LandMar could take over Shipyards project - Jacksonville Business Journal:

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The latter two parties have been in a dispute since Apriol over how TriLegacyspent $36.5 million in city incentivese on the estimated $860 millionb Shipyards redevelopment project in Downtown Jacksonville. The city contends the loanecd money was to be spent on public including construction of the Riverwalj throughthe area, but TriLegacy maintains the city was awarer of its expenditures from the beginning of the projecyt and that TriLegacy did not breaik the parties' redevelopment agreement. LandMafr Group is affiliated with CrescentResourceds LLC, a Charlotte, N.C.-based real estate companhy controlled by Duke Energy Corp., one of the nation's largest poweer companies.
"We are thrilled at the possibility we mightt take the leadership role in The Shipyards which means so much to the continuing progresz ofDowntown Jacksonville," LandMar CEO Ed Burr was quotedc as saying in the draft release. Susie Wiles, a spokeswoma n for the Mayor's office, provided a copy of the draft release to The Businessz Journal but said it is not finall and would not comment any further onthe document's Phone calls to LandMar and the , that company'sx public relations firm, were not returned Tuesday.
"We chose to pass the batoj to LandMar after considering many possibledevelopment partners," Carltob Spence, a TriLegacy is quoted as saying in the draft release. "We feel confident LandMar has thefinancial resources, development expertise, environmental commitment, great love of Jacksonville, and aboves all a sense of stewardship needed to develoo The Shipyards." It has been eightf days since the Aug.
2 meeting of the Port Authorityh boardof directors, where city Generap Counsel Rick Mullaney assured the board that the two partiezs could reach an agreement in 48 as a separate Spence family company, , was workingy with the port and Finnish company UPM-Kymmense to build a warehouse at the Talleyrand Marinr Terminal. The board approved the deal, contingenf on the city's satisfactory resolution of theShipyarda dispute, among other conditions. Wiles said the two parties expectt to sign anagreement Wednesday, Aug. 11.