by J. Brooks Terry
Staff Writer
Redevelopment legislation for Laura Place could be put in the City Council hot seat by early January.
One of several projects gunning for a low interest City loan and a hefty grant from the Historic Trust Fund, the development plan for the Marble Bank, Bisbee and Florida Life buildings has already been given the thumbs up by the Downtown Development Authority, the Jacksonville Historic Preservation Society and the Jacksonville Economic Development Commission.
“The important thing to realize is that the City is finally taking a much needed interest in restoring those buildings,” said Michael Munz, a representative for the project. “They really are three of the most historically significant buildings in Jacksonville, and right now they are literally crumbling to the ground.”
According to Munz, the refurbished buildings bordering West Adams and Laura streets would meet historic guidelines, a major factor in securing a grant, including window, door and facade standards representative of the original architecture of Henry J. Klutho.
“We have dealt with all of the historic issues,” he said.
Billed as a mixed-use historic preservation project, retail, residential and parking components have been incorporated into the approximately $35 million design plans.
Developers Signet Developers Ltd. have requested a “gap financing,” low-interest $11 million City loan, and a $3 million grant from the Historic Trust Fund.
“If things go well, we would like to have something introduced by late January or early February,” said Munz. “From there it will just have to go through the usual Council process.”
Council member Suzanne Jenkins said she looks forward to looking at bill and said it would likely have the interest of several other Council members.
“Definitely,” she said. “I think this is when we’re going to start looking at how we should be investing City dollars. We should be making smart investments so we can make a profit if a development does well. If we can do that, I’m all for it.”
Jenkins said the bill may move relatively slowly through the committee process while new Council members become more familiar with its history.
“We have nine new members who may not know all of the back story of what we have looked at in the past regarding historic redevelopments,” she said. “But I’m sure it will take some time for all of us while we look at all the rewards and benefits of assisting with this project.”
Providing the Council green lights the project, Munz declined to put a time table on construction efforts.
“It will be hard to say until we can really get in there to see what we have to do to,” he said. “We’re still in the ‘building rescue phase’ and we wouldn’t want to put a false time table on this. They really are in bad shape, though the Bisbee is in slightly better condition.”
Munz added there would be a push to move as quickly as possible while tenant agreements continue to be sought and finalized.
“Optimistically, we can get moving by March,” he said.