Status of CMP Contract

Eleven weeks ago, the Community Maritime Park Associates Board of Trustees approved Land Capital Group as the master developer for the park. The goal was to have a contract signed by Sept. 30.

We had IN reporter Sean Boone check on the status of the contract:

According to the Pensacola Interim City Manager Al Coby, the Community Maritime Park project will remain at a standstill until a contract between developer Land Capital Group and the city is finalized.

“We won’t start working (on bond issues) until we have finalized the contract,” he says. “It could be done in the next 90 days.”

Coby says Land Capital has already been working on the contract and could have a rough outline ready to present to the Community Maritime Park Associates (CMPA) by the first of December.

“Once the draft is presented to the CMPA the city will then review the draft contract,” he says. “It’s then the contract with the CMPA that the city has to approve.”

Land Capital head Scott Davidson says his company approved another draft on Monday that he hopes will be the final one that is negotiated upon.

“It is all going really well,” he says. “We are probably 98 percent complete. Should (have the draft done) in the next couple weeks.”

Note: My suspicion is that the contract won’t be finalized until January 2009. Nothing moves fast inside city government.