24. Authorize Sheffield Way Dredge CIP MSBU Financing

Lee Board of County Commissioners · 2026-05-19 · agenda_item

This item concerns the permanent financing for the Sheffield Way Canal Dredge Capital Improvement Project Municipal Services Benefit Unit (CIP MSBU). The project involved dredging a canal north of Landmark Court and south of Sheffield Way in unincorporated Lee County. The final construction cost was $414,965. The Municipal Services Benefit Unit was established on March 1, 2022, with a majority of property owners petitioning for it. The project is now moving into the financing stage, with a term loan of up to $454,000 being authorized for permanent financing. This financing will cover the costs of the dredging work. The work completed included site clearing and grading related to the canal, and potentially underground utility work if any was impacted. This project represents an opportunity for contractors and suppliers involved in civil engineering, dredging, and potentially related utility work. Reaching out now, before final financing details are settled, could provide an advantage.

term loan amount

454,000 $

final construction cost

414,965 $

county contribution

62,140 $

assessed amount per parcel

18,569.76 $

parcels

19 parcels

petitioning parcels

11 parcels