Proposed Laura St. Trio Deal Includes $24.67M In Forgivable, Deferred Loans
SouthEast Development Group LLC’s plans to renovate the historic Laura Street Trio Downtown could receive $24.67 million in city-backed incentives under a proposed deal with the Downtown Investment Authority.
WJCT News partner the Jacksonville Daily Record reports the pending agreement negotiated by DIA staff includes forgivable and deferred loans for SouthEast’s $70.48 million project.
The project will adapt the vacant historic structures into a Marriott Autograph Hotel with a restaurant, lounge and ground-floor retail, according to documents submitted for the DIA Strategic Implementation Committee’s March 15 meeting.
If approved, the nearly $25 million package would be the largest awarded from the DIA’s Downtown Preservation and Revitalization Program authorized by City Council in October.
Read the rest of this story at JaxDailyRecord.com.