Presentation to the City of Fernandina Beach Commissioners

By Steve Rieck, Executive DirectorFebruary 18, 2014

Fernandina’s Population

Nassau County’s population will grow 18 times faster than Fernandina Beach between now and 2025

20,754 new residents

1,134 new residents

Source: NEFRC; U.S. Census Bureau

Fernandina’s Population

16%

84%

2012 Share

FernandinaNassau

13%

87%

2025 Share

FernandinaNassau

Source: NEFRC; U.S. Census Bureau

Fernandina’s Population

• Fernandina’s population growth rate has begun to level off

• The 65+ age cohort is the fastest growing (almost 400% since 1970)

• The 0-4 and the 5-19 age cohorts as a percentage of population have both decreased since their peaks in 1990 (they represented 20% of total population in 1970; 17% in 2010)

Population Trends

Source: NEFRC; U.S. Census Bureau

Fernandina’s Population

Percent of Working Aged Residents Nassau Fernandina

36.9% 31.7% Source: NEFRC; U.S. Census Bureau

Household Income

Concentration of Wealth: Percent of Households reporting income greater than $100,000

Source: NEFRC; U.S. Census Bureau

Source: Nassau County Property Appraiser

Household Income

Median Household Income

And there’s a greater concentration of poverty in Fernandina than in Nassau county—

In Fernandina Beach, 13.2 percent of families live below the poverty level, while in Nassau County the

percentage is 7.2 percent

Household Income

Source: NEFRC; U.S. Census Bureau

• Fernandina’s share of “total just property” fell from 25% in 2008 to 23% in 2013.

• Fernandina’s just property values continued their five-year decline in 2013 while unincorporated Nassau County saw values increase by 10.5%.

• Fernandina represents 55.6% of the total taxable value for Industrial Property and 49.8% of the total taxable value for Personal Property reflecting the importance of the two mills in the city’s economy.

Tax Structure

Source: Nassau County Property Appraiser

• Fernandina’s population will stabilize at about 12,000 residents over the next 10-15 years and will continue to get older.

• There’s a growing divide between Fernandina’s wealthy and poor.

• It’s getting harder for middle class workers to find affordable housing on Amelia Island.

• Without the presence of Fernandina’s two mills, the city would have to rely almost exclusively on residential property taxes to provide services to citizens.

Conclusions

• BUT… For every $1 generated by residential property taxes, the government spends $1.38 in services.

• On the other hand, commercial, industrial and retail property taxes save taxpayers money in the long run. A dollar generated by business taxes only results in the need for 48 cents worth of services.

Conclusions

Source: Fishkind & Associates, 2008

“Fernandina’s future”

Part of the City’s 2030 Comprehensive Plan

• Strengthens new growth and redevelopment opportunities within the community while balancing the needs of its citizens, its unique character, and its cultural, historical, and environmental resources.

• Provides for an articulated and shared vision of where the City wants to go and what things residents and businesses value.

“Fernandina’s future”

• Establishes a coordinated intergovernmental and public/private partnership approach to lead economic development strategies

• Identifies targeted industries and businesses

• Promotes year-round tourism and expands visitor demand

• Identifies “Job Opportunity Areas” throughout the City

“Fernandina’s future”

1. Central business district2. 8th Street/14th Street corridors3. Main beach4. Sadler/Fletcher corridor5. Fernandina Beach Municipal

Airport1

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How can you help?

• Become personally involved in one or more Job Opportunity Area working groups.

• Consider revising and adopting policies that are consistent, fair, and that will make Fernandina Beach more attractive to business.

• Provide leadership in dealing with tough issues like infrastructure repair and city services.

“Aaron Bell’s kids”

“Nassau County needs good jobs. We need working people and families. We are not all retired folk—at least, not yet. I feel it is easy to lose sight of the need to help young people such as myself to work, own homes, raise their children and give back to the community. Most parents hope that their children can find a job locally and stay in the community where they grew up.”

Questions?