The Captiva Erosion Prevention District’s commission received an update on the beach renourishment project during its recent meeting, as well as approved a resolution related to its local grant funding request and a list of financial recommendations from its accountant.

On June 10, Executive Director Daniel Munt reported that the CEPD’s bond referendum was approved by voters in last month’s special election. Staff has coordinated with the project bidders and requested an extension of their original bids in conjunction with their best and final offer.

The final bids were scheduled to come in by June 14.

Munt continued that staff are anticipating that the commission will consider the bids and select the winning firm at its July meeting. The beach renourishment will likely take place in May.

In addition, he reiterated that the CEPD had received about $13.2 million in obligated grant funding from the state for the project. Staff has coordinated through a grant that any funds spent in excess of that will be cost shared at about 21% — which would add another $2.8 million.

“Staff has also identified an additional state grant funding opportunity,” Munt said.

He reported that roughly $35 million is available and it will open to applications on July 1.

“But it’s on a first come, first serve basis, so we are currently working to prepared all the necessary grant documents to make application on the first of the month,” Munt said.

He added that staff are estimating the ask will be for about $5 million.

As part of the update, consultant and APTIM Coastal Market Lead Nicole Sharp also reported that physical beach monitoring surveys were scheduled for that weekend or the next week.

Also at the meeting, the commission voted 4-0 on a resolution approving and supporting the activities as outlined in the 2024-25 local government funding request to the Florida Department of Environmental Protection and affirming the CEPD’s commitment to provide local funding.

Prior to the vote, Munt explained that the resolution is updated and presented for approval annually as a housekeeping item in conjunction with the CEPD’s local grant funding request.

Also during the meeting, the commissioners voted 4-0 to approve the following recommendations, which were provided by their accountant and presented by staff:

– Transfer $500,000 from the general fund to capital projects fund.

– Purchase a treasury bill with a maturity value of about $2,700,000 and a maturity date of April 2027 to designate for the May 2027 loan payment. Use funds from the Fifth Third Bank money market.

– Purchase a treasury bill with a maturity value of about $2,750,000 and a maturity date of April 2028 to designate for the May 2028 loan payment. Use the $500,000 capital projects fund transfer, $600,000 from the Fifth Third money market and $1,650,000 from the Fifth Third capital savings.

– Use future special assessment revenues to cover loan interest payments and final loan payment in 2029.

Before the vote, staff explained that the accountant’s recommendations will leave $457,000 in the general fund and $1,376,187 of undesignated funds in the capital projects fund for the CEPD.