Jaguars Present Stadium Proposal to City of Jacksonville

The proposal will be voted on by the city next month.

Via Jaguars/City of Jacksonville /

The Jacksonville Jaguars are another step closer to solving their long-term stadium question.

The Jaguars' agreed deal with the city on the parameters was presented to the Jacksonville City Council on Tuesday. The stadium project is estimated to cost $1.2 billion.

The proposed deal includes a 30-year lease agreement with a Non-Relocation Agreement. Both the Jaguars and the City of Jacksonville will contribute $625 million to construction costs, with the Jaguars taking on any overrun costs.

"Mayor Donna Deegan, lead negotiator Mike Weinstein, and Jaguars President Mark Lamping jointly presented a landmark stadium renovation agreement at the Jacksonville City Council meeting on Tuesday, May 14," the City of Jacksonville said in a statement.

"All parties are pleased to have reached agreement on the framework of a deal that protects the taxpayers, benefits the entire community, and secures the Jaguars’ presence in Jacksonville for decades to come," the statement continued.

"Estimates suggest the economic impact of the renovated stadium to the Jacksonville community throughout the Jaguars’ 30-year lease will total $26 billion, with an estimated $2.4 billion in one-time economic impact during construction. This $1.4 billion deal compares favorably to other NFL markets. It is also the largest public infrastructure investment in Jacksonville history, and the largest private investment in the history of downtown Jacksonville.

The next step is for this stadium deal to be voted upon by the city council in June. If the deal is approved, the NFL owners will then have to approve the deal before construction begins.