The Downtown Investment Authority voted Wednesday to partially terminate a lease agreement between Barnett Tower LLC and the city to construct a parking garage at the southwest corner of Main and Forsyth streets.
WJCT News partner the Jacksonville Daily Record reports VyStar Credit Union will instead purchase the property for $943,403 to construct the garage.
As part of the terms of the agreement, it will construct at least 550 spaces, and lease up to 250 of those spaces to the city for tenants in the Barnett Building and Laura Street Trio.
Until the Laura Street Trio is complete, VyStar will lease up to 125 spaces to the city.
An expanded version of this story is at JaxDailyRecord.