JACKSONVILLE, Fla. – The Downtown Investment Authority staff again recommended that the city end negotiations with the developer of the Laura Street Trio on the latest round of requests for public incentives to resurrect the historic buildings, according to News4JAX’s news partner the Jacksonville Daily Record.
A staff report scheduled to be discussed at a Friday board meeting states that “staff cannot recommend continuing negotiations for approval of City funding in the Laura Street Trio redevelopment provided” by SouthEast Development Group LLC.
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Steve Atkins, principal of SouthEast and owner of the buildings since 2013, said he was caught off-guard by the report.
(To read the latest, go to JaxDailyRecord.com)
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Sources told News4JAX in May that the developer and the city were close to an agreement, but no one is talking on the record.
News4JAX has heard from several sources that there could be loans and incentives for the project that could total close to $67 million from the city, but nothing has been decided.
Councilman Matt Carlucci has been pushing for the trio redevelopment from the start.
“As a friend of mine said, this is kind of like Moby Dick, you know, and but I think maybe we got the harpoon in this time, and we’re going to reel it in,” Carlucci said.
