Here is a recent article from the Times-Union explaining how the city is essentially giving con free money. No need to repay, no collateral.
https://www.jacksonville.com/story/news/...tZO_jaL6v8

Nested way at the bottom of the article, as an afterthought, the main reason why the city is having such a hard time getting this land developed.

The environmental remediation work for Lot J is projected to take 3 years, optimistically. Similar to the shipyards, which also still have years and years of remediation ahead of them.

I believe lot J is already city property. I don't know if the shipyards are.

Just my opinion, a smarter City would just put up the money to dig out all the bad soil and put in new good soil, and then sell the remediated land for the best price they can get.

they would probably spend more money cleaning the land up, than they would get selling it at the end. But it might be worth it, if it increases property values and therefore tax receipts from adjacent properties. A lot of those properties also need environmental remediation. But the private sector might be willing to do that remediation themselves, if the property value increases enough. the Jacksonville taxpayer should want to see the city trying to kick off that type of chain reaction, but doing it just as a giveaway to one set of billionaires makes no sense at all.

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