JACKSONVILLE, Fla. – EverBank, a large employer in downtown Jacksonville, is planning to possibly move out of downtown less than a year after Citizens Property Insurance bailed on downtown for a building on the city’s Southside.
The Special Committee on the Future of Downtown is considering offering EverBank $9.8 million over 10 years to remain downtown.
The possible incentive will be discussed at Monday’s meeting -- at the same time a major debate is brewing over whether the city should continue providing incentives at all for business to relocate or remain downtown.
According to our news partner the Jacksonville Daily Record, the emerging conversation at City Hall focuses on whether to reduce or even end financial incentives that are being used now to attract redevelopment in downtown Jacksonville.
The Record reports that District 7 councilmember Jimmy Peluso, who represents the Downtown Northbank, believes that ending incentives could squash the momentum the city has built with new projects being launched and completed in recent years.
But some of Peluso’s Council colleagues think the yearslong incentives program had led to solid traction for downtown development and is no longer needed.
Council members are expected to debate the issue at Monday’s committee meeting after some committee members raised the idea of reining in incentives during a Jan. 12 meeting.
For a full breakdown of the arguments for and against reducing public funding for downtown redevelopment, go to JaxDailyRecord.com.