The Jacksonville Jaguars have proposed the team and city share the cost of renovating EverBank Stadium. | Jacksonville Jaguars
Published on May 8, 2024 at 12:18 pm
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A deal between the city and the Jacksonville Jaguars to build the “Stadium of the Future” Downtown is set to be released Tuesday for the City Council to review.
Speaking at a joint School Board/City Council meeting Wednesday morning, council President Ron Salem said he had learned of the long-awaited agreement during a call from the mayor the night before.
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The Jaguars have proposed a roughly $1.4 billion renovation of EverBank Stadium, with the city sharing the costs. No details about the financing arrangement have been revealed.
Late Wednesday morning, Mayor Donna Deegan released a brief statement about the stadium deal, stating the two sides had reached an agreement “on the framework of a deal.”
“The negotiating team is currently putting the final details on paper, and we will release that information as soon as it is available,” the mayor’s statement said.
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Just before Salem’s announcement, former City Hall Chief of Staff Chris Hand was discussing the stadium renovation on WJCT News’ First Coast Connect program. He said the agreement was imminent.
As the agreement works its way through City Council, Hand said he hopes that a number of public meetings will be held in council districts to discuss its details.
“But at the end of the day, I think taxpayers are primarily interested in a variety of questions, one being what the cost is going to be and what are the benefits of that investment,” Hand said. “What are the potential opportunity costs (the trade-offs of those investments); how might this affect the city’s ability to fund other operational and capital priorities going forward?”
Deegan, lead negotiator Mike Weinstein and Jaguars President Mark Lamping will present the stadium renovation agreement at the beginning of the City Council meeting, which is set for 5 p.m. Tuesday.
City Council must approve the deal, which Hand said could take about two months. NFL owners also must agree to the plan.
