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Related Group riverfront project: permits and escrow timeline explained; councilors question debt-funded incentive
Summary
Developer Related submitted civil permits and 70% construction drawings; the development agreement requires the city to escrow completion funds when permits are filed or on Oct. 1, and several council members objected to financing the incentive with debt.
A Related Group development on the former River City Brewing Company site is on track for its civil permits and construction timeline, a representative for the developer told the Jacksonville City Council Finance Committee on Aug. 5.
Steve Diebenow, representing the Related Group, said civil permit applications were submitted June 13 and the developer expects to receive final city comments, respond within 30 days, and have civil permits finalized in roughly 30 days from the Aug. 5 meeting. "We're on track to have the civil permits in final form in the next 30 days or so," Diebenow said. He said 70% construction drawings were received July 18, two contractors already are pricing the work, and 90% drawings are expected Sept. 1. Diebenow said the project is scheduled to start…
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