Jacksonville, Fla. – March 27, 2024: The Jacksonville City Council has greenlit a $10 million allocation towards the much-anticipated renovation of EverBank Stadium, signaling a significant step forward in the transformation of the iconic venue.

Funding Breakdown

City Council President Ron Salem revealed that out of the total approved sum, $7 million will be designated for the city’s contribution to the formal design phase of the project. This financial injection aligns closely with the investment made by the Jacksonville Jaguars, who have already allocated approximately $7 to $8 million towards the design process.

The remaining $3 million will be utilized for comprehensive cost assessments, crucial in determining the full scope and expenses associated with the renovation endeavor.

Project Scope and Cost Considerations

Initial estimates by the Jaguars projected the renovation costs to exceed $1 billion, with additional expenses anticipated for the integration of the Eastside entertainment district, as depicted in preliminary plans. Ron Salem emphasized the importance of transitioning from conceptual renderings to pragmatic cost evaluations, stating, We need to delve into the practicalities of realizing this vision and determine the actual construction costs.

Negotiation and Financial Strategy

As negotiations between the city and the team progress, Salem emphasized the significance of understanding the project’s magnitude to ensure a mutually beneficial agreement. He underscored the role of City Council in deliberating various financing options presented by Mr. Weinstein, aiming to select an approach that aligns with the city’s interests.

Timeline and Future Steps

Salem remains optimistic about securing council approval for the deal by July 1st or shortly thereafter, underscoring the council’s commitment to advancing the stadium’s renovation agenda.

Advancing Jacksonville’s Sporting Infrastructure

The approval of $10 million in funding marks a pivotal moment in the revitalization of EverBank Stadium, signaling a collaborative effort between the city and the Jaguars to enhance Jacksonville’s sports landscape. As deliberations continue, stakeholders remain focused on realizing a renovation plan that not only revitalizes the stadium but also enriches the local community and economy. Stay tuned for further updates as this transformative project unfolds.

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