Updated Agreement Means The Bay Park Will Open 5 Years Earlier, Cost $20-30 Millions Less

SARASOTA, FL — The Bay Park, a 53-acre waterfront project on city-owned land along Sarasota Bay, will open five years earlier than planned thanks to an amended partnership agreement between the city of Sarasota and Bay Park Conservancy, the nonprofit organization overseeing the park’s redevelopment.

This second amendment to the partnership agreement, approved by city commissioners Monday, will also save the city, taxpayers and donors $20 to $30 million, according to a news release from the nonprofit.

It saves about $15 to $20 million in capital costs and another $5 to $10 million in BPC operating expenses, the organization said.

The amended partnership agreement establishes a simpler, streamlined process for designing, planning, funding, building, operating and sustaining the park by consolidating multiple agreements, as well as the city-approved Bay Master Plan for the land, into one document.

“In putting our park together, we visited with children from all over and asked them to dream with us and imagine the possibilities of The Bay. Well, you can't ask a kid to dream, and then not deliver,” Cathy Layton, board chair of The Bay Park Conservancy, said. “This decision (by commissioners) was about giving a successful partnership the room to succeed, sooner and more cost effectively, so that those children can see their dreams become a reality.”

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Commissioner Hagen Brody added, “Smart delegation to qualified people is a sign of good governance and good leadership. We’re excited to take this next step in ensuring that we develop a park that can soon be enjoyed by our entire community.”

The approved Bay Master Plan will conserve 53 acres and create an iconic public park along Sarasota Bay. The Bay is on track to open phase one of the park in the summer of 2022. It will cost about $100-150 million and will take between seven to 10 years — over three or more phases — to complete.