by J. Brooks Terry
Staff Writer
City officials confirmed this week that River City Brewing Company owners want to purchase the land on which their restaurant is located.
The City might be willing to sell waterfront land, but only at a price higher than what the owners offered.
According to an existing agreement with the City, Jacksonville owns the land and River City Brewing owns the improvements on the approximately 3.5 acre property, which include the restaurant, the landscaping and the marina.
The restaurant’s parent company, Maritime Concepts Inc., made a $400,000 offer earlier this year.
In a letter sent to the Jacksonville Economic Development Commission in January, Maritime Concepts President Eugene Van Note wrote.
“Our purchase price offer will provide the community up front dollars to use in any manner the City desires and will also provide more yearly tax revenue to both the local government and the public school system than our yearly rent payments,” he wrote.
River City pays $30,000 annually.
Van Note added, “We believe that the City of Jacksonville and our company benefits from property being returned to the private sector and back on the tax rolls.”
The offer expired in March and JEDC staffers were only too happy to let that happen.
They said Van Note’s offer was not only far lower than what they would accept, it was “an almost identical offer” made to former Mayor John Delaney’s administration in 1996.
“At that time, the property was valued at $4.9 million or $32 a square foot and we respectfully declined that offer in (1996),” JEDC Director of Business Development Jeanne Miller said in May.
Miller said the City was still interested in continuing in its existing partnership with Maritime Concepts — the ground contract expires after 99 years — and “... would welcome the opportunity to further discuss other purchase options ...”
Maritime Concepts reportedly feels the same way.
Acting on behalf of the company, attorney Mike Weinstein met with City Council member Reggie Fullwood last week.
River City Brewing is located in Fullwood’s district.
“They’re definitely interested in buying that land, but I don’t think Mr. Weinstein was specifically asking me to give my blessing to any deal,” said Fullwood. “At this stage of it, I think he was more interested in letting me know what was going on and giving me the history of it.”
Only generally familiar with Maritime Concepts’ proposal, Fullwood said it “might be time to take the City out of the business of leasing property. I like the concept, putting that valuable property back on the tax rolls. I’m sure its value will continue to rise and we could definitely benefit from that.”
But Fullwood said it would be worth considering Maritime Concepts’ long-term plans for the property before making a deal.
“I know they have been contacted by some developers about re-adapting the land, more mixed uses. They were talking about possible office space and condos,” he said. “Knowing they stand to make a lot of money on that kind of deal, we need to be sure we sell at a fair price.
“I’d also be curious to know if they’re going to come back and ask for incentives to do it.”
Unavailable for comment, Maritime Concepts has yet to return with a follow up offer.