$40 million land buy; purchase of the old golf course acreage, to come before CRA board Wednesday

A special Cape Coral Community Redevelopment Agency meeting will be held Wednesday morning for two items – Bimini Basin District and the former Cape Coral Golf Club.
CRA commissioners will vote on an interlocal agreement between the City of Cape Coral and CRA regarding its participation in the city’s purchase of property in the eastern portion of the CRA’s Bimini Basin District.
According to the resolution, “the City of Cape Coral, will enter into a contract for sale and purchase with Bimini Center of Cape Coral and Four Palms Condominium Association, Inc. in order to purchase the property Bimini East for the contract price of $40,089,504.
The second agenda item is a resolution to approve CRA’s payment of $5,395,643 to the city for its contribution to the purchase of the old Cape Coral Golf Club.

A contract to buy the 175-acre parcel at 4003 Palm Tree Blvd., past home of The Golf Club, has been approved by Cape Coral City Council and the South Cape Community Redevelopment Agency Commission, with closing some time after Oct. 1. CITY OF CAPE CORAL
The resolution states that “the City of Cape Coral secured a contract for the sale and purchase of the property that is known as the former Cape Coral Golf Club, which is located at 4003 Palm Tree Blvd. and consists of approximately 175 acres, for the purchase price of $10,400,000.”
The golf club is presently owned by Florida Gulf Venture, LLC and has been closed since 2006. In 2009, the CRA expanded its boundaries to the west to include the “blighted areas of the Golf Club property.”
The special CRA meeting will be held at 4 p.m., Wednesday, Aug. 7, in City Council chambers, 1015 Cultural Park Blvd. The meeting is open to the public.
Cape Coral City Council acts as the CRA Commission. Both proposals will then come before Council at its 4:30 p.m. meeting, also on Wednesday.