JCDA staff: layered financing, opportunity‑zone equity and tax credits will be needed; no JCDA commitment yet

Joshua Cook, JCDA program manager, presented an exploratory framework for financing downtown redevelopment while stressing that JCDA staff were not presenting a formal board commitment. Cook listed potential tools for a layered capital stack — federal and state grants and loans, congressionally directed spending, opportunity‑zone investment, New Markets Tax Credits, historic tax credits, philanthropic and mission capital, and tax increment mechanisms — and said the site’s opportunity‑zone designation strengthens the prospect for reinvestment from local capital gains investors.

Cook emphasized that, before JCDA staff could recommend a public role or financial commitment, the county would need a defined operating model, realistic tenant mix and a derisking component (grants or public investment) that makes private equity willing to participate. He recommended a structured 'opportunity zone charrette' or partnership process to align stakeholders, assemble a capital stack and test feasibility. "No decisions of the JCDA are being described tonight," he said, "staff is prepared to evaluate opportunities further with our incoming board."