news-press.com • June 8, 2009
The City Council tonight took a step toward shifting the defunct Golf Club under city control.
The council tonight accepted a study - one of several steps necessary to expand the Community Redevelopment Agency to encompass the 175-acre course in the southeast Cape. With the course in the CRA district, a portion of tax dollars from the surrounding property can be used to purchase and rehabilitate the Golf Club. Property owners won’t pay any additional taxes. Instead as the value of property around the course increases, the extra tax dollars from that increase can be used to pay off the course.
The CRA is still working out a price to purchase the property from its current owners, Florida Gulf Ventures, LLC.