The Downtown Investment Authority's Future

[Ken_FSU]

To me seems like BS, but here are a few ideas:

- Projecting the supply constraints (aka cost increases) on steel & concrete - apparently there are some heavy signals that concrete in particular is going to increase by double digits in 2023. Very large projects buyout concrete or steel typically long before it reaches the site. Maybe they see this changing drastically.
- They think their SR & LR debt (both) are going to be severely impacted by interest rates (deals of this magnitude with public funds can negotiate their entire debt as a package).
- There are maybe economies with 4S? (I doubt this though)

Beyond those three things I really can't fathom a jump in costs to that degree. To be honest, you need all of these factors working against you to make a difference that wide. Plus, economist think that rates will drop by 2025. So I'm not sure my logic makes sense in reality. Hence why I'd bet it's a bluff. Maybe its partially internal expenses (paying consultants/firms to seek alternatives for example.)

Great info on these last couple of posts.

Appreciate it!!!

[Jax_Developer]

Of course! Let's hope they don't siphon another $100M lol....

[marcuscnelson]

Some friends and I were happening to read Missoula, Montana's downtown master plan, and this section in particular stood out for reasons I hope are obvious:

[thelakelander]

New technologies making parking garage obsolete is nothing more than a pipe dream for people in that line of business. Good to see their plan point out the reality.

[fsu813]

New technologies making parking garage obsolete is nothing more than a pipe dream for people in that line of business. Good to see their plan point out the reality.

I don't know, Lake.

I think parking garages will be passe by 2178, and we'll be ahead of the game if we act now.

[jaxlongtimer]

^ I hear that JTA has decided to move on from AV's to flying cars a la the Jetsons so parking garages are sure to be passé by this time next year.  Boeing will be exiting the commercial and military plane and space business to build all the flying cars JTA plans to order.  The future is high rise apartments with balconies that serve as landing pads.  Heights Unknown is sure to be pleased with our new skyline. TOD on steroids.  If anyone can do it, it is technology leading-the-world JTA!

[BridgeTroll]

[jaxlongtimer]

^ I will meet your image and raise you one  :

[jaxjags]

Blade Runner

[Florida Power And Light]

Downtown investment Authority and Waterways Commission good candidates for Sunset.
( Fun to review Jax history Re the concept  and implementation, function of “ Authority “ . As in JTA et Al. City Legal discourse.
“ Commission”. Same.

[marcuscnelson]

Thought I'd re-up this given the recent news with transition committee recommendations for development policy.

https://www.jaxdailyrecord.com/news/2023/sep/25/committee-fewer-steps-adaptability-in-permitting-downtown-project-approvals/

[thelakelander]

^What do you think about the transition committee's recommendations?

[Skybox111]

Fully fund riverfront parks.

• Connect riverfront parks and public spaces.

• Enhance maintenance for landscaping and physical assets through funding and capacity.

• Incentivize transformational projects.

• Contract directly with design firms to keep the project moving. If a change is needed, it can be made immediately versus waiting six months on the city process.

• (Acknowledge the) importance of public/private partnerships.

• Vacant Downtown parcels are needed for the Hogans Creek project. The city does not have the capacity for land acquisition both from a human resource perspective and funding.

• It’s important that the city not sell, trade or give away any parcels near the creek until the design is more advanced.

• Every city department should understand the scope of the trade-off in the creek restoration projects. 

For Downtown, Randolph said “higher interest rates are making it difficult for developers to move forward with projects without a greater share of public incentives, than usual; the development and maintenance of downtown infrastructure, including parks and other public spaces, is important to developers and business owners that are investing in downtown; and the myriad permitting and regulatory processes for programming, development and available incentives, needs to be simplified and better advertised.”

Now wouldn’t that contradict the fully fund riverfront parks when we have hight interest rates difficulty maintaining infrastructure. You can permit this and that doesn’t mean the infrastructure is going to be maintained if they can’t get the materials in fast and workers working on the projects  They also talk about parcels near hogans creek not being sold off until a full plan is in order would that be a problem for gateway or unf if they decide on that area.

[fsu813]

^What do you think about the transition committee's recommendations?

Sounds like a number of problems could be addressed by higher and keeping staff. That was a familiar refrain during my transition committee experience. Jax has grown quite bit in the past decade, city staff has not.

[marcuscnelson]

^What do you think about the transition committee's recommendations?

Like FSU says, a lot of these just mean hire and retain more city staff to do things that need to be done. City Council should support that but I'm not totally sure they've demonstrated the will to.

The changes to simplify applications and staff approvals and workshops seem like good steps that will be helpful for smaller developers and just getting things to permits faster. If we've already set development rules through legislation and codes and guidelines, it's unnecessary additional process to then require more hearings and discretionary additions beyond that for things that meet what's on paper. If you want the outcomes to be different from what's outlined, change the outline.

Investment seems like an obvious request, no surprises there. Question of course is how that investment is made.

The Specialty Center (essentially an open container zone for drinks purchased from riverfront bars) is a fun idea, the Sip & Strolls seem like a success and more activity on a more regular basis will be great as the area fills with residents and visitors.

One point here proposes contracting directly with design firms to keep projects moving, and a further step that'd be nice to see (although it requires more resources so it might be warranted for later away) is how some cities have even gone so far as to create blueprints for things like infill housing and mixed use that meet the requirements. That way, if a developer wants and has the land, they can simply take one of those blueprints, get permits (because the discretionary part has already happened) and get to work.

I don't understand why there needs to be an acknowledgement of the "importance of public/private partnerships."

Bunch of specifics about a future Hogan's Creek restoration. Would be good to avoid letting any flood risk parcels go back on the market in the future.

After that things get a little confusing and perhaps contradictory. I'm curious if the report splits any of this stuff by responsible party (DIA, DVI, Council, Planning Dept, etc) or if it's just formatted like this. In general the point seems to be "make the place nice, deal with problems, and get things built," which I broadly agree with.