Jacksonville committee stalls Gateway land-swap debate; options for purchase or swap move to full council

Jacksonville’s Committee of the Whole paused debate June 2 on a proposed land swap between the city and Gateway Jacksonville that would convey Riverfront Plaza Pad B and an East Landing option to the developer while transferring the city-owned 801 West Bay parcel to the University of Florida. The meeting lost its quorum before members could take formal action; committee staff and the city auditor outlined three ways the matter can proceed to full council for a decision.

The committee’s discussion focused on two competing approaches: a land-swap and redevelopment deal advanced by the Downtown Investment Authority (DIA) and Gateway Jacksonville, and a council-member proposal to purchase 801 West Bay outright for conveyance to UF. Proponents said the swap accelerates downtown activation and keeps future incentives in TIF (tax increment financing) rather than the general fund; critics said the swap had moved forward without the underwriting and pro forma financials needed to evaluate a multimillion-dollar incentive package.

Why it matters: The swap would tie delivery of a hotel, residential development and associated fees intended to maintain Riverfront Plaza to a disposition and redevelopment agreement (RDA) with Gateway. If approved later, the RDA would allow the city to repurchase conveyed parcels under specified conditions, and the developer could seek up to $20 million in incentives funded from TIF. Opponents and two DIA board members who voted against the disposition said they lacked sufficient budget and underwriting details to support the exchange.

Public comment and DIA perspectives were sharply split. Matthew Clark, head of Colliers’ urban division, urged council to "make a bold choice to move…