05:20 AM EST Share Efforts by President Tommy Hazouri and others fell short to reduce the taxpayer investment in Shad Khan’s $450 million development.
A City Council Committee of the Whole spent nearly 10 hours Jan. 7 making changes to the bill authorizing a $245.3 million taxpayer-backed incentives package for Jacksonville Jaguars owner Shad Khan’s proposed Lot J development, but the core package remains unchanged.
When the $450 million public-private partnership between the city, Khan’s company Gecko Investments LLC and development partner The Cordish Companies heads to the full Council Jan 12 for a final vote, it will have a city-backed $65.5 million “breadbox” loan and no financial clawback provisions.