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Council approves $175,000 for Northwest Economic Fund project despite ROI concerns; amendment passes 6–1
Summary
Council approved an amended $175,000 appropriation to support three businesses (including Baker Sports) moving into a former Fanatics building in northwest Jacksonville, with debate over lowering the public‑investment ROI below 1.0 and supporters citing local job creation and reuse of an idle facility.
The Finance Committee on Aug. 19 approved an amendment increasing a Northwest Jacksonville Economic Development Fund award to $175,000 for a project occupying the former Fanatics building that will house three businesses (Baker Sports, Pro Choice and Burbank). Councilwoman Clark Murray offered the amendment increasing the funding from $100,000 to $175,000; the amendment passed and the bill (20250538) passed on a ballot vote, 6–1.
Council debate focused on the public‑investment ROI requirement. OED’s Ed Randolph said the project’s ROI was 1.14 under the original $100,000 award and warned that adding $75,000 could push the ROI below 1.0; council supporters said the project reuses a vacant building in an economically distressed area, retains former Fanatics employees and could reach about 225 total jobs by 2026. Opponents raised concerns about setting precedent for sub‑1.0 ROI appropriations and about perceived political connections.
Council Member Diamond said he opposed the bill and amendment and argued taxpayer funds should not be directed to politically connected entities; he said, “There are probably a thousand small businesses in Jacksonville who would love a $150,000 to help them with their business...but because one is politically connected...they get free money from the taxpayers.”
OED and staff told the committee that adopting the amendment would require a revised budget transfer (BT), updated exhibit and a revised economic‑development agreement to reflect the changed appropriation; staff also confirmed the public‑investment policy allows program‑level goals for a 1:1 ROI but that some programs use goals rather than absolute requirements.
What happens next: staff will file revised BT/exhibit and update the economic‑development agreement to reflect the $175,000 appropriation and the committee will track use of the Northwest Trust Fund as remaining balance falls to roughly $825,000 minus pending allocations.
