Cape Coral Council approves Grove incentives, budget amendment; reconsiders contested rezoning and advances boathouse talks

CAPE CORAL CITY — The Cape Coral City Council on Aug. 20 approved a revised development agreement and related incentive package for the Cape Coral Grove mixed‑use project, adopted a $23,953,471 amendment to the fiscal 2025 budget, approved a reconsidered ordinance changing the zoning of a small parcel (Ordinance 37‑25), and heard an update on stalled negotiations with the Boathouse restaurant operator.

The council unanimously approved Ordinance 30‑25 (the amended and restated Cape Coral Grove development agreement) and the companion economic participation agreement (Resolution 1‑62‑25). City staff presented a reduced project scope after the developer removed parking garages; staff said eligible enhanced value recapture (EVR) costs dropped from $122,900,000 to approximately $86,400,000 and the total incentive award was revised to $96,437,702 (figures from the developer presentation and staff memo). Economic development staff and the developer said reimbursements are performance‑based and will be paid only as new taxable value is delivered to the tax roll.

Why it matters: City officials said the Grove project is intended to bring large new commercial investment and jobs; the council’s approvals authorize the…