Chip – reading the documents associated with this purchase will provide you with the facts (not the sales pitch). Similar to the two presentations in 2012, it is unlikely the Town Hall meeting will provide you with the details. What is certain is that WHEN those 200 units are built in and around Raptor Bay (per THE OCTOBER 2014 SUPPLEMENT TO THE PLCA DOCUMENTS) they are granted use of PELICAN LANDING’S Beach Shuttle. This season as well as last season’s shuttles were already stressed beyond capacity on numerous occasions. If you consider the 3 towers to-be-built in The Colony, I think you can see this “deal” will further overburden our shuttle boats.
While the $700K for the marina may have been a good price, the 200 unit giveaway and THE ANNEXATION OF ADDITIONAL PROPERTIES into Pelican Landing may make this “fantastic deal” less than attractive. The marina parcel was highly encumbered per the Settlement Agreement and therefore unattractive to any buyer other than the PLCA. Pelican Landing already had vested rights at the Coconut Point Marina. Why was it necessary to sweeten this deal which clearly favors WCI when WCI would have been under pressure to shed such “assets”, WCI had no viable ability to produce net income from this parcel, and WCI was required by the State to maintain the marina (which had been neglected)?