Legislation 2018-089 was passed by City Council on March 13, 2018 that was introduced by District 11 Council Member Danny Becton whereby the 9A/Baymeadows Regional Park will get a new name in exchange for annual payments to provide for capital improvements to enhance the park in coming years. In a deal brokered by CM Becton and leadership of Perimeter Reality which is the subsidiary of Fort Family Investments, headed by Don Fort, the park will be renamed "Fort Family Regional Park at Baymeadows".
Upon the bill’s passage the City and Perimeter Realty will enter into an agreement where the company is to pay $100,000 to the city annually for 10 years. Upon conclusion of this agreement, Perimeter and the City can renew the agreement for additional and successive five-year periods.
These funds are meant to augment the usual funding the city provides the park in the annual budget. The yearly $100,000 payments will be used for enhancements and improvements to the park, but not intended for routine maintenance. The contact states “…such funds may be expended for other purposes found beneficial to Fort Family Regional Park at Baymeadows, approved by the Director of the Parks, Recreation and Community Services Department and the District Council Member.”
Council Member Becton’s comment on this agreement:
“This agreement represents an accomplishment of a goal that I have had to utilize this district asset to partner with a company like Perimeter Realty and the Fort Family to enhance this public amenity. The Fort Family is highly respected and has developed some of the highest quality and most impressive luxury apartment rental communities within our area. Their projects within Baymeadows include Spyglass, Hacienda and the Cabana and Galleria Club. It only makes sense that with their footprint in this part of Jacksonville being what it is, that they have a vested interest in enhancing the quality of life for all residents. I am excited about this partnership and what it will bring to the Fort Family Regional Park in years to come.”
As part of this agreement, signage will be changed to designate the new name as “Fort Family Regional Park” on the entrance marque whereby the costs will be borne by Perimeter Realty. The city still remains as the title holder and operator of the park.
Fort Family Investments, along with its property management subsidiary Perimeter Realty Inc., began in 1972 by Donald Fort. Fort Family Investments owns and manages 225,000 square feet of commercial properties while focusing on apartment development, primarily in South Jacksonville and one in Jacksonville Beach. Its seven completed projects comprise 1,860 units and has built luxury apartment rental communities including Hacienda Club, Cabana Club and Galleria Club, Spyglass, Alaqua and Palm Bay Club apartments in District 11. Currently under development is the 464-unit Luxor Club in Flagler Center. (information provided by January 19th, 2018 article from the Jax Daily Record; Jax Daily Record).
More information on Perimeter Realty and Fort Family Investments can be found at: Fort Family Investments
2018-089 Sponsorship Agreement
Visit the Photo Galley for Pictures of the event.
Posted on Tue, March 13, 2018
by Carol D'Onofrio