It seems that the new Jacksonville Jaguars performance facility will be partially funded by the city, as Mayor Lenny Curry has filed a bill that would split the cost of the projected $120 million facility with the City of Jacksonville. According to the Jacksonville Daily Record’s Mike Mendenhall, the city’s contribution will cap at $60 million with the Jaguars being responsible for any cost overruns.
The bill, which requires approval from the City Council and is expected to be introduced on Tuesday, would commit $36 million in spending for the 2021-22 fiscal year with the final $24 million to be spent the following year.
Jags owner Shad Khan first introduced his plan for the facility, as well as a Four Seasons hotel and a renovated children’s park, on June 3. The football facility will include an equipment room, weight training, and medical facilities, two outdoor grass fields with around 2,300 bleacher seats, a team store, and concessions facilities.
A prospective second phase of the project would reportedly also bring an orthopedic sports medicine practice affiliated with Baptist Health. In total, Khan’s downtown development plans are projected to cost $441 million.
If the bill passes, the Jaguars would commit to an initial 30-year lease for the performance facility property with two 10-year extension options. The team is also required to pay for maintenance and repairs.
After the failure of the “Lot J” development at the Council level, this agreement is expected to pass. However, it still requires a vote, and according to Mendenhall, that may not happen until possibly early September. Still, it seems that Khan finally has the deal with the city for development that he’s been after for years.