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Council accepts CBRE appraisal review, clearing procedural hurdle for rail-trail purchase
Summary
After a remote presentation by CBRE, the council voted 6–1 to accept an independent desk review concluding the two appraisals for the proposed rail-trail corridor are acceptable for the city's purposes; members reiterated that environmental and structural reviews remain part of due diligence.
The Bonita Springs City Council accepted a CBRE desk review of two appraisals for the proposed rail-trail corridor, voting 6–1 to approve the report and allow the city to proceed with remaining due diligence.
Portland Irick of CBRE, the city's contracted reviewer, told the council the two appraisals met the uniform appraisal standards and that his review found only "minor errors and inconsistencies" that did not affect value. "My recommendation after reviewing both appraisal reports is recommend that you move forward with that they are acceptable for your purposes of moving forward," Irick said. Council members asked whether Phase II environmental results or structural bridge issues could trigger an exit from the purchase; city counsel and staff confirmed contractual provisions allow withdrawal if remediation is required.
Council discussion emphasized that CBRE's work was a desk review focused on appraisal methodology and compliance, not a fiscal viability analysis or construction estimate. A motion to accept the CBRE report passed on roll call 6–1. The mayor and council members said the acceptance enables continued due diligence, including surveys and environmental testing, but does not bind the city to construction decisions or final capital commitments.
