City Council President Tommy Hazouri issued a memorandum Oct. 8 outlining the procedure and timeline for review of the proposed agreement for the $445 million mixed-use Lot J development Downtown west of TIAA Bank Field.
Mayor Lenny Curry and Jacksonville Jaguars owner Shad Khan announced the project Oct. 6. It is a joint venture of the city, Jacksonville Jaguars affiliate Gecko Investments and The Cordish Companies.
The city’s share of the investment is projected to be more than $200 million.
“This will require the Council’s significant attention and deliberation,” Hazouri wrote.
He said he does not want legislation filed until it is complete and encourages the administration to file an ordinance comprising a development agreement, financial terms and all necessary contracts.
The completed bill will be added to the addendum to Council’s next agenda, Hazouri said.
The memorandum points out that the administration has indicated that the Lot J legislation will be ready for introduction at the Oct. 13 Council meeting.
“Upon filing, I intend to assign the legislation only to the Committee of the Whole, so that all Council Members can be equally informed and be able to ask questions and voice any concerns.
The Committee of the Whole comprises the 19 Council members.
“To ensure that all questions can be answered thoroughly, the City’s Administration, Jaguars, Council Auditor and Consultants will be invited to the Committee of the Whole and afforded time on the agenda,” Hazouri wrote.
If the legislation is filed on that schedule, there will be a public hearing at the Oct. 27 Council meeting and it will be heard by the Committee of the Whole the following week, tentatively scheduled Nov. 5.
“If the Council Members have their questions answered and are prepared to vote on the legislation on November 5th, 2020, the bill will be heard at the City Council meeting on November 10th, 2020. I will, however, also schedule a second Committee of the Whole for Thursday, November 19th, 2020, should additional deliberations be required,” Hazouri said in the memorandum.
The Lot J development comprises offices, apartments, a hotel, retail and entertainment venues. If approved by the Council, site work could start in early 2021 and construction will take 36 months.