DUVAL COUNTY · LOCALlocal legislationIn Committee

Local Impact

Proposed Redevelopment Agreement for 119 Beaver St W

Original title: ORD Making Certain Findings & Apv & Auth the CEO of the DIA, or Her Desig, to Execute a Redev Agrmt Among the City, the DIA & 119 Beaver St W, LLC to Support the Construction of a Mixed Use Residential & Retail Dev, Including 259± Residential Units, & 37,000± sq ft of Ground Floor Leasable Retail Space, Including No Less Than 30,000 sq ft to Be Desig for Use by Publix Grocery Store or Other Similarly Well-Known Regional or National Grocer as Appvd by the DIA; Auth a 75%, 17-Yr Recaptured Enhanced Value (REV) Grant in the Max Amt Not to Exceed $21,412,000 in Connection with the Proj (REV Grant), Payable Thru the Downtown Northbank CRA Trust Fund; Apv & Auth a $28,250,000 Completion Grant to the Developer Payable by the City in 2 Installments Upon Completion of the Proj (Completion Grant), to Be Appropd by Subsequent Legislation; Desig the DIA as Contract Monitor for the Agrmts; 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 (Lavie) (Req of the DIA) 6/23/26 CO Introduced: NCSPHS, F Public Hearing Pursuant to Ch 166, F.S. & C.R. 3.601 - 7/28/26

July 20, 2026

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The Frame

What this does

The city is considering committing $49.6 million in public funds to support a private development project that will change the local housing and retail landscape in the downtown area.

Who is mentioned in the record

Potentially affected actors named in the source documents. Mention is not a position.

119 Beaver St W, LLC

The developer is the recipient of the proposed REV and completion grants and is bound by the terms of the redevelopment agreement.

Downtown Investment Authority

The agency is tasked with executing the agreement, monitoring the contract, and overseeing the project.

Downtown Northbank CRA Trust Fund

The fund is the designated source for the $21,412,000 REV grant payments.

What changed

Last recorded activity July 20, 2026.

What's next

Next step not available in the current record.

Summary

This ordinance authorizes a redevelopment agreement between the City, the Downtown Investment Authority (DIA), and 119 Beaver St W, LLC to build a mixed-use residential and retail project. The project includes 259 residential units and 37,000 square feet of retail space, with a requirement for a major grocery store. The city proposes providing up to $49.6 million in financial incentives through grants.

Key Facts

You don't have to trust us. Each fact below is taken straight from the official document - click any one to see the exact passage, highlighted in the original.

Frequently Asked Questions

What is a Recaptured Enhanced Value (REV) grant?

It is a financial incentive where a portion of the increased property tax value generated by a new development is returned to the developer over a set period.

Is the grocery store requirement mandatory?

Yes, the ordinance requires at least 30,000 square feet of the retail space to be used by a Publix or a similarly well-known grocer approved by the DIA.

When will the city pay the $28.25 million completion grant?

The grant is payable in two installments upon the completion of the project, subject to appropriation by subsequent legislation.

Why It Matters

The city is considering committing $49.6 million in public funds to support a private development project that will change the local housing and retail landscape in the downtown area.

News Coverage

No news coverage found yet. Articles are indexed twice daily.

Discoveries

Patterns POLISCOPE noticed across the record. These are observations to investigate, not conclusions.

financial connection100% confidence

Two-Tiered Incentive Structure

The project utilizes both a long-term tax-based incentive (REV grant) and a direct cash payment (completion grant) to support development.

119 Beaver St W, LLC Downtown Investment Authority

Connected Entities

organizationCity of Jacksonville“The municipal government providing the grants.”Map →

otherDowntown Northbank CRA Trust Fund“The funding source for the REV grant.”Map →

organizationDowntown Investment Authority“The agency responsible for executing the agreement and monitoring the project.”Map →

organization119 Beaver St W, LLC“The developer for the proposed project.”Map →

organizationPublix“The specified anchor tenant for the retail space.”Map →

Sources

Open source document

webapi.legistar.com

Analysis Score

0–100

Significance85
How much this matters to a regular citizen
Controversy40
Intensity of disagreement among stakeholders
Entertainment10
Compellingness for a non-policy-wonk reader
Buzz30
Current news / social attention level

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