Sec. 106.445. - Vote required to fund initiatives through certain economic development agreement incentives.

Section 180.104 , Ordinance Code, provides that the City shall set aside funds equal to one percent of the economic development agreement incentives approved during each calendar year for projects located outside an established Community Redevelopment Area to fund the Jacksonville Upward Mobility Program ("JUMP"). In addition, Section 111.920 , Ordinance Code, provides that the City shall set aside funds equal to four percent of the economic development agreement incentives approved during each calendar year for projects located outside an established Community Redevelopment Area for deposit in the Homelessness Initiatives Special Revenue Fund. It is the Council's intent to limit the funding of City initiatives in this manner to a total of five percent (one percent for JUMP and four percent for the Homelessness Initiatives Special Revenue Fund) as outlined above. Any additional requests to set aside funds equal to any portion of the economic development agreement incentives approved during a calendar year for projects located outside established Community Redevelopment Areas shall require an affirmative vote of 14 Council Members to approve. A waiver of this provision shall also require an affirmative vote of 14 Council Members. (Ord. 2024-112-E , § 1)