JACKSONVILLE, Fla. – The Eastside community of Jacksonville is coming together to discuss the future of their neighborhood, as a significant financial boost is on the horizon.
It comes after the $1.4 billion “Stadium of the Future” deal went through, which will keep the Jaguars in the River City.
With that deal came a $115 million investment in the Eastside. Residents want to know how the funds will be distributed and who will decide.
Council Members Jimmy Peluso and Arias met with Eastside residents at In the Word International Church to discuss the next steps.
“I’ve been living out east my whole life,” said one attendee. Something many in the room share in common.
RELATED: Eastside residents make case for City Council to invest CBA money in their community
The first wave of funding will come from the city of Jacksonville.
The city will contribute $40 million over the next several years, starting with the next budget cycle. That timeline means a plan needs to be in place for what to put that money towards.
The Together Eastside Coalition, led by CEO Travis Williams, is advocating for a 501c3 structure. Their proposal includes the formation of a seven-member board to oversee the allocation of funds. The suggested board composition includes:
- Three Eastside residents
- One member each appointed by the city council, mayor, and Jaguars
- One consensus pick agreed upon by all parties
The area will also receive $75 million from the Jaguars over 30 years.
The Coalition outlined three primary areas of focus for the funding:
- Economic Development – Supporting local businesses and entrepreneurs
- Affordable Housing – Ensuring long-term residents can maintain and improve their homes
- Workforce Development – Creating job opportunities and skill-building programs
“I think these investments will help the community long term,” Williams said.
Much of the public involvement in this meeting focused on helping those with roots in the community.
Something Peluso said is critical to this plan moving forward.
“It’s going to make sure it goes to legacy business members here, legacy homeowners here,” Peluso said. “To make sure they’re able to rebuild their homes in the community.”
Before any funds are disbursed, the plan must go through city hall for approval. Arias said that he will chair a special committee dedicated to shaping the CAB. He took notes as members of the community shared their thoughts.
“I’m not going to guarantee you anything, but I’ll guarantee you this $40 million is going to the Eastside,” Arias said.
The committee’s responsibilities will include defining the decision-making structure, budget allocation process and city council oversight. With the ambitious scale of this initiative, Peluso acknowledged the long road ahead.
“Problem is, once we break the tape of this marathon, we run another seven marathons,” he said. “We’re going to have 30 years of work to do and we’re trying to create the framework now with this new board and this new organization to make sure that we have that sustainability.”
The special committee for the CBA is expected to start meeting in May, with the goal of finalizing the framework by June. As the project progresses, residents will continue to have opportunities to provide input and stay informed.
Organizers of Monday’s town hall said you can sign up for updates at www.outeastjax.com.
