What is the Downtown Investment Authority (DIA)?
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.
Section 55.104. DIA Established
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.
What does the DIA do?
- A City Department that is Responsible for Economic Development Downtown
- Job Creation
- Business Recruitment
- Public Parking
- A Semi-Autonomous Community Redevelopment Agency
- Tax Increment District
- Disposition of City owned property
- Support Redevelopment
What is a Community Redevelopment Agency?
- A Special District created pursuant to state statute
- Responsible for redevelopment of blighted areas in accordance with an adopted Community Redevelopment Area (CRA) Plan
- Must have an agency board of commissioners; the DIA is governed by nine Board Members
- Receives Tax Increment revenue (the taxes received on incremental increase in value of a district after the date created)
What is a Community Redevelopment Area (CRA)?
- Florida Law (Chapter 163, Part III, F.S.) allows local governments to designate areas as a Community Redevelopment Area (“CRA”) when certain blighted conditions exist.
- The local government must prepare a Finding of Necessity to document the conditions.
- Identified conditions that can support the creation of a CRA include the presence of substandard or inadequate structures; shortage of affordable housing; inadequate infrastructure; and inadequate parking.
- Redevelopment Plans must be consistent with the local government’s Comprehensive Plan.
- Monies used to finance Community Redevelopment Agency activities are locally generated within the boundaries of the CRA, it is not overseen by the State.
Downtown Jacksonville is comprised of the Northbank CRA and the Southside CRA.
To drive growth in business and investment, create a vibrant urban living environment and enhance quality of life in Downtown Jacksonville through the transparent and responsible leveraging of public investments, assets, infrastructure, and policy.
Downtown Jacksonville is a dynamic, resilient, people-friendly, urban center that capitalizes on the importance of the River and is the premier location for business, sports & entertainment, culture, and urban living in the heart of the Southeastern U.S.
DIA Core Values
There are four economic development Core Values that are going to help shape Downtown Jacksonville’s resurgence:
- Stewardship (of public funds, land, assets, culture, and the river)
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