JACKSONVILLE, Fla. – A special committee that’s focused on the future of Downtown Jacksonville met Monday to discuss the future of three historic high rises.
The group is looking at the next steps for the Laura Street Trio which includes possible foreclosure on the property.
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RELATED: City of Jacksonville seeks to foreclose on Laura Street Trio Downtown
The city says the developers owe over $800,000 in unpaid fines.
The meeting will focus on the legal issues involving the project.
According to our news partners at the Jacksonville Daily Record, since October 2015 the Trio has been racking up daily fines for violations of property safety and maintenance code.
If foreclosed on, the city could decide to demolish the buildings.
Steve Atkins and the development company bought the Trio back in March of 2013.
Since then, negotiations with the Downtown Investment Authority have gone back and forth.
The last proposal to the city came out to about $85 million.
Agreements were seemingly met in 2017 and 2021 but construction was not completed either time.
And without that, the Trio has been racking up quite the bill.
Plans for the buildings included hotels, restaurants and apartments.
The city and the developer are in negotiations over the future of the project and a potential lawsuit the two side said they hope to come to an agreement in the next 60 days.