Cape Coral Yacht Club funding uncertain; council considers phased plan

CAPE CORAL, Fla. (WINK) - Cape Coral’s new $225 million yacht club is coming, but how it’s being paid for is still up in the air.

At Wednesday’s city meeting, the city council was candid that they don’t yet have a plan for its funding.

The city council told staff they would like to consider a phased approach in which not everything is built at once.

Council member Bill Steinke asked staff how much it would cost if it were to go to the taxpayers and everyone were responsible for its rebuild. City staff said it could cost around $900 per parcel or unit.

Council member Rachel Kaduk suggested taking another route.

“To me, government needs to get back to the basics. We provide infrastructure, public spaces, ensure public safety, and provide recreational green open space. So, to me, we keep the pier, we keep the beach, and we put a ‘for sale’ sign up,” said Kaduk.

For now, the City Manager said they will work on a financial plan, and once they have one, we will let you know.