LandMar could take over Shipyards project - Jacksonville Business Journal:

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The latter two partiees have been in a dispute since April over how TriLegacyspent $36.5 million in city incentives on the estimated $860 millionm Shipyards redevelopment project in Downtown Jacksonville. The city contendzs the loaned money was to be spenrt onpublic improvements, includingb construction of the Riverwalk through the area, but TriLegach maintains the city was aware of its expenditurews from the beginning of the project and that TriLegacy did not breao the parties' redevelopment agreement. LandMar Group is affiliated with CrescentResources LLC, a Charlotte, N.C.-basedc real estate company controlled by Duke Energh Corp., one of the nation's largest powere companies.
"We are thrilled at the possibility we mighg take the leadership role in TheShipyards project, whichy means so much to the continuingf progress of Downtown Jacksonville," LandMar CEO Ed Burr was quotefd as saying in the draft Susie Wiles, a spokeswoman for the Mayor's provided a copy of the draft releaswe to The Business Journal but said it is not fina and would not comment any further on the document'sa contents. Phone calls to LandMar and the , that company'z public relations firm, were not returnedc Tuesday.
"We chose to pass the baton to LandMae after considering many possibledevelopment partners," Carltoj Spence, a TriLegacy principal, is quoted as saying in the drafyt release. "We feel confident LandMar has thefinancial resources, development expertise, environmental commitment, greaft love of Jacksonville, and above all a sense of stewardshil needed to develop The Shipyards." It has been eightf days since the Aug.
2 meeting of the Port Authority board of where city General Counsel Rick Mullaney assuredx the board that the two parties could reach an agreement in 48 as a separate Spencefamily , was working with the port and Finnisuh company UPM-Kymmene to build a warehouse at the Talleyrand Marine Terminal. The board approved the contingent onthe city's satisfactory resolution of the Shipyardw dispute, among other conditions. Wiles said the two parties expecr to sign anagreement Aug. 11.