A City Council joint committee vote to approve legislation to create a Downtown Investment Authority could come next week.
However, the remaining portion of Mayor Alvin Brown’s economic development reform — expediting the approval of incentives deals — doesn’t appear to be close.
“That’s not something we are going to get to anytime soon,” Council President Bill Bishop told members of a joint meeting of three committees — Rules, Finance and Recreation and Community Development.
The committees are reviewing three pieces of reform legislation — the Downtown authority, the incentives approval cycle and the Office of Economic Development. That office has been approved by Council.
Bishop said he “did not know” the direction of the incentives approval reform.
The incentives approval legislation (2012-213) speeds up Council review of economic development deals by requiring only one or two readings, reducing the time officials say it currently takes from about 10 weeks to four or five weeks.
Brown and economic development officials said the overhaul of the economic incentives policy would make Jacksonville more competitive in creating jobs and luring businesses from other cities.
Brown’s new Office of Economic Development replaces the Jacksonville Economic Development Commission.
The committees continued their discussion about the proposed Downtown Investment Authority, which Brown hopes will guide Downtown development projects.
The committee continued to review that legislation, including discussing Council member Lori Boyer’s lengthy Land Use and Zoning Committee amendment and addressing the Council Auditor’s Office’s concerns.
The committees also discussed the authority’s ability to readily acquire outside legal counsel, whether the authority should use the City’s real estate department, Community Redevelopment Authority funds accounts, and the degree of Council oversight on executed development agreements.
Bishop wants to complete the review of the Downtown authority before budget hearings begin.
“We need to get it moving and need to get it done,” Rules Committee Chairman Clay Yarborough recently said.j5
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