Daily Record Financial News &
Thursday, July 23, 2015
Vol. 102, No. 179 • One Section
35¢ www.jaxdailyrecord.com
Deutsche Bank wants to add 475 jobs Seeks $5.5M in city, state incentives to expand payroll
By Karen Brune Mathis Managing Editor While no site was revealed, Deutsche Bank is asking for city and state incentives of almost $5.5 million to add 475 jobs in “multiple, to be determined locations” in Duval County. The new financial jobs would boost the company’s Jacksonville payroll to 2,124 employees by the end of 2017. Legislation calls for the city to
pay $1.1 million of the taxpayer incentives. The state would pay for the remaining almost $4.4 million. A city project summary says the financial services company, which leases the Meridian Business Park along Gate Parkway, expects to occupy a project site of 150,000 square feet of office space if the incentives are approved and the bank chooses Jacksonville for the expansion. The mayor’s office filed a resolution Wednesday to be intro-
duced to City Council on Tuesday. It wants to move quickly on the deal, asking for a two-reading passage as a fast-track bill. “Our excellent business climate and world-class workforce encourages businesses like Deutsche Bank to increase their investment in Jacksonville. We look forward to welcoming new neighbors to our city,” Mayor Lenny Curry said in a statement. Deutsche Bank promises to create the jobs by 2017, adding 75 by
the end of this year and 200 more each during the next two years. The company could start hiring before the deal is completed with the city and the state. The draft Development Agreement dated Wednesday said the company might need to start recruiting, interviewing, training or hiring employees so it can start operations as soon as possible after the project is approved. Deutsche Bank estimates it will invest $23 million in private capi-
What Landing could be
tal into the project, comprising $16.3 million in tenant improvements and $6.7 million in technology, infrastructure, furniture and fixtures. While the company didn’t specify in detail the types of jobs to be hired, it did say it would pay an average wage of $64,356, plus a benefits package of $18,020. That equals an anticipated annual payroll of $39.1 million for the new employees. Deutsche continued on Page A-4
DVI asks all owners to pay fair share List includes nonprofits, churches and apartments
By Max Marbut Staff Writer
Megan O’Hara of Urban Design Associates shows the possibilities for some of the outdoor spaces at the Jacksonville Landing to Silvia De Aruojo of The Art Center Cooperative. Downtown Investment Authority board member Doris Goldstein is in the back.
By David Chapman Staff Writer Sunil Joshi and his son, Sohan, stood in front of the brightly colored picture of Downtown, pointing to different parts along the waterfront. They were interested in the Jacksonville Landing, although it wasn’t the Landing people have come to know the past 30 years. This was a different vision, an altered concept. “I like this part,” said Sohan, 7, pointing to a riverfront building on the rendering that could house a restaurant. Standing in the Landing’s Blue Room
Public
on Wednesday evening, Sunil Joshi said he remembers what the Landing used to be like — energetic, bustling. It’s still an iconic local landmark, he said, but people just don’t think of it the same way. It needs new life, like Riverside and Brooklyn have had in recent years. It’s one of the reasons venue and Downtown officials for months have reviewed and planned for a new Landing. One that’s more open, a different model with more public access and new concepts. On Wednesday, the Joshis and others caught a glimpse of those preliminary visions during a public charrette. Landing continued on Page A-3
legal notices begin on page
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Seven-year-old Sohan Joshi discusses what he’d like to see in the plans with his father, Sunil.
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Photos by Fran Ruchalksi
Public gets a peek, offers input at possible future of Downtown venue
For the first time since the Downtown Business Improvement District was created, all property owners within the district are being asked to contribute their fair share to help fund Downtown Vision Inc. “It’s a good-faith effort to reach out to the exempt property owners,” said DVI CEO Jake Gordon. A letter was sent July 17 to 18 property owners. The parcels have a combined value of $134.2 million. The 1.1 mill contribution, if all submitted a payment to DVI, would total $147,658.54. The letter explains DVI’s role in providing the Ambassadors program, picking up litter, removing graffiti, deterring nuisance activity and serving as a clearinghouse of information for businesses, residents and visitors. Gordon said Tuesday at the organization’s board of directors meeting that asking exempt property owners to contribute is a new concept and Gordon he realizes their contribution would be voluntary. Since 2000 when City Council enacted the ordinance establishing the district and DVI as its administrator, commercial property owners each year are assessed an additional 1.1 mills on their ad valorem taxes to fund the nonprofit organization. It provides services within the 90-squareblock district which includes portions of the Northbank and Southbank. The assessment from commercial property owners in DVI’s 2014-15 budget is $684,405. Certain properties, primarily those owned by faith-based and nonprofits, were declared exempt from the additional assessment. The Strand apartment building on the Southbank is at the top of the list in terms of real estate value and potential contribution.
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DVI
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consecutive weekdays