AMENDMENT

Finance Committee · 2026-06-16 · agenda_item

The City of Jacksonville Finance Committee is reviewing an amendment to a redevelopment agreement concerning the parking garage at 800 Magnolia Street. This amendment proposes changes to the restrictive covenants for the garage, which is currently used for general public parking. The changes would shift the use to JSO Parking Rights, remove the obligation for Blue Cross Blue Shield (BCBS) to refund a $3.5 million grant due to a change in use, and tie the termination of restrictive covenants to the JSO lease. The minimum number of parking spaces would also be reduced from 750 to 742. This item is currently pending review by the Finance Committee. The proposed changes would impact the management and use of the parking garage, potentially involving legal services for agreement amendments, and services related to parking management and facility use. Contractors and service providers interested in future work related to parking facilities or agreement management should monitor this review process as it moves forward.

Parking Garage Grant

3.5 million

Restrictive Covenants termination cost

6.67 million

minimum number of parking spaces

750

minimum number of parking spaces

742