Federal judge ponders land-lease deal lawsuit
A federal judge is considering a motion filed by the Jacksonville Aviation Authority which asks for a lawsuit, brought by a property developer against the JAA, to be thrown out.
The JAA says that its charter did not specify that they had to solicit bids before going ahead with a option-lease agreement with California-based developer Majestic Realty Inc.
The agreement would give Majestic an option to lease 328 acres of land near Jacksonville Airport for a period of 65 years. They could then develop the land to build and lease buildings and share the resulting revenue with the JAA.
However Dallas-based Jackson-Shaw Co. doesn’t like that arrangement and they have asked the federal judge to halt the deal.
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