The Captiva Island Fire Control District’s commission voted unanimously (3-0) on October 15 to authorize the submission of a Letter of Intent (LOI) to the Rauschenberg Foundation for the acquisition of three bayside parcels on Captiva.
Details of the LOI and Intended Use
The LOI outlines the District’s intent to purchase the land—approximately 9.81 acres—to significantly improve and expand its operational capacity for the immediate benefit of residents and visitors.
The District stated that securing this strategically located property is vital for improving response times and ensuring resilience during high-stress emergency events. The intended uses for the property include:
- Future development of a resilient fire station.
- A permanent helicopter landing zone for medical emergencies.
- Dedicated facilities to stage and distribute emergency supplies after a natural disaster.
- Creation of a fire training facility.
- Construction of a fire boat docking area.
Purchase Terms and Offer Price
Commissioner Jeff Brown, who worked on the due diligence, reported on the terms detailed in the non-binding LOI:
- Offer Price: Following discussion, the commissioners reached a consensus to offer $22 million for the three parcels, slightly below the appraiser’s valuation of $27.6 million. Commissioner Carole Campbell noted, “Our offer has to be attractive,” and the board agreed the $22 million offer would be their “only chance.”
- Earnest Money: The District would provide $25,000 in earnest money upon submission of the purchase agreement, with an additional $25,000 provided after a 60-day due diligence period, totaling $50,000 toward the final cost.
- Full Property Sale: While the District prefers to purchase only the three parcels, it acknowledged the Foundation’s preference to sell all 22 total acres in one transaction. The LOI conveys that the District is open to working with a full-property buyer to acquire the needed parcels.
- Closing Timeline: The District is aiming for a closing date of April 10, but no later than October 30, to accommodate the Foundation’s final residency program season.
Referendum Requirement
The purchase is contingent upon approval by Captiva voters. Fire Chief Jeff Pawul reported that the Lee County Elections Office requested the referendum vote be set for February 10 (instead of the originally discussed January 27) to allow for the timely mailing of overseas ballots. The necessary information must be submitted by November 12 to meet this timeline.
