Statement on the Jacksonville “Stadium of the Future” Agreement
May 25, 2024 (Jacksonville, Florida) - Jessie Ball duPont Fund President Mari Kuraishi released the following statement this morning:
“The Jessie Ball duPont Fund congratulates the City of Jacksonville and the Jacksonville Jaguars for the recently announced Stadium of the Future agreement. It clearly reflects a lot of thoughtful work on the design of a partnership that works not only for NFL fans, but for the entire city of Jacksonville. What happens next in the process will make the difference in realizing that potential.
While many details are still to be worked out, as a funder who works with donors and nonprofits across Northeast Florida, we believe that the Community Benefits Agreement is a critical component of this agreement. There is $150 million of private money on the table for critical issues in Jacksonville, in addition to the commitment from the City. That represents a $300 million investment in downtown public spaces, affordable housing, homelessness, community development and in people to ready them for employment. These are investments that will benefit the entire community, and the Jaguars’ contribution to the CBA is entirely additive to taxpayer funds from the public sector.
A Community Benefit Agreement is a contract between a developer and a coalition of community groups that binds the developer to provide specific benefits to the local community in exchange for community support for the project. Jacksonville has never implemented a Community Benefit Agreement–and it is an innovative approach that can lead the way for deepening partnership between the public and private sectors. Combining the construction cost-sharing and the terms of the lease renewal with a thoughtful community benefits agreement is necessary to ensure that all parties, including all the citizens of Jacksonville, realize the benefits of a new stadium. We encourage community leaders to ensure the terms of the CBA are clear, achievable in the near-term, measurable, and prioritized based on community input.
We look forward to the passage of an economic development agreement that keeps the Jaguars in Jacksonville and includes both parties’ commitments to the community to maximize the benefits for all of Northeast Florida.”
