The Jacksonville City Council authorized an amended redevelopment agreement for a luxury Four Seasons hotel and residences on the downtown Northbank. The agreement increases a Recaptured Enhanced Value (REV) Grant by $6 million to a new maximum of $56,581,200 to help offset rising construction costs for the developer, Shipyards Trustee Jacksonville, LLC. The project includes approximately 176 hotel rooms and 25 Class A condominium units. This decision also finalizes several related agreements for the marina and riverwalk components to align project timelines. The total required private investment for the hotel portion is $373,962,000.