CRA delays decision on Slip Away food-truck park and marina; developers seek TIF and building-improvement grant

Developers seeking public support for the Slip Away Food Truck Park and Marina at 1811 Cape Coral Parkway described a waterfront food-and-boat destination and asked the CRA for two forms of support: a $250,000 building improvement grant (BIG) and a request for tax-increment financing (TIF) assistance.

Sharon Woodbury, the city’s economic development manager, said the developer submitted a $250,000 BIG application and a separate amended TIF request for $1,000,000. Woodbury said staff did not have time to finalize a report before the meeting but presented a staff recommendation for a TIF award of up to $726,561 over 10 years and a BIG award of $250,000, based on guidelines used for the CRA’s enhanced value recapture program.

Annette Barbacha, planning consultant for the applicant, described the project as a 3.1-acre waterfront redevelopment at the foot of the bridge, with an open-air pavilion (about 5,200 square feet and 154 seats), six smaller shaded pavilions, up to 10 food-truck pads with utility hookups, a ship store, about 30 boat slips and roughly 120 parking spaces. Barbacha and developer partner Jeff Myloff said project costs were presented in March 2025 at about $19.4 million; the development team said additional work to meet bridge redesign and utility extension needs has increased on-site expenses.

Developers asked the CRA to consider TIF funding directly so the project could access both city and county ad valorem tax increments; staff estimated the recommended TIF figure using a 50% capture over 10 years under the CRA’s guideline framework. Commissioners questioned whether all requested infrastructure costs met the CRA’s business-infrastructure eligibility criteria and discussed whether only marina-related expenses should be considered eligible. One commissioner also noted the application arrived late (March 31) and that the project is near completion, and asked whether the full commission should be present to provide direction.

Before discussion, one commissioner announced a recusal under Florida Statute 112.3143 because two minority owners of the Slip Away property had a potential conflict; the commissioner participated in discussion but did not vote. Because several members of council were absent, the executive director recommended, and commissioners approved, continuing the matter to the CRA’s July 30 meeting so a full commission could consider funding. A motion to open and continue the matter to the July 30, 2025 CRA meeting passed 5–0.

Why it matters: The project would add waterfront access, permanent and construction jobs, and new taxable value to the CRA district, but it also raises questions about what types of private development costs the CRA should subsidize and whether the public subsidy requested is proportionate to the public benefit.

Details: Staff’s recommendation included a TIF award up to $726,561 over 10 years and a $250,000 BIG grant; developers asked for up to $1,000,000 in TIF assistance. Staff and developers cited Florida statute section 163.37 (CRA Act) and the CRA’s redevelopment plan as supporting marina and waterfront-improvement funding. The item will be continued to the CRA’s July 30 meeting for further consideration.