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Estero council authorizes due diligence on proposed purchase of Burt rail corridor
Summary
The council authorized up to $250,000 for due diligence including title work, survey, appraisal and initial environmental assessments on the village's portion of the Burt rail corridor, a step toward converting the line to a bike-ped corridor and open space; staff said the village's share of the purchase would be under $20 million.
The Village of Estero council on March 4 authorized up to $250,000 to complete due diligence on a proposed purchase-and-sale agreement for the village's segment of the Burt rail corridor.
Steve (staff) told council the acquisition follows years of negotiation and community interest; earlier memoranda of understanding with Bonita Springs and Collier County supported pursuing a purchase price acceptable to all…
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