The Laker/Lutz News

Nevada

The Shops at Wiregrass sold to QIC

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The Shops at Wiregrass in Wesley Chapel is among 10 regional malls that will be sold by Forest City Realty Trust, Inc., for a total of about $3.2 billion, according to an announcement by Forest City.

The buyer is Australia-based QIC, an investment partner of Forest City. QIC currently owns about 49 percent of the Wiregrass mall, with Forest City holding 51 percent ownership, according to Greg Lenners, the mall’s general manager.

The Shops at Wiregrass is being sold, along with nine other regional malls, but it will be business as usual for shoppers and merchants. (File)

QIC has been a partner with Forest Realty for about two years, Lenners said.

“As far as merchants at Wiregrass and customers, nobody will notice anything different,” Lenners said. “You’re not going to see any changes other than ongoing improvements at center court.”

In other words, it’s business as usual.

The sale of six of the malls, including Wiregrass, is expected to close by the end of the year for about $1.24 billion. No information was provided on the value of the individual malls.

The remaining four malls will be sold for about $1.93 billion as Forest City “secures replacement assets,” according to a news release about the sale.

Many of the malls are in California, with others in Pennsylvania, New York, Virginia, Nevada and West Virginia.

Per the agreement, Forest City will transfer its retail operations, including most of its personnel, to QIC.

So far, leasing, marketing, tenant coordination, legal and human resources have been transitioned to QIC. Accounting, property management and other functions will transfer as closings are completed.

“We view the U.S. real estate market and the retail sector in particular as a strong investment opportunity,” said Steve Leigh, in a written statement. He is QIC’s managing director of global real estate.

QIC began its partnership with Forest City in 2013.

Once the sale of the 10 malls to QIC, and the company’s New York specialty retail centers to Madison International is complete, Forest City will no longer have shopping centers in its portfolio.

“We are very pleased to achieve this key milestone with our partner,” said David J. LaRue in a written statement. LaRue is Forest City president and chief executive officer. “This transaction is a win-win for all parties, as we continue to focus our business on urban residential, office and mixed-use assets, and QIC acquires full ownership of a U.S. retail presence with high quality regional malls in strong markets.”

For more information, visit Forestcity.net.

Published Oct. 11, 2017

 

Graduation rates in Pasco, Hillsborough, near state average

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Pasco County Schools is making progress toward raising graduation rates in its system, but a new report from the GradNation campaign shows that there is still some ways to go.

Pasco is graduating 77 percent of its high school students while the Hillsborough County School District is graduating 73 percent — both nearly in-line with the state average of 75 percent. Yet, there is some silver lining for Pasco, which has a graduation rate near that of Osceola, Lake, Collier and Sarasota counties, and not too far behind leading counties like Brevard and Seminole among the most populated school districts.

Graduation rates in Florida as a whole have been steadily rising over the past decade, from 57 percent in 2003 to 75 percent in 2012. Yet, those rates are still among the lowest in the nation, beating only Alaska, the District of Columbia, Georgia, Louisiana, Nevada, New Mexico and Oregon.

GradNation arrived at the numbers using what it called the Adjusted Cohort Graduation Rate, which tracks a group of students who enter high school together and graduate “on-time” with a regular diploma. The rate accounts and adjusts for students who transfer in or out of the school, or who pass away.

Retired Gen. Colin Powell, who serves as founding chair for America’s Promise Alliance — one of the participating groups in the study — said in a letter with wife Alma Powell that nationwide, school graduation rates are climbing. However, to reach the 90 percent level, there is still more work to be done.

“Despite our gains, far too many young people still do not earn a high school diploma, and the number of non-graduates remains alarmingly high among young people of color, and those from low-income communities,” the Powells wrote in the letter. “In other words, a young person’s chances for success still depend too much on his or her ZIP code and skin color, and too little on his or her abilities and effort.”

The report was commissioned by Civic Enterprises, Everyone Graduates Center at the School of Education at Johns Hopkins University, and America’s Promise Alliance for Excellence Education. Efforts were put together after graduation rates had plateaued over a three-decade period. In the last 10 years, however, national graduation rates have climbed more than 10 percent, with a goal to move another 10 percent ahead by the Class of 2020.

Florida ranks fourth in best taxpayer state survey

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There are a lot of reasons to live in Florida: sunshine, beaches, Walt Disney World … and taxes?

When it comes to the best states to be a taxpayer, Florida is ranked among the best with an average annual state and local tax payout of $3,648.

That makes Florida fourth in the nation, according to a new survey from WalletHub. Only Wyoming, Alaska and Nevada are better. It’s some good news, at least, as we head into the deepest part of tax season.

WalletHub looked at how state and local tax rates compared to the national median in 50 states and the District of Columbia. The company looked at who had the highest and lowest tax rates, how they compared to the median, which states offered the most value in terms of low taxation and high cost-of-living adjusted income levels.

The study found Florida paid 48 percent less in taxes than the national median. Wyoming, where the tax burden is just over $2,300 annually, is 66 percent lower than the national median.

The worst state to live when it comes to taxes? New York, where residents can see tax bills as high as $9,700 on average — 40 percent over the median.

Where do other states rank? See the interactive map below, courtesy of WalletHub.

WalletHub

Bellamy Brothers sing for Pasco High School

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When they attended Pasco High School, they were simply David and Howard. Nearly a half-century later, they’re back, but now as the popular country music duo The Bellamy Brothers, all to raise money for their alma mater’s sports programs.

The Bellamy Brothers will raise money for Pasco High School's athletic department in April.
The Bellamy Brothers will raise money for Pasco High School’s athletic department in April.

The Bellamy Brothers are the featured guests of Pasco High’s Reunion of the Decades taking place April 11 beginning at 6 p.m. at the school’s W.F. Edwards Stadium. The event is hosted by Pasco’s Class of 1974, and a $45 ticket includes a Chet Taylor barbecue dinner and reserved seating for the concert.

Proceeds cover various costs of the athletic department, including field paint, referees and safety equipment, among others.

For those wanting to eat ahead of time, general admission is $15 and reserved seating is $25. Tickets are available at a variety of places including Pasco High School, 36850 State Road 52; Dade City Animal Clinic, 13117 U.S. 301; Olga’s Bakery, 14117 Seventh St.; and the Greater Dade City Chamber of Commerce, 14112 Eighth St.

The Bellamy Brothers first performed publicly at the Rattlesnake Roundup in Dade City in the late 1960s, and broke into the music scene with “Let Your Love Flow” in 1976. The brothers are currently on a world tour and working on a 40th anniversary album set for release in 2015.

The tour has The Bellamy Brothers in Texas for the beginning of March, but will later head to Switzerland March 21-23. The current tour wraps up Nov. 15 in Wendover, Nev. They continue to own a ranch in Darby, not far from where Interstate 75 and State Road 52 meet in Pasco County.

For more information and tickets, call (352) 524-5500.