Challenge match launched for signature Sarasota park

With work on Phase 2 nearly completed and Phase 3 planning underway, The Bay Park Conservancy and Gulf Coast Community Foundation are partnering to help fund completion of The Bay park. The GCCF has launched a new $2 million challenge to encourage the public to co-invest in completing the park.

The GCCF Board of Directors approved a $1 million grant, which was doubled by anonymous donors, to seed the capital campaign. Donors who give by June 30, 2027, will have their gift matched dollar for dollar, helping raise $4 million to complete and sustain the park. Donations can be made on The Bay website. 

The Foundation has supported The Bay park since its inception.

“Almost every day, The Bay is hosting something that brings people together — free and open to everyone — whether it's a walk in nature, a fitness class or a movie under the stars," said Gulf Coast Community Foundation President and CEO Phillip Lanham in a news release announcing the challenge match. "We're deeply grateful to the anonymous donors who partnered with Gulf Coast to bring this match to $2 million. That's an investment in this region that will pay dividends for generations to come."

More than 1.2 million people have visited the city-owned The Bay since the park opened in October 2022. When complete, it will leave 53 acres of resilient green space and parkland while also treating millions of gallons of polluted stormwater before it enters Sarasota Bay.

“This challenge match from Gulf Coast demonstrates the ongoing importance of The Bay and its growing positive impact on the environment and on people throughout the community,” said Bay Park Conservancy Founding CEO AG Lafley in the release. 

The first 10-acre phase of the park opened in October 2022. Design and development of Phase 2, the next 14-acre $65 million development, is fully funded and underway with expected completion in 2027. The park, in total, will cost an estimated $200 million and take approximately eight to 10 years to complete over four or more phases.

The BPC funds 50% of the capital cost and continuing operations via philanthropic giving. The remaining 50% is funded publicly via a tax increment financing district on improved tax values on property surrounding the park.