(Here's a story you probably won't see anywhere else.)

            A major change is coming to the Navy’s Saufley Field west of Pensacola--a change that could mean many new jobs and an economic boost to the Pensacola area economy.

           The plans have gotten only minimum exposure but, essentially, the Navy is making a big chunk of the Saufley Outlying Landing Field available for use by private businesses.

           Saufley OLF is considered underused land and buildings which the Navy will lease out at fair market value for private development. The property is not classified as excess and will not be sold. The Navy will retain long term interest and control.

           The development is being managed by Saufley Group, LLC, a subsidiary of dck worldwide, LLC. dck worldwide is a global construction company that develops, manages, and builds highly complex projects.

           The Navy goal is to attract businesses that are compatible to Navy activities and needs such as defense contractors and software developers. This would help strengthen Pensacola’s economic base and growth and broaden the county tax base and at the same time support the Navy’s continued presence here. Under the plan, the Navy will avoid demolishing or maintaining unused buildings.

           There are 866 acres and 60 buildings at Saufley. Only two parcels are being made available initially. Parcel one includes 85 acres and 620,000 square feet of facilities. The second parcel is the now closed 18 acre golf course.

           The Navy says the property is available for offices, research and development facilities, light industry, warehousing and training facilities.

           Development will not happen overnight and will take seven to 10 years to build out.

           But, obviously, any activity that offers the possibility new businesses moving into Pensacola, creating jobs and paying taxes is a move in the right direction for a community that sorely needs it.  

          

         The much anticipated Publix Supermarket is now open at 9th Ave. and Bayou Blvd. in Pensacola. The supermarket is located in the old Albertson's building. Thousands of people poured through the store on the first day. The new Publix features a full-service bakery, butcher counter, pharmacy and stand-alone liquor store. Plus, it offers its very popular deli section where customers can stock up on ready-made sandwiches and dishes. There is also a cafe-like setting where you can relax and enjoy your favorite selections.
        

Thinking about buying a home?

Credit scores, along with your overall income and debt, are big factors in determining whether you’ll qualify for a loan and what your loan terms will be. So, keep your credit score high by doing the following:

1. Check for and correct any errors in your credit report. Mistakes happen, and you could be paying for someone else’s poor financial management.

2. Pay down credit card bills. If possible, pay off the entire balance every month. Transferring credit card debt from one card to another could lower your score.

3. Don’t charge your credit cards to the maximum limit.

4. Wait 12 months after credit difficulties to apply for a mortgage. You’re penalized less for problems after a year.

5. Don’t order items for your new home on credit — such as appliances and furniture — until after the loan is approved. The amounts will add to your debt.

6. Don’t open new credit card accounts before applying for a mortgage. Too much available credit can lower your score.

7. Shop for mortgage rates all at once. Too many credit applications can lower your score, but multiple inquiries from the same type of lender are counted as one inquiry if submitted over a short period of time.

8. Avoid finance companies. Even if you pay the loan on time, the interest is high and it will probably be considered a sign of poor credit management.

This information is copyrighted by the Fannie Mae Foundation and is used with permission of the Fannie Mae Foundation. To obtain a complete copy of the publication, Knowing and Understanding Your Credit, visit www.homebuyingguide.org.

              Attention military personnel…there is an added bonus for you in the recently extended and expanded homebuyer income tax credit program.

 

            The National Association of Realtors says armed service, intelligence and foreign service personnel on active duty and out of the U.S. for 90 days during any part of 2009 will get an additional year to buy their homes. Their deadline will be May 1, 20ll.

            They also will get a break on the terms of occupancy of the home. Most homebuyers using the tax credit must use the home as a principal residence for no less than three years or forfeit the entire credit. But military, intelligence and foreign service members do not have to repay the credit if they have to sell their home in less than three years because of official business.

            The tax credit program gives eligible first-time homebuyers a tax credit up to $8,000. Existing homeowners are eligible for a $6,500 tax credit, provided they have lived in the home they are selling, or have sold, as their principal residence for five consecutive years in the past eight years.

            Income limits for eligible homebuyers are expanded to $125,000 for single buyers and $225,000 for couples. The purchase price of the home cannot exceed $800,000. To help guard against fraud, buyers are required to attach documentation of purchase to their tax return.

    Tropical storm Ida has come and gone leaving behind very little damage. The late season storm dumped a few inches of rain and blew gusty winds through the area. Some beach front roads were overwashed and covered with sand, but otherwise there was not much in the way of serious damage.
   Gulf Coast residents kept a wary eye on the storm as it blew up into a hurricane in the western Caribbean and plowed into the Gulf of Mexico. Ida, as forecast, degenerated into a tropical storm and sloshed her way onto the central Gulf Coast at Dauphin Island, Alabama.
   Ida's remnants merged with an Atlantic storm that is pounding the Carolinas and the Atlantic Seaboard.

    President Barack Obama has signed into law a $24 billion economic stimulus bill extending and expanding tax incentives to prospective home buyers. The law extends the $8,000 first-time home buyer's tax credit by five months to April 30, 2010. And, it expands the credit to include as much as $6,500 for existing home buyers who have owned a home for at least five years.  In both cases, the purchases have to be closed by June 30, 2010.
    The maximum purchase price on a home will be $800,000 with vacation homes not eligible. Income limitations are $125,000 for single tax payers and $225,000 for joint filers.
    Supporters of the law say it will help to continue stimulate the slowly recovering residential real estate industry which is a vital segment of the overall economy.
    So if you have been thinking about buying a home, you now have as many as 8,000 and 6,500 strong reasons to get serious.    

             Registered voters in the City of Pensacola will be voting on a new charter that will spell out how city government is organized and operated.

            The city government is presently set up as a Council-Manager form of government, comprised of a 10-member City Council and a professional City Manager.

            Under the proposed new charter, the government would switch to a strong mayor form of government where the mayor would serve as the top political leader and administrator.

            City voters will be able to vote on the charter change by mail when ballots are mailed to registered voters in early November.

              Many Pensacolians will be glad to hear that the former Bailey’s Farmers Market on Davis Highway is back in business as Bailey’s Market. For years, the Market—which was originally located on Fairfield Drive—provided fresh vegetables, fruits, plants, Christmas trees and other produce to large, loyal following.

But, about a year ago, business at its new location slowed and the owner developed some health issues and the Market shut down. Now, another family member, Don Bailey, has taken over and reopened the Market. They have not yet reopened the deli, but there has been a steady flow of regular, returning loyal customers.

Check them out, just north of Fairfield Dr. on Davis Highway.

   Congress has approved an extension and expansion of the home buyer's tax credit. Both the House and the Senate have approved an extension and an expansion and now the bill should go to the White House by the end of this week (Oct. 7.) The bill provide a credit of up to $8,000 for first time home buyers and $6,500 for all primary home buyers as well as loosen the income requirements. Homes would have to be under contract by April 30 and close b y June 30, 2010.

Have you gotten caught in the swing to a “green” environment? Have you been buying and installing those cork-screw light bulbs called compact fluorescent light bulbs (CFL) to save energy and money?

Here is one situation where you probably don’t want to use a CFL—in your garage door opener. There are warnings out because most garage door openers use electronic switching similar to a dimmer switch to operate the light bulbs. This electronic switching apparently is not compatible with CFLs, even CFLs that are supposed to be "ruggedized" or dimmable.

This switching incompatibility coupled with the inherent vibration of a garage door opener can damage the electronic circuits and can cause the electric motor to overheat to a potentially dangerous level.

According to industry sources, neither the Genie Company, a company which makes door openers (call them at 800-354-3643), nor GE, a CFL manufacturer, recommend the use of CFLs in garage door openers.