By Mike Sharkey
Staff Writer
LandMar, the company developing the Shipyards project that stretches from Berkman Plaza to Kids Kampus, didn’t pay property taxes in 2008 and is, therefore, technically in default.
In a letter to Jacksonville Economic Development Commission Executive Director Ron Barton, John Yelverton, president of LandMar Group LLC out of Delaware, said “This letter is to provide the City written notice that LandMar Group, LLC has paid $0.00 in municipal and county ad valorem taxes for 2008 with respect to the Project and the Project Parcel.
“Although we are dealing with the effects of today’s economic circumstances, we will continue to cooperate with the City in working toward a resolution of this matter.”
According to Barton, there are issues beyond just a failure to pay property taxes last year.
In a letter to Jacksonville’s City Council., he wrote, “I … notified the company that the city has become aware that a lien has been placed on the property by a construction company related to its work on the bulkhead improvements. The placement of this lien is considered a default in terms of the city’s contract. LandMar has acknowledged this lien and is working on a resolution.”
According to figures provided by the Property Appraiser’s office, the Shipyards is being developed under the name Northbank Development. In 2008, the property under question was assessed at $11.3 million and the taxes owed were $193,092.33.
The Shipyards — once hailed by former Mayor John Delaney as the crown jewel in what he called ‚”The Billion Dollar Mile,” has come under scrutiny for several years. The original developer, TriLegacy, proposed a mixed-used renovation that included high-rise condominiums, a hotel, restaurants and public space. That venture failed and was investigated by a Grand Jury, which eventually found no wrong doing on the part of TriLegacy.
LandMar then stepped in and took over the project on a scaled-back basis. According to Barton, LandMar has completed $19.5 million worth of public improvements that were focused on the bulkhead and core infrastructure to the Riverwalk. He also said LandMar has made $12 worth of payments on the debt service on the original bonds. In his letter to Council, Barton said he is meeting weekly with LandMar officials, City attorneys and representatives of the Council Auditors Office.
He also said the City is contractually protected.