The Jacksonville City Council authorized a redevelopment agreement with the University of Florida Board of Trustees for a major downtown campus project. The agreement includes the conveyance of approximately 22.94 acres of city-owned land, comprising five parcels including 801 W. Bay Street, Site A, Site B, the Convention Center Parcel, and the Train Station Parcel, to the University at no cost. The City also committed $100 million in funding to the project, with an additional $5 million to reimburse the developer for acquiring an adjacent privately-owned parcel. The development encompasses the renovation of an existing 39,000 square foot building and the construction of at least 120,000 square feet of new Class A education space, potentially totaling 159,000 square feet. This new campus will host graduate-level programs in business, engineering, health sciences, and a Florida Semiconductor Institute. The total private capital investment for the project is anticipated to be $245 million. The ordinance also waived Section 118.107 of the City Grants Ordinance Code to allow a direct contract with the UF Board of Trustees, circumventing the usual competitive award process.