by Bradley Parsons
Staff Writer
A City deal with local developers to build a pair of sports complex parking garages in time for the Super Bowl is months behind schedule.
When the City Council approved the $50 million deal to build garages at the Sports Complex, arena and new Duval County Courthouse, development team Metropolitan Parking Solutions projected 1,500 spaces would be built in time for the Feb. 6 Super Bowl. However, with eight months remaining before kickoff, MPS has yet to buy the land or provide necessary documents to borrow the money. The current performance schedule included in the contract projects a nine-month construction window.
The City has lagged on its end of the construction schedule too. The City was supposed to sell the land for the Sports Complex garages to MPS for $2 million by April 1. The Jacksonville Economic Development Commission was to authorize a $50 million bond issuance by Feb. 13. However, JEDC spokesperson Jean Moyer said the City could not move forward without required financial reports from MPS.
The agreement allows either party to terminate the deal for missed deadlines. Moyer said that wasn’t a consideration.
“There hasn’t been any thought on our end toward terminating anything,” said Moyer. “As far as we know, everything is on line and heading toward completion.”
MPS spokesperson Michael Munz couldn’t be reached for comment for this story, but he said previously that construction would be delayed until after the Super Bowl if it appeared it couldn’t be finished for the game.
The deal calls for the City to issue $50 million in tax–exempt bonds on behalf of MPS to pay for construction on the three garages. The developer would pay the money back as revenue allows. The City would guarantee MPS an 8 percent return on the developer’s $3 million investment.
If construction is delayed, City Council member Warren Alvarez said Mayor John Peyton should take the time to reconsider the deal. Alvarez said he made a mistake when he voted to approve the deal, which he said would haunt City taxpayers for 30 years.
“He (Peyton) ought to take a hard look at this and buy them out now,” said Alvarez.
A Council resolution asking Peyton to reconsider should be on its way to a full Council hearing after passing the Recreation, Community Development and Education Committee Wednesday.
Alvarez said he never thought the Sports Complex garages would be ready in time for the Super Bowl. He said their availability for the game wasn’t a factor in his original vote. The deal passed the Council 15-2.
The mayor’s office is still expecting the garages done by the Super Bowl deadline, said spokesperson Heather Murphy. If that proves impossible, she said the mayor would stick to the agreement with MPS.
“Our position on this is that the contracts are signed,” said Murphy. “We haven’t considered those (termination) options as of yet.”