DIA board ‘bunts’ $63.56 million Laura Street Trio incentives decision to City Council

The city agency will send a term sheet and financial analysis of the proposed historic Downtown building renovation without a recommendation to support or deny the developer’s request.

  • By Mike Mendenhall
  • | 8:17 p.m. June 21, 2023
  • | 0 Free Articles Remaining!
Laura Street Trio owner Steve Atkins is proposing to redevelop the historic Downtown buildings into mixed-income housing, a restaurant and a Marriott Autograph Hotel.
Laura Street Trio owner Steve Atkins is proposing to redevelop the historic Downtown buildings into mixed-income housing, a restaurant and a Marriott Autograph Hotel.
Special to the Daily Record
  • Government
  • Share

The Jacksonville Downtown Investment Authority board is leaving the decision whether to provide at least $63.56 million in incentives for a private developer’s proposed Laura Street Trio renovation to City Council.

The DIA board voted 5-1 on June 21 on a resolution that sends a term sheet for $36.55 million in city-backed historic forgivable loans and property tax breaks to Council without a recommendation for or against the deal.

SouthEast Development Group proposes a $175.1 million multifamily, hotel and restaurant development plan for the Trio property on Downtown’s Northbank. 

Continue reading your article
with a JAX Daily Record subscription.
What's included:
  • ✓ Unlimited digital access to JaxDailyRecord.com
  • ✓ E-Newspaper app, digital replica of print edition
  • ✓ Mailed printed newspaper every Thursday
Subscribe

Already subscribed? Sign in.

 

Sponsored Content

×

Special Offer: $5 for 2 Months!

Your free article limit has been reached this month.
Subscribe now for unlimited digital access to our award-winning business news.