Update: City staff requests hearing for P3 proposals for Jaycee Park redevelopment be postponed
First phase estimated at $18 million
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Update:
City staff will request that Cape Coral City Council continue and defer the second and final public hearing for the unsolicited public-private partnership proposal for the Jaycee Park Improvement Project from Aug. 7 to Aug. 21.
This continuance on Resolution 209-24 is necessary to allow additional time for finalizing the legal documents related to the P3 proposal, a release from the city issued this morning states.
These documents include a comprehensive agreement with Fortress Secured and a concessionaire's agreement with the Reef Cape Coral LLC.
“The continuance will also provide Council members and the public adequate time to review the finalized documents before taking action. This ensures transparency and a better opportunity for informed discussion and decisions,” the release states.
At this Wednesday’s City Council Meeting, city staff will formally request that the second public hearing for the Jaycee Park unsolicited P3 proposal be continued and deferred to the Aug. 21 meeting. If Council continues the public hearing to Aug. 21, there will be no discussion or vote Wednesday on Resolution 209-24, officials said.
Original post:
Cape Coral City Council will consider on Wednesday a pair of public-private partnership proposals related to the redevelopment of Jaycee Park.
One is resolution for a Comprehensive Agreement with Fortress Secured, LLC; the other a Concessionaire's Agreement with Reef Cape Coral LLC.
The concessionaire's agreement includes Black Diamond Real Estate Group — Mike Amato and Steve Soloway — for the operation of the Reef and food court. They would provide $1,370,488 in private investments for the Jaycee Park project. They would own and operate four food trucks, leaving the two remaining food truck sites to be used for special occasions, or events. This group has also agreed to donate 2% of its net profits to Guardian Angels for Special Populations.
The concessionaire's hours of operation would be from 11 a.m. to 9 p.m. daily, except holidays when they would be closed. Advanced approval would be needed for extended hours on special occasions.
There would be no alcohol consumption permitted outside of a "wet zone," which is established around the perimeter of the concession area. This area may expand during special events with the approval of the city manager or designee.
The presentation also highlights the revenue-sharing opportunities and projections, which has a total annual revenue of $166,920. The Reef has a guaranteed monthly of $6,250.
Pavilion rental ranges from $35 half day to upwards of $80 for a full day and the band shell has a suggested rental rate of $150 for four hours.
There will also be kiosk rentals for volleyballs, cornhole bags and ping pong paddles and balls.
The landward side, phase one, of the Jaycee Park final concept includes $13.7 million for the actual project construction, $1.9 million for insurance, bonds, permitting and scheduling and $2.4 million for construction management and administration fees.
The amenities include $434,000 for pavilions, $639,000 for the bandshell, $900,000 for The Reef, $606,000 for playgrounds and $734,000 for a splash pad.
The total project construction GMP is $18 million. There are pending grants from Kiwanis Club of $50,000 and Better Cities for Pets for $20,000.
The proposal is to build the first phase with a target substantial completion within 12 months of the start date.
The Public Private Partnership team is comprised of Tom Iarossi of Fort Myers, Florida Premier Construction of Charlotte County, ADG Architecture of Fort Myers and Black Diamond Real Estate Group — Mike Amato and Stephen Soloway.
According to the city's presentation, a P3 delivery process is used to assure quality project, accelerate delivery, public ownership and control, local job creation and payment for performance.
The Council meeting will begin at 4:30 p.m. Wednesday, Aug. 7, in City Council Chambers, 1015 Cultural Park Blvd. The meeting is open to the public.