In June 2023, Jacksonville Jaguars released a visualization of "Stadium of the Future." However, the city is currently focusing on a slightly smaller renovation of TIAA Bank Field. At what stage are the discussions, and when can we expect the work to begin?

How much will it cost?

Recently, there have been reports that Jacksonville is considering spending $10 million on renovation work at TIAA Bank Field. If the City Council approves the funds, the engineering firm Gilbane will determine the current structural integrity of the stadium and verify the costs associated with the design plan proposed by the Jaguars.

The bill will require a two-thirds majority vote of the City Council. The city has not publicly disclosed what percentage it may contribute to the stadium's modernization. The team has already spent $8 million on a project that includes a permanent roof, additional elevators and escalators, and a mirrored facade of the facility. If you also need to finance your expenses, we recommend checking out the offers of top aussie online casinos. However, both the current $10 million at the council's disposal and the $8 million from the Jaguars will cover their individual shares of the final costs.

This amount will come from an already approved $20 million item in the latest Capital Improvement Plan specifically allocated for the stadium, said Phil Perry, spokesperson for Mayor Donny Deegan's office.

The city still hopes that the framework of the agreement will be established in April or May of this year before holding community meetings to gather feedback. According to this schedule, the agreement will likely be presented to the council in the summer.

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What about "Stadium of the Future"?

Negotiations with city authorities regarding funding for 50% of the construction costs have been ongoing for several months. The estimated construction costs for the stadium itself will be a maximum of $1.4 billion, while the surrounding food and entertainment areas will raise the costs by $668 million, to a total of just over $2 billion. We're already discussing revenue sources and how it will look. So I feel like we're keeping pace. I've said this before. I think our goal is to reach a framework agreement by spring, said Donna Deegan, Mayor of Jacksonville, in a January interview with news4jax.

The source of funding raises concerns among residents

Vice President of the City Council Randy White revealed in an interview with jaxtoday.org that he had received numerous calls from his former colleagues with the news that the city is considering the idea of ​​taking out a loan from pension fund assets to pay for the Stadium of the Future for the Jacksonville Jaguars team. The plan raised questions and doubts among retirees.

An article appeared on jacksonville.com, somewhat representing the voice of the residents and presenting their skeptical approach to the potential source of funding for the new Jacksonville Jaguars stadium. According to the community, funds for this project should come from the team's sponsors rather than reaching into the pockets of hard-working individuals, most of whom cannot afford to attend a game and will not derive any direct financial benefits from the Stadium of the Future.

The article also highlights that improving city roads, addressing the issue of high crime rates, or assisting residents during economic uncertainty would mean a much better use of taxpayers' funds.

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