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Jax Daily Record Wednesday, Nov. 25, 202003:40 PM EST

DIA to discuss, vote on $450 million Lot J proposal Dec. 2

The Downtown agency will distribute its staff report on the Mayor Lenny Curry administration negotiated deal no later than Dec. 1.
by: Mike Mendenhall Staff Writer

The Downtown Investment Authority’s staff report on Jacksonville Jaguars owner Shad Khan’s $450 million Lot J proposal will be complete no later than Dec. 1, according to the agency. 

The DIA released the agenda for a special meeting on Dec. 2 that says its board will discuss the staff’s findings, the City Council Auditor’s presentations and responses and the revised development agreement from the Jaguars development team and city negotiators.

The agenda also includes a vote on whether to recommend approval, denial or changes to the Lot J deal.

The 2 p.m. hybrid virtual and in-person meeting will be at the Downtown Jacksonville Public Library  Conference Center Multipurpose Room, according to the agenda. 

Council voted 15-4 Nov. 24 to back a resolution that called for the DIA to review a $233 million incentives deal for Khan’s proposed mixed-use residential, retail and entertainment partnership with the city.

DIA staff will not be involved in the final negotiations with Khan’s development company, Gecko Investments LLC, and Lot J partner Baltimore, Maryland-based The Cordish Companies. 

A counter-proposal by Council member Matt Carlucci that would have replaced Mayor Lenny Curry’s negotiating team with DIA staff to complete the remaining talks with Gecko and Cordish failed to gain enough votes to be brought to the floor for debate Nov. 24.

The project includes a city-owned 100,000-square-foot Live! District entertainment venue; 75,000 square feet of retail; 40,000 square feet of Class A office space; and a 150- to 250-room hotel.

The DIA board already recommended approval Nov. 18 of the $12.5 million residential Recapture Enhanced Value Grant in the deal and voted to award Khan and Cordish development rights for the project.

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