JACKSONVILLE, Fla. – A $48 million incentive package for Gateway Jax’s Publix-anchored Block N7 project is headed back to the drawing board, according to a report from News4JAX news partner the Jacksonville Daily Record.
JDR reports that the chair of the Jacksonville City Council Finance Committee expressed resistance to a completion grant that makes up most of the proposed funding.
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Council Ordinance 2026-0541, which contains the incentives for the $138.6 million project at 119 W. Beaver St., was deferred in the Aug. 4 Finance Committee meeting.
Finance Committee Chair Will Lahnen told JDR that the deferral, which was requested by the Downtown Investment Authority, will allow for a restructuring of the incentives, which comprise a $19.6 million Recapture Enhanced Value Grant and a $28.5 million completion grant.
Lahnen said he hoped the DIA and Gateway Jax would “find a way to where we can avoid a big cash completion grant.”
Noting that the city has approved nearly $40 million in completion grants for four other Gateway Jax projects, Lahnen said he also was open to possibly restructuring the timing of payouts for those projects to free up funding now for Block N7.
Read the full story at JaxDailyRecord.com.