The Kearns Restaurant Group was the only party to submit a proposal for management and operation of the planned concession area and food truck court at Jaycee Park.

4.a.1. Partial Term Sheet Jaycee Park 2.20.2026

4.a.1. Jaycee Park – Partial Term Sheet – COW Presentation 2-25-26 (1)

The Kearns Restaurant Group was the only party to submit a proposal for management and operation of the planned concession area and food truck court at Jaycee Park.

Term sheet details negotiated by the city and the group call for a 20-year agreement with an option to renew for another 10.  

It also outlines three types of concession fees to be paid to the city: Approximately $1.06 million plus interest to be paid monthly over 20 years; minimum guarantees of $75,000 per year or $6,250 per month; and an escalating  percentage of total gross receipts.

Any agreement for the boats slips remains under negotiation.

With Cape Coral City Council approval, city staff issued a request for proposals on Dec. 12, 2025, with a close date of Jan. 13.

The city’s posted documents were downloaded by 11 parties with four expressing interest in “select areas of the solicitation but did not progress to submission,” according to a staff presentation to be made before council at its workshop meeting Wednesday.

City staff deemed the proposal from the Kearns Restaurant Group responsive and compliant with city procurement procedures and a city negotiating team met internally on Jan. 21 to review the proposal, the presentation states.

The parties met again on Jan. 28 and Feb. 4 and drafted a partial term sheet for the development of a concessionaire agreement for the park.

The city of Cape Coral and the Kearns Restaurant Group negotiated a similar concessionaire agreement for the Yacht Club where the group operated the popular Boathouse Tiki Bar & Grill. That agreement, which allows for the rebuild of the restaurant, was approved by council in September.

Council is expected to discuss the terms for Jaycee Park at the 9 a.m. workshop.

According to the presentation:

• The agreement would be between the city and an LLC owned and controlled by Kearns Restaurant Holdings, LLC.

• The agreement would be for the “Concession Area” with same “Wet Zone” restriction for sale of alcoholic beverages as was previously outlined during discussions related to the rebuild of city park on the  riverfront at the end of Beach Parkway

• The agreement type is a Concessionaire Agreement that would grant exclusive rights for the management and operation of the Jaycee Park Concession Area and Food Truck Court. 

• The term of the agreement is 20 years with an option to renew for 10 years for total of 30 years.

• Hours of operation would be be determined by the concessionaire with the understanding that no operations would occur from 9 p.m to 8 a.m. (except for usual closing and cleaning processes). Extended hours could be requested for specific holidays, city special events or concessionaire events. 

• Maintenance and repairs would be the responsibility of the concessionaire, “who must keep Concession Area maintained in exceptional condition and make immediate repairs after notice from City.”

• All facets of Food Truck Court operations would be managed by the concessionaire.  

• The Concessionaire would be responsible for cost of utilities – under negotiation, taxes and assessments associated with the Concession Area and Food Truck Court.

The financial elements term sheet calls for:

• Concession Fees 

A. Initial Payment: $1,064,876 plus interest to be paid in 240 equal monthly installments of $4,437 (plus interest costs) 

B. Minimum Guarantee: $75,000 per year ($6,250 per month) 

C. Percent of Total Gross Receipts: 4% in years 1-10; 5% in years 11- 20; 5.5% during any renewal term 

• Boat Slips – Under Negotiation

The workshop meeting is scheduled for 9 a.m., Wednesday, in the Council Chambers at City Hall, 1015 Cultural Park Blvd. The meeting is open to the public.

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