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Council hears detailed plan to buy Bonita‑Estero rail corridor; staff seeks direction on purchase vs. lease
Summary
Trust for Public Land briefed the Estero Village Council on a proposed acquisition of an 11.4‑mile rail corridor (4.1 miles in Estero) and two contract options: a direct purchase (target close Oct. 2026) or a two‑year lease‑purchase. TPL reported a renegotiated price near $60 million and outlined due diligence, estimated costs and a March decision timeline.
Doug Hathaway, Southeast regional conservation director for the Trust for Public Land, told the Village of Estero council at a Feb. 18 workshop that the group seeking to acquire the Bonita‑Estero rail corridor has narrowed the current phase to 11.4 miles — about 4.1 miles of which lie inside Estero — and is presenting two options to the village: a straightforward purchase or a two‑year lease‑purchase agreement.
The presentation said the corridor had been under a prior contract for 14.9 miles at $70,440,000; after renegotiation with the owner, Seminole Gulf, the current phase price was reported at about $60,000,000. Hathaway described the Trust’s role as interim buyer: TPL would purchase from Seminole Gulf, complete due diligence, and then convey the property to participating local governments according to negotiated shares.
Hathaway told the council the acquisition is intended to plug a regional trail gap, connect communities along the…
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