Mayor, Jaguars president, city negotiator present stadium deal to Jacksonville City Council

6:26 p.m.: “The stadium will go into the CIP (capital investment plan) for over four years. As we share half with the Jaguars, at the end of each year, we’ll borrow for what was spent,” Weinstein said.

6:24 p.m.: Lamping said the team has a call with the NFL on Thursday and has been sending details to the league as they’ve been negotiating. “Generally what the league wants to make sure is there’s no local contingencies out there,” Lamping said.

6:22 p.m.: “As of right now, we don’t have to worry about it, we don’t have a deal,” Lamping said of the location where the team will play in the 2027 season. He said it would likely be Orlando or Gainesville.

6:20 p.m.: Lamping said, “People shouldn’t walk away believing that the NFL is covering a portion of this. ... That debt shows up on our balance sheet. It’s maybe cheaper than debt you could get at a bank.”

6:12 p.m.: The Jaguars and the City of Jacksonville released the following statement as Deegan, Weinstein, and Lamping answered media questions:

“Mayor Donna Deegan, lead negotiator Mike Weinstein, and Jaguars President Mark Lamping jointly presented a landmark stadium renovation agreement at the Jacksonville City Council meeting on Tuesday, May 14.

“All parties are pleased to have reached agreement on the framework of a deal that protects the taxpayers, benefits the entire community, and secures the Jaguars’ presence in Jacksonville for decades to come.

“Estimates suggest the economic impact of the renovated stadium to the Jacksonville community throughout the Jaguars’ 30-year lease will total $26 billion, with an estimated $2.4 billion in one-time economic impact during construction.

“This $1.4 billion deal compares favorably to other NFL markets. It is also the largest public infrastructure investment in Jacksonville history, and the largest private investment in the history of downtown Jacksonville.

“More details on the agreement and renderings can be found at www.jacksonville.gov/sotf”

6:10 p.m.: “There’s no money coming out of a pension program,” to fund the renovations, Weinstein said, answering Action News Jax’s Ben Becker’s questions about if the city’s police and fire pension fund will be affected.

6:04 p.m.: “I understand why people want to make some of the comments they make,” Deegan said, talking about owners of NFL teams typically being rich individuals. But she also alluded to the investment that Khan has made in the Shipyards. “Already, the Four Seasons is the largest private investment in the history of downtown,” she said.

6:03 p.m.: “The stadium doesn’t exist in a vacuum. ... I’m excited to be able to create the workforce we need, to create affordable housing,” Deegan said.

6:02 p.m.: “This team loves the city. They have gone around the bend to get to a deal that was better for our taxpayers,” Deegan said.

5:59 p.m.: Deegan began taking questions about the deal presentation from the media. She was asked why it means so much to her.

“I was sitting on the anchor desk at First Coast News on Nov. 30, 1993, when we found out that Jacksonville did the impossible,” Deegan said, remembering when Jacksonville was awarded an NFL franchise.

5:45 p.m.: In her remarks closing the presentation, Deegan said, “I don’t believe this is a time for half-measures on our part.”

5:42 p.m.: Weinstein said though there would not be an entertainment zone as part of this deal, he said the Jaguars would build $100 million development next to the Four Seasons, which would be finished no later than four years after the stadium is finished.

5:40 p.m.: Weinstein said $300 million ($150 million from the city and $150 million from the Jaguars) will help to “Finally finish the funding” so Riverfront Plaza and other parks can be opened up.

5:39 p.m.: Lamping said with the stadium deal and the Shipyards, Jaguars owner “Shad (Khan) will be investing in excess of $1 billion downtown.”

INVESTIGATES: Stadium deal good for taxpayers or ‘handout’ to Jaguars’ billionaire owner Shad Khan?

5:37 p.m.: Construction workforce development programs: Lamping said the team introduced a program with the construction of the Miller Electric Center called Construction Ready, to help train locals in the construction field. Graduated 87 construction students.

5:35 p.m.: Both Lamping and Weinstein have been in “constant contact” with the Universities of Florida and Georgia throughout the process of negotiating the deal, Weinstein said. He said both schools are very excited about the planned renovations.

5:33 p.m.: Weinstein said, “We (the city and the Jaguars) jointly decide on the budgets for maintenance ... but they (the Jaguars) maintain the building.” Budgets for maintenance, facilities, and capital “are approved by both of us,” he said.

RELATED: Sources revealing to Action News Jax’s Ben Becker details of Jacksonville’s $1.25B stadium deal

5:32 p.m.: Lamping said not doing the entertainment district now eliminated the No. 1 concern from Jaguars supporters heard at the last round of community huddles, which was, “What’s going to happen from my parking?”

5:31 p.m.: Jaguars’ offices are currently in the stadium. In the future, they will move offices to the Miller Electric Center or another office building the team is building, Weinstein said.

5:28 p.m.: “We (City of Jacksonville) have a substantial non-relocation agreement,” with the Jaguars, as part of the new 30 year lease agreement, Weinstein said.

RELATED: Jacksonville Council to extend attorney’s contract until September 2025 to help usher stadium deal

5:27 p.m.: “The $600 million that won’t be borrowed saves the citizens of Jacksonville $1.5 billion in debt services over the next 30 years,” Weinstein said.

5:24 p.m.: Lamping said for the new stadium lease, we wanted to come up with a user model, people that purchase tickets, that money will stay in the building. Have agreed to partner 100% with the City of Jacksonville. We think that will cover 28% of annual expenses, Lamping said.

5:19 p.m.: City Council members are already reacting to the plan. City Councilman Rory Diamond tweeted the following about a $150 million piece of the deal:

5:17 p.m.: What’s best is to do the stadium first and then the entertainment zone next, Weinstein said. “We have three more seasons to play, things to do to prepare it for renovation,” he said. Things that the city would do could bring total cost down to $1.25 billion.

5:15 p.m.: Stadium is a perfect example of deferred maintenance, Weinstein said. $1.4 billion is less than our peers are doing around the country, he said.

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5:14 p.m.: Fixed roof will lower the temperature inside of EverBank Stadium by 15 degrees, Lamping said.

5:10 p.m.: “We spent a lot of time in 2016 trying to get ahead of this issue,” Lamping said, as the team wanted to get a plan ahead of the lease expiration after the 2029 season.

5:09 p.m.: “We have people on our staff who are all Duval. They’ve lived here their entire lives,” Lamping said.

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5:07 p.m.: Deegan introduces Lamping and Weinstein to take the podium. “The world sees our potential,” Lamping says of Jacksonville.

5:06 p.m.: Deegan takes the podium, saying the Jaguars have agreed to invest $100 million in commercial development.

“When all is said and done, this investment will far surpass that.”

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