Jacksonville Jaguars President Mark Lamping said there's a short line of individuals willing to invest $1 billion into Downtown Jacksonville. It consists of one man: Jaguars owner Shahid Khan.
"It may or may not come as a surprise to you but one thing that comes when you get an NFL team is a really rich person who owns that team," Lamping told Florida TaxWatch members.
The sports executive made the case to the fiscal watchdogs that an investment in sporting facilities brings numerous benefits to the community making them. Some of those are intangible. Some come in the form of massive development investments in urban communities.
Lamping pointed to situations in other Florida communities that serve as both models and warnings.
He noted that Tampa Bay Lightning owner Jeff Vinik has paid to completely develop the downtown area surrounding the Amalie Arena. After buying the sports franchise in 2010, Vinek partnered with Cascade Development and began work on redeveloping land around the sporting venue. Vinik earlier this year sold his shares in the Water Street Tampa development, which had already constructed the Tampa Edition hotel and other revitalizing projects.
"He built the hockey rink and the hockey arena wasn't the end of the plan," Lamping said. "It was really just the start."
He also discussed Camping World Stadium in Orlando, a publicly owned facility now in need of some $800,000 in renovations. But the facility doesn't have a private partner like the Jaguars or Lightning.
"Orlando has no partner (to) really address the problem with their aging, publicly owned status," he said.
While sports stadiums get classified by critics as corporate giveaways, he said the private investment that comes with it can prove at least as valuable as the presence of a professional team.
A positive partnership is one of the goals for the Jaguars, according to Lamping, as they continue negotiations with Jacksonville over stadium renovations. He said an important piece to remember is that Khan wants any forward motion to include a revitalization of Downtown Jacksonville, with the assumption that will benefit his interests and those of the city.
He'd like a result similar to the Tampa model, and which would leave Jacksonville better than when the team charged into town. He said there are "great opportunities" and that many people believe Jacksonville "can have a vibrant downtown" and enjoy a similar renaissance to what is ongoing in downtown Tampa.
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