Staff Writer
Defers naming deal, funds
One down, one to go.
The City Council Finance Committee approved an amended bill Monday that would allow the Jaguars to be reimbursed for stadium projects the team undertakes through future Convention Development Tax revenue.
The measure was on the agenda from last Tuesday’s regularly scheduled Finance Committee meeting, but was delayed along with another Jaguars measure because of questions by committee members.
Another bill relating to the naming-rights deal between EverBank and the Jaguars, in which the City would forgo its 25 percent stake in the five-year, $16.6 million deal, was again deferred Monday.
Finance Chair Daniel Davis, saying that the issue wasn’t right for the Monday special meeting, called for a special Finance meeting at 3 p.m. today to address the topic before the full Council meeting at 5 p.m.
“I think there are some details that need to be worked through,” said Davis.
The maintenance bill was amended twice before being approved unanimously 5-0, with Council members Kevin Hyde and Warren Jones having excused absences.
The first amendment was an adjustment to Council member Ronnie Fussell’s amendment from the last meeting. The original called for a 70 percent cap of Convention Development Tax revenues to go toward stadium projects, which would allow other venues such as the Baseball Grounds and Arena to receive a share of funding.
The new amendment would allow stadium projects to receive 80 percent of such funds for the 2010-11 fiscal year. The reason for the higher percentage, it was argued last week, is that the stadium is older than the other venues that benefit from the Convention Development Tax revenues and was catching up on improvements.
The higher percentage would be for just one year.
Bill language calls for the team to receive $2.47 million in future funds for projects currently undertaken that include point-of- service system upgrades, digital menu boards and replay system and electronic message board upgrades.
The second amendment related to the five-year sports complex capital maintenance improvement plan and its initial list of projects, which was submitted for approval in the upcoming City budget. The list of priority projects, submitted by Ron Barton, Jacksonville Economic Development Commission executive director, will need to be approved by the full Council to be incorporated into the upcoming budget discussions.
Council member Michael Corrigan said he felt more comfortable with the amendment and bill because the sports management company – and not the Jaguars – is coming up with the list of projects for the different venues that receive Convention Development Tax revenues.
Emergency maintenance issues that arise outside the five-year improvement plan would still come before Council for funding approval.
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