Common Contracts

Introduced by Council Member Boyer and amended by the Finance Committee: ORDINANCE 2018-313-E

Disbursement Agreement • October 20th, 2020

• Contract Type
  Disbursement Agreement
• Filed
  October 20th, 2020

AN ORDINANCE MAKING CERTAIN FINDINGS AND AUTHORIZING THE MAYOR, OR HIS DESIGNEE, TO EXECUTE: (1) A REDEVELOPMENT AGREEMENT (“REDEVELOPMENT AGREEMENT”) AMONG THE CITY OF JACKSONVILLE (“CITY”), DOWNTOWN INVESTMENT AUTHORITY (“DIA”), ELEMENTS DEVELOPMENT OF JACKSONVILLE, LLC (“DEVELOPER”) AND A TO BE CREATED COMMUNITY DEVELOPMENT DISTRICT (“CDD”), WHICH REDEVELOPMENT AGREEMENT PROVIDES FOR THE DESIGN, CONSTRUCTION, OWNERSHIP, USE, MANAGEMENT, OPERATIONS, COSTS, AND FINANCING OF THE SOUTHSIDE COMMUNITY REDEVELOPMENT AREA (“CRA”) INFRASTRUCTURE IMPROVEMENTS TO BE OWNED BY THE CITY, IN CONJUNCTION WITH A CDD INFRASTRUCTURE IMPROVEMENTS PROJECT TO BE UNDERTAKEN BY THE CDD TO SUPPORT THE VERTICAL DEVELOPMENT ON THE PROPERTY KNOWN GENERALLY AS THE JEA SOUTHSIDE GENERATION PARCEL that developer intends to purchase; (2) AN INTERLOCAL AGREEMENT (“INTERLOCAL AGREEMENT”) BETWEEN THE DIA AND THE CDD TO GOVERN THE RESPECTIVE OBLIGATIONS OF THE CDD AND DIA IN CONNECTION WITH THE CRA INFRASTRUCTURE IMPR