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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 mixed-use plans and workforce housing. Lana Cowell of the League of Women Voters of Lee County commended council for including 56 workforce units in the development agreement.
During council questioning, several members pressed Catalystrepresentative Joe Benor on contract timing and buyer protections. The contract provides a six-month due diligence period and an 18-month development-approval period; speakers explained the need for time to uncover site constraints. Benor said recent planning uncovered an active railroad spur that must remain in place and a stormwater line that limits building areas, issues he described as typical of a complicated urban site and the rationale for a formal due diligence window.
Council members also debated the amount and timing of the buyerdeposit. The sale requires an initial deposit structure that includes $50,000 becoming nonrefundable after six months and a second $50,000 later in the contract timeline; at the hearing some council members said they wanted larger nonrefundable amounts if the developer expects extended control of the property without closing. Benor indicated Catalystwould be willing to negotiate larger deposits if council required them.
Catalyst representatives and members of the public urged council to balance developer certainty and city protections. Some speakers urged a 60-day extension to allow the city and a nearby property owner to explore a combined development; Catalyst said it had reached out to the adjacent owner and was open to collaboration but cautioned that repeated extensions could delay planning and permitting.
The sale motion and development-agreement motion each passed by roll call. Mayor Kevin Anderson announced the motions carried.
