Jacksonville City Council has approved a redrafted $129.75 million incentives deal with Jacksonville Jaguars owner Shad Khan’s development company for its plans to build a Four Seasons hotel and office building on the Downtown Northbank riverfront.

Iguana Investments Florida LLC asked the city to amend the redevelopment agreement first approved in October 2021 to increase the cap on the deal’s property tax refunds as the project’s cost has risen about 20.75%

Council voted 18-0 on for the new agreement attached to Ordinance 2022-0871. Council member Brenda Priestly Jackson was absent for the vote Tuesday.

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