Kevin Meerschaert
Jacksonville Mayor Alvin Brown signed a new law Tuesday giving the Downtown Investment Authority funding for various development projects.
The legislation was nearly two years in the making as the DIA created its development plans. The bill appropriates $2.5 million a year from the Downtown Development Trust Fund to pay for the projects.
“With today’s bill signing,” Brown said, “the DIA is now the full-fledged engine for Downtown Jacksonville that will drive more jobs, residents and investment in our urban core and revitalize the heart of our city and Northeast Florida.”
DIA Chairman Oliver Barakat said there are years’ worth of projects waiting to be decided upon.
“I think within the next couple of months we will be referencing that table, list the projects,” he said, “We will determine which ones we can afford and which we want to do first. We can also use the dollars for incentives.”
