The Bay pledges no Phase 2 overspending

Unlike its previous meeting, whether Sarasota County would be amenable to funding construction of a new Sarasota Performing Arts Center wasn’t brought up as a point of contention at last week's meeting of the Bay Park Improvement Board.

Rather, there was a related topic of how the Canal District portion of the underway Phase 2 construction at the north end of The Bay park would compliment plans for the new SPAC, conceptualized across four buildings along Tamiami Trail from the Van Wezel Performing Arts Hall parking entrance across the 10th Street canal and onto the Centennial Park parking area.

Bay Park Conservancy Founding CEO AG Lafley assured the board — comprised of two county commissioners, two city commissioners and one at-large community member — that efforts between his organization, the Sarasota Performing Arts Foundation and architect Renzo Piano Building Workshop are being coordinated.

“Moving into Phase 2, we have to be incredibly adaptable, agile, flexible and be able to pivot as the Purple Ribbon Committee evaluates the Van Wezel Performing Arts Hall, and as Renzo Piano begins their conceptual design,” Lafley said. “So we do that, but as we pivot, we stay firmly connected to our guiding principles and our master plan.”

Much of the conversation focused on plans for The Bay Phase 2, which includes the Cultural District along Tamiami Trail, the Canal District and the resilient shoreline efforts. That phase has a budget of $65 million, $48 million of that bonded by the city. Since the budget was set the costs have risen, but Lafley said the Conservancy is committed to not spending more TIF tax dollars there.

“We're not going to overspend the $48 million that the city bonded to support Phase 2,” Lafley said. “That covers about 75% to 80% of the project cost. The rest is covered by private money or government grants.”

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The Canal District will expand boaters’ use of the 10th Street boat ramp at what is now known as Centennial Park but will be folded into The Bay. Two more boat launch ramps will be added and plans include floating day docks. The city is in discussions with Florida Power & Light for use of a portion of its adjacent land for additional parking. 

Suspended for now are plans for a food truck pavilion on the south side of the canal for logistical reasons. Instead, the Conservancy has refocused on the three identified restaurant buildings overlooking Sarasota Bay at the east end of the current boat ramp parking lot.

“We’ve started a preliminary investigation of feasibility,” Lafley said. “How would it be designed and engineered to be resilient? What would it cost? It has to be within a 5,000-square-foot shell, whether it would be one food and beverage offering, or whether it would be two or three or four. We would like to get some experience with food and beverage in that area because that was intended to be a food and beverage district as part of the master plan.”

The entire The Bay park project is planned to be funded with 50% public dollars and 50% private philanthropy, with a total price tag of $200 million, separate from the new performing arts venue. The public funding comes from revenues generated by a tax increment financing district in areas surrounding the bay. That revenue is based on the improved value of property — which includes The Quay — within the district benchmarked against 2022 appraisals. 

Currently, the TIF district is projected to generate a total of $351.7 million in revenue by 2049, the expiration of the program. During the board's May meeting, Ron Cutsinger and Mark Smith, the County Commission appointees to the Bay Park Improvement Board, balked at TIF funds dedicated to construction of the performing arts hall. That led to the Foundation contributing to what would have been the county’s $9.9 million share of the $39.6 million design agreement with Renzo Piano. 

Lafley reminded the Cutsinger and Smith that The Bay isbeyond a city-owned park, attracting visitors from across Sarasota County and beyond. Through September, he reported nearly 600,000 visits to the park since Phase 1 opened two years ago, as captured by three counters at park entrances.

“We draw a lot of park-goers from the county, but we also draw from the region,” Lafley said. “We draw from Collier County, we draw from DeSoto County, we draw from Manatee County. It depends on the activity, it depends on the day, it depends on the event.”

One core principle of The Bay is the treatment of stormwater run-off as it moves through the park on its way to Sarasota Bay. 

“Before we're done, it will be close to 300 million gallons of stormwater (per year),” Lafley said. “We're trying to protect the land from the water, and we're trying to improve the water quality as it goes through the land.”

The next meeting of the Bay Park Improvement Board will be in March 2025.