As a native of Grand Rapids, I can tell you without question why ArtPrize has succeeded, where others have not: they had a VERY wealthy person with ties to the community (Amway heir) who put his money up front and got the instant recognition that it needed. Artists around the world became interested right away, with that kind of dough; businesses became interested with those kinds of crowds to feed and house. There was no rumor, no hoping, no maybe. It was, "This will be the first prize" and it was massive, as were the others in the top ten!
If Jacksonville is going to do anything to compete with that, it can't be done in a half-assed fashion. It takes major money, up front.