Daily Record Financial News &
Wednesday, July 8, 2015
Vol. 102, No. 168 • Two Sections
35¢ www.jaxdailyrecord.com
New details in Barnett foreclosure Judge to decide on summary judgment next week
One side contends the written contract is just that — a written contract that should be upheld, meaning foreclosure of the historic Barnett Bank building should begin. The other counters the agreement for the redevelopment of the Downtown building was nontraditional. That conduct displayed proves that and legal judgment
shouldn’t be so hasty. Attorneys representing Jacksonville Jaguars owner Shad Khan’s Stache Investments and developer Barnett Tower LLC presented arguments Wednesday morning before Circuit Judge Jim Daniel. It was the first hearing for the high-profile foreclosure case, stemming from a May filing by Stache on Barnett Tower. Khan loaned the group $3 million to buy the Barnett building
in mid-2013 and an additional $166,000 almost a year later. Barnett Tower is led by Jacksonville developer Stephen Atkins. No payments have been made, a fact both sides agree on. “No good deed goes unpunished here,” said Gunster principal Bill Adams, who represents Stache. Adams said the agreement between the two sides was laid out in a written contract. Any
changes like Barnett Tower claims are outside the “black letter of law.” Rogers Towers attorney Scott Kennelly, representing Barnett Tower, maintained the agreement between the two sides was nontraditional and the plaintiff was using traditional means now. He said Barnett Tower received no invoices seeking payment. Kennelly said Barnett Tower originally was supposed to be Barnett continued on Page A-2
Mile Point project underway Gov. Rick Scott was in town Tuesday morning to help kick off the Jacksonville Port Authority’s Mile Point harbor improvement project. Currently, ships face challenges from strong currents caused at the site by the Intracoastal Waterway and St. Johns River converging. Those currents mean larger ships can only travel during two four-hour periods each day. It’s a $43.5 million project being funded by the state.
City Council turnover all in the numbers
By David Chapman Staff Writer
Sixteen years ago, Ginger Soud stood on the same Jacoby Symphony Hall stage as Greg Anderson did recently. Next to King Holzendorf, her friend and one of the few familiar faces on City Council, she remembers looking up and down the ranks of new members. Fourteen new members. Fourteen of 19. And she was being installed as president. “What crossed my mind was I was supposed to be leading all these people,” Soud recently recalled with a laugh. “It was a little daunting, but I had confidence in them.” The 14-member turnover is a record, but this year’s 11 isn’t far behind. And it could even be more daunting. It’ll be Anderson in the leadership role
Public
Soud held, leading the mostly new group through a public service. An adventure he likened recently to Sir Ernest Shackleton’s trek through the Antarctic Circle. It’s a different type of excursion than it was back then.
The scenery has changed
In 1999, “The Sixth Sense” was a blockbuster. Britney Spears was on top of the music world. Harry Potter was taking root. John Delaney was entering his second term as mayor. The economy was bustling. Today, it’s “Jurassic World,” Taylor Swift and “50 Shades of Grey” that remain popular. Newcomer Lenny Curry is taking the mayor’s office and the economy is still recovering from drastic drops of several years past. Delaney proposed a budget that includ-
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Dawson Orr plans expansion Downtown Photo provided by Jacksonville Port Authority
By David Chapman Staff Writer
ed a minor property tax decrease, but still the general fund pulled in an almost $38 million more. His budget also included 100-plus more police officers, boosted reserves and spending for programs dealing with parks, anti- Soud littering and Springfield homeownership. Curry’s spending plan won’t be known until July 20, but he also wants additional police officers. During the campaign, he continuously hammered to voters the need to hire 147 more, but won’t be able to implement that Turnover continued on Page A-3
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A fourth law firm is renovating and expanding in the Bank of America Tower Downtown. Dawson Orr will expand into about 1,730 square feet next to its 6,000-square-foot offices on the 16th floor of the 42-story high-rise at 50 N. Laura St. Partner Michael Fox Orr said the firm plans to hire more lawyers with the expansion, which should be completed this month. “We employed a slow growth strategy, but the market seems to disagree with that approach,” he said. Orr said law partner Carl Dawson’s 64 years of practicing law in Jacksonville has well-positioned the firm. He said three lawyers were hired in the past year and more will be added soon. In addition to the expansion, the firm also will be renovating some of its existing space. Dawson Orr’s practice areas include commercial and business, real property, professional liability, construction, insurance and personal injury litigation. Three other firms that are completing renovations are Holland & Knight, Nelson Mullins Riley & Scarborough and Smith, Gambrell & Russell. Law firms are well represented among tenants, with 15 firms leasing a total 225,000 square feet, or 34 percent, of the 660,000-square-foot building.
Steinemann files for $13M office building
Steinemann & Co. Real Estate is taking more steps to develop a three-story office building in Southside, submitting a building permit application for a $13 million project. Jacksonville-based Steinemann filed the application for the next phase of Sutton Place at Windsor Parke at 13885 Sutton Park Drive S.
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