The Sarasota County Commission unanimously approved using $1 million from the Bay Park tax-increment financing (TIF) trust to pay design and permitting costs for phase 3 of the Bay Park project, and directed staff to return in spring 2026 before committing to debt financing for construction.

Why it matters: The Bay Park Conservancy is seeking to advance Centennial Park — an 11-acre portion of the park that includes boating infrastructure, shoreline resilience and stormwater-treatment improvements — and needs schematic design and permitting to seek state and federal permits and to support a future bonding plan that would be TIF-backed.

County staff explained the plan to use the $1 million to reach 60% schematic design and then submit plans to the U.S. Army Corps of Engineers and the Southwest Florida Water Management District. Conservancy leaders told the commission the $1 million will come from money already deposited in the city’s TIF trust fund; the county’s portion would come from prior transfers the commission has already made into the fund. Conservancy chair Jennifer Compton said, “We know that great cities have great parks,” as she described the design priorities of resilience, water quality and public access.

Conservancy and city staff estimated the Centennial Park construction package could be about $20 million, and said the city would issue debt backed by TIF increment; the county would pay approximately half the debt service once the city bond is issued. County finance staff presented projections showing the FY2027 TIF increment would have accommodated the additional debt service while still leaving funds to meet reserve policy if the county paused at phase 2. Commissioners who voiced caution said they wanted to wait to see state-level budget and tax changes before committing to new debt.

Motion and next steps: Commissioner Cutsinger moved and Commissioner Mast seconded a resolution to release $1,000,000 for design and permitting and to bring back a decision about bonding in April 2026 (the board agreed April 2026 would be the target). The motion passed unanimously. If the county and city later approve bonding for phase 3, staff said construction could be completed in FY2027–FY2028 according to the Conservancy’s schedule.

Context and public input: Conservancy leaders said phase 2 is on schedule and on budget and that private and grant funding have already covered much of the park’s operation and programming costs. Commissioners asked for continued transparency and semiannual reporting; the Conservancy said it will keep reporting to both the Bay Park Improvement Board and the county commission.