The Downtown Investment Authority staff again recommended that the city end negotiations with the developer of the Laura Street Trio on the latest round of requests for public incentives to resurrect the historic buildings, according to News4JAX’s news partner the Jacksonville Daily Record.
The Downtown Investment Authority staff again recommended that the city end negotiations with the developer of the Laura Street Trio on the latest round of requests for public incentives to resurrect the historic buildings,A staff report scheduled to be discussed at a Friday board meeting states that “staff cannot recommend continuing negotiations for approval of City funding in the Laura Street Trio redevelopment provided” by SouthEast Development Group LLC.
Steve Atkins, principal of SouthEast and owner of the buildings since 2013, said he was caught off-guard by the report, but that he supports the move. “In my mind, there’s nothing more important for Downtown. Now that the stadium deal is done, this is front and center. And the only way I think something is going to happen is if we work directly with the Council,” AtkinsDIA documents put a $194.2 million price tag on the renovations with SouthEast requesting about $89 million in city incentives. Those numbers, according to a DIA report, put the city “at risk” and is seen by staff as not worth consideration.
News4JAX has heard from several sources that there could be loans and incentives for the project that could total close to $67 million from the city, but nothing has been decided.“As a friend of mine said, this is kind of like Moby Dick, you know, and but I think maybe we got the harpoon in this time, and we’re going to reel it in,” Carlucci said.Digital reporter who has lived in Jacksonville for over 25 years and focuses on important local issues like education and the environment.
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DIA again recommends ending negotiations with Laura Street Trio developerThe Downtown Investment Authority staff again recommended that the city end negotiations with the developer of the Laura Street Trio on the latest round of requests for public incentives to resurrect the historic buildings, according to News4JAX’s news partner the Jacksonville Daily Record.
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