JACKSONVILLE, Fla. — Gateway Jax will ask the city Tuesday night for not one but two multimillion-dollar incentive packages for two of its downtown projects. One is for the so-called N7 block, which includes a proposed Publix Downtown. The other is for a planned riverfront plaza hotel and residential tower.
It will be interesting to see what happens, because now that Amendment 3 has passed, some city councilmen are skeptical that the city can afford to do this. On the other hand, some city leaders say it’s needed for downtown’s long-awaited revitalization.
>>> STREAM ACTION NEWS JAX LIVE <<<
The developer for the N7 proposal was initially asking the city for a $49.65 million incentives package, with a $28.25 million completion grant coming from the city’s general fund. An amendment to the bill could be presented Tuesday night in which only $9 million would be pulled from the general fund, and the remaining amount would come from the DIA and another building in the Pearl Square project.
After Amendment 3 passed last week, the Finance Committee split 3-3 on the bill. Gateway Jax sent Action News Jax a statement shortly after, saying, “This project cannot move forward without that partnership.”
Council President Nick Howland then pulled the bill out of committee and placed it on tonight’s agenda for a full City Council vote.
Councilman Rory Diamond is against the incentives package.
“If it doesn’t work on your own money, then don’t take our money to do it,” Diamond said.
Councilman Matt Carlucci is for it, even with Amendment 3 passing.
“Downtown developers run into obstacles that normal developers don’t run into. Out into the suburbs, it’s different. It’s a different game,” Carlucci said.
Tuesday night, a nearly $55.4 million incentive package is being proposed to City Council for the riverfront plaza hotel and residence tower. It would include a 4- or 5-star hotel with 130 to 170 rooms, 50 to 150 condos or residential units, two restaurants, and a public sky view terrace.
Action News Jax asked Diamond what he thought about the developer’s new ask.
“All these developers just have their nose in the trough, and it’s time to take their noses out of the troughs,” Diamond said.
Action News Jax reached out to Gateway Jax CEO Brian Moll and asked if Gateway Jax would be able to complete this project without the partnership with the city, and what would happen to the work already done on both projects if the city rejects the incentive packages. He was tied up but says he’s able to speak with Action News Jax after tonight’s City Council meeting.
[DOWNLOAD: Free Action News Jax app for alerts as news breaks]
[SIGN UP: Action News Jax Daily Headlines Newsletter]
Click here to download the free Action News Jax news and weather apps, click here to download the Action News Jax Now app for your smart TV and click here to stream Action News Jax live.