$omething $tinks at $lipaway!
- Joint - Shadrach & L'Hommedieu
- Jul 28
- 4 min read
Updated: Aug 4
There’s no denying that Slipway Marina is a beautifully executed project and a welcome addition to Cape Coral. On weekends, especially Friday through Sunday evenings, it’s bustling. But during the week, it seems to have more staff than customers. Behind the scenes, questions are surfacing: Did they overspend? Are they breaking even?
We have spoken to food truck owners on-site, and some have confirmed they are being charged around $6,000 a month in rent, a steep price tag for businesses operating in a space that lacks consistent weekday traffic. And with the city’s recent crackdown on food trucks and carts, one has to wonder: How are they getting around the new restrictions?
Great aesthetics don’t guarantee long-term viability. It’s time the public gets a clearer picture of the financial model behind Slipway and whether it’s built to last.
In a letter dated May 7, Annette Barbaccia, on behalf of Cape Parkway LLC, addressed the city's Economic Development Director stating that they “are requesting a total of $2,868,525 in tax increment financing and business infrastructure grant support from the Community Redevelopment Agency for the proposed Slipaway project, consistent with our prior Tax Increment Financing and Business Infrastructure Grant requests submitted to your office.”
Slipaway Cape Coral is seeking funding through a Tax Increment Financing (TIF) request for up to $726,561 and a Building Improvement Grant (BIG) of $250,000. The developer, Cape Parkway LLC & Water City Park LLC, is requesting these funds to offset costs associated with design changes and construction related to a new seawall, gravity wall, and deacceleration lane. The total project cost is $19.4 million.
The CRA is for REDEVELOPMENT, not areas that are already REDEVELOPED. Too little, too late, we say!
How does the CRA play into all this?
Council Member Bill Steinke (District 1), who serves as chair of the committee, is employed by Aubuchon, one of the primary investors. This raises potential concerns about a conflict of interest regarding the introduction of Slipaway, as well as questions about possible incentives from Aubuchon to an employee in a position to influence outcomes.
There are additional potential conflicts of interest related to Slipaway. Council Member Keith Long previously provided legal services for the business’s liquor license, and Council Member Rachel Kaduk is employed by the bank that financed the project. Furthermore, Mayor Gunter, a builder by profession, and his wife, a realtor, could have perceived conflicts given that the owners of Slipaway are developers and real estate brokers. Council Member Jennifer Nelson-Lastra has also received past campaign support from Realtor Associations, with which Slipaway’s owners are closely connected.
Notably, during the last council meeting when a vote on the Slipaway incentives was scheduled Keith Long was absent, and Kaduk (doctor appointment) and Gunter walked out, resulting in a loss of quorum. As a result, the decision was deferred to the next meeting on July 30, allowing all council members the opportunity to vote. Since the Slipaway project is already completed, it arguably does not align with the original intent of the incentive program.
The Cape Coral City Council Took Over the CRA, But At What Cost?
The Cape Coral Community Redevelopment Agency (CRA) was once run by a volunteer commission until the City Council voted to take control. Their first major action? Voting themselves a stipend that effectively doubled their pay. Now that the council members serve as CRA commissioners, the question is: Are they actually doing the work?
Next Wednesday, July 30th, the CRA (i.e., the Council) will vote on a new budget that increases the personnel and operating costs by a staggering $1,171,476, a 132% jump over the actuals from FY 2024. Rather than stepping up, the Council outsourced much of the work. They’ve hired additional staff and outside consultants to perform tasks that volunteers once did without costing the taxpayers a dime. The math is simple: this takeover cost taxpayers over $1 million in just one year. Meanwhile, the Council argues they’ve “refocused” on the CRA’s original mission. But let’s not forget they always had oversight. They always had a liaison. And the City Manager has always served as Executive Director.
So what’s changed? Less money for redevelopment projects. More money for bureaucracy.
Tax Dollars, Dirty Deals, and $lipaway?
Most, if not all, council members attended the Slipaway event held on July 4. The event charged the public an entry fee of $100, with additional costs for use of boat slips. A photo published by The Breeze shows Council Members Gunter and Steinke enjoying the day aboard Gunter’s boat, docked in a Slipaway slip. This raises the question: Did the council members and city staff in attendance pay for their participation, or was this a complimentary benefit potentially tied to influencing a "yes" vote on the proposed $1 million grant and tax abatement?
Many have speculated that Slipaway will not last. Many new ventures experienced a surge in popularity and then declined significantly after the initial hype dies down. If they go belly up, will the owners be responsible for returning the funds to the CRA? We wonder about the luxury cost of Slipaway, it questions the longevity. Condos, next to replace it some say.
You can watch the full CRA meeting from May 14th, 2025, HERE
Wednesday, July 30, 2025 At 9:00 AM, a regular meeting of the Cape Coral Community Redevelopment Agency will be held in Council Chambers (2nd Floor), at City Hall, 1015 Cultural Park Boulevard, Cape Coral, FL 33990. An agenda for this meeting will be available on the City website - HERE