Issue link: https://newsleader.uberflip.com/i/190797
Sarasota News Leader October 11, 2013 Page 59 Gleitsman added that six banks responded to the county's solicitation for a loan package. They provided nine funding variations representing both floating and fixed rates. The bank chosen is a subsidiary of SunTrust bank; it offered a 2.29 percent fixed interest rate for 11 years. "That sounds really good. Thank you," Commissioner Nora Patterson told Gleitsman, referring to the rate. Commissioner Joe Barbetta made the motion to approve the deal. "I want to get this project moving," he said. "It's been delayed long enough." Richard Gleitsman addresses the County Commission about the loan for the Siesta Beach Park improvements. Photo by Rachel Hackney In response to a question from Barbetta, Gleitsman told the board the closing is schedEEZ PUBLIC HEARING uled for Oct. 10. Brad Gaubatz, the county project manager in charge of the beach improvements, told members of the Siesta Key Village Association last week that the County Commission is scheduled to hear a presentation on Oct. 22 regarding a Guaranteed Maximum Price (GMP) for the work. If the board approves the GMP, the work can get under way. It is expected to take two years. On the morning of Oct. 23, the County Commission will hold a public hearing at the Administration Center in Sarasota regarding proposed changes to its ordinance governing a pilot Energy Economic Zone (EEZ) in the southern portion of the county. The start of the work — which has been scheduled for November — could be delayed, though, Gaubatz said. It was supposed to begin after completion of the adjacent stormwater project on Siesta Key, but construction of the new stormwater pond has been on hold because of the rainy weather in September. On Sept. 11, the board approved tweaks that would change the geographic boundaries of the EEZ, revise energy usage standards for businesses applying for incentives through the zone and rebrand the EEZ as the Sustainable Energy Economic District (SEED) Incentive Program. The vote to advertise the public hearing was unanimous.