Wooden poles and overhead wires still run along Benjamin Franklin Drive. In July, the Sarasota City Commission voted to start the process of removing them. The plan covers Lido Key, Lido Shores, the St. Armands residential streets, the St. Armands business area and City Island. Property owners would pay for it through a special assessment.
Right now that cost isn't on a property tax bill, a condo budget or a title commitment. A home or condo on these islands that sells this fall will close with only an informal estimate to go on. Parcel-level ranges are expected this winter. An adopted amount would come later, through 2027 hearings, and only if owners and the Commission approve the project. That gap is the transaction issue for buyers and sellers in Lido, Lido Shores and St. Armands.
What the July 20 votes created, and what they didn't
The Commission voted 5-0 twice. The first vote approved a $7.95 million professional services agreement with Utility Consultants of Florida, a firm based in Largo. The second adopted Resolution 26R-3408, which authorizes an $8 million tax-exempt line of credit with Regions Capital Advantage. The city will use that credit to cover costs until assessments can repay it.
Public Works Director Nikesh Patel kept the scope of those votes narrow. Longboat Key News quoted him telling commissioners: "Today's actions do not create an assessment district. They do not impose an assessment, and do not authorize construction."
The consultant contract has two parts. Phase 1 costs $3.17 million. It pays for surveys, subsurface utility mapping, preliminary engineering, coordination with FPL, an assessment method that can hold up under Florida law, and a public website. On that site, Patel said, owners will be able to "click on a specific property and be able to know what the assessment would be." Phase 2 costs $4.77 million and covers construction, cutovers and pole removal. It can't go ahead without another vote by both the property owners and the Commission.
The city's planning has a time limit. It can draw on the credit line through July 2028. If owners turn the project down after Phase 1, the city still owes up to $3.17 million plus interest, paid from non-ad valorem revenues.
Where the $10,000 figure came from
The number people repeat is about $10,000 per property, paid over roughly 20 years. It came from the residents' associations, not from city staff. St. Armands Residents Association Vice President Charles Haff told commissioners, as Your Observer reported, "Those are the numbers that have been discussed in our meetings with all of our residents, and that's the number people are kind of prepared for." The same report quoted Lido Key Residents Association President Carl Shoffstall: "We floated those numbers out there and nobody had anything negative to say about it."
Spread over 20 years, that works out to about $500 to $600 a year. It would be collected as a non-ad valorem line on the annual tax bill. When Mayor Debbie Trice asked whether the figure was realistic, Patel wouldn't speculate. According to Longboat Key News, he said only that the floated numbers "are comparable to the Town of Longboat Key."
The comparison matters. The Longboat Key project is finished and has its own numbers. The two projects also share some names. Mark Porter signed the Sarasota agreement for Utility Consultants of Florida, and he briefed Longboat residents on that town's rollout in 2019. The Sarasota team includes CDM Smith on engineering, Willdan on assessment methodology and Valerin on outreach. Willdan Financial is also the firm Longboat Key brought in to recalculate its own assessments this year.
How Longboat Key's version reached individual owners
Longboat Key didn't charge a flat amount per home and a different flat amount per condo. The Town gives each parcel equivalent benefit units, called EBUs, and adds the cost of any on-site work needed to connect that parcel. That's why early estimates covered such a wide range. A 2016 neighborhood estimate put annual payments anywhere from $32.16 to $722.70, depending on whether a property already had underground service and how much it was expected to benefit. That same year, condo residents protested a proposed charge of as much as $345 per unit a year over 30 years. Commissioners then delayed the decision.
The Town's closeout memo, dated August 4, 2026, gives the final figures:
| Longboat Key undergrounding | Gulf of Mexico Drive | Neighborhoods |
|---|---|---|
| Referendum date and amount | Nov. 3, 2015, $25,250,000 | March 15, 2016, $23,850,000 |
| Share of assessments prepaid | About 20% | About 16% |
| Assumed interest rate vs. actual bond rate | 6% vs. 3.91% | 6% vs. 4.01% |
| Total project cost | $20.6 million | $21.9 million |
| Reported savings | $4.65 million | $1.95 million |
| Remaining debt after Aug. 1, 2026 redemption | $3,205,000 | $10,570,000 |
| Tax year 2026 average annual assessment, Sarasota County | $60.98 | $80.23 |
On the Manatee County side, the tax year 2026 averages are $61.73 for Gulf of Mexico Drive and $142.03 for the neighborhoods. Lower interest rates than the Town assumed, plus prepayments and investment income, paid down debt early. Annual bills are lower now than the original calculations projected.
Lower annual bills, same principal balance
According to the closeout memo, the recalculated annual rates "reduce the annual collection but do not reduce or discharge the underlying principal assessment used for lien, prepayment, and parcel adjustment purposes."
The memo also says owners may prepay at any time, and calls prepayment "a common occurrence during real estate transfers." In 2019, Your Observer described buyers asking sellers to pay off the outstanding assessment in one lump sum. That was something buyers negotiated for, not a rule every sale had to follow.
Florida's collection rules explain why this kind of charge comes up at closing. The Sarasota County Tax Collector explains that one real estate tax bill combines ad valorem taxes with non-ad valorem assessments. The assessments are based on the levying authority's unit of measure, not on the property's value. Under section 197.3632 of the Florida Statutes, assessments collected this way appear on that combined notice. Florida law treats tax liens as attaching to the assessed property until they're paid. On Longboat Key, then, each sale handles two separate figures: the annual installment due this year and the principal that remains.
Which window a Lido sale falls in
The Lido program is following the same path as Longboat's, from estimate to adopted assessment to lien. Where a sale lands on that path decides what information both sides have at the table. The dates below are the city's working schedule as reported in August, not fixed deadlines.
| Window | What exists for a given parcel |
|---|---|
| Now through fall 2026 | An informal per-property estimate of about $10,000. No parcel-specific figure or adopted method. |
| Winter 2026–27 | Staff expects to bring parcel-level assessment ranges to the Commission. The parcel lookup site is planned as part of Phase 1. |
| Through 2027 | The community support process, assessment resolutions, mailed notices and public hearings. The Commission sets the support threshold. Patel referred to at least 60%, with 75% also possible. |
| November 2027 | Target date for the first assessments to appear on the tax bill. |
| Late 2027 to 2030 | Contractor procurement, then construction in three segments starting in early 2028. The last segment starts in 2030. |
Two open questions could change the numbers in that table. The first is how the cost will be split. City staff initially wanted one assessment for the whole barrier island, partly because government property on City Island makes a piece-by-piece approach harder. The consultant will look at splitting it into districts. Trice wants that option kept open so that if Lido votes yes and St. Armands votes no, the project could go ahead in one area alone. The second is how a condo unit will be treated compared with a single-family parcel. Nothing published so far settles it. If Longboat Key is any guide, the answer will come out of a benefit-unit formula, not one flat rate.
Undergrounding won't affect flooding. Longboat Key News points out that burying lines does nothing to lower storm surge on Ben Franklin Drive. What the program targets is the outage after a storm. Patel said some Lido and St. Armands customers went without power for about a week after the 2024 storms, and some for about a month.
Frequently Asked Questions
Is there an undergrounding assessment on Lido Key property today? No. The July 20 votes didn't create an assessment district or impose any charge. If the process stays on schedule, the first bill is targeted for November 2027.
Who decides whether it goes forward? Both the affected property owners and the City Commission have to approve it. The Commission will set the level of support required. No state or local ordinance sets a minimum.
How many properties are involved? About 3,500 homes, condos and businesses on the islands, according to Longboat Key News.
Did Longboat Key's project come in on budget? The Town reports final costs of $20.6 million for Gulf of Mexico Drive and $21.9 million for the neighborhoods, with combined savings of about $6.6 million.
If you plan to buy or sell on Lido Key, Lido Shores or St. Armands before the parcel-level figures come out, Sarasota Beach To Bay will track each step of the city's assessment process with you. Debra Lichter can go over how your timing lines up with the schedule, so you know which of these figures will exist when you sign. Schedule a Private Consultation.
This article is general information, not legal, tax or financial advice. Consult a qualified professional about your situation.
