Florida's Latest News

Nick Iarossi to receive knighthood in Naples ceremony

'Nick is so deserving of this honor and recognition for his considerable accomplishments in business and service to community, state, and country.'

Capital City Consulting co-founder Nick Iarossi will be knighted during a ceremony on April 3 at St. Agnes Church in Naples.

The Royal Order of Francis I, established by the Royal House of Bourbon two centuries ago, honors individuals in various fields, including business, science, and education, for their significant contributions to society through service and philanthropy.

Iarossi will be honored alongside four others, joining a prestigious list of past inductees, including heads of state and notable leaders in business and entertainment.

Last year’s inductees included singing legend Frankie Valli and Formula One icon Mario Andretti.

“Nick is so deserving of this honor and recognition for his considerable accomplishments in business and service to community, state, and country,” said Sachs Media founder Ron Sachs, who recommended Iarossi for the honor. “He is widely respected as among the very few best in his field and as a person with the highest caliber of character.”

Meet Ken Griffin’s platoon of planners and professionals building his business in South Florida 

The Daytona Beach native with a net worth of $43.8 billion, per Forbes, moved his hedge fund Citadel and its sister financial services firm Citadel Securities to the Magic City from Chicago in 2022.  Griffin has since amassed a residential and commercial real estate portfolio in the region worth more than $1 billion…

He is not going it alone. Griffin and Citadel are relying on a cadre of plugged-in players to broker deals, obtain planning and zoning approvals and lobby public officials. Most of the professionals working on Citadel’s behalf contacted by The Real Deal either did not respond to interview requests or declined comment because they had not received authorization from their client.

Using lobbyist registration records and previously published reports, TRD has compiled brief dossiers about the individuals getting paid by Citadel for assisting Griffin in shaping his South Florida real estate empire:

Nick Iarossi

 To protect Citadel’s South Florida interests in the state capitol, Griffin has turned to Iarossi to bend the ear of Tallahassee legislators and Gov. Ron DeSantis. Iarossi is among the governor’s biggest fundraisers and has served on DeSantis’ inaugural committees.

Brian May

With a client roster headlined by Stephen Ross, the billionaire developer and owner of the Miami Dolphins NFL franchise, May is known for his lobbying work behind the scenes, meeting with county staff and making the rounds with elected officials when a project is coming up for a vote...

May played an instrumental role in securing tens of millions of dollars in county grants for Ross’ Hard Rock Stadium in Miami Gardens tied to the venue hosting sporting events such as an annual Formula 1 race and a World Cup 2026 match. Other builders who have put May on their payroll include 13th Floor Investments, Related Group, Terra, Hyatt Hotel Corp. and Grass River Properties. 

Get ready for Budget Day

Good morning and welcome to Monday.

Gov. Ron DeSantis sent his budget request to Legislative leaders late Sunday night during an already tense period in Tallahassee.

The governor’s budget proposal is about more than numbers; it’s a messaging document about priorities and political dynamics. Last year, for instance, the governor leaned in hard on agriculture causes just weeks away from the caucuses in Iowa, a top producer of corn, soybeans, pork and eggs. In 2023, he signed a series of tax cuts into law that he presented as an antidote to inflation.

DeSantis’ latest budget request, called the “Focus on Fiscal Responsibility” budget, is for $115.6 billion, compared with a projected $118.6 billion in spending during the 2024-25 fiscal year. The governor is expected to hold a press briefing about the budget in Tallahassee today. It calls for $505 million in spending for the division of emergency management to enforce laws against illegal immigration and for bulking up the Florida National Guard’s training and readiness facilities.

Of course, this proposal is only the start. During the session that kicks off in March, the Legislature will make decisions about spending and then send their finished product to DeSantis, who in turn has the power to use his line-item veto pen to do away with budget items he doesn’t approve of.

S&P study shows Florida had nominal increase in homeowners insurance rates

While Florida held off major increases for homeowners insurance, analysts caution hurricane impact hasn't hit yet.

Homeowners insurance rates are rising across the nation, but despite more hurricanes striking the state, Florida remains relatively stable regarding rate hikes.

S&P Global just released an analysis of homeowners insurance rates across America, and while there were stiff increases for many states, Florida fared well in comparison. The S&P report found Florida to have one of the smallest increases in homeowners insurance in the country as of December 2024 since 2019. But there was an increase.

“The states with the lowest calculated weighted average increase in 2024 were Nevada at 4.3%, Texas at 3.4% and Florida at 1%,” the S&P analysis concluded. “Overall, the Florida homeowners market has seen improvement following legal reforms in 2023.”

S&P used rate information sourced from owner-occupied rate filings submitted to the Federal Insurance Office and each state’s largest homeowner insurance underwriters. That does not include state-backed insurance organizations such as Citizens Property Insurance Corp., run by the state of Florida.