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Incomplete Parking Deal Holds Up Lot J Legislation

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Jacksonville Jaguars
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Via Jacksonville Daily Record
This rendering illustrates a portion of the proposed Lot J development.

A missing parking agreement caused City Council President Tommy Hazouri to pause introduction of legislation authorizing taxpayer funding for the Jacksonville Jaguars’ $445 million Lot J development.

WJCT News partner the Jacksonville Daily Record reports City Council was scheduled to take the procedural action Oct. 13 to introduce Ordinance 2020-648 that would allow Mayor Lenny Curry’s administration to borrow $208.3 million in fixed-rate debt and the city’s commercial paper program — a short-term liquidity loan option — to finance the city’s share of the Lot J project. 

Curry’s staff included an economic development agreement with the bill but has not reached final terms for a parking agreement between the city and the Jaguars’ development team.

Deputy General Counsel Margaret Sidman told Council members that excluding the parking agreement could violate Council rules that state a bill must be filed with all supporting documentation.

Hazouri considered waiving the rule to keep the bill moving forward but said holding the bill was out of respect for Council rules.

Read the rest of this story at JaxDailyRecord.com.