The Downtown Investment Authority board signed off on a $178,000 annual salary contract offer to Aundra Wallace, its choice to become the authority's first CEO.
Wallace, Detroit Land Bank Authority executive director, would have an Aug. 19 anticipated start date and language incorporated in the offer would require he live in Duval County by that time.
The offer letter was approved Wednesday by the board in a special meeting and also includes up to $6,000 in reimbursable relocation expenses.
"The DIA believes that your education, experience and expertise will make a significant contribution to the City of Jacksonville and I look forward to you joining our team," said the letter, which was signed by incoming authority Chair Oliver Barakat.
Barakat handled contract negotiations with Wallace, who the board selected as its first CEO after a public interview earlier this month.
He was chosen after a national search attracted more than 60 applicants, which were narrowed to three finalists for public interviews before one withdrew.
As reported, Wallace told the board during his interview he wants to see Downtown become a revenue-producing neighborhood.
He said his goals included developing Downtown's core with a focus on providing housing options to bring residents and support existing retail; attracting and producing market-driven retail stores; enhancing the neighborhood's green space and pedestrian-friendly transportation along the St. Johns River; and building relationships with businesses, tenants, developers and others.
If accepted by Wallace, the offer is contingent on passing a drug test and background check.
The hiring does not require City Council confirmation and, as discussed during the meeting, Council cannot directly fire Wallace, who serves at the will of the authority's board. Council does have power over the authority's budget and could accordingly change rules and laws, said Jason Gabriel, City assistant general counsel.
The authority also approved a job description for the CEO position, which incorporates ordinance code and board discussions of the role, for City Employee Services to create in its database.
According to the description, the CEO will report financial and necessary information to the board for it to make policy decisions and be responsible for the authority's day-to-day management of staff and budget.
The CEO also will develop and maintain "excellent" relationships with Downtown and community stakeholders, which include elected officials, property owners, developers, business operators, government agencies and community leaders.
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