Binini East location in the South Cape CRA.

Two major Cape Coral projects-in-the-works drew zero responses from any potential private-sector partners this week.

The city received no responses to its request for information for its Bimini East redevelopment project in the South Cape, into which it, and the South Cape Community Redevelopment Agency, have invested more than $45 million.

The city also received no responses to its request for proposals for the rebuild of the Yacht Club Park, a project the city put a $225 million price tag on in October.

RFIs are an early-stage exploratory solicitation to gather general information from potential business partners and vendors. RFPs are a final step, a competitive solicitation to seek contract partners.

The city, meanwhile, received only one proposal for its RFP for management and operation of the planned concession and food truck court at Jaycee Park.

City staff and the Kearns Restaurant Group are continuing negotiations after Cape Coral City Council on Wednesday instructed staff to return to the table to secure better terms for the concessionaire agreement for exclusive rights to provide food and beverage sales, including alcohol, at Jaycee Park. They also are discussing terms for operation of the planned boat slips at the park.

The city spent more than $1.3 million to construct the shell of the planned bistro and the six food truck pads that will anchor the concession area of the park at the end of Beach Parkway.

Bimini East

The city issued the RFI for Bimini East in October.

“The City of Cape Coral is seeking proposals from interested and qualified firms experienced in Florida to redevelop Bimini Basin East, which comprises approximately 22 acres bounded by Cape Coral Parkway, Coronado Parkway, and Tarpon Court. This recently-cleared site is a major opportunity in the City’s South Cape Community Redevelopment Area (CRA),” a release from the city issued at that time states.

Saying the area was blighted, the city and the CRA invested approximately $43,416,872 to buy multiple parcels, some of them developed. They then spent $1,521,648 for demolition costs to clear existing buildings for re-development.

The total expenditure as of last June was $45,021,290.

In issuing the RFI, city officials said the site was ready for project proposals that the city hopes will embody “the ultimate combination of a live-work-play lifestyle.”

Its vision includes a boutique hotel or craft brewery, observation tower, boardwalk, parking garage, retail, office, mixed-use residential and a possible marina among the city-presented possibilities as is a pedestrian bridge over Cape Coral Parkway, according to an open house for developers held last summer.

The relocation of Four Freedoms Park, which sits on three-plus acres on Bimini Basin with direct access to the Caloosahatchee, has been part of the discussion with project renditions including a possible off-water “central park” relocation should the park be moved.

The Yacht Club

The city, meanwhile, has discussed funding options for its plans to build a resort-style destination at the Yacht Club Park, which was heavily damaged in Hurricane Ian.

The project, as approved, calls for a “coastal design” and amenities that will include a new marina, boat slips and ramps, piers, a two-story community center, concessions, resort-style pool, a riverfront beach, a multi-story parking garage, a playground and more.

According to Council’s discussion in October, at $225 million, the estimated average annual debt service would be $14,218,742 with the city to carry the cost of that debt service for three to four years at an estimated cost of between $28 million and $43 million.

Proposed funding sources discussed included the city’s share of revenue from the returning Boathouse Tiki Bar & Grill; parking garage fees of $3 per hour; Community Center and pool fees and charges; adding an additional 3% to the city’s existing 7% public service tax on electric bills (estimated to raise $9.5 million per year); annual dockage fees and hourly boat slip fees of $5 per hour, and an $8 million general fund loan.

If the city funds the project and borrows the money, the debt of $225 million would be paid back over 30 years.

A public-private partnership for some of the amenities or park components could help the city mitigate some of the costs of construction and operations.

The city has already approved a concessionaire agreement that allows the Kearns Group to rebuild its popular Boathouse Tiki Bar & Grill and to operate the fuel facilities when the marina is rebuilt.

The city has received the state and federal permits needed to rebuild the park and marina, and has awarded reconstruction contracts to Wright Construction and Kimley Horn and Associates Inc.for design and other services for the project on Driftwood Parkway along the Caloosahatchee.

To reach VALARIE HARRING, please email vharring@breezenewspapers.com