Cape Coral City Council tentatively approved an agreement Monday night with Carmine and Betty Serrago, owners of Yacht Club favorite KC’s Riverstop Cafe.
The terms of the agreement require the Serragos to pay $2,850 a month in rent, plus sales and property tax, which brings their monthly bill to around $4,000.
The length of the contract is three years with a renewal option of three years.
What’s left is for city attorneys to draft the contract for the Serragos’ attorneys to approve. If all goes accordingly, the agreement will bring to a close a sometimes heated negotiation process between the Serragos and the city.
“I’m glad to see that reasonable minds were able to make this work,” Councilmember Kevin McGrail said. “This should make 2,000 people very happy.”
With KC’s lease set to expire this year, the Serragos hosted a petition drive last year to gain community support.
They collected the more than 2,000 signatures referenced by McGrail, and at times packed city council chambers with their supporters.
Last week it seemed that talks had stalled somewhat, but the two sides were able to make an agreement work for both parties.
Carmine Serrago said he felt more comfortable with a five year renewal. He found some support on the dais for his request, but council ultimately stuck with the three year renewal option.
Council member Bill Deile agreed.
“We’re at a point where I can accept this,” Deile said. “Under the previous contract we were netting less than $9,000 a year. We’ll be doing considerably better under this new contract.”