Sustainable Economic Development
Sustainable Economic Development
Sarasota, Florida is a great place to start or expand your business. And our eight Sister Cities are also ready to help you expand your business into their countries. For assistance in locating or expanding your business in Sarasota or in one of our Sister Cities contact:
Craig Hullinger
Vice President Economic Development
309 634 5557
sarasotasistercities@gmail.com
ECONOMIC DEVELOPMENT LINKS
SarasotaFL.gov
sarasotafl.gov/government/city-manager/office-of-economic-development
edcsarasotacounty.comsarasotachamber.com
srq-airport.com
portmanatee.comenterpriseflorida.com
Craig Hullinger
Vice President Economic Development
309 634 5557
sarasotasistercities@gmail.com
MORE INFO AT:
ECONOMIC DEVELOPMENT LINKS
SarasotaFL.gov
sarasotafl.gov/government/city-manager/office-of-economic-development
edcsarasotacounty.comsarasotachamber.com
srq-airport.com
portmanatee.comenterpriseflorida.com
Mayor John Hamilton Gillespie, "The Father of Sarasota"
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| Mayor Gillespie and Bob Heron |
Gillespie was born in Edinburgh, Scotland. As a boy he lived with his family at 53 Northumberland Street, Edinburgh and was educated at the nearby Edinburgh Academy and subsequently at the University of St Andrews. Like his father, he was a member of the Royal Company of Archers. (a ceremonial unit that serves as the Sovereign's Bodyguard in Scotland). He was admitted to The Society of Writers to Her Majesty’s Signet in 1875 and also served as a captain in the Midlothian Coast Artillery Volunteers. Upon his return from colonial service in Australia, his father, Sir John Gillespie, sent him to Sarasota, Florida in 1886 to work for the Florida Mortgage and Investment Company.
The company had enticed a group of Scottish colonists to Sarasota in 1885 to help settle its 50,000-acre holdings, which included most of the land constituting the present City of Sarasota. The settlers arrived to find most of the company's promises unfulfilled. Gillespie was dispatched to improve the situation. Many disillusioned colonists left, however, and the company entered liquidation proceedings.
Gillespie remained in Sarasota after the court appointed him to manage the assets of the company there. He organized the clearing of three miles of Main Street, the building of a substantial wharf on the waterfront, and the beginning of a 40-acre experimental farm.
In May 1886 he laid out two golf holes on his property. This was the first golf course in Florida and the second in the United States. An avid golfer, Gillespie learned the game at St. Andrews. In 1905 he built a nine-hole course on property now which is now the site of the Sarasota County Courthouse, Florida.
University educated, Gillespie was admitted to the highest legal body in Scotland. Having become a naturalized citizen of the United States in 1896, he joined the American and Florida Bar Associations. He served as president of the local Bar Association. He was influential in building an Episcopal church in Sarasota. He served as chaplain to Sarasota Bay Post #30 of the American Legion. As a Mason, he reached the Order of Knight Templar, was affiliated with the Independent Order of the Odd Fellows and became a charter member of the Kiwanis Club.
1902, he was elected the first mayor of Sarasota when the town was incorporated and held this office for six terms. He also served his community as Justice of Peace four years and Notary Public ten years. He was affectionately known as "Colonel" in this community.
Gillespie is credited with introducing Florida to the game of golf. In 1904 he built a nine-hole golf course east of the present Links Avenue. Over the years, he was commissioned to design and build six other Florida courses and one in Havana, Cuba. He was one of Florida's championship golfers and an authority on the sport.
Sarasota was incorporated as a town on 14 October 1902, coincidentally Gillespie's 50th birthday, and he went on to served as the Town's first Mayor. He was subsequently elected to five additional one-year terms.
Gillespie remained in Sarasota for most of his life. During that time he lived in three different houses, each one reflecting a different phase in his life. His first house was built on South Palm Avenue in 1886. Alex Browning, nineteen-year-old colonist from Scotland who had had some architectural experience, designed the home. He also was one of the six-man crew who built the house with lumber brought by schooner from Appalachicola. On his later memoirs, Browning described the house as "the finest residence in the county," with large rooms, detached kitchen, and verandas on three sides. Behind this house Gillespie built a two-hole golf course, on which he played almost daily, according to Browning. In this house in October 1902 the first town council met after the Town of Sarasota was incorporated.
When John Hamilton and Blanche McDaniel Gillespie returned from their honeymoon in Scotland in July 1905, they moved into "Roseburn" on Morrill Street. In this c. 1906 photo friends are shown in front of "Roseburn." The house may have been built as early as the 1880s and was remodeled for the Gillespies. On the far side of the house a conservatory was added for Blanche Gillespie's plants. The windmill pumped water from their well into the tank located half way up the framework. (Prew School occupied this building from the late 1930s until prior to its demolition in the mid 1980s.)
The Gillespies moved into their third home in 1919 after a five year absence from Sarasota. During World War I they had lived in Scotland, where John Hamilton served with the Volunteer Force. Their new home, "Golf Hall," was on the corner of Golf Street and Links Avenue. Across Links was the nine-hole golf course Gillespie had built about fifteen years earlier and which stretched eastward almost to Tuttle Avenue. Next door was the new club house.
The next four years, Gillespie was active in community life and promoted golf as good for business. His letter to the editor of The Sarasota Times, printed on the front page of the July 10, 1919 edition, bemoaned the fact that none of Sarasota's business and professional leaders were playing golf. "All, all are blind to the fact that to be able to play golf is, now-a-days, as essential to a business man as any other part of his education." For those not yet exposed, he observed that "the golf microbe is as catching as the 'Flu' and far more lasting!"
Gillespie was instrumental in founding the Episcopal Church in Sarasota. He was ordained as a Deacon in the Episcopal Church and is acknowledged as the founder of The Church of the Redeemer Sarasota.
Gillespie volunteered in World War I for duty in Scotland. Because of this service to Scotland, he lost his United States citizenship. An act of Congress restored it after the war.
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http://www.sarasotahistoryalive.com/history/markers/john-hamilton-gillespie/
http://www.sarasotahistoryalive.com/history/articles/the-homes-of-john-hamilton-gillespie/
https://en.wikipedia.org/wiki/John_Hamilton_Gillespie
Historical Markers in Sarasota
Click to see more historical markers of Sarasota
http://www.sarasotahistoryalive.com/history/markers/
Opportunity Zones
Four areas of City of Sarasota designated ‘Opportunity Zones’ for investment
Revitalization encouraged under aegis of federal program
Four economically distressed areas of the city of Sarasota soon could see long-term investment and job creation after being designated “Qualified Opportunity Zones” under the federal Tax Cuts and Jobs Act of 2017, the city has announced.
The federal program “helps to revitalize low-income communities by providing tax advantages for private individuals and corporations” that invest in an Opportunity Zone Fund, a city news release explains. The program “encourages the private sector to reinvest capital gains from other investments into businesses and start-ups located in these Qualified Opportunity Zones,” the release adds.
Click to read the full article:
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The Federal Government enacted major new legislation to spur economic development. Opportunity Zones are designed to spur economic development by providing substantial tax benefits to investors.
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IRS Info
Q. What is an Opportunity Zone?
A. An Opportunity Zone is an economically-distressed community where new investments, under certain conditions, may be eligible for preferential tax treatment. Localities qualify as Opportunity Zones if they have been nominated for that designation by the state and that nomination has been certified by the Secretary of the U.S. Treasury via his delegation of authority to the Internal Revenue Service.
Q. How were Opportunity Zones created?
A. Opportunity Zones were added to the tax code by the Tax Cuts and Jobs Act on December 22, 2017.
Q. Have Opportunity Zones been around a long time?
A. No, they are new. The first set of Opportunity Zones, covering parts of 18 states, were designated on April 9, 2018. Opportunity Zones have now been designated covering parts of all 50 states, the District of Columbia and five U.S. territories.
Q. What is the purpose of Opportunity Zones?
A. Opportunity Zones are an economic development tool—that is, they are designed to spur economic development and job creation in distressed communities.
Q. How do Opportunity Zones spur economic development?
A. Opportunity Zones are designed to spur economic development by providing tax benefits to investors. First, investors can defer tax on any prior gains invested in a Qualified Opportunity Fund (QOF) until the earlier of the date on which the investment in a QOF is sold or exchanged, or December 31, 2026. If the QOF investment is held for longer than 5 years, there is a 10% exclusion of the deferred gain. If held for more than 7 years, the 10% becomes 15%. Second, if the investor holds the investment in the Opportunity Fund for at least ten years, the investor is eligible for an increase in basis of the QOF investment equal to its fair market value on the date that the QOF investment is sold or exchanged.
Q. What is a Qualified Opportunity Fund?
A. A Qualified Opportunity Fund is an investment vehicle that is set up as either a partnership or corporation for investing in eligible property that is located in a Qualified Opportunity Zone.
Q. Do I need to live in an Opportunity Zone to take advantage of the tax benefits?
A. No. You can get the tax benefits, even if you don’t live, work or have a business in an Opportunity Zone. All you need to do is invest a recognized gain in a Qualified Opportunity Fund and elect to defer the tax on that gain.
Q. I am interested in knowing where the Opportunity Zones are located. Is there a list of Opportunity Zones available?
A. Yes. The list of designated Qualified Opportunity Zones can be found at Opportunity Zones Resources and in the Federal Register at IRB Notice 2018-48. Further a visual map of the census tracts designated as Qualified Opportunity Zones may also be found at Opportunity Zones Resources.
Q: What do the numbers mean on the Qualified Opportunity Zones list, Notice 2018-48?
A: The numbers are the population census tracts designated as Qualified Opportunity Zones.
Q: How can I find the census tract number for a specific address?
A: You can find 11-digit census tract numbers, also known as GEOIDs, using the U.S. Census Bureau’s Geocoder. After entering the street address, select ACS2015_Current in the Vintage drop-down menu and click Find. In the Census Tracts section, you’ll find the number after GEOID.
Q. I am interested in forming a Qualified Opportunity Fund. Is there a list of Opportunity Zones available in which the Fund can invest?
A. Yes. The list of designated Qualified Opportunity Zones in which a Fund may invest to meet its investment requirements can be found at Notice 2018-48.
Q. How does a corporation or partnership become certified as a Qualified Opportunity Fund?
A. To become a Qualified Opportunity Fund, an eligible corporation or partnership self-certifies by filing Form 8996, Qualified Opportunity Fund, with its federal income tax return. Early-release drafts of the form and instructions are posted, with final versions expected in December. The return with Form 8996 must be filed timely, taking extensions into account.
Q: Can a limited liability company (LLC) be an Opportunity Fund?
A: Yes. A LLC that chooses to be treated either as a partnership or corporation for federal tax purposes can organize as a Qualified Opportunity Fund.
Q. I sold some stock for a gain in 2018, and, during the 180-day period beginning on the date of the sale, I invested the amount of the gain in a Qualified Opportunity Fund. Can I defer paying tax on that gain?
A. Yes, you may elect to defer the tax on the amount of the gain invested in a Qualified Opportunity Fund. Therefore, if you only invest part of your gain in a Qualified Opportunity Fund(s), you can elect to defer tax on only the part of the gain which was invested.
Q. How do I elect to defer my gain on the 2018 sale of the stock?
A. You may make an election to defer the gain, in whole or in part, when filing your 2018 Federal Income Tax return. That is, you may make the election on the return on which the tax on that gain would be due if you do not defer it.
Q. I sold some stock on December 15, 2017, and, during the required 180-day period, I invested the amount of the gain in a Qualified Opportunity Fund. Can I elect to defer tax on that gain?
A. Yes. You make the election on your 2017 return. Attach Form 8949, reporting Information about the sale of your stock. Precise instructions on how to use that form to elect deferral of the gain will be forthcoming shortly.
Q. Can I still elect to defer tax on that gain if I have already filed my 2017 tax return?
A. Yes, but you will need to file an amended 2017 return, using Form 1040X and attaching Form 8949.
Q. How can I get more information about Opportunity Zones?
A. Over the next few months, the Treasury Department and the Internal Revenue Service will be providing further details, including additional legal guidance, on this new tax benefit. More information will be available at Treasury.gov and IRS.gov.
Sarasota City Economic Development
Office of Economic Development
1782 Dr. Martin Luther King, Jr. Way Sarasota, FL 34234
| The Office of Economic Development promotes Citywide economic development through projects and initiatives, including those related to the Newtown Community Redevelopment Area, the St. Armand's Business Improvement District, the Downtown Business Improvement District, and the commercial districts of the City including Southside Village, the North Trail Cultural District, and greater Downtown including Burns Square, Rosemary, Towles Court, Fruitville Corridor, and the Payne Park-Government district. |
| ST. ARMAND'S BUSINESS IMPROVEMENT DISTRICT | DOWNTOWN IMPROVEMENT DISTRICT | NEWTOWN COMMUNITY REDEVELOPMENT AREA |
| DEVELOPMENT REPORTING |
| VISIT OUR INTERACTIVE MAP to explore development in the City |
| ECONOMIC DEVELOPMENT PROJECTS AND PROGRAMS |
| CONTACT OUR TEAM | |||
| Steven Stancel | General Manager | Steven.Stancel@SarasotaFL.gov | 941-316-8412 |
| Onya Bates | Redevelopment Manager | Onya.Bates@SarasotaFL.gov | 941-926-6149 |
| Susan Dodd | Redevelopment Manager | Susan.Dodd@SarasotaFL.gov | 941-926-6134 |
| Rowena Elliott | Redevelopment Specialist | Rowena.Elliott@SarasotaFL.gov | 941-926-6003 |
| John Moran | Operations Manager, D.I.D. | John.Moran@SarasotaFL.gov | 941-724-5578 |
| Brandy Wiesner | Operations Manager, B.I.D. | Brandy.Wiesner@SarasotaFL.gov | 941-266-7599 |
| Jackie Giovannone | Administrative Specialist | Jaclyn.Giovannone@SarasotaFL.gov | 941-365-2200 |
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