The city retention pond site wanted by the AR Polar.
AR Polar plans not revealed
A draft DIA term sheet refers to AR Polar Jacksonville as a developer, but the document does not say what the company plans to do with the property.
Boyer said AR Polar has been in talks with the DIA for a while to acquire the retention pond and redevelop the site. She said the company universitas swasta terbaik di jakarta has discussed potential uses with the DIA, but Boyer told the board she would not disclose the developer’s concept or the city’s appraised values of the properties unit the board considers the term sheet.
That could happen as early as the May DIA board meeting.
Boyer said the cost to build a new retention pond would be about $3 million and the developer would be asked to pay for a part of the roadway construction.
According to Boyer, the city Department of Public Works told DIA officials that interconnected underground drainage infrastructure would allow the replacement retention pond to be built anywhere within a half-mile radius of the existing pond.
Boyer said the could allow the city to reserve the replacement parcel from AR Polar for other uses.
“I didn’t want to put the cart before the horse and assume that we had a transaction with this particular developer until we’d gone through the disposition process,” Boyer said.
DIA board member David Ward said he was hesitant to move forward without knowing whether the deal was a financial benefit or loss for the city, although he voted to support the disposition.