If offering the Shipyards property on East Bay Street for redevelopment was a good idea in 2015, expanding the offer to include the city’s riverfront property from the west boundary of the Shipyards all the way to the west property line of WJCT may be an even better idea.
The Downtown Investment Authority board of directors will consider Wednesday a resolution to do just that based on a request from the mayor’s office.
The resolution also would close negotiations authorized in 2015 with Jacksonville Jaguars owner Shad Khan’s Iguana Investments Florida LLC.
Khan’s firm won the right to negotiate redevelopment of the Shipyards property when its plan was selected best of three proposals submitted.
Iguana’s proposal included up to 600 apartments and/or condominiums with a marina, a hotel, commercial office and retail space and community football fields.
The project was an estimated private investment of $428 million to $663 million.
Soon after Iguana was selected for the project, questions were raised about the city’s financial contribution to the plan, such as improvements to East Bay Street to accommodate the development, and the environmental mitigation that might be required before construction could begin.
Authority CEO Aundra Wallace said last week when there was no contract with Iguana eight months after he was authorized to negotiate an agreement, Khan’s focus shifted to the amphitheater and flex field project at EverBank Field, now under construction as Daily’s Place.
The mayor’s office said last week the results from the environmental study conducted more than a year ago have not yet been approved by the state, so no final determination of environmental issues or a plan for mitigation is available.
Assuming the board approves the resolution, a notice of disposition for city-owned riverfront property would be advertised for at least 30 days by the Procurement Department.
Responses will be evaluated by a committee comprising a DIA board member and representatives of the mayor’s office.
The committee will select one proposal, based on the respondent’s vision for future use of the site; conceptual design; financial offer, capacity and strategy; and experience and expertise of the development team.
At that point, the board will consider a resolution to select the winning bidder and again authorize Wallace to negotiate an agreement.
The board will then approve the terms of the agreement before the Office of General Counsel drafts a redevelopment agreement and legislation for the project to be sent to City Council.
Beyond the west edge of the property is the Berkman Plaza II condominium project that was abandoned in December 2007 when the parking garage under construction collapsed, killing one worker.
The property was later purchased at a foreclosure auction by the general contractor on the project.
It is under consideration for rezoning from Planned Unit Development to Commercial General, possibly to make way for its completion as a riverfront hotel.
Beyond the east edge of the property proposed for redevelopment is the building where the WJCT offices and studios are located.
In between is Kids Kampus and Metropolitan Park.
The city and the Public Broadcasting System television station and National Public Radio affiliate entered into a lease agreement for the building site in 2002 that is valid until March 30, 2076.
The lease gives the city exclusive use of Metropolitan Park for special events and grants WJCT the right to charge a fee for parking on the property it leases during events in the park or at the Sports Complex across the street.
Michael Boylan, WJCT President and CEO, said Monday that when Daily’s Place opens, he expects events there will generate more parking revenue for the station than events at Metropolitan Park.
That’s because the city limits ticketed events at Metropolitan Park to no more than 12 each year, but no limitation will be in effect for the amphitheater adjacent to the stadium.
“Our parking is closer to Daily’s Place than Metropolitan Park,” he said.
The authority will consider the resolution at 2 p.m. Wednesday in the eighth-floor conference room at the Ed Ball Building.
(904) 356-2466