Jacksonville Jaguars affiliate agrees to buy Downtown fairgrounds

[thelakelander]

Jacksonville Jaguars owner Shad Khan's development company said April 28 it reached an agreement with the Greater Jacksonville Agricultural Fair Association to buy the fairgrounds property near TIAA Bank Field.

A spokesperson for Iguana Investments Florida LLC said in an email that the company has "entered into an agreement with the Jacksonville Fairgrounds to purchase the fairgrounds and are supporting the fair in its move to a new location that is more aligned with its agricultural roots."

The fair is preparing to relocate to West Jacksonville. After the move, the Jaguars initially will use the Downtown site for parking.

Full article: https://www.jaxdailyrecord.com/article/jacksonville-jaguars-affiliate-agrees-to-buy-downtown-fairgrounds

[vicupstate]

City Council earmarked $15 million to help relocate the fairgrounds out of Downtown when it approved Mayor Lenny Curry's five-year Capital Improvement Plan in September 2021.

Seems like the Fair Association should be paying this or at least some of it.

[jaxjags]

It's not totally clear but looks like city is doing site prep and utilities only. The Fair Association is doing the buildings and music stage and other above ground work with the sale proceeds.

[Charles Hunter]

You must have missed this in the article. (as jaxjags points out)

Fair President and CEO Bill Olson said ...  the fair will use proceeds from the property sale to finance the construction costs and expenses of the relocation.

[vicupstate]

It's not totally clear but looks like city is doing site prep and utilities only. The Fair Association is doing the buildings and music stage and other above ground work with the sale proceeds.

I understood that, but $15 million is a good chunk of money, and I don't know why the city should be total on the hook for that part either.  The city didn't own the land that is being sold.   

[Ken_FSU]

The City's share of the tab is actually $27 million, not $15 million (there's another $12 million earmarked in next year's budget).

[vicupstate]

For $27 million, that better be some outstanding 'site prep'. The land cost at the new site is probably not even included in that.   

[Ken_FSU]

For $27 million, that better be some outstanding 'site prep'. The land cost at the new site is probably not even included in that.

The City is going to maintain ownership of the new site on the West side and lease it back to Fair group.

Wouldn't be surprised if a chunk of that $27 million goes towards prepping the old fairgrounds for surface parking for the Jags.

[BridgeTroll]

Equestrian center?  I really don't think there is enough room for a fair there...

[thelakelander]

The city has been trying to get them to relocate since at least the Peyton administration. $15 million is probably the cherry on top to entice them to go. Otherwise, there's no real reason to move.

[Ken_FSU]

Otherwise, there's no real reason to move.

I'd imagine there might even be a disincentive for them to move with all the parking revenues they collect at the existing site.

[Charles Hunter]

Equestrian center?  I really don't think there is enough room for a fair there...

From this comment in the article about Finger Lake Street, I assume the Fair is going to lease currently unused property just east (or maybe north) of the Equestrian Center. On the map below Finger Lake is the road coming into the Equestrian Center from the northeast.

Fair President and CEO Bill Olson said April 28 the association is negotiating with the city to lease 80 acres to build a new fairgrounds with access to another 60 acres for future expansion.

...

The new fairgrounds will use Finger Lake Street as an access road off of POW-MIA Memorial Parkway and built several entrances and exits on Normandy Boulevard, Olson said. The site is close to Cecil Commerce Center.

Of course, they will have to negotiate the "several entrances and exits on Normandy Boulevard."

[Tacachale]

Devil's always in the details, but on the face of it, IMO this is good news for the site and in the long run will be good for the fair. The current Fairgrounds are 14 acres, which is half the size of the Clay County Fairgrounds (28 acres). The Equestrian Center property is 80 acres and underused. Long term, the current space makes much better sense as something that can be active more regularly. I'll miss the fair being Downtown but if the city strikes a good deal for all parties, this could be well worth it.

[BridgeTroll]

I think the 80 acres is misleading. If that 80 is the cleared area in the satellite pix... there are camping spots horse trails, baseball fields. I would oppose tearing all that out for 1 event a year. I would also oppose clearing the forest for a once a year event. 80 acres is a lot. But what does it mean?

[Charles Hunter]

Good points, BT.
Doing a rough outline with the Google Earth measurement tool, the size of the "cleared area" of the Equestrian Center and adjacent ball fields is very close to 80 acres. I assumed they were talking about a 'new' 80 acres on the east side of the cleared area, wrapping around the ball fields and crossing Finger Lake Street, with frontage along Normandy. Unless they are going into virgin land, I don't see how they can spend that much money for site prep/infrastructure - it should already be there in the existing developed area.