JACKSONVILLE, Fla. — City Council members met with Gateway Jax to discuss the developer’s request for a $49.65 million incentive package for its N7 block, which includes a proposed downtown Publix.
Councilman Matt Carlucci held the public meeting with other city leaders and the developer to discuss why the project needs the incentives. Of the requested funding, $28.25 million would come from a completion grant drawn from the city’s general fund.
“I’m here to say this will be the last completion grant that we will be asking for from the general fund of the city,” Gateway Jax CEO Bryan Moll said.
Moll said he believes the grant would help unlock future involvement from Gateway Jax and other developers.
Carlucci supports awarding the incentive package, saying downtown developers face different obstacles than those building in the suburbs.
Earlier this month, City Council delayed a vote on the incentives because of uncertainty surrounding Amendment 3. If voters approve the homeowner property tax cuts next month, the change would have a major impact on Jacksonville’s budget.
Moll said the Publix project would be especially needed if the amendment passes, pointing to commercial rather than residential property taxes.
“It is a commercial property tax, not residential. So I know there’s been some comments from council members about let’s wait and see what happens,” Moll said.
“With Amendment 3, we think it’s even more important if Amendment 3 passes,” Moll said.
The incentive package will return to the Finance Committee on Nov. 4, the day after the election.
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