Dun & Bradstreet Headquarters and Two Other Agreements in View of City Council | Jax Daily Record | Jacksonville Daily Record

Jacksonville City Council is expected to vote on June 22 on three taxpayer-backed incentive deals totaling approximately $ 31.15 million, including a $ 21 million package to bring Dun & Bradstreet Corp. headquarters. in Jacksonville.

Another would authorize a set of repayable and deferred loans of $ 8.6 million for JWB Real Estate Capital LLC’s plans to renovate and restore the Florida Baptist Convention Building and the Old Federal Reserve Bank Building Downtown, while the third deal would approve a 10-year payback of $ 1.556 million. Enhanced Value Grant for Vista Brooklyn Apartments at 200 Riverside Ave.

Council committees unanimously approved the legislation this week.

Dun & Bradstreet

The Council’s finance committee voted 4-0 on June 15 to advance Order 2021-0346 which would authorize three grants to secure the move of the headquarters of the international financial services and data management company to Short Hills, New Jersey.

The rules committee voted 5-0 in favor of the deal.

On May 20, Dun & Bradstreet CEO Anthony Jabbour announced the company’s desire to relocate its headquarters and create 500 full-time jobs in Northeast Florida. Jabbour also runs Black Knight Inc., based in Jacksonville.

Details of the city’s negotiations with Dun & Bradstreet released a day after the announcement include:

• Subsidy of $ 12 million for the retention of the head office paid in increments of $ 600,000 over 20 years.

• Relocation grant of $ 6 million over three years.

• Industry target grant of $ 3 million to $ 6,000 per job paid in increments of $ 1,500 over four years.

The state commits to providing a high-impact performance incentive grant of $ 4 million, bringing the aid to $ 25 million.

After the vote, Kirk Wendland, executive director of the city’s economic development office, did not say whether Dun & Bradstreet was considering the Town Center Two office building in South Jacksonville, near downtown St. Johns, as the headquarters of Jacksonville.

The building has available space and it last sold for $ 64.52 million in 2020, near the planned $ 67 million real estate purchase by Dun & Bradstreet cited in the project summary filed with the legislation.

According to Wendland, Dun & Bradstreet has not formalized the location of its headquarters.

“To my knowledge, they haven’t actually made any purchases, so I guess they’re still weighing their options,” Wendland said.

Florida and Jacksonville taxpayers pay about one-third of Dun & Bradstreet’s estimated $ 75 million capital investment in the project, including the purchase price and $ 8 million in computers, furniture, fixtures and upgrades .

The bill requires that 100 of the 500 jobs created be filled by residents of Duval County.

The finance and rules committees unanimously approved an amendment on June 15 by council member Brenda Priestly Jackson that requires these local employees to have lived in Duval County for at least two years. These hires include students residing in the county.

Wendland said Dun & Bradstreet management agreed to the stipulation.

According to a May 20 memo from Wendland, the company was considering other US cities for the project and the incentives were a factor in Dun & Bradstreet’s decision.

City administrative director Brian Hughes said on May 24 that recruiting Dun & Bradstreet “was not a slam-dunk.”

Board member Randy DeFoor abstained in the Finance Committee vote on June 15 because her employer, Fidelity National Financial Inc., shares board members with Black Knight Inc., a related company. investment with Dun & Bradstreet.

JWB plans to redevelop the Baptist Convention building at 218 W. Church St.

JWB historical restoration

JWB plans 24 market-priced studio and one-bedroom apartments and 5,330 square feet of dining and retail space in the Baptist Convention building at 218 W. Church St.

The developer also wants to renovate the adjacent Federal Reserve building at 424 N. Hogan St. into two 4,500 square foot dining spaces on the first floor and 2,900 square feet in the basement.

The second and third floors of the property will each provide 9,000 square feet of event space.

The loans would come from the Downtown Investment Authority’s Downtown Preservation and Restoration Program and would include a historic restoration forgivable loan of $ 3,596,630; a code compliance forgivable loan of $ 3,299,827; and a deferred principal loan of $ 1,727,864.

JWB chairman Alex Sifakis told the JAX Chamber downtown board on May 21 that the company will launch the land within two months for an estimated $ 18.55 million renovation and restoration.

The council’s neighborhoods committee, community services, public health and safety voted 7-0 on June 14 to advance council incentives.

The finance committee voted 4-0 in favor, with board member Ron Salem abstaining due to a financial connection to JWB.

Vista Brooklyn at 200 Riverside Ave.

Brooklyn view

Apartment developer HP-BDG 200 Riverside LLC, comprising Hallmark Partners and Bristol Development Group, told DIA in January that it was seeking an additional REV grant of $ 1.55 million to mitigate the negative impact of the pandemic on retail spaces for rent in the apartment of 308 units.

HP-BDG is required to retain at least 50% of the 12,969 square feet of retail space on the ground floor to be eligible for the REV grant. Only space occupied by retailers will be eligible for the benefits of the REV subsidy, according to a legislative backgrounder filed with the bill.

NAI Hallmark is building 5,627 square feet of ground floor space to relocate its Southpoint area headquarters. It’s about 43% of the space.

Ordinance 2021-0311 would amend the city’s 2017 economic development agreement for the 10-story mid-rise apartment building that opened last week.

The council’s transport, energy and utilities committee approved the legislation 6-0 on June 14 and the finance committee voted 4-0 in favor on June 15.

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