Bill Type and Number: Ordinance 2007-281
Sponsor: The Council President at
the request of the Mayor:
Date of Introduction: March 13, 2007
Committee(s) of Reference: F;ECID
Date of Analysis: March 16, 2007
Type of Action: Appropriation; Criteria Approval
Bill Summary: This ordinance appropriates
$8,525,103.90 from various individual Jacksonville Economic Development
Commission/Project Pay-As-You-Go accounts for the purpose of consolidating all
such accounts in one Jacksonville Economic Development Commission/Project
Pay-As-You-Go Northwest Jacksonville Economic Development Trust Fund, to
facilitate the funding of, and accounting for, loaned or granted funds, as
initiated by B.T. 07-112. The bill
approves the adoption by the Housing & Neighborhoods Department of new
project evaluation criteria as guiding/minimum policy for the extension of loans
and grants from the JEDC-NWJEDTF.
Provision is made in the bill to carryover the funds to Fiscal Year
2007-2008.
Background Information: This legislation transfers
funds from various individual JEDC/Project Pay-As-You-Go accounts to
consolidate all funding in one account, thereby facilitating the funding of,
and accounting for loaned or granted funds.
The Housing & Neighborhoods Dept. has adopted and this bill would
approve new project evaluation criteria for the NWJEDTF as a guiding/minimum
policy for the extension of loans and grants.
Policy Impact: Housing & Neighborhoods
Department/Northwest
Fiscal Impact: The bill appropriates
$8,525,103.90
Analyst: