Downtown Investment Authority
The Downtown Investment Authority (DIA) functions as two agencies: the Community Redevelopment Agency and the Economic Development Agency. The overarching responsibilities of the DIA include:
- Acting as the Community Redevelopment Agency that manages the Community Redevelopment Area (CRA) Plan’s goals and core values and implements the near-, mid, and long-term projects, programs, incentives, and initiatives;
- Effectively managing and allocating funds from the Tax Increment Finance (TIF) Trust Fund in correlation with identified projects, programs, and initiatives in the CRA Plan; and
- Acting as the Economic Development Agency of the City within the boundaries of Downtown, leveraging City allocated funds to attract investment, create jobs, and restore vibrancy to Downtown Jacksonville.
- Oversee the Office of Public Parking, which manages city-owned parking lots and garages.
On August 15, 2012, the Jacksonville City Council enacted the “Downtown Investment Authority Act” to provide a “single, comprehensive organizational structure for the Downtown Investment Authority (“DIA”) and a “single, comprehensive method of addressing redevelopment Downtown (see: Ch. 55, Ordinance Code). The DIA is the sole development and community redevelopment agency (“CRA”) for the two Downtown Community Redevelopment Areas: 1) the Southside Community Redevelopment Area and 2) the Downtown Northbank Community Redevelopment Area. In addition, the DIA is the sole Public Economic Development Agency assigned to promote the general business interests in Downtown.
The Downtown Investment Authority serves as a clearinghouse to establish an identity for the region that capitalizes on partnerships to guide the revitalization of the core of the City of Jacksonville. To attract investment, facilitate job creation and residential density, while assuring a unified effort is strategically focused to implement action through capital investments, planning, advocacy, marketing and the establishment of policy for the general community and Downtown stakeholders.
There are five economic development core values essential to Downtown Jacksonville’s resurgence:
- Business retention is the process of supporting and retaining established businesses to achieve a reliable and diverse revenue stream that continually improves Downtown’s fiscal health.
- Business attraction includes actively pursuing private investment and new business aimed at stimulating the Downtown local economy and generating employment opportunities.
- Business expansion capitalizes on both established and emerging companies that are prepared to grow and invest in their operations.
- Residential increase includes a focus on programs that incentivize multi-family rental and ownership programs for millennials to active adults.
- Lastly, improvements to public infrastructure strengthen the DIA’s ability to create an environment that results in retaining, attracting, and expanding business.
The DIA consists of a nine-member Board, a Chief Executive Officer, and several staff members. In addition to serving as the Downtown CRA and Public Economic Development Agency, the DIA Board has many powers and duties, pursuant to Sec. 55.108, Ordinance Code, including but not limited to:
- Developing a marketing plan for Downtown
- Interpreting the Business Investment & Development (“BID”) Plan and approve development and redevelopment projects within Downtown, with the support of the Downtown Development Review Board (“DDRB”)
- Hearing appeals of the DDRB on all matters other than requests for exceptions, variances, sign exceptions, and waivers from the Zoning Code
- Promulgating and amending the Downtown Design Guidelines
- Reviewing the BID Plan every five years, and update or portion or in its entirety, subject to City Council approval
- Adopting additional community redevelopment plans for Downtown, subject to City Council approval
- Implementing the BID Plan, negotiating and granting final approval of Downtown development and redevelopment agreements, grant agreements, license agreements, lease agreements, and other agreements
- Negotiating and monitoring economic incentive packages for Downtown
- Negotiating, assigning, and allocating development rights as Master Developer pursuant to the Downtown DRI Development Order
- Receiving and administering grants from public and private sources in coordination with other City agencies
- Preparing analyses of economic changes taking place Downtown and studying the impact of metropolitan growth in Downtown
- Acquiring and disposing of City-owned Downtown property acquired, or intended to be used, for community redevelopment purposes
- Administering and managing the downtown tax increment finances (“TIF”) for the Southside CRA Trust Fund and the Northbank CRA Trust Funds
- Receiving, disposing of, and bonding all authorized revenue, with City Council approval to issue bonds
- Planning and proposing projects and public facilities within Downtown and establish, operate, lease, and license such public facilities
The DIA Bylaws can be found here.
Downtown Investment Authority
117 West Duval Street, Suite 310
Jacksonville, Florida 32202