$98.58 million incentives deal for Gateway Jax to be introduced at City Council

[thelakelander]

A $98.58 million package of incentives for four blocks of the proposed Gateway Jax development in Downtown Jacksonville is in the Jacksonville City Council's hands, seven months after being approved by the Downtown Investment Authority board. 

Ordinance 2024-0495, which contains the incentives, will be introduced at the June 25 Council meeting.

If passed, it would provide $59.63 million in Recapture Enhanced Value Grants and $38.95 million in completion grants that were recommended for approval by the DIA board in mid-November 2023.

https://www.jaxdailyrecord.com/news/2024/jun/24/9858-million-incentives-deal-for-gateway-jax-to-be-introduced-at-city-council/

[heights unknown]

It seems that Gateway Jax is serious about getting this development (and proposal(s)) underway; however, I don't know whether those grants must be given out in the initial phase to help with construction etc. (Gateway said they really didn't need much from the City), but I wouldn't give anyone anything anymore until I see that shovels are in the ground, dirt is being dug up and turned out, and cranes are in the air. Sick and tired of these developers and others, as the old 70's song said, "going on and taking the money and then running" (go on, take the money and run).

[jcjohnpaint]

Wasn't the incentives program supposed to go through council yesterday?

[Jankelope]

It's extremely refreshing to see a developer who wants to get going and build. This is by far the most optimistic I have ever been about our downtown.

[fsu813]

Wasn't the incentives program supposed to go through council yesterday?

Just introduced.

And this is money well spent.

[heights unknown]

Wasn't the incentives program supposed to go through council yesterday?

Just introduced.

And this is money well spent.

So what happened? What was the results? So I guess this is a home run? A touch down for Gateway and the City of Jax?

[Tacachale]

Wasn't the incentives program supposed to go through council yesterday?

Just introduced.

And this is money well spent.

So what happened? What was the results? So I guess this is a home run? A touch down for Gateway and the City of Jax?

The bill was just introduced to City Council. It'll go through the committee process, possible amendments, public hearing and if it progresses, it goes up for a final vote in August. A regular cycle is 6 working weeks, but this will be longer as there are several weeks off this summer.