Bradenton borrows $8 million to pay for new garage. The final cost remains a mystery

The city still can't tell taxpayers how much a new downtown parking garage will cost them.

On Wednesday, the city council unanimously approved securing an additional $8 million loan through the Florida League of Cities to help pay for the garage. Already, the city has already spent $2.7 million for demolition and other initial work.

The final cost is unknown, according to Planning and Community Development Director Catherine Hartley, because the development team has not yet submitted to the city final construction documents, which will determine a guaranteed maximum price.

One estimate is that it could cost as much as $12 million.

"The structure itself won't see a lot of changes but the council still needs to decide all of the bells and whistles that will determine those final costs," Hartley said.

Last month, the developer tried to tried to submit plans without the council's final review. That sparked the council to push for the process to get back into the public's spotlight. Officials called for a workshop with the development team as soon as possible.

Each council member has met privately with the architects to provide input on the design features they want to see but have not met as group to discuss the project since January, when it approved conceptual plans for the garage.

Officials were impressed, saying it would be an iconic addition to downtown, but since then have raised concerns as to whether the design is still as iconic as initially presented.

In the meantime, site preparation continues. The former parking lot and Manatee Chamber of Commerce building have been demolished and foundation work is proceeding. Funding is being approved but final costs and design remain unknown to taxpayers.

Economic Development Director Carl Callahan said the city has always had a budget in mind — $12 million — and a path to paying for it. He said Wednesday's decision is another step, "as we work through this methodical process."

The city still owes $900,000 on the city hall complex, built in the late 1990s for $9.1 million. Callahan said the last two years of that loan will be paid off this year out of the city's reserves. He said the city would then be able to pay off the debt for the garage.

"So we'll have an ongoing debt service with this, but with no long term impact to our budget," he said.