The $21 Million Boatyard: How Smith and Neunder Paid Double for Two Acres
By Sarasota County Facts Research Team Published: March 31, 2026
The county is projecting tens of millions in deficits. It is drawing down its reserves. It nearly doubled its debt in three years. And in 2026, Commissioners Mark Smith and Joe Neunder voted to borrow another $21 million — to buy a two-acre boatyard.
The property sits at 1500 Stickney Point Road, on the mainland side of the bridge to Siesta Key: a 2.04-acre commercial site known as "The Boatyard," home to a waterfront bar, a jet-ski rental, and a cluster of small businesses. (Your Observer; Sarasota News Leader, 2026.)
Here is the part that should stop you. The seller, an LLC controlled by Sarasota restaurant-and-property investor Christopher Brown, bought the same property for $8.9 million in January 2024. Two years later, the county agreed to pay $18.1 million for it — more than double what the seller had paid. (Sarasota County property records, as reported by Your Observer.)
To be fair to both sides: the seller says he poured money into the site — docks, siding, plumbing, HVAC — though no public record substantiates any figure for that investment. The county says two independent appraisals supported the $18.1 million price.
But fairness cuts the other way too. The full authorization wasn't $18.1 million. Counting startup costs, operating impacts, debt service, and internal charges, commissioners authorized $21.36 million — and they are borrowing it, through a roughly $20.77 million loan. (Sarasota News Leader; Business Observer, 2026.)
So set the question plainly: with the county's own budget projecting deficits of $31.6 million, $40.8 million, and $39.2 million in the years ahead, and reserves already being drawn down, is borrowing $21 million for two acres of waterfront — for a park officials themselves call a "10, 15, or 20 year" vision — the act of a fiscally conservative government?
Four commissioners said yes. One said no.
The lone no vote was Commissioner Tom Knight. The two commissioners on the August ballot — Mark Smith of District 2 and Joe Neunder of District 4 — were in the majority. Smith said he'd like to find a way to accommodate the site's tenants; Neunder said he'd "love to see what it could be." Neither asked whether a county staring down structural deficits should be doubling someone's money on a two-acre parcel with borrowed funds. (Your Observer, 2026.)
This is what "small government" looks like in practice in Sarasota County: $21 million, borrowed, for two acres — one line item in the $876 million in new spending and debt Smith and Neunder presided over.
This August, District 2 voters can weigh Kristina Sargent against Smith, and District 4 voters can weigh Jim DeNiro against Neunder. We make no endorsement. But every time the bill comes due, it is worth asking who keeps voting to run it up.
Every number above is drawn from the county's own audited records. Read the derivations, then share this with a neighbor who's wondering why everything costs more. The Republican primary is August 18.
BY THE NUMBERS: County purchase price $18.1M for a 2.04-acre site ("The Boatyard," 1500 Stickney Point Rd). The seller bought it for $8.9M in January 2024 — the county agreed to pay more than double, two years later. Total authorized, with costs and financing: $21.36M, borrowed. Approved 4-1, with Commissioner Tom Knight the lone no; Smith (D2) and Neunder (D4) voted yes. Sources: Sarasota County property records; Your Observer, Sarasota News Leader, Business Observer (2026).
