https://jaxcityc.legistar.com/Gateway.aspx?M=LD&From=RSS&ID=4387790&GUID=61A57CDC-5505-4166-B6BE-93E68FFC6609Legistar15https://jaxcityc.legistar.com/Gateway.aspx?M=LD&From=RSS&ID=4387790&GUID=61A57CDC-5505-4166-B6BE-93E68FFC660961A57CDC-5505-4166-B6BE-93E68FFC6609-2022-03-30-13-53-27Title: ORD Auth Execution of (1) Redev Agreemt btwn the City of Jax & Springfield Lofts, LLC & (2) Loan Documents & Related Documents to Support Redev by Developer an approx. 2.12± Acre Site at 1341 Pearl St, 235 W 3rd St & 205 W 3rd St in City of Jax Auth Redev Completion Grant in Amount of $1,000,000 to Developer Upon Substantial Completion of Proj to be Approp by Subsequent Legislation; Auth Recapture Enhanced Value (REV) Grant in Amt of $1,000,000 for Duration not to Exceed 10 yrs; Auth Development Loan in Amount of $1,000,000 w/Term of 20 Yrs in Connection w/Project to be Approp by Subsequent Legislation; Designating OED as Contract Monitor for Agreemt & Related Agreemts; City Oversight of Project by Dept of Public Works & OED; Auth Execution of all Relating to Above Agreemts & Transactions & Auth Technical Changes to the Documents; Prov Deadline for Developer to Execute Agreemts After They are Delivered to Developer; Waiver of that Portion of Public Investment Policy Adopted by Ord 2016-382-E, as Amended which Limits REV Grants to No More than 50% of Tax Increment for Up to 10 Yrs & Wed, 30 Mar 2022 13:53:27 GMT