Jaguars stadium renovation deal: Here’s what we know about the cost and what will be built

Action Sports Jax’s Brent Martineau received an advanced preview of the City of Jacksonville and Jaguars’ presentation Tuesday night to the City Council on the EverBank Stadium renovation deal.

Jacksonville Mayor Donna Deegan, Jaguars President Mark Lamping and city negotiator Mike Weinstein allowed Martineau and other local sports journalists to review the details of the presentation, which could then be revealed Tuesday at 5:45 p.m.

Here’s what we learned from Deegan, Lamping and Weinstein:

What is the problem ? The city agreed to set aside $150 million to take care of the building over the next two years when it failed to do so. The renovation itself is 50/50 — $625 million from the Jaguars and $625 million from the city. Including the $150 million for maintenance, that’s a total of $1.4 billion. The breakdown is $775 million for the city of Jacksonville and $625 million for the Jaguars.

Why spend money? Deegan said you can’t spend money on schools like that because it’s another pot of money. Getting a permit and new construction didn’t make sense for Jacksonville. When presenting the deal to the NFL, they plan to emphasize that the state of Florida is not contributing funding and that the city of Jacksonville is working alone.

They want the agreement:

Are the renderings real? : What was shown in the renderings is what will be built. The stadium will have flexible capacity with more than 63,000 seats for Jaguars games and more than 70,000 for the Florida-Georgia game.

The stadium will have rain protection, more air conditioning spaces, restrooms and concessions.

Among the items that will be built are 16 escalators, 12 elevators, doubled concessions, 12 new restrooms and 100% covered seating.

The stadium will be open-air with a 15% temperature reduction.

Where will the Jaguars play during the renovations? It depends on either Orlando or Gainesville for one season, in 2027.

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Estimated economic impact? : $26 billion over a new 30-year lease and an estimated one-time impact of $2.4 billion during construction.

And the overruns? The Jags have assumed this in the past. The potential overrun is significant. Jags will pay for this.

What is the benefit to the community? During construction, emphasis will be placed on workforce development. People will be trained, due to the lack of labor in the region. The plan is to keep operations as local as possible, maximizing local suppliers and labor.

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What are the Jaguars and the city saying? The Jaguars and the city released the following statement as Deegan, Weinstein and Lamping answered questions from the media after the deal was presented:

“Mayor Donna Deegan, Chief Negotiator Mike Weinstein and Jaguars Chairman Mark Lamping jointly presented a historic stadium renovation agreement at the Jacksonville City Council meeting on Tuesday, May 14.

“All parties are pleased to have reached agreement on the framework of a deal that protects taxpayers, benefits the entire community and ensures the Jaguars’ presence in Jacksonville for decades to come.”

“Estimates suggest the economic impact of the renovated stadium on the Jacksonville community over the course of the Jaguars’ 30-year lease will be $26 billion, with an estimated one-time economic impact of $2.4 billion during construction.

“This $1.4 billion deal compares favorably to other NFL markets. It is also the largest public infrastructure investment in Jacksonville’s history and the largest private investment in the history of downtown Jacksonville.

“More details on the agreement and renderings can be found at www.jacksonville.gov/sotf»

See the deal presentation below:

Stage of the future economic framework by ActionNewsJax on Scribd

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