Bonita Springs approves $28.6M rail corridor purchase deal

Bonita Springs City Council on March 25 authorized a purchase and sale agreement for its $28.6 million, 5.8-mile share of a railway corridor acquisition in partnership with Estero and Collier County. 

Village of Estero approved a similar agreement for its portion March 4, and Collier County commissioners are expected to vote on the plan in April, setting up a joint due diligence process. That would lead to a closing date in October for the total 11.4-mile, $60 million deal. 

Estero’s 4.1-mile section costs $19.8 million, and Collier’s 1.5-mile stretch is $11.6 million. The three governments could still back out or amend their plans during the due diligence period. 

Once the sale is complete, the governments and their private-sector partners plan to remove the old railway infrastructure and build the Bonita Estero Rail Trail, a multiuse public trail running from Estero Parkway to the eastern end of Wiggins Pass Road. It would connect to the larger Florida Gulf Coast Trail, a partially completed pathway stretching from Pinellas County to Collier County. 

The purchase agreement is between the nonprofit Trust for Public Land, which represents the three governments, and family-owned, Fort Myers-based rail operator Seminole Gulf Railway. 

The purchase price covers the rail corridor but not the due diligence process, including appraisals, surveys and environmental assessments, or construction of the trail. Bonita officials estimated ongoing maintenance costs for their section could range from $87,000 to $200,000 per year, depending on amenities. 

The corridor also would be placed in the federal railbanking system under the National Trails System Act, preserving the route for public use while allowing the federal Surface Transportation Board to restore rail service if it is deemed economically justified. 

Supporters have long argued for the trail’s safety, economic and health benefits. 

“With the longest segment of the corridor within Bonita Springs, and the only one going through a downtown area, particularly significant benefits will accrue to the people and businesses in Bonita Springs,” said Rebecca Bullis, communications manager for Trust for Public Land. 

The nonprofit advocacy group Friends of BERT also continues to build public support for the trail and the broader Florida Gulf Coast Trail, a network of more than 420 miles that is about half complete. BERT represents one of the missing links. 

“Friends of BERT stands here with our commitment to an ongoing public-private partnership,” said President Deb Orton at the March 25 Bonita Springs City Council meeting. “We know this is going to be a long haul and we are here to support that. ... So, let’s build something truly special for those generations to come.” 

Each government is developing its own plan to finance the acquisition. Bonita Springs City Council members authorized staff to explore a potential August ballot measure asking voters to finance the project through a general obligation bond. 

Bonita is considering issuing between $30 million and $45 million in bonds to cover its share of the purchase and related costs, with either 20- or 30-year repayment terms. 

If approved, a Bonita Springs resident with an average home value of $441,137 would see property taxes increase between $49 and $88 per year, depending on the size and term of the bond, PFM Financial Advisors Director Julie Santamaria said. 

Council approved the agreement in a 7-1 vote, with Councilor Laura Carr dissenting due to concerns about the cost. She argued the city was rushing into the agreement and that the bond referendum should wait until a general election in November.