by Bradley Parsons
Staff Writer
Citing pending changes to the City’s economic development process, the Jacksonville Economic Development Commission declined to endorse the current structure of the Northwest Jacksonville Economic Fund.
The commission deferred a vote on a resolution, urging Mayor John Peyton to continue support for the fund, which is designed to boost development in the City’s Northwest sector. Commission chair M.C. Harden said the resolution was premature in light of ongoing discussions with Peyton to streamline the JEDC.
Harden said the mayor wants more accountability for City incentives. He said performance measures have been discussed as have the criteria used to evaluate projects.
“We are undergoing a re–assessment of our mission,” said Harden. “We’re trying bring a little more focus.”
Discussions between the mayor’s staff and the JEDC have been guided by recommendations issued by Peyton’s transition team, following a three–month review of the commission. The transition team recommended a more systematic approach to issuing and tracking incentives.
Omega Allen, chair of the Northwest Fund’s advisory committee, said she understood the JEDC was in transition, but she said she hoped the resolution would ensure development in the area was “not put on hold.”
Allen said she wanted to maintain the status quo both with the structure of her committee and with the way funds are distributed. The current guidelines, she said, allowed her committee flexibility to request funds where and how they are most needed.
As the mayor works toward a new structure for the JEDC, Allen said she wanted her committee to be part of the decision–making process. So far, she has not been contacted.
“Unless you have an intimate relationship with the people trying to do business in the area, some of their major concerns may not be evident,” said Allen.
Since 2001, the fund has dispersed incentives from $25 million in Better Jacksonville Plan money. About $9 million remains. Allen said she wanted to ensure the fund’s future viability.
“We don’t want to be left out,” she said. “We want to be considered with whatever funding sources are identified for other incentives; bond issues or whatever.”
Commissioner Susan Hartley assured Allen that Northwest development would remain a priority.
“We appreciate the importance of economic development in that area,” said Hartley. “You can tell your committee that we strongly suggest moving forward. Don’t put anything on hold.”
The JEDC also:
• approved unanimously a resolution authorizing the issuance and sale of $88 million in hospital revenue bonds Shands Jacksonville Medical Center, Inc. Shands will use the money to refinance $43 million in existing debt and spend $45 million on capital improvement projects. Commissioner Charles Applebly said he was concerned the City may be called on for help if Shands cannot pay down its debt.
• approved unanimously up to $76,000 in loans and grants to help William Bodie, owner of Bodie Electrical Contractors of Florida, Inc., renovate a 3,000 square–foot facility on Cleveland Road. The money will help renovate the building into a new office and should create 10 jobs at an annual projected salary of $20,753.