Fort Myers Beach approves 0% SRF loan amendment to finance stormwater projects

The Fort Myers Beach Town Council on Jan. 5 authorized Amendment No. 5 to a Florida Department of Environmental Protection State Revolving Fund (SRF) loan to fund the remaining unfunded portion of the Andrews site contract, several additional stormwater projects and a contingency fund.

Finance Director Joe Onczyk told the council the amendment would fund roughly $5 million to finish the Andrews site work, about $2 million for additional identified projects — including Seaview Street water and stormwater, Carlos Circle stormwater, Fairview Boulevard stormwater and Curlew/Curlo (Curlew/Curlo) Street stormwater — and a contingency of approximately $1.5 million to cover other needs. "This is a 0% interest loan," Joe said, and repayments are not scheduled to begin until 2029.

Joe said the town has sufficient stormwater-fund revenue and accumulated excess to meet the amortization schedule for the loan once drawn. He also noted the amendment does not compel the town to draw the full authorized amount; repayments would be adjusted to the actual amount borrowed.

Community Services Director Jeff Haughey explained the projects are part of a Tier 1 effort to minimize localized flooding by improving swales and outfalls so water can drain faster. "We're trying to create swales and improve our outfalls, to help that water get out," Haughey said, noting the system still depends on tide levels and, for some areas, higher seawalls or pumping would be necessary to prevent seawater re-entry.

Councilors asked whether work on those streets would produce spillover benefits for neighboring blocks; staff said the drainage improvements do positively affect nearby streets but that some problems — such as tidal inundation beyond seawalls — cannot be fully addressed without additional measures.

The council voted unanimously to approve the SRF amendment (motion by Councilor King; second by Vice Mayor Safford).