An ordinance would authorize payment of more than $68,000 to close the dispute related to the parking lot at the demolished structure.
An ordinance will be introduced Aug. 25 to City Council that would approve a final settlement agreement regarding the city’s potential liability for taxable costs related to a lawsuit filed by the city against Jacksonville Landing Investments.
On Dec. 12, the court entered a judgment for payment of about $3.7 million by the city to JLI to settle the 5-year-old dispute about ownership of a parking lot adjacent to the demolished Jacksonville Landing.
JLI filed a post-judgment claim for taxable costs including court costs, copying costs, expert costs, etc., for $136,732.04.
Under state law, JLI is entitled to recover taxable costs, but the amount of those costs is in dispute, according to the Legislative Fact Sheet filed with the proposed ordinance.
The city and JLI have agreed, subject to Council approval, to settle the issue for $68,366.02 (half of the demanded costs).
Money was transferred from the Mayor’s Budget Review Committee to the General Fund - Judgments, Claim and Losses Over $50,000 account to pay the settlement, according to the fact sheet.
Be the first to know the latest breaking news and information that business leaders rely on in this fast-paced changing Northeast Florida economy. Regional business news, trends and statistics needed to grow your business. Key upcoming events you won’t want to miss and much more. Click Here to Grow your Business NOW!