Potential impacts on taxpayers of Lot J revitalization

Who will pay to redevelop Lot J?

There are new questions on who will pay for a $2.5 billion redevelopment of the sports complex that includes Lot J.

Action News Jax first told you Thursday the Jaguars announced a proposed public-private partnership to build an upgraded marina, shopping, retail, a high-end hotel, convention center and more.

But there is no indication yet on how much of your taxpayer dollars could be spent.

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“Over the course of time, taxpayers will contribute more than ownership groups do,” says UNF sports business professor Kristi Sweeney.

But like all that glitters, this has a golden price tag of $2.5 billion.

The hope is that new economic activity will lead to the revitalization of downtown.

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“Very exciting, visionary, aspirational, important piece of it is creating jobs,” said Jacksonville Mayor Lenny Curry at a news conference on Thursday.

But many of these jobs could be temporary, like construction, or low-paying like retail or restaurants.

Jaguars fan Susan Hughes says the city needs to make sure it gets out of the investment, what it puts in.

“Same percentage,  if it’s 50-50, 50-50, if it’s 40-60, 40-60,” says Hughes.

Sweeney says the development has potential, if executed correctly and taxpayers have to be opened-minded.

“I don’t want to say they have to be willing to go along for the ride, but to see a vision and what it’s going to look like 10 years from now,” says Sweeney.