The developers looking to build a massive development on JEA-owned land on the Southbank are going back to basics.

On Tuesday, a complicated proposal that would have seen JEA transfer to the city a purchase agreement for the 30 acres next to the Duval County School Board building was scrapped at the request of the developers. The change was unanimously approved by the JEA board.

Three years ago, Elements of Jacksonville LLC was picked to pay $18 million for the riverfront land. However, the JEA extended the deadline for Elements to close on the property before an annual deadline each time it approached.

Read the full story from our partners at the Jacksonville Business Journal here.