The Jacksonville Downtown Investment Authority board is leaving the decision whether to provide at least $63.56 million in incentives for a private developer’s proposed Laura Street Trio renovation to City Council.
The DIA board voted 5-1 on June 21 on a resolution that sends a term sheet for $36.55 million in city-backed historic forgivable loans and property tax breaks to Council without a recommendation for or against the deal.
SouthEast Development Group proposes a $175.1 million multifamily, hotel and restaurant development plan for the Trio property on Downtown’s Northbank.
Read the rest of this story at the Jacksonville Daily Record, a WJCT News partner.