The Downtown Investment Authority, by a vote of 7-0, approved two grants Oct. 18 totaling $90,000 to Downtown Vision Inc. to offset the cost of producing entertainment along the riverfront Downtown.
DIA board member Oliver Barakat abstained from the vote because he also is a member of DVI’s board of directors.
DVI will receive $36,000 from DIA to support the Jax River Jams concert series in fiscal year 2023-24.
Jax River Jams is DVI’s free, four-week concert series in April on Downtown’s Northbank riverfront that features national headliners with local and regional opening acts.
The contribution will pay for musical talent for the program series.
Payment will be made upon delivery of the executed contracts with the performers and evidence that payment has been made to secure the performance.
DVI also will receive $54,000 to support Sip and Stroll, the Thursday happy hour on the Southbank Riverwalk.
The grant, divided into two payments, will cover the cost of musical talent and other expenses including staging and sound and lighting at the yearlong program series.
A payment of $27,000 will be made upon completion of the first three events in November, December and January. The amount of the payment is fixed at $27,000 regardless of the total of paid invoices to date.
A payment not more than $27,000 will be disbursed upon completion of the series and delivery of paid invoices and receipts for musical performers, staging, sound and lighting paid for each event in the series.
In the event the total of all invoices paid equals or exceeds $54,000 the entire $27,000 second payment will be made. In the event the total of all paid invoices is less than $54,000, the amount of the second payment will be reduced accordingly.
The DIA board via Resolution 2023-04-02 and the City Council via Ordinance 2022-0504-E adopted DIA’s administrative budget for FY 2023-24, which includes $125,000 for event contributions.