Talks Break Down Over Warm Mineral Springs

Todays News

Photo courtesy City of North Port.

Negotiations ceased between North Port officials and a developer regarding the future of Warm Mineral Springs.

The city announced it had closed talks with WMS Development Group after both sides said the management plan was not feasible. WMS officials told the city they could not take on the operation of the spring, citing rising insurance and staffing costs.

The plan now will be for operation of the attraction to remain under control of the city Parks & Recreation Department.

“The City remains open to future opportunities that align with our shared vision for the future of this part of our community,” said City Manager Jerome Fletcher. “We are committed to making Warm Mineral Springs Park an asset we can all be proud of. The extensive research and analysis done during negotiations also gives us the confidence to move forward exploring a possible Phase II for the remaining acreage and the potential benefits it could bring to our taxpayers.” 

The years-long due diligence around discussions with WMS did provide valuable information for planning the future of the park, city officials said. If nothing else, officials now have in hand geotechnical and endangered species surveys showing what portions of land must be protected from development and where new structures can be built.

A real estate valuation by Hettema Saba also found the annual triple net market rent value for the operational portion of the springs is $495,000 and the market value for the undeveloped land is valued at $16.4 million.

Warm Mineral Springs has long been a major attraction for visitors and residents in North Port, with many living in the immediate area moving there for the perceived health benefits of regularly going into the springs.

The city adopted the current master plan for Warm Mineral Springs in 2019. But the project has been stifled routinely by costs for any development plans coming in much higher than expected.

Photo courtesy City of North Port.

« View The Monday Feb 5, 2024 SRQ Daily Edition
« Back To SRQ Daily Archive

Read More

Neighborhood Connections Manager Honored for Community Commitment

Neighborhood Connections Manager Honored for Community Commitment

Feb 5, 2024

Manatee County to Celebrate Grand Opening of Lakewood Ranch Library

Manatee County to Celebrate Grand Opening of Lakewood Ranch Library

Jan 8, 2024

McFarland to Minors: Delete Your Account

McFarland to Minors: Delete Your Account

Jacob Ogles | Jan 8, 2024

Corrections Supervisor Graduates from Florida Leadership Academy

Corrections Supervisor Graduates from Florida Leadership Academy

Dec 25, 2023