Jacksonville’s City Council to decide on $11M for economic development
Downtown revitalization funds are now in City Council’s court.
Council is set to vote on a $9 million transfer from City savings to the Downtown Investment Authority to use for Downtown rejuvenation and $2 million for countywide economic development.
Two Council committees met Tuesday and approved transferring the $9 million to an economic development fund for the authority and $2 million in the countywide development fund for the City Office of Economic Development.
Both committees unanimously passed the legislation. The full Council can vote on it Tuesday.
Pending Council approval next week, the question becomes the timeframe when the authority can access those funds — and if the allocated $9 million will still be intact.