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Fort Myers council approves sale and development agreement for former News-Press site to Catalyst
Summary
The City of Fort Myers approved a $11,000,500 purchase and sale agreement and a companion development agreement with Catalyst Community Development LLC for the 9.84-acre former News-Press site after public comment and council discussion about due diligence timelines, deposit amounts and coordination with adjacent property owners.
The City of Fort Myers voted March 3 to sell the former News-Press site and Old Fire Station No. 1 to Catalyst Community Development LLC for $11,000,500 and to approve a development agreement laying out proposed mixed-use redevelopment.
The council opened a public hearing on the 9.84-acre downtown site at the corner of Dr. Martin Luther King Jr. Boulevard and Fowler Street, heard multiple speakers and then approved the sale and the development agreement by roll call. Supporters at the hearing, including local developers and housing advocates, praised the projectfor…
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