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Council approves RDA-backed assistance for Estella’s Cantina, amends interlocal agreement to free funds
Summary
Council approved a resolution authorizing the Redevelopment Authority to negotiate a Chapter 380 performance agreement for Estella’s Cantina and separately approved an amendment to the interlocal agreement to defer debt service, freeing about $330,000 in FY2026 to support the project.
The Nassau Bay City Council unanimously approved Resolution No. 2026-0112-1A on Jan. 12, authorizing the Nassau Bay Redevelopment Authority to negotiate and approve a Chapter 380 performance agreement with Estella’s Cantina, LLC.
James Caldwell presented plans for Estella’s Cantina, describing a Tex‑Mex restaurant with a rooftop bar near the Five Guys site and requesting "$330,000 in city assistance to help secure an SBA loan for the $3.3 million project, which is expected to create 65–80 jobs and generate $96,000–$160,000 in annual tax revenue." Finance Director Jaime explained the funding mechanism: the Redevelopment Authority would defer a portion of its 2017 debt service payment and the City would temporarily use reserves in FY2026; the RDA is expected to reimburse the City in FY2028 when additional property tax revenues become available.
Council also approved a separate amendment to the interlocal agreement between the City and the RDA that implements the temporary deferral. Councilmember Chase Waterwall moved to approve the resolution and the interlocal amendment; both motions were seconded and passed with all members voting aye. City staff said the amendments are intended to be short-term cash-flow adjustments tied to the RDA’s projected future revenues.
Council did not identify additional conditions in the adopted motions; staff will return with negotiated performance agreement terms for RDA and City action as required.
