April 20, 2021
JWB Real Estate Capital LLC’s request for $8.62 million in city-backed loans to renovate and restore the historic Florida Baptist Convention and Old Federal Reserve Bank buildings Downtown is headed to City Council.
The Mayor’s Budget Review Committee voted 6-0 on April 12 to file legislation that would authorize the forgivable and deferred loan package.
The Downtown Investment Authority board approved the deal Jan. 20 for what the developer said will be an $18.55 million project.
If approved by Council, the DIA would use its Downtown Preservation and Restoration Program to award JWB incentives comprising $3,596,630 in forgivable loans; $3,299,827 in Code Compliance Forgivable Loans; and deferred Principal Loans totaling $1,727,864, according to city documents.