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Commissioners approve $1 million from Bay Park TIF for phase‑3 design; larger phase‑3 borrowing to be revisited in spring
Summary
The Sarasota County Commission unanimously authorized $1 million from the Bay Park TIF trust fund for Centennial Park schematic design and permitting, and agreed to revisit a proposed $20 million phase‑3 borrowing (TIF‑backed) after permitting and legislative clarity.
Sarasota County commissioners on Oct. 21 approved $1 million in spending from the Bay Park tax‑increment trust fund to continue design and permitting for phase 3 improvements at Bay Park, chiefly work at Centennial Park and northern marina areas.
The Bay Park Conservancy, which has led private fundraising and operations at the site, asked the board to authorize two steps: $1 million now for detailed schematic design (to reach approximately 60 percent design for permitting) and a later TIF‑backed city debt issuance of roughly $20 million to fund construction. County staff and Bay Park speakers emphasized the $1 million in the trust is already deposited and would expedite permit submissions to…
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