VERO BEACH — At a special call meeting on July 18, the Vero Beach City Council convened to discuss the future of its ambitious marina project, weighing multiple funding and management strategies.
The meeting began with a detailed presentation assessing the financial feasibility of the $25.9 million project. It was determined that the project would be good for the city within a 50 years, but it would take 25 years for it to see a profit. The presentation set the stage for a debate among council members on the best path forward for the city’s waterfront investment.
While the marina’s financial forecast painted an optimistic picture, Mayor John Cotugno raised concerns about the city’s ability to execute the project efficiently, referencing past challenges with city-run initiatives…