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Cape Coral approves incentives for new 112-room hotel with generator-backed emergency rooms
Summary
City council approved a package of incentives to support a 112-room, $29 million hotel that will reserve 37 generator-backed rooms and common space for emergency operations; the measure passed 5-2 after debate about cost and alternatives.
The Cape Coral City Council voted 5-2 on Oct. 22 to approve an incentive package for a proposed five-story, 112-room hotel that the city says will provide 37 generator-backed rooms and dedicated common space for emergency-management use.
The vote approves a development incentive package the city described as totaling $2,430,000 over 15 years, including an enhanced property-value recapture grant of about $1,490,000, a site improvement grant of $770,000 and an impact-fee credit of roughly $176,000. City staff and the developer said the project represents a private investment of about $29 million at 1475 NE 8th Terrace.
City Manager Merritt told the council the agreement resolves a recurring challenge for emergency operations by guaranteeing nearby space outside a special flood hazard area where staff and mutual-aid personnel can stay and operate during storms. "We were able to work out an operating agreement with the developer of this hotel so that those staff can stay there during an…
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