Mayor Brown signing his $11 million reinvestment plan into lawMayor Alvin Brown’s $11 million reinvestment plan (2013-89) to promote Downtown revitalization and citywide job growth was signed into law on Wednesday, March 20, 2013. 

The plan calls for $9 million to leverage private dollars for Downtown improvement, and an additional $2 million is slated for citywide economic expansion. The investments result from a successful round of debt refinancing at the direction of the Brown Administration. The savings provide an opportunity for Jacksonville to invest in its future without taking on additional debt, using reserves or impacting the city’s solid AA+ bond rating. The refinancing provides $11 million for the 2012-13 fiscal year with additional savings in future years. 

“The reinvestment strategy represents a tremendous chance for Jacksonville to become more vibrant and competitive at a time when cities all over America are competing for an edge,” said Mayor Brown. “The legislation I’m signing today empowers us – with careful planning, accountability and City Council oversight – to advance our city.”

Mayor Brown has made revitalizing Downtown a strategic priority. His initiatives to improve the city’s economic development activities and create the Downtown Investment Authority won strong approval from Council, the Legislature and Gov. Rick Scott. A recent survey of residents by the JAX2025 initiative to create a community vision for Jacksonville’s future found that their top issue is improving Downtown Jacksonville.