JACKSONVILLE, Fla. – The City Council granted the developer of Jacksonville Surf Park a tax break of up to $4.6 million, according to our news partners at the Jacksonville Daily Record.
On Wednesday, councilmembers voted 17-0, with members Matt Carlucci and Terrance Freeman away from the dias, on Ordinance 2025-0776, which would support developer Aventuur Inc. in building the mixed-use project in South Jacksonville. The funding comes as a 10-year, 75% Recapture Enhanced Value Grant.
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A REV grant is a refund on ad valorem tax revenue generated by a new development or property enhancement. It can apply to property and tangible personal property, and requires improvements to be made before the refund is provided.
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According to Ed Randolph, the city’s executive director of economic development, Aventuur’s engineers told the company it will have to invest $20 million to $30 million more than the $110 million originally estimated for the project.
A memo from the OED said costs for the 45-acre development, including the 5.5-acre surf park, have grown by more than 20%.
Based on the increase in cost estimates for the project, Aventuur Inc. requested support from the city.
The park at 11374 Etown Parkway is part of a 237-4-acre development southwest of Florida 9B and Interstate 295 interchange.
A 5.5-acre Wavegarden Cove surf lagoon anchors the park, which features a surf academy, hotel, wellness center and clubhouse. The facility also includes dining, retail and event spaces.
Construction is scheduled to begin in early 2026, with the park expected to open in early 2028.