Fort Myers Beach Town Council Approves SRF Loan Amendment Amidst Ongoing Financial Discussions
- Meeting Overview:
The Fort Myers Beach Town Council meeting on January 5th featured key financial decisions, including the approval of an amendment to the State Revolving Fund (SRF) Loan Program. The council addressed amendments to a significant loan agreement, aimed at covering costs for various stormwater improvement projects and a crucial site work contract. Additionally, the meeting covered community achievements, special events, and the process for appointing a new council member.
One notable issue on the council’s agenda involved the SRF Loan Program. Finance Director Joe Wik provided detailed insights into the need for a loan amendment, which would secure additional funds for the Andrews site work contract and several stormwater improvements. The amendment proposed borrowing nearly $5 million to address underfunded aspects of the contract, initially planned to be supplemented by other funding sources. However, efforts to obtain additional grants had not succeeded, necessitating this financial adjustment.
The amendment also included provisions for over $2 million in additional projects, targeting improvements at C View, Carlos Circle, Fair View Boulevard, Kurlo Street, and Albatross, with a $1.5 million contingency fund for potential future projects. Wik emphasized that while the authorization allowed for borrowing, it did not require spending the entire amount, with repayments scheduled to start in 2029. The council unanimously approved the resolution, a decision underscored by discussions about the financial health of the town’s stormwater fund, which is currently sufficient to support the loan’s amortization schedule.
In related financial discussions, a council member suggested exploring the Florida Municipal Loan Council for future financing due to its cost advantages. The council welcomed the favorable terms of the SRF loan, notably its 0% interest rate. Concerns from another council member about the additional projects were clarified.
The meeting also addressed the process for filling a vacancy on the town council following the resignation of Jim Atterholt. A consensus was reached to extend the application deadline for prospective candidates to February 2nd. Discussions highlighted the importance of residency requirements, financial disclosures, and the term length for the appointed member. The council deliberated on the onboarding process and potential ordinance adjustments to allow appointees to waive their salary.
Further discussions revolved around the town’s recent achievement with FEMA, securing a class five rating in the National Flood Insurance Program. The council also discussed ongoing correspondence with Lee County Schools about Fort Myers Beach Elementary School, with expectations of future updates on the school’s status.
In addition to financial and administrative matters, the council reviewed the application for the 14th annual Putt and Pug Crawl event, hosted by the Fort Myers Beach Women’s Club. Scheduled for January 17, 2026, the event was approved with conditions on alcohol consumption and pedestrian safety.
Public safety and traffic management were also key points of discussion, particularly concerning pedestrian safety and traffic flow at key intersections. Plans were proposed to enhance safety measures and improve traffic management, especially in anticipation of the upcoming spring break season.
Dan Allers
City Council Officials:
Dan Allers -, Jim Atterholt – Vice, John R. King – Council Member, Scott Safford – Council Member, Karen Woodson – Council Member
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Meeting Type:
City Council
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Committee:
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Meeting Date:
01/05/2026
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Recording Published:
01/05/2026
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Duration:
92 Minutes
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Notability Score:
Routine
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State:
Florida
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County:
Lee County
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Towns:
Fort Myers Beach
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