Print

Email story

Comment

Letter to the editor

Talk of the bay: Builder reveals cash partner in Home lot grab

By Times Staff Writer
Published January 23, 2008

Metro Development Group of Tampa has been buying thousands of home lots in Central Florida from the likes of Lennar Homes. But few knew where Metro was getting cash for the multimillion-dollar purchases - until now. The D.E. Shaw group, a New York investment firm, announced it has committed $250-million to buy and develop land throughout Central Florida and the Southeast. The joint venture between Metro and Shaw operates on the assumption of a 2010 housing recovery. "This infusion of capital will allow us to fulfill our short- and long-range goals of acquiring land worth from $500-million to $700-million in great locations that can produce large numbers of home sites quickly once the housing market rebounds," said Metro chief John Ryan.

Security slipups cost nuke plant

When guarding a nuclear power plant, your gun better work. That's the message federal regulators sent Tuesday to Florida Power & Light. The Nuclear Regulatory Commission proposed a $208,000 fine for four security violations at the utility's Turkey Point nuclear plant, including security workers who deliberately broke firing pins on their weapons. The violations occurred in 2004 and 2005, according to the commission. The agency, which oversees the safety of the U.S. nuclear industry, also faulted the Juno Beach utility for failing to promptly report the violations. Three of the four employees involved worked for Wackenhut, and none of the four works at the plant now, said FP&L spokeswoman April Schilpp. Wackenhut still provides security, and the utility has improved training, she said. The utility has 30 days to appeal the fine, but it doesn't plan to, Schilpp said. "The NRC confirms that at no time was plant security compromised," Schilpp said. "That's the important thing."

Biofuel initiatives injected with grant

The state handed out $25-million in "Farm to Fuel" grants Tuesday, including $11-million for two biofuel producers that have projects around Tampa Bay. But the money won't be spent on local projects. U.S. EnviroFuels received $7-million from the Florida Department of Agriculture and Consumer Services for a $47-million sugar waste-to-ethanol facility in Venus. The company's plans for an ethanol plant at Port of Tampa has been held up by a legal dispute. Agri-Source Fuels, which has a biodiesel plant at a former citrus-processing plant in Dade City, received $4-million for a new, $21-million biodiesel plant in Pensacola.

Tampabay.com

Want to comment?

Have something to say about a business story? Send your letter to tampabay.com/letters. A selection of readers' letters appears in Sunday's Money section.

[Last modified January 23, 2008, 00:28:54]