Description
Title: ORD Making Certain Findings, & Apv & Auth the CEO of the DIA, or His Desig, to Execute a Redev Agrmt btwn the DIA & Historic Urban Core, LLC, to Support the Renovation & Rehab by Developer of a Historic Bldg Located at 38-44 W. Monroe St; Auth 3 Downtown Preservation & Revitalization Prog Loans, in an Aggregate Amt Not to Exceed $1,620,655.00, to the Developer in Connection with the Proj; Desig the DIA as Contract Monitor for the Agrmt; Prov for Oversight of the Proj by the DIA; Auth the Execution of All Docs Relating to the Above Agrmt & Transactions, & Auth Technical Changes to the Docs; Tim
Summary
Ordinance 2026-218, introduced by the Council President at the request of the Downtown Investment Authority (DIA), authorizes a redevelopment agreement with Historic Urban Core, LLC for the renovation of a historic building at 38-44 W. Monroe Street in Jacksonville. The project aims to rehabilitate the building, providing approximately 2,700 square feet of retail space and four residential units. The legislation allocates up to $1,620,655 in Downtown Preservation and Revitalization Program (DPRP) loans to support the project, with specific funding conditions that include forgivable loans for historic preservation and code compliance. This redevelopment is significant as it enhances the city's historic landscape, contributes to the tax base, and revitalizes downtown