[ad_1]
Estero Village Council just two weeks old Approved a $485,045 contract with Naples headquarters RWA Engineering To design and license the Estero Entertainment District, the Village on Wednesday narrowed its entertainment proposals to Chicken N Pickle in Missouri and High 5 Entertainment in Texas.
“We’re here today to get approval for a term sheet that will get us through the summer and allow us to finalize the legal documentation for the public-private partnership and start designing the private spaces as well as the public infrastructure ,” said village manager Steve Sarkozy.
Approval empowers Sarkozy to continue negotiations with each company on the final public-private partnership agreement, the associated common area maintenance and lease agreement, on the terms stipulated.
The Estero Entertainment District is a village-owned property on Williams Road consisting of 20 acres, half of which is the Golf Coast Drive Range and half of which is the Golf Coast Drive Range. It is a wooded area. Since Estero began rezoning the property last year, the space is designed to attract private investment to the property with the goal of providing the recreational activities and economic returns the community needs.
Since February, the village has been working through briefings, public information sessions and Resident-Led Focus Groups.
“While we are doing all the hard legal work with village lawyers and iterating on these complete final agreements, we can make mutual commitments with other private partners, recognizing that each of us will cost each other,” said Michael Comparato, chief executive of Vieste. : “We needed an extra investment of time, effort, energy and some money to go through the design process and answer a lot of questions that needed to be answered. ”
The term sheet is not a definitive agreement, but binds the village and the company to work together in good faith over the next few months to finalize these final agreements.
Committee member George Zalucki visited the two companies that had been recommended as partners in the village.
Chicken N Pickle is the national leader in providing private pickle ball facilities, giving Zalucki a lot to learn from. “I was in awe,” he said. “I’ve never been to a facility like this.”
The pickleball facility will include 20,000 square feet of indoor entertainment space, six environmentally controlled pickleball courts and an outdoor social space. It will also include 12 to 15 outdoor pickleball courts, funded and built by the village and managed by the operator.
City Council member Jim Ward said the facility seemed like a good fit for Estero.
When Zaluki described his time visiting the facility, he pointed to the incorporation of local community brands. “It seems like these partners are very open to branding,” he said. “I can see the village of Estero on that wall.”
Community personalization is also common in High 5, Zalucki said. High 5 is a provider of multigenerational leisure activities with facilities across the country.
“[High 5] It’s a different concept, but I think it’s a very impressive entertainment venue that incorporates a lot of the demographics of the community,” Zaluki said.
High 5 is proposed to consist of two floors of indoor/outdoor entertainment space including, but not limited to, 16 full-size USA Bowling lanes, 8 lanes of pin bowling, bocce ball, 18 holes of outdoor miniature golf, ax throwing, laser tag, Arcade machines, virtual reality and escape rooms.
These two facilities will create a recreational space for the village covering a large population, which was part of the original intention of the project for the village.
Each company will invest $15 million in the project, and both companies are moving forward as they offer free events and benefit from collaborative planning efforts on site.
Sarkozy expects the village to see a return on investment of between 7% and 9% through these potential partnerships. Only half of the property will be used, with the potential for other partnerships on the unused portion in the future.
An already approved contract with RWA to assist with initial site planning will allow design and permitting to commence immediately following council approval of any partnership. As a result, the contract has a tight schedule, with the intention to deliver the construction site in April 2024.
The village will need to invest approximately $12 million in public infrastructure to support the project. Funding is available within the current budget, but may require Council to reprioritize capital improvement programs or some form of debt financing as appropriate.
Village staff will use the summer break in the council’s meeting schedule to advance the engineering and design of public infrastructure and work to finalize a public-private partnership agreement that will be presented to council in the fall.
[ad_2]
Source link