Fort Walton Beach Council agenda — 02-27-2007 workshop agenda — reading text

personnel and is one of the world's largest air force bases. Per the 2005 Defense Base Closure and Realignment ( BRAC) Commission, the U.S. Army' s 7th Special Forces Group is to move from Fort Bragg, North Carolina to is Eglin. It is expected that the Army Group will be based at Duke Field. The move expected to bring an additional 12, 000 people to the area. Hurlburt Field is headquarters to the Air Force Special Operation Command AFSOC). AFSOC' s mission includes training, support, and execution of worldwide etc. special air operations such as unconventional warfare, special reconnaissance, , In light of recent and current worldwide socio- political developments, the work of this unit is increasingly important. AFSOC employs over 19, 500 military and  25 civilian personnel, while Duke Field employs approximately 1, 500 personnel. BRAC Commission recommendations are expected to reduce Hurlburt Field employment by 1, 000 by 2008. ECONOMIC FACTORS The Fort Walton Beach area has several industries. In summary, they include local & federal government services, technology & engineering industry, health care services, communication services, and tourism. These industries are expected to grow and expand with the area in future years. According to statistics provided by the Economic Development Council of Okaloosa County, Florida, the eleven largest private employers in Okaloosa County are: Abbott Resorts/ Resort Quest 1, 300 Crestview Aerospace Corporation 1, 185 Tybrin Corporation 1, 109 BAE SYSTEMS ,Technical Services 1, 000 Fort Walton Beach Medical Center 989 DRS Training & Control Systems 735 Legendary, Inc. 700 Sverdrup Technology 650 North Okalooosa Medical Center 650 MTC Technologies 450 White-Wilson Medical Center 380 According to statistics provided by the Florida, Research and Economic Database, civilian employment in the Fort Walton Beach- Crestview-Destin MSA has increased from 76, 986 in December 2000 to 98, 951 in December 2006. This represents a six- year increase of 28. 53%, or + 4. 76% per year. Agricultural employment is stable, but strong, with large areas of northern Okaloosa County  26 improved by croplands and timber production. South Okaloosa County has increasingly become known as a desirable' vacation destination. The tourism industry provides jobs in both the service and trade industries. A majority of this tourist traffic picks South Okaloosa County due to the beaches, with beach hotels, motels, and shops area realizing increased financial benefits. HISTORY OF FORT WALTON BEACH The, Fort Walton Beach area was a notorious pirate haven for over two' hundred years, before becoming home to the Walton Guards during the Civil War. During this time it was known alternately as Camp Walton and Brooks Landin'g. In 1915 Okaloosa County was created from portions of Santa Rosa County and Walton County. It was not until 1937 that the City of Fort Walton Beach was first created and chartered as a municipality. This was the same year as the establishment of Eglin Field. SOCIOLOGICAL FACTORS The Okaloosa County School Board has 39 public schools serving over 31, 000 students. Over 18, 000 post- secondary students attend the area' s six institutions of higher learning. OkaloosalWalton Community College offers Associate degree and vocational certificate programs, while the University of West Florida, University of Florida, Troy State University, Emory Riddle Aeronautical University, and University of Arkansas maintain branch campuses in the area. For outdoor recreation, the area offers many public and private golf and tennis facilities, as well as facilities associated with fishing and water sports. The Gulf Breeze Zoo, less than thirty minutes to the west, has over 700 birds and animals. There are locally-based fine arts that include theater, ballet, and orchestra  27 groups. The Arts and Design Society, established in 1956, is a society of over 200 members whose purpose is to promote art and the appreciation of art throughout the community. The Society ( ADSO) hosts the annual Beaux Arts Exhibition, Regional Fine Arts Exhibition, and the Fine Arts Show. The Arts Center of Okaloosa-Walton Community College is a fairly new $ 25- million complex. The 120, OOO- square foot center in Niceville features a 1, 650- seat main theater, a recital hall, an art wing, two art galleries, a recording studio, and an outdoor amphitheater. Vacation visitation and tourism desirability to the area' s beaches has been recognized and highlighted recently in such publications as Southern Living Magazine, USA Today Newspaper, Parent Magazine, and Florida Living Magazine. Okaloosa County was also recently named by Money Magazine as one of the " Ten Best Places" to live in the United States. SUMMARY The Fort Walton Beach Metropolitan Statistical Area is located in what is called the " Panhandle" of the State of Florida. Okaloosa County is considered to be the Fort Walton Beach-Crestview- Destin Metropolitan Statistical Area. Crestview is the' county seat of government for Okaloosa County. The area' s economic background is one of government, tourism, From an overall standpoint, Okaloosa County has a favorable economic and social climate. A newcomer to the area will find established settlements alongside and areas of significant growth, which offer year-round economic opportunities which have considerable recreational facilities and natural resources for the non- working hours. The growing tourism industry helps to create a positive outlook' for the future. As a result of continuing population and economic growth, the real estate market in the Okaloosa County area has generally reflected a trend of increasing to stable property values, and continuing new construction in all market sectors.  30 NEIGHBORHOOD DATA The subject neighborhood is identified as being the northern Fort Walton Beach area, which is bordered by Garnier Bayou and Shalimar to the east, Eglin Air Force Base to the north and west, and Cinco Bayou and Lovejoy Road to the south. Major east-west arterials include Lewis Turner Boulevard and Hurlburt Road/Racetrack Road. Major north-south arterials include Beal Parkway and Eglin Parkway. These arterials create good access to area schools, shops, businesses, and residential areas. Traffic counts in the area have been increasing in recent years as ' a result of population and business growth. The central business area, made up primarily of retail businesses and service establishments, including some professional offices, is located within this neighborhood about two miles west- southwest of the subject properties. Located less than a mile to the north and east of the subject properties is Eglin Air Force Base, the most important source of direct and indirect employment for the community. The subject properties are located along one of the primary transit routes between civilian Fort Walton Beach and military Eglin Air Force Base. Immediately to the south of the subject properties and across Lewis Turner Boulevard is the Fort Walton Beach Municipal Golf Course. Residential areas branch off from the major traffic and commercial arterials of Beal Parkway, Racetrack Road, Lewis Turner Boulevard, and Eglin Parkway. The community has benefited from growing population from two contributing sources. Firstly, while many military installations throughout the United States have been shut down or severely pared back by the BRAC 2005, this area' s military base operations have actually expanded. This expansion of responsibilities has resulted in a boost to the neighborhood' s economy through increased population, as well as an increase in contracts for support services. Secondly, the area continues to be a draw for individuals seeking a place for retirement. Often these retirees were formerly stationed in the area while on active duty. While much of the base- support housing market growth is expected to be  31 directed toward the Crestview area, we expect the Fort Walton Beach area to appeal to the retirement demographic. The growth in general population causes a need for more commercial development to meet the needs of the growing population. Fort Walton Beach is quickly running out of room for development. The community' s position between Eglin Air Base and the Gulf of Mexico leaves no room for outward expansion. As a result, land becomes more scarce and higher in demand, leading to a rise in the price that will be paid on the open market, at least until reaching a point of diminishing return. There are several single-family residential subdivisions in the area. Homes range in age from new to about 55 years old with the average age being around 15 140, 000 years old. During the last year or so, home prices have ranged from about $ to $ 450, 000 with the typical price being around $ 225, 000. The older homes are generally renovated prior to selling, keeping the neighborhood in an appealing state. The residential areas are nearly fully developed. Historical sales and inventory statistics from the last three years show an increase in residential prices paid for the area over that time period. This has been coupled, however, over the last year and a half, with a decline in completed sales, as well as an increase of about four-fold for inventory. Although residential sales prices have held steady for the last year and a half, with a' decreasing number of residential sales transactions, there has been a widening gap between original listing price and agreed sale price for many properties, seeming to indicate a plateau of residential prices. Incidentally, our research shows that commercial