A joint City Council committee meeting reviewing the development of Cecil Commerce Center learned Wednesday that its master developer, Hillwood, continues to work toward meeting contracted benchmarks.
Paul Crawford, acting executive director of the Jacksonville Economic Development Commission, presented an update about Hillwood’s progress to develop Alliance Florida at Cecil Commerce Center to a joint meeting of the Finance and Rules committees.
The update was requested by the committees at their previous joint meeting on June 6.
“It seems like it is something that has fallen off the radar, but we need to get it back on the radar,” said Bill Bishop, incoming Council president.
Council approved Hillwood as the master developer of about 4,500 acres at Cecil Commerce Center, now Alliance Florida at Cecil Commerce Center, in June 2010.
The City was notified during the second week of May this year that T. Preston Herold, former vice president of Hillwood Investment Properties and developer of Alliance Florida, had left the company for personal reasons.
He was replaced by Kerry Roetzel while Hillwood looks for a replacement. Roetzel works out of the company’s Dallas office.
“Conversations with Hillwood, Kerry Roetzel, continue to lead staff to believe they will comply with the terms of the agreement by the purchase and development of the parcel or following the conditions outlined in section 11.10 (per the master disposition and development agreement between Hillwood and the City),” stated Crawford in a memo to the Council members.
“They are actively looking for a permanent employee to assign to the project, but continue to dedicate Mr. Roetzel’s time and experience to its efforts,” said Crawford.
The agreement signed by Hillwood and the City set performance benchmarks for Hillwood and met them in the first term year.
The second term year ends Sept. 1. Crawford said Hillwood is working to achieve those benchmarks.
“To date, Hillwood has not yet purchased the cleared site from the City, nor have they begun bringing the cleared site to a ‘pad ready condition.’ Both of these actions require time to complete,” Crawford said.
According to the agreement: “If any performance benchmark is not satisfied within the time periods described above, this agreement shall automatically terminate as to the remainder of the property not purchased by developer.”
Hillwood can ask for a one-year extension of a benchmark before the end of the term year and pay the City $500,000 to avoid termination of the agreement.
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