2019 STATE OF THE FRANCHISE AVAILABILITY
Thursday, April 18, 2019
(On looking into retrofitting TIAA Bank Field with a sunroof) “We have looked at a number of concepts. I think some of the concepts have been there. I think we have about 10 or 11 years left on our lease here, and I think as part of the lease extension we are going to determine what the stadium solution would be. Certainly, I don’t think there is any reason why this stadium couldn’t be a candidate for a major renovation, and we really haven’t gotten into the details, but we do recognize that it is an issue for many of our fans.”
(On if the roof can wait ten years as part of the lease renegotiations) “If you are going to do something to that magnitude, you should be talking about it at least five years before you want it to be done. I would think it is not inconceivable that we will start discussions with the city, perhaps even during Mayor [Lenny] Curry’s tenure, sometime over the next four years.”
(On if the team wants to stay at this location and see a substantial renovation or see a rebuild) “I think major community gathering places belong in what is the heart of the community. We think downtown is that. We hope that the population shift doesn’t become that drastic that even more and more, not only the residents, but business perhaps, would migrate out of downtown. Symbolically, keeping the stadium downtown, even if it isn’t the exact center of the community in terms of a spread of population, I think psychologically it is really important, and I think we would want to be downtown.”
(On how much he envisions the City and taxpayer’s obligation toward the team’s future projects) “Only enough to make the project work. I can’t give you a specific number, but I think all of these things – it is understandable that, at the risk of maybe sounding a little short, it is naive to believe that just through the benevolence of some person that all the city’s problems are going to be taken care of. If that is the case we wouldn’t have any problems downtown, would we? You want investment in downtown. The way to get investment is make sure that the person who is making that investment and taking that risk receives a reasonable return on their investment. That is what I said. It is needs to be a private/public partnership only to the extent that the risk isn’t so high that the investment won’t come and if it is successful that the returns to the investor aren’t exorbitant.”
(On what steps come next in relation to Lot J besides the Hart Bridge ramp removal) “What has to come next is an agreement on the city of the financing of our commitment to guarantee completion of a $500 million development.”
(On if Lot J has received any commitments from tenants) “Let’s think about it. The ‘Live’ district is one tenant, that’s the operator. While we are not in a position to make any announcements, we do have a hotel operator that is prepared to go into that space. We are building a residential tower that we haven’t started marketing that yet, so the only relevant question as it relates to tenants would be an office building. Do we have commitments right now, no, but we have a lot of people that are interested in seeing the vision of a new office building come to fruition in downtown.”
(On what has to happen for the organization to start on the Lot J development) “In order for us to get started, and we are prepared to get going, the Jaguars and the Cordish Company, are prepared to go forward as soon as we get an agreement first with the mayor’s office and then through to the City Council. We have not been at this point yet, but we are here now, and I am confident given the mayor’s agenda and belief in having downtown grow and have it be significantly more desirable for people to work, to live and for people to visit. As long as we focus on those shared goals then I have no doubt that we will reach an agreement. Then it will be up to the City Council to hopefully ratify that.”
(On if JEA’s decision to not build their headquarters in Lot J a setback in the team’s plans) “It would have been easier if they would have come here. There’re no guarantees in life, in spite of what some people thought going into this that there was a guarantee that [JEA] was coming to Lot J. It was a good process. Do I personally agree? What I personally believe is it is not like Jacksonville’s downtown has so much going for it that we can afford to lose the opportunity to bring a catalyst, something that will deliver other developments. The thought that governmental entities – like JEA, it is an extension of the city, nothing more than that – that somehow they can’t be part of major redevelopment initiatives – people that believe that, it’s just not true. Just look at Tampa where there has been so much excitement about what is happening in the river area in Tampa. That is being generated very early on, not just by Jeff Vinik and the Lightning and their new arena and all the exciting stuff they are doing, but also the fact that the University of South Florida Medical School is there, along with their medical center. That is a governmental agency that played a very important part, and I think they did it right in Tampa. Is JEA’s decision somehow going to have a significant impact on downtown Jacksonville’s development potential? Absolutely not. No. The development business is not 100 percent business. Hopefully you can make your best case, but if someone decides to go someplace else then that is their decision and not ours. I wish them the best of luck. We want JEA to be successful. They are moving a few blocks from where they are right now, and they will move into a better building and I hope it is a great experience for their employees. I am sure it will be. Will it inspire a lot of development downtown? Wait to see. I don’t think so.”
