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Council committee postpones Interline property purchase/swap; appraisal variance prompts more review
Summary
Committee members postponed a decision on whether the city should buy the Interline building or pursue a land swap tied to a University of Florida expansion, citing sharply different appraisals; the committee raised a purchase ceiling to $8 million and asked for a third appraisal review on March 31.
The Neighborhoods Committee on March 17 postponed consideration of legislation that would authorize city action to acquire the property known as the Interline building that is tied to a proposed land swap with a private developer and University of Florida (agenda item 2025‑135). Committee members recorded an amendment raising the purchase ceiling from $4 million to $8 million, then voted to postpone the item until the March 31 committee meeting so a third appraisal could be reviewed.
Why it matters: The city and Downtown Investment Authority have been negotiating options to secure property that University of Florida said it needs for an expansion site. An appraisal the administration obtained valued the Interline building and immediate parcel at roughly $5.3–$5.6 million, while a valuation submitted by the property owner put the value much higher, near $8–9 million when accounting for development potential. The divergence prompted a third independent appraisal.
What happened in committee Councilmember Salem offered and the committee adopted an amendment increasing the legislative ceiling to "not to exceed $8,000,000" for the purchase option, a change intended to avoid a second vote if the appraisal supports a higher price. After the amendment carried, Councilmember Clark Murray moved and the committee approved postponement of final action to the March 31 committee meeting to allow members to review the third appraisal and for parties to answer outstanding questions.
Key concerns and positions Opponents and some members cautioned against rushing a city purchase or using reserves for property acquisition. Administration representatives said their preference was a land swap that required no additional cash outlay; Mayor's staff and DIA said they want the swap and purchase options considered together where possible. Council members from districts with experience in capital budgeting and reserves asked for clearer commitments on funding replacement (the sponsor included aspirational language proposing the amount be repaid by a future JEA contribution). DIA and the developer said they would be prepared to discuss the appraisal once the third appraisal is complete and asked the committee to minimize delay.
Action taken - Amendment: increase purchase ceiling to not exceed $8,000,000 (carried). - Postponement: committee voted to postpone the measure to March 31 to review the third appraisal and additional information (carried).
What comes next The committee will review the third appraisal and related documents at the March 31 meeting. Committee members said they expect detailed appraisal materials and a clearer explanation of swap terms, timing and how CIP or reserve funds (if used) would be handled.
Ending Because the appraisal gap was large and the stakes involve downtown riverfront property and a university expansion, the committee opted to defer to ensure full information is available before making a final commitment.
