Daily Record Financial News &
Friday, January 12, 2018
Vol. 105, No. 040 • One Section
35¢ www.jaxdailyrecord.com
DIA OKs deal to buy Southbank property
Developer plans apartments, townhomes near San Marco
Board members voice concerns about plan for developing The District. By David Cawton Staff Writer The Downtown Investment Authority on Wednesday unanimously approved a deal to buy the Downtown Southbank property proposed to become The District. Elements of Jacksonville LLC, led by developer Peter Rummell and partner Michael Munz, plans to invest more than $433 million to develop the site into a healthinspired, mixed-use community. DIA’s 8-0 Rummell vo te came despite member concerns about how the 30-acre development will proceed and be funded. The deal calls for DIA to purchase the site of the former Southside Generating Station from JEA for $18.6 million. Elements, which has a contract to buy the property, would instead contribute that amount toward the estimated $46 million in
Photo by Karen Brune Mathis
Chance Partners LLC proposes to rezone 6.82 acres along Kings Avenue near San Marco owned by Southside Assembly of God for development of apartments, townhouses and possibly some single-family homes.
Chance Partners affiliate under contract to buy Kings Avenue site that’s now home to Southside Assembly of God church.
Developers of the proposed San Marco Promenade want to continue infilling the Kings Avenue and Philips Highway area with San Marco Crossing, another residential project. Chance Olevia LLC, led by Judd Bobilin
and Jeffrey Rosen, want to rezone about 6.82 acres owned by Southside Assembly of God Inc. at 2118 Kings Ave. The church uses a portion of the property and the remainder is vacant. Rosen said Thursday Chance Olevia LLC, an affiliate of Chance Partners LLC, is under contract to purchase the property. The site is bounded by Kings Avenue, the Florida East Coast Railway line, Olevia Street and Mitchell Avenue. Mathis
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DIA
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INSIDE
City Council President Anna Lopez Brosche forms a special council committee to review The District deal. Page 4
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Inspector general processes 103 complaints in 2016-17 Audit found potential savings of $90,000 in city cellphone use. By Max Marbut Associate Editor The Jacksonville Office of Inspector General in fiscal year 2016-17 received 103 complaints submitted by city and indepen-
dent authority employees and the public. The office closed 69 cases created from those and previous complaints and filed 12 reports comprising two audits, five contract oversight observations and five reports of findings following investigations. One of the audits — a study of the city’s cellphone inventory — identified potential savings of nearly $90,000 related to devic-
es with little or no activity, cost overages or terminated employees, of which about $41,000 was agreed to by city management. The five reports issued by the OIG Investigative Unit, based on issues raised about city and JEA employees, resulted in 22 recommendations for corrective action focused on improving outdated or nonexistent policies and proInspector
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Jacksonville Office of Inspector General annual budgets 2017-’18
$999,768
2016-’17
$937,767
2015-’16
$811,371 $206,319
2014-’15
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You should know ... Frank Wallmeyer Meet the entrepreneur who has given away hundreds of ice scrapers. Public
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