JACKSONVILLE, Fla. \u2014 City Council members met with Gateway Jax to discuss the developer\u2019s request for a $49.65 million incentive package for its N7 block, which includes a proposed downtown Publix.<\/p>\n
Councilman Matt Carlucci held the public meeting with other city leaders and the developer to discuss why the project needs the incentives. Of the requested funding, $28.25 million would come from a completion grant drawn from the city\u2019s general fund.<\/p>\n
\u201cI\u2019m here to say this will be the last completion grant that we will be asking for from the general fund of the city,\u201d Gateway Jax CEO Bryan Moll said.<\/p>\n
Moll said he believes the grant would help unlock future involvement from Gateway Jax and other developers.<\/p>\n
Carlucci supports awarding the incentive package, saying downtown developers face different obstacles than those building in the suburbs.<\/p>\n
Earlier this month, City Council delayed a vote on the incentives because of uncertainty surrounding Amendment 3. If voters approve the homeowner property tax cuts next month, the change would have a major impact on Jacksonville\u2019s budget.<\/p>\n
Moll said the Publix project would be especially needed if the amendment passes, pointing to commercial rather than residential property taxes.<\/p>\n
\u201cIt is a commercial property tax, not residential. So I know there\u2019s been some comments from council members about let\u2019s wait and see what happens,\u201d Moll said.<\/p>\n
\u201cWith Amendment 3, we think it\u2019s even more important if Amendment 3 passes,\u201d Moll said.<\/p>\n
The incentive package will return to the Finance Committee on Nov. 4, the day after the election.<\/p>\n
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