.99 in losses—online purchases were the most common type. Consumer Fraud Context: The FTC says Americans reported losing $12.5B+ to fraud in 2024, up 25% year over year. Local Business Update: Sarasota County is working to reopen Snook Haven this fall after an $8.75M park upgrade, with negotiations still underway with the likely concession operator. Retirement Planning: A new explainer highlights TFRA strategies—using permanent life insurance cash value via loans—to potentially create tax-free retirement income for people making Social Security and distribution decisions around ages 65–68. Cybersecurity Reminder: A Florida-based digital forensics expert warns young people to avoid risky links on mobile and understand how malware can spread to home networks and banking accounts. Climate & Housing: Babcock Ranch in Punta Gorda is pitching itself as a climate-resilience innovation hub after proving “hurricane resistant” design during Hurricane Ian.

Space Coast Jobs & Manufacturing: Relativity Space says it plans to build a manufacturing facility for its Terran R rocket near Cape Canaveral and hire thousands by 2034, a move local leaders say could reshape North Brevard’s economy. Coastal Flooding & Insurance Pressure: Florida is pushing new building and planning approaches to deal with sea level rise and more frequent extreme coastal flooding, a theme that matters for property owners and insurers. SNAP Enrollment Drop: Federal food aid enrollment fell more than 13% over 12 months as new work and paperwork rules take effect, with advocates pointing to administrative hurdles and faster-than-expected losses. Fraud & Investor Risk: A Boca Raton couple was sentenced in a $50M real estate investment fraud, including claims they diverted investor money and used new funds to pay earlier investors. Local Land-Use Watch: Venice’s City Council will hear an appeal tied to Ajax Paving’s campus expansion, including a dispute over changing an easement. Markets & Materials: Copper prices climbed on supply concerns tied to rising demand from AI data centers and power infrastructure. Consumer/Compliance: Florida property and casualty licensees are being urged to attend a class on new compliance updates. Public Safety: Gulfport’s police weekly activity report highlights arrests and calls for service, including a bank-related ATM fraud report.