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Lot J Development Financial Projections Still Being Calculated

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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.

Mayor Lenny Curry’s administration said Oct. 20 it is waiting on analysis from the Jacksonville Jaguars and the city Finance and Administration Department before it can produce full financial projections for the public investment in the proposed $445 million Lot J development. 

The status of the projections came up at the Council Finance Committee meeting Oct. 20, where City Council Auditor Kim Taylor was asked for an update on the Jaguars’ Lot J project, according to WJCT News partner the Jacksonville Daily Record.

Taylor said Curry’s staff has yet to produce the full financial projections her office needs to vet Ordinance 2020-0648 and provide Council members a review. 

Paul Harden, who represents team owner Shad Khan’s development company Iguana Investments Florida LLC, and another attorney for the Jaguars, attended the meeting, Taylor said.

The legislation would authorize a project development agreement with the city and $208 million in taxpayer-backed debt to pay for the public contribution to the mixed-use Lot J. 

Khan wants to build offices, apartments, a hotel, retail and entertainment venues in parking Lot J west of TIAA Bank Field Downtown.

Read the rest of this story at JaxDailyRecord.com.