Retiring this debt early will save the Village $4 million in interest
Mayor Katy Errington presented the National Safe Boating Week proclamation to Flotilla Commander Terry Schwinghammer, Flotilla 96 of the U.S. Coast Guard Auxiliary.
The meeting started with Mayor Katy Errington presenting a proclamation to Flotilla Commander Terry Schwinghammer proclaiming May 21-27, 2022, as National Safe Boating Week and the start of the year-around effort to promote safe boating.
Resolution 2022-09 – Budget amendment for FY 2021-22
Council approved this amendment to recognize additional revenues and increased expenditures for capital projects and debt retirement.
The Village has, and will, receive increased funding as part of the federal government’s American Rescue Plan Act (ARPA) that must be spent by December 31, 2024. The Village received half of the funding, $8,482,207, in September 2021.
This budget amendment will add the ARPA funds to the Village’s Fiscal Year 2021-2022 budget, add projects that will utilize the ARPA funds, and add new projects to the Village’s Capital Improvement Program. Here’s a summary of the projects.
Resolution 2022-10 – Retirement of outstanding indebtedness (Estero on the River property)
Council approved this resolution to pay off the 2019 debt early. The total purchase price of the Estero on the River property was $24,562,500 and the current outstanding balance is $17,916,515. The Village staff intends to pay off the debt in person via check on June 1, 2022, with funding coming from the Debt Reserve balance, General Fund reserves and Capital Improvement reserves.
Retiring this debt during fiscal year 2021-2022 will save the Village over $ 4 million in interest.
Resolution 2022-13 – Stoneybrook sidewalk easement
The Village entered into an Interlocal Agreement with Lee County in June 2020 for the Corkscrew Road Improvements Project in which the Village agreed to construct pathways, landscaping and street lighting improvements and the County will pay the Village the cost they would have incurred installing those improvements.
There is an opportunity to construct a portion of the pathway now, on the south side of Corkscrew Road from Stoneybrook Golf Blvd. to Stoneybrook Golf Drive, instead of waiting until the road widening is complete. Portions of the proposed 10-foot path are located on property owned by Stoneybrook Community Development District CDD) and TAQ, LCC. The Village has worked with Stoneybrook property owners to obtain the sidewalk easements.
Council voted to approve this resolution.
Resolution 2022-14 – TAQ, LLC sidewalk easement
This resolution addresses the Stoneybrook sidewalk easement from TAQ, LLC.
Council voted to approve this resolution.
Corkscrew Road pathway construction contract – Cougar Contracting Services
Council approved a contract with Cougar Contracting Services for $313,468 for the construction of a pathway on the south side of Corkscrew Road from Stoneybrook Golf Blvd. to the Stoneybrook Golf Drive right turn lane, including a 10% contingency of $31,300.
Corkscrew Road Stonybrook path construction, engineering and inspection contract – AIM Engineering & Surveying
Council approved this contract with AIM Engineering and Surveying for $42,211.13 for construction, engineering and inspection services on the Corkscrew Road Stoneybrook path construction, including a 10% contingency of $4,200.
Broadway Avenue West utility expansion project design and permitting contract – Johnson Engineering
The communities along Broadway Avenue include the majority of the septic tanks located within Estero. The Village is proposing two projects to design and permit the extension of water and sewer into the communities along Broadway Avenue.
Broadway Avenue West is generally the area at the west end of the road which include Estero River Heights, Quarterdeck Cove, Cranbrook Harbor, Sherrill Lane, and Luettich Lane.
Council approved a contract with Johnson Engineering, Inc. to provide design and permitting services for Broadway Avenue West in the amount of $1,060,763, with a 10% contingency amount of $106,000.
Broadway Avenue East utility extension project design and permitting contract – Tetra Tech
The communities along Broadway Avenue include the majority of the septic tanks located within Estero. The Village is proposing two projects to design and permit the extension of water and sewer into the communities along Broadway Avenue. Broadway Avenue East is generally the Trailside area and the communities located along Broadway Avenue east of US41.
Council approved a contract with Tetra Tech, Inc. to provide design and permitting services for Broadway Avenue East in the amount of $1,134,239 with a contingency amount of $114,000.
Resolution 2022-15 – Greater Estero Virtual Information Center, Inc.
The Greater Estero Virtual Information Center (GEVIC) is proposed as an information database about all things in and about Greater Estero. It is being proposed to be seed-funded by the Village and other investors.
GEVIC is seeking a $250,000 total investment by the Village and other Founding Sponsors to launch this project. The specific request from the Village is a maximum investment of $125,000 and an equal or greater amount from Founding Sponsors over two years. These funds will cover the creation of the Virtual Information Center and operating expenses to launch.
Ongoing operating revenues will come from sponsoring organizations, a business website linking subscriptions, and advertising revenue sharing. With the Chamber’s assistance, the marketing partners are expected to recruit enough business subscriptions linking with the GEVIC website to generate substantial monthly subscription revenue.
Public Comment: 1 eComment was placed into the record in favor of this resolution, and the president of the Estero Council of Community Leaders described the benefits of the proposed project.
Council voted against supporting this resolution.
Resolution 2022-16 – GESS family partnership + Gulf Coast Driving Range LLC
The Gulf Coast Driving Range property is 9.85 acres and is located at 9000 Williams Road. This parcel is located south and west of the Estero Community Park and Estero High School, and east of Village-owned property.
This is the last remaining parcel along Williams Road contiguous to the public property owned by the Lee County School District and Lee County Parks and Recreation. While a number of uses for the property have been discussed informally, the purchase allows the Village to move forward with active planning for the site.
Council voted to pass this resolution re-approving the commercial contract to proceed to closing, subject to any title defects.
Ordinance 2022-03 – amending the Reserve Policy
The adoption of a Reserve Policy will assist in ensuring the fiscal well-being of the Village by establishing a minimum level at which reserves are to be maintained. This ordinance would reduce the reserve level period from 12 months to 3 months.
Lowering the reserve requirement in the General Fund reflects industry standard reserve policies. Twelve months reserve was necessary during the inception of the Village’s finances. With stable revenue and healthy reserves in other areas, this action will align the Village’s policy with typical, healthy reserve policies for local governments.
Council passed this first reading to a second reading and public hearing on June 1, 2022.
Ordinance 2022-02 – Miromar Outlets signage
The applicant asked for a continuance for the second reading and public hearing to the date of June 15, 2022.
Residents may view the archived meeting by going to the Village website here.
The next Council meeting will be held at 9:30 a.m., Wednesday, June 1, 2022.