JACKSONVILLE, Fla. — Millions of dollars for the Eastside, tied to the Community Benefits Agreement, are included in the proposed City of Jacksonville budget.
However, City Council members are still working out the details on how it will be distributed and managed.
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The total investment between the city and the Jacksonville Jaguars in Jacksonville’s Eastside will equal $115 million over the next 30 years.
“We have $4 million on the table right now. The problem is that we have no way to distribute those funds,” Chair Raul Arias (R-District 11) said.
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Arias is leading the special committee tasked with working out the details on how CBA dollars will be awarded.
On Wednesday, the committee agreed to put oversight and distribution of the CBA dollars solely in the hands of the Heros Inc board of directors.
That board will consist of five members representing each neighborhood in the Eastside, two members appointed by City Council, one appointee of the mayor, and one Jaguars employee.
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The city share of the CBA must be spent on affordable and workforce housing, economic development, or homelessness.
“I just want to get a good feeling and sense of how these dollars can be spent in a way that make sure that everyone gets something out of it, while also making sure the taxpayer doesn’t get fleeced,” Councilmember Jimmy Peluso (D-District 7) said.
Peluso, who represents the Eastside, said he wants to make sure there’s flexibility within those categories, and also opportunities for direct assistance.
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“Especially when it comes to older residents that feel like they might get priced out of the neighborhood over the next couple of years,” Peluso said.
Other questions, including how much of the annual city investment can be used for administrative costs and how much independence the board will have to award grants without having to go to Council for approval, are still up for discussion.
Arias said those details need to be worked out soon, as the first round of cash is set to become available in just a little over a month.
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“Once we vote on the budget, come October 1, the money is available. They can get funded so we can actually put those dollars to work in the community of the Eastside,” Arias said.
The special committee will meet again on October 8.
In that meeting, Arias said he hopes to get the CBA legislation finalized, so it can be passed in the following meeting of the full City Council.
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