Monday, September 21, 2009

Cape Coral council allows group to buy golf course, but sale still in limbo • September 21, 2009

The Cape Coral Community Redevelopment Agency’s plan to take over the Golf Club passed another hurdle tonight. But the most daunting barrier – a purchase agreement – is still holding up the deal.

“It might take a month, it might take six months, it might take a year,” said CRA Executive Director John Jacobsen. “But I’ve very confident we will close this deal.”

The City Council tonight approved the CRA’s plan for the property around the golf course and allowed the CRA to start collecting money for project. The CRA is funded through taxes from increased property values. The agency can only take action that is a part of its master plan, which the council must approve.

The course’s owner Florida Gulf Venture closed the 175-acre course nearly three years ago saying the course was a money losing venture.

The property could become profitable, consultant and former mayor Joe Mazurkiewicz said, with the addition of a hotel, conference center or both.

“I’m optimistic now that the CRA’s got their hands in it,” said Ray Borkowski, whose house abuts the course.