City Council approved an ordinance to fast-track economic incentive deals, approved new City parking legislation and appointed a new board member to the JEA, among other action Tuesday during its final meeting of the calendar year.
Among the action items:
• Legislation was approved to fast-track certain corporate economic incentive deals. Deals for less than $300,000 and not seeking waivers would require one Council reading, which could be less than a week, while those seeking more than $300,000 could be approved in two readings, which would add two weeks. Council and economic development officials have said the legislation will shave weeks off the typical approval timeline, making the City more competitive. The measure is the third and final part of Mayor Alvin Brown's economic development reform proposed in March. The first two — the creation of the City Office of Economic Development and the Downtown Investment Authority — were approved earlier this year.
• Council approved an economic redevelopment agreement between the City and L&J Diesel Services Inc., appropriating a $200,000 countywide economic development loan from the City to support the company. L&J, which remanufactures diesel engine fuel injectors, plans to expand into a larger facility at 333 Lenox Ave., several miles from its current 5323 Lenox Ave. location. The company will retain its 14 employees, create up to 20 more jobs and remain in Council District 9.
• Two economic redevelopment agreements were approved for the development of Pope & Land's Riverside Park development. The City's investment will be $7 million — $5.2 million in a Recapture Enhanced Value grant and $1.8 million in infrastructure improvements. The project will redevelop a portion of the Brooklyn neighborhood by creating 300 housing units along Park Street and 65,000 square feet of retail space along Riverside Avenue. Council member Richard Clark asked representatives of the company if they would pledge to work with neighboring developments, including the 220 Riverside mixed-use project, and the City Downtown Development Review Board, as the development progresses. The representatives agreed to do so.
• Peter Bower was appointed to the JEA board of directors. Bower, Riverplace Capital Management Inc. chairman and CEO, joins attorney Helen Albee as the latest JEA board additions.
• Council passed legislation to amend the City's parking policies at City-owned garages, surface lots and metered parking spaces. Parking officials say the legislation allows the City flexibility to set parking rates, which had been set by Council, and allows it to become more competitive and to market the services. That includes long-term agreements with companies that want to relocate Downtown, according to the administration.
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