FACILITIESAPPROVED

City of Jacksonville Neighborhoods, Community Services, Public Health and Safety Committee Meeting Minutes 2026-06-01

City approves parcel option agreement with University of Florida

City reduces maximum indebtedness under existing redevelopment agreement by $5,000,000 via conveyanceCity of JacksonvilleUNIVERSITY OF FLJune 1, 2026

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Description

Jacksonville authorized a Memorandum of Option to convey a 2.04‑acre downtown parcel, including a surface parking lot, to the University of Florida under an existing redevelopment agreement. The transaction will reduce the City’s maximum indebtedness under that agreement by $5 million.

Contract Details

Contract Amount

City reduces maximum indebtedness under existing redevelopment agreement by $5,000,000 via conveyance

Vendor

UNIVERSITY OF FL

Agency

City of Jacksonville, FL

Contract Type

FACILITIES

Document Date

June 1, 2026

Renewal Info

Conveyance and option governed by terms of existing Redevelopment Agreement approved by Ordinance 2025-395-E; no explicit renewal provisions described in minutes.

Related Contracts

City of Jacksonville Neighborhoods, Community Services, Public Health and Safety Committee Agenda 2026-06-01

PENDING

City of Jacksonville (Florida)Reduces City’s maximum indebtedness under related Redevelopment Agreement by $5,000,000June 1, 2026

City of Jacksonville Neighborhoods, Community Services, Public Health and Safety Committee Meeting Minutes 2026-06-01

APPROVED

City of Jacksonville (Florida)Reduces City’s maximum indebtedness under prior redevelopment agreement by $5,000,000 via conveyance of parcel; no direct purchase price stated for option in minutesJune 1, 2026

Issuing Agency