Manatee County is buying the Shack.
Commissioners voted Sept. 5 to acquire the Seafood Shack Marina, Bar & Grill in Cortez for $13 million.
The commission adopted a resolution by a 6-0 vote, amending the county budget for 2023-24 to facilitate a sales contract between the county and Vandyk Properties, owners of the Seafood Shack and adjoining properties at 4110 127th St. W., Cortez.
The contract is expected to be finalized in October.
The two-story waterfront restaurant with banquet, restaurant and bar seating for 650 patrons, and the marina, including 94 wet slips, 30 dry slips and transient dock space, have long been fixtures in the Cortez community.
In 1971, Ham Jones constructed the marina and then built an elevated restaurant a year later. There were several expansions, including the ground-level restaurant and bar.
The transaction also will include seven upland parcels totaling 5.9 acres and two submerged land leases of roughly 2.9 acres, making for a total of 8.8 acres.
According to a presentation from the county property acquisitions department, the county intends to provide public boating access, including a ramp and dry storage.
Submerged land leases attached to the property are expired. However, according to the budget amendment, Vandyk has temporary-use agreements in place with the state and the county intends to establish a permanent submerged land lease with the state.
If acquired, the county will increase the number of boat trailer parking spaces countywide by 25%.
The county offers nine saltwater-access boat ramps with 17 launch lanes and 234 trailer spaces.
Vandyke opted not to pursue future development of the property after realizing the site’s incompatibility with their objective to create a luxury condominium development, Coldwell Banker real estate agent Elliot Rose said in August 2023. The property was listed for $15 million in April 2023.
In May, the county sought appraisal by Colliers Valuation and Advisory Services of Tampa, which valued the property at $12.5 million.
The county negotiated a purchase price of $13 million with Vandyke a month later, according to the county presentation.
During the meeting, commissioners discussed the expense of restoring the properties.
County chief financial officer Sheila McLean said there is $20.8 million in the capital improvements fund and other streams of revenue to be used to cover costs associated with the project.
“There’s a multitude of funding sources that are paying for it. We are using impact fees. We are using our own cash reserves and some infrastructure sales tax,” McLean said.
Commissioners also discussed the potential for revenue generation and, while the presentation was unclear if the restaurant would continue to operate, some alluded to a continued use of the existing buildings.
“I assume the board will just act as a landlord and essentially create a revenue source by leasing slips and continue to lease space to those businesses that are already there,” Commissioner Kevin Van Ostenbridge, R-District 3, said. “We’re not looking to put anyone out of work.”
Van Ostenbridge motioned to approve the resolution amending the county budget and approving the sales contract. The motion was seconded by Commissioner Jason Bearden and passed 6-0. There was no District 1 commission vote, as the seat previously held by James Satcher, who was appointed to elections supervisor, remains vacant.
There was no comment from Vandyk Properties about the property’s potential sale.