The Downtown Investment Authority was created by city ordinance Aug. 15, 2012, to act as the Community Redevelopment Agency for Downtown.
Ordinance 2012-364 states, in part, “The creation of a vibrant, healthy downtown for Jacksonville is a major, multi-faceted long-term and complex challenge that requires the concentrated and continuing effort of a city authority dedicated solely to the downtown mission.”
Nine members serve on the authority’s board. Five are appointed by the mayor, four are appointed by the City Council president and all are confirmed by council.
Board members serve four-year terms, without compensation, pension or retirement benefits.
The authority is led by CEO Aundra Wallace with a staff from the city Office of Economic Development.
The authority is empowered to develop a marketing plan for Downtown, interpret the Downtown Master Plan, develop and implement a Downtown Business Investment and Development Plan and receive and administer grants from public and private sources.
City Council reserves the authority to grant final approval or modification of Downtown community redevelopment plans; issue revenue bonds; acquire, demolish or remove property; develop community policing innovations; and exercise imminent domain.
The ordinance established the DIA Redevelopment Trust Fund into which funds are deposited from the two Downtown CRAs, Tax Increment Fund revenue and revenue from sale of city-owned property Downtown.
The 2017-18 city general fund budget includes $1.26 million for employee salaries and benefits, internal city expenses, professional and contract services and insurance.
Visit the authority’s website: dia.coj.net for more information.