JACKSONVILLE, Fla. — The Downtown Historic Preservation Fund has dwindled to about $800,000 and City Council member Matt Carlucci has proposed a bill to add $1.5 million to the fund.
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The fund has been used to help restore several downtown building; $500,000 went to restore the Cowford Chophouse, a swanky upscale restaurant that's now a downtown favorite.
"I think we can miss some opportunities because when there's no money in the trust fund, it, to me, doesn't send out a strong policy message about restoration of downtown buildings." Carlucci said.
He believes having money in the fund would attract to developers looking to invest.
Developers who restore buildings to historic standards can get money from the fund when their projects are complete.
The Downtown Investment Authority, however, said having the money in the fund could actually be problematic for development.
"The Historic Preservation and Revitalization Trust Fund is a critically important resource in the facilitation of restoration and renovation of historic Downtown structures, and we appreciate the continued support of City Council and the Mayor's Office for this initiative. As CEO of the Downtown Investment Authority, I continue to support funding of all worthy projects on an as-needed basis and am concerned that a fixed allocation could deter applicants, or force us to reject applications that exceed the budget available. I am currently reviewing a request for an HPTF grant far in excess of the pending appropriation and would not want this bill to adversely impact that project or others in the pipeline." DIA CEO Lori Boyer said.
Without the fund, instead of having a fixed amount in the preservation fund, projects that involve historic buildings would go before the City Council for approval.
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