A new financial proposal to resurrect the Laura Street Trio of historic buildings in the heart of Downtown Jacksonville includes $87.23 million in city incentives, according to the most recent draft term sheet delivered by the developer to the Downtown Investment Authority.
The draft from SouthEast Development Group calls for the city to provide $42.48 million in completion grants, $22.03 million in historic preservation grants, a $14.42 million senior construction loan and $8.3 million in economic development loans.
Along with an adaptive reuse of the historic properties, SouthEast plans to add in new construction to create a mixed-use development that would include a hotel, apartments and a restaurant and bar.
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