Jacksonville City Council approves $300 million investment deal, Eastside neighborhood to benefit from Jagauars Stadium agreement

JACKSONVILLE, Fla. — The Jacksonville City Council approved the Community Benefits Agreement on Tuesday night. This will bring a total of $300 million in investments towards the city, as part of the Jaguars Stadium Deal of the Future.

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“This is truly a momentous occasion for the Eastside,” Historic Eastside Community Development Corporation Suzanne Pickett said.

Part of this deal will help this historic neighborhood in Jacksonville that has been neglected for decades. Many Eastsiders are excited as they get one step closer to getting the help they need.

“We’re grateful,” Eastside business owner Dana Miller said. “It’s been a long time coming for parts of Jacksonville that have been left behind and neglected.”

After weeks of debating the CBA passed with 13 yays, 2 nays, and 3 abstains because of conflicts of interest.

The new deal will now provide $40 million towards Out East over the next seven years, which is $10 million more than the original proposal.

“We appreciate them going to back and making sure it’s right,” Eastside business owner A Michele Kimbrough said. “Anything worth having is definitely worth waiting for and we’re so happy tonight for the wait.”

Five meetings, and 14 hours later, the CBA Committee found a compromise.

Before the vote, council member Ron Salem said, “It’s a better bill tonight than we had on June 24th.”

City council member Jimmy Peluso has been advocating for these funds since the conversation surrounding the new Jaguars stadium began.

“Having more money upfront that the Eastsiders get to spend on the Eastside will allow for them to protect themselves from any massive new developments that are coming next door, and there will be,” Peluso said.

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Eastsiders say they are less concerned about gentrification with the money set to come through.

“The Eastside is a very special place. This is a special time in our city, this is a special time in our country,” 4th generation Eastside resident Ariane Randolph said.

Lift Jax is a nonprofit organization that has already been investing in out east. Just last week, they opened the Debs Store.

“And these dollars will help us continue in investing very heavily into our neighborhood,” LIFT JAX COO Travis Williams said.

As for the countywide projects, they are receiving $10 million less than what the deal called for, with $40 million to be spent over 15 years. Each district is also getting one million dollars, making it $54 million total across the entire county. All this money will go towards affordable housing, workforce development, and homelessness

And the rest of the city’s money is going towards parks, which was previously approved to be $56 million.

The city is covering $150 million, and the Jaguars are set to match every dollar once the Jaguars Stadium of the Future is completed.

Next up, the Jags will send the deal to the NFL to get approved.

Then, there will be another CBA committee to decide how to spend the money.

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