Description
Title: ORD Approp $693,035.89 from the General Fund Operating Budget Stabilization Contingency Account to the Downtown Economic Dev Fund Shipyards/Iguana Completion Grant 2022-871 - Misc Grants & Aids Acct, to Prov Funding for the Remaining Bal Needed to Fully Fund the Completion Grant Previously Authorized by Ord 2022-871-E, as Amended by Ord 2025-815-E, for Dev of a Luxury Hotel & Office Bldg Improvements on the Northbank Riverwalk in Downtown (Staffopoulos) (Introduced by CM Salem) (Co-Sponsor CM Lahnen) 2/10/26 CO Introduced: NCSPHS, F 2/17/26 NCSPHS Read 2nd & Rerefer 2/18/26 F Read 2nd & Rer
Summary
Ordinance 2026-92, introduced by Council Member Salem, appropriates $693,035.89 from the General Fund Operating Budget Stabilization Contingency account to the Downtown Economic Development Fund, specifically for the Shipyards/Iguana Completion Grant 2022-871. This funding is intended to cover the remaining balance necessary to complete a previously authorized $25,834,887 grant aimed at developing a luxury Four Seasons hotel and office building on the Northbank Riverwalk in Downtown Jacksonville. The project will include approximately 176 hotel rooms and 25 condominium units, among other enhancements. This legislation is significant as it supports ongoing efforts to revitalize downtown, contributing to economic development and urban growth within the city.