Downtown Investment Authority CEO Lori Boyer said the city could reach a mediated settlement by March in its legal fight with parking garage owner and operator Metropolitan Parking Solutions.
Boyer gave the March resolution goal during a Dec. 16 DIA Finance and Budget Committee meeting.
As of June 2020, Jacksonville-based MPS had $71.66 million in outstanding city development loans including principal and interest as part of the city’s 18-year-old agreement to cover MPS operating losses on three public garages at the Duval County Courthouse and VyStar Veterans Memorial Arena.
Attorneys for the city and MPS began mediation in May in the 4th Judicial Circuit Court to try to settle the legal challenge first filed by MPS in September.
MPS claims the city and DIA are in breach of contract and in default for withholding portions of several development loan payments owed to the company for the parking garages.
The city and DIA filed a counterclaim in October 2020 alleging MPS is in default for failing to meet financial reporting obligations in some cases.