Daily Record Financial News &
Friday, May 15, 2015
Vol. 102, No. 130 • One Section
The
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Shipyards race to be top cop appraisal Jefferson wants to save generation comes in at $26M By Marilyn Young, Editor
Ken Jefferson could have been one of the kids in his generation lost to a life of violence and crime. Those who spent their lives trying, but often failing, to stay one step ahead of police. He grew up in Washington Heights Apartments on Moncrief Road, where he and his six siblings shared a two-bedroom place with their parents. He was one of the lucky ones, coming from a stable, loving family. His father worked two jobs, leaving his mother to be the “strong tower of the house.” But, Jefferson got into a lot of fights as a kid and remembers being pushed around by bullies who would throw his school books in the woods. He’d have to wait until it was dark and the bullies were gone to run back and get his books. His life could have gone either way, until the day a young police officer with a commanding presence walked into Jefferson’s fifth-grade class. It changed everything. Jefferson.. Continued
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Williams seeks more outreach By Marilyn Young, Editor
When Mike Williams was a rookie cop in 1991, he learned the value of being engaged with residents. He watched as his training officer worked hard to gain the trust of the residents in Springfield. The officer didn’t just occasionally talk to residents. It was part of his daily routine. Instead of going to a restaurant for lunch or dinner, he’d eat with them in their homes. It was an eye-opening experience. “This guy was really engaged,” Williams said. “He was a great policeman because of that.” That’s an approach Williams adopted. He knew taking five minutes to talk to someone raking leaves or outside a convenience store would help him do his job. To have someone trust him enough to come up to him and say, “Hey, officer, he went over there.” Williams said making sure line-level patrol officers have more contact with residents is something that will happen if he’s elected Jacksonville sheriff. Williams.. Continued
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By David Chapman Staff Writer
The Downtown Investment Authority now has a key detail it needed before starting negotiations with Shad Khan’s company about its Shipyards proposal. The appraisal for the riverfront site recently came in at $26 million — $24.5 million for nearly 30 acres of developable uplands and $1.5 million for the 14.7 submerged acres. “I’m not really sure I had any real expectations,” said DIA board Vice Chair Jack Meeks. “The simple answer is I didn’t expect it to be $100 million … and I didn’t expect it to be $10 million.” One key aspect, he said, are the sales comparables. The 111-page report from Integra Realty Resources uses four — with one being across the St. Johns River from the Shipards. The former JEA site on the Southbank that Peter Rummell and Mike Balanky will build into the mixed-use “Healthy Town” concept was used for analysis. The $18.5 million “in contract” sale resulted in about $650,000 an acre for the 28.6-acre site. The adjusted price brought it up to $820,625 — about the same as the Shipyards. “My experience is, it becomes just one point of information,” Rummell said of appraisals in general. “It’s not unusual at all for it (a sale) to go higher or lower.” Balanky said when it comes to typical appraisals, it can make a difference to lenders. One factor that can impact the review is if a parcel is zoned appropriately. For instance, the land where San Marco Place condominiums on the Southbank were built tripled in value once it was rezoned from commercial to residential, he said. But like Rummell, Balanky said appraisals are just one of the tools used to strike a deal. In the case of the Shipyards, much like Healthy Town, the deal doesn’t come from two private sides but a public and private entity. That means other factors, such as community significance, can have an impact on a deal. And this deal will be much more than just the land. Who pays for improvements to areas like Bay Street and Hogans Creek and how tax dollars will be divvied up are just a few of the points that need to be Shipyards.. Continued
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Jacksonville-based Load King Manufacturing Co. is a privately held company that has operated quietly for 43 years in West Jacksonville, near Downtown. Every now and then, it surfaces publicly, providing a glimpse into a company whose products most people likely have touched or seen. The company, based at 1357 W. Beaver St., creates store interiors for the food-service industry. It designs, builds and installs commercial furniture, kiosks, countertops, graphics and more. Think AMC, Starbucks, Tar-
Public
get and, its first customer, WinnDixie. It recently applied for a building permit to create a new prototype room in its corporate offices and factory. That permit asks to build-out about 3,400 square feet of space in its factory for presentations and employee meetings. It would
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include a kitchen, cooler and freezer, storage and supply space. Load King is the contractor for the $185,000 project. The company declined an interview. State records show Load King was incorporated in 1972 and appears to remain a family-led company. Along with President Charles O. Chupp, officers include David Peek, Carrie Chupp and Todd Chupp, according to state records filed Jan. 19. Its website details its decadeslong presence in Jacksonville. Mathis.. Continued on Page A-4
Photo from Loadking.com
Load King ‘store in a truck’ continues to grow
Load King Manufacturing Co. has quietly operated near Downtown for more than 40 years. The maker of store interiors employs at least 150 people.
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