Downtown Investment Authority

What Downtown Investment Authority does

The Downtown Investment Authority (DIA) is the Community Redevelopment Agency (CRA) for Downtown Jacksonville, Florida, and operates as a public agency under the City of Jacksonville. Founded in 2012 and headquartered in the Edward Ball Building in Jacksonville, DIA administers tax increment financing revenues generated within the Downtown Northbank and Southside CRA districts and deploys them as a portfolio of incentive programs to attract private investment, facilitate job creation, and increase residential density in the urban core. DIA is governed by a board and led by CEO Colin Tarbert, with a small operational staff supplemented by program managers handling CRA redevelopment, operations, and stormwater permitting.

DIA's product surface is not a technology platform but a codified set of incentive instruments organized into residential programs (Multi-Family REV Grant, Small-Scale Multi-Family Grant, Affordable Housing Support Loan, SHIP, SAIL, Strategic Housing Area Designation), commercial programs (Commercial Revitalization Program, Code Compliance Support, Sale-Leaseback Incentive, Core/Basic Retail Enhancement, FAB-REP, Waterfront Restaurant Program, Sidewalk Enhancement Grant, Targeted Hotel REV Grant), historic preservation programs (Storefront Facade Grant, Downtown Preservation & Revitalization Program and Trust Fund), and ancillary tools (Mobility Fee Credit, Water Quality Compensatory Credits, Dockless Mobility Program). Pricing takes three forms: recoverable grants tied to incremental ad-valorem taxes (up to 75% of city/county portion, maximum 20 years), unit-priced grants ($20–$100 per sq ft depending on program and tier), and forgivable loans amortized over compliance periods, with clawback provisions enforcing multi-year affordability and operational requirements.

DIA's go-to-market is sales-led and operated through direct engagement with developers, business owners, and institutional investors via the Invest Jax portal, the Downtown Development Map, public meetings, and partnerships with Downtown Vision Inc., the Jacksonville Housing Finance Authority, the City Office of Economic Development, and the Florida Housing Finance Corporation. Named counterparties include Related Group, Gateway Jax, JWB Real Estate Capital, Toll Brothers, Corner Lot, Atlas Restaurant Group, the University of Florida, Baptist Health, Four Seasons, and the Jacksonville Jaguars. Quantified outcomes include a $7 billion development pipeline, 9,228 downtown residents (97% above 2016), 96% residential occupancy, and a stated 2030 target of 8,140 multi-family units.

Name

Downtown Investment Authority

Legal name

Downtown Investment Authority

Website

https://dia.jacksonville.gov

Company type

Private

Founded year

2012

Operating status

Operating

Headcount range

11–50 employees

Short description

The Downtown Investment Authority is a City of Jacksonville redevelopment agency that administers Community Redevelopment Area tax increment financing to fund residential, commercial, and historic preservation incentive programs for developers, restaurants, retailers, and institutional investors in Downtown Jacksonville.

Ownership category

akta.pro rank

Product category

Economic Development Incentive Programs / Public Sector Redevelopment Services

NAICS

Administration of Housing Programs, Urban Planning, and Community Development (9251), Administration of Urban Planning and Community and Rural Development (92512), Public Administration (92), Credit Intermediation and Related Activities (522)

SIC

Real Estate Agents & Managers (For Others) (6531)

akta.pro primary industry

Results-Based Financing (RBF) & Performance-Based Grants (BPADAOAF)

akta.pro secondary industries

Affordable Rental & Multifamily Housing Finance Programs (LIHTC/Tax Credits/Subsidized Loans) (FSALAKAF), Commercial Real Estate Asset Management (BPAJAMAB)

Keywords

• Economic development incentives
• Community redevelopment agency
• Tax increment financing
• Downtown revitalization programs
• Public-private partnerships

Headquarters

HQ city

Jacksonville

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Infrastructure, Others

Revenue model

1. Tax Increment Financing (CRA): DIA is funded through Community Redevelopment Area (CRA) tax increment financing revenues. The agency uses these funds to provide incentives, grants, and forgivable loans to developers and businesses to stimulate downtown revitalization.

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels7 records

Core offering

DIA administers a portfolio of economic development incentive programs funded by CRA tax increment financing to attract investment, facilitate job creation, and increase residential density in Downtown Jacksonville. Core offerings include recoverable REV grants, forgivable loans, and per-square-foot grants for multi-family housing, retail, restaurants, and boutique hotels, alongside historic preservation, code compliance, sale-leaseback, mobility fee credit, and water quality compensatory credit programs. The agency works directly with developers, business owners, and investors through a structured application, public hearing, and board approval process.

Product overview

The Downtown Investment Authority (DIA) is a government economic development agency for Jacksonville, Florida. It is not a technology product company but rather manages a comprehensive portfolio of economic development incentive programs and services. The offering consists of: (1) Residential Incentive Programs including Multi-Family Housing REV Grant, Small-Scale Multi-Family Housing Grant, Affordable Housing Support Loan, and state programs (SHIP, SAIL); (2) Commercial Incentive Programs including Commercial Revitalization Program, Code Compliance Support, Sale-Leaseback Incentive, and Retail Enhancement Programs (Core, Basic, FAB-REP, Waterfront Restaurant, Sidewalk Enhancement); (3) Hotel Incentives including Targeted Hotel REV Grant; (4) Historic Preservation Programs including DPRP and the Downtown Historic Preservation & Revitalization Trust Fund; (5) Environmental Programs including Water Quality Compensatory Credits; and (6) Mobility Programs including Dockless Mobility. These programs collectively aim to attract investment, facilitate job creation, and increase residential density in Downtown Jacksonville through capital investment, planning, marketing, and public-private partnerships.

Differentiator

Problem solved

Functional benefit

Products and services

• Multi-Family Housing REV Grant Revenue (REV) grant that fills the financial gap between achievable rents/NOI and development costs for multi-family residential projects in Downtown Jacksonville CRA districts, recovering a portion of incremental ad-valorem taxes up to 75% over a maximum of 20 years. Designed for residential developers.
• Small-Scale Multi-Family Housing Grant Per-unit grant of $8,000-$18,000 to encourage 4-15 unit multi-family residential development in targeted Downtown districts (Cathedral/LaVilla, Central Core/Church, Southside) with bonuses for affordable units, enhanced design, retail space, and City-owned assets. Designed for small-scale residential developers.
• Affordable Housing Support Loan Outcome-based non-forgivable loan used in conjunction with the Jacksonville Housing Finance Authority Notice of Funding Availability (NOFA) and the Florida Housing Finance Corporation competitive process to support affordable housing, requiring a minimum 0.50X ROI over 20 years. Designed for affordable housing developers.
• State Housing Initiatives Partnership (SHIP) Florida state-funded program administered by DIA providing funds for affordable housing creation and preservation through emergency repairs, new construction, rehabilitation, down payment assistance, and construction financing, with income limits at 30%/80%/120% of area median income. Designed for affordable housing developers and low-income households.
• State Apartment Incentive Loan Program (SAIL) Florida state program administered by DIA providing low-interest mortgage loans (currently 3%, or 1% for farmworker) to developers building or substantially rehabilitating rental housing affordable to very-low-income households (50% or less AMI), with 15-year minimum affordability terms. Designed for affordable rental housing developers.
• Commercial Revitalization Program (CRP) Parking offset grants ranging from $2.88 to $14.40 per sq ft (capped at 50,000 sq ft and 100 parking spaces) for tenants signing new leases on existing downtown office space, with grant amount scaling by lease term length (36-120 months). Designed for office tenants and commercial tenants.
• Code Compliance Support Program Forgivable loan amortized over 3 years covering up to 50% of code compliance costs (maximum $100,000 per application) with eligibility for expedited City of Jacksonville Planning and Development review. Designed for property owners and business operators facing evolving Code Compliance requirements.
• Sale-Leaseback Incentive Alternative arrangement where DIA sells a build-to-suit facility to an investor-developer above construction cost, receives a bonus cash payment, and signs a 15-20 year fixed-rate market lease, with options to take cash, pass as grant/loan, or reduce rent. Designed for owner-occupants requiring built-to-suit facilities.
• Retail Enhancement Grant Program Umbrella program providing grants to improve interior and exterior of commercial buildings for retail, restaurant, and service business occupancy, encompassing the Core Retail Enhancement, Basic Retail Enhancement, FAB-REP, Waterfront Restaurant, and Sidewalk Enhancement sub-programs. Designed for retail and restaurant tenants.
• Core Retail Enhancement Program Per-square-foot grant of up to $30 per leased/occupied space (capped at 50% of total project construction costs, with 1:1 matching requirement) including a $5/sq ft boost for goods-selling businesses. Designed for retail tenants in Core Retail Enhancement Areas.
• Basic Retail Enhancement Program Per-square-foot grant of up to $20 per leased/occupied space (capped at 50% of total project construction costs with 1:1 matching requirement) for retail projects located outside Core Retail Enhancement Areas in Cathedral, Church, LaVilla and Brooklyn Districts. Designed for retail tenants.
• Food & Beverage Retail Enhancement Program (FAB-REP) Targeted per-square-foot grant program for food & beverage establishments in two designated districts (The Elbow and Hogan x Laura) with Type 1 eligible for up to $65/sq.ft. capped at $400K, Type 2 at $50/sq.ft. capped at $200K, and Type 3 at $40/sq.ft. capped at $100K, plus Historic Preservation Boost for local landmarks. Designed for restaurants and bars.
• Waterfront Restaurant Program Per-square-foot grant program to activate Downtown Riverfront with waterfront restaurants, offering Type 1 grants up to $75-$100/sq.ft. with caps of $500K-$750K for existing riverfront and new construction, including separate creekfront rates. Designed for waterfront restaurant operators.
• Sidewalk Enhancement Grant Program Reimbursement grant covering up to 80% of eligible outdoor dining improvement costs (up to $15,000 for FAB-REP recipients; up to $5,000 for standalone applicants) to encourage outdoor dining and placemaking. Designed for restaurants and bars seeking outdoor activation.
• Targeted Hotel REV Grant REV grant that recovers a portion of incremental ad-valorem taxes up to 75% over maximum 20 years for boutique hotels meeting specific criteria (25-150 keys, 4-star or above rating, full-service restaurant, unique design). Designed for boutique hotel developers and operators.
• Storefront Facade Grant Program Grant program for storefront and facade improvements to historic and commercial buildings in Downtown Jacksonville. Designed for property owners and commercial tenants.
• Downtown Preservation & Revitalization Program (DPRP) Program supporting preservation and revitalization of historic properties within Downtown, with incentives for historic restoration and adaptive reuse. Designed for property owners undertaking historic preservation.
• Downtown Historic Preservation & Revitalization Trust Fund Trust fund supporting historic preservation and revitalization efforts in Downtown Jacksonville through grant funding. Designed for property owners pursuing historic preservation projects.
• Water Quality Compensatory Credits Stormwater facility Water Quality Compensatory Credits (under St. Johns River Water Management District Permit No. 18269-1) available for purchase or as redevelopment agreement incentives to satisfy water quality requirements of future downtown development projects. Designed for downtown development projects needing water quality compliance.
• Mobility Fee Credit Credit program providing mobility fee credits for development projects in Downtown Jacksonville. Designed for developers seeking to offset municipal mobility fees.

Quantifiable outcome

• $7 billion development pipeline achieved
• +4 more outcomes

Named customers10 records

Segments6 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Seven partnerships are on record, tiered core and flagship.

• Atlas Restaurant GroupcoreStrategic or Co-development Partner · 20 May 2026Baltimore-based restaurant group in negotiations with DIA for $12 million waterfront dining concept at Riverfront Plaza. Would include 6,000 sq ft restaurant with waterfront raw bar, full-service dining room, and rooftop bar/lounge. First Northeast Florida location for company with 30+ concepts in Maryland and D.C. Design partners: Cronk Duch Architecture and Haskell.
• Downtown Vision Inc. (DVI)coreStrategic or Co-development Partner · 1 January 2025DVI is the Business Improvement District (BID) for Downtown Jacksonville that produces the annual State of Downtown Report. DIA CEO Colin Tarbert cited DVI CEO Jake Gordon's statements in the 2025 report showing $7 billion development pipeline and downtown momentum. DVI manages Downtown Ambassadors for service requests and coordinates downtown marketing and business recruitment.
• University of FloridaflagshipStrategic or Co-development Partner · 1 January 2025UF developing graduate campus at historic Jacksonville Terminal rail station in LaVilla. City approved $105 million in Duval County taxpayer funding and conveyance of five city-owned properties. UF has amassed $245 million in state funding and private donations. First building will be 8-story structure at corner of West Bay and Lee Streets with more than 200,000 square feet of research, academic, event, retail and administrative spaces.
• Related GroupflagshipStrategic or Co-development Partner · 1 January 2024Miami-based developer building Southbank Residences ($202.7 million, 395 apartments in 25-story tower), RiversEdge development ($693 million), and other Jacksonville projects. City Council approved $59 million in incentives ($39 million cash grants and nearly $20 million property tax rebates over 15 years). Groundbreaking ceremony May 20, 2026.
• Gateway JaxcoreStrategic or Co-development PartnerLocal development group behind Pearl Square project ($500 million first phase) and Ambassador Hotel redevelopment. Described as early mover investor that helped build confidence in downtown Jacksonville market along with JWB Real Estate Capital.
• City of JacksonvilleflagshipStrategic or Co-development PartnerDIA is a city agency operating under the City of Jacksonville. Coordinates with multiple city departments including Parks & Recreation (Jax Parks), Planning & Development, Public Works, and Office of Economic Development. Mayor Deegan's administration has infrastructure improvements and downtown growth as core objectives.
• Edgemoor Infrastructure & Real EstatecoreStrategic or Co-development PartnerDeveloper team selected by University of Florida for its graduate campus first building. Released updated rendering May 12, 2026 showing eight-story building at West Bay and Lee Streets in LaVilla.

Scale indicators8 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Cincinnati Center City Development Corp (3CDC): Nonprofit private developer partnered with the City of Cincinnati executing mixed-use, residential, and retail revitalization in downtown and Over-the-Rhine. Comparable public-private partnership delivery model with similar incentive tools.
• Houston Downtown Management District: Management district providing downtown revitalization services, developer coordination, and incentive programming for Houston's central business district. Comparable municipal mechanism with TIF-adjacent funding.
• Detroit Downtown Development Authority: Municipal DDA administering tax increment financing and incentive programs for downtown Detroit's redevelopment. Closest structural analog to DIA in administering CRAs and coordinating mixed-use development pipelines.
• Tampa Downtown Partnership: Florida downtown economic development and BID organization serving Tampa's urban core with similar mixed-use, multifamily, and retail activation programs. Same state regulatory environment and competing for resident/capital migration flows with DIA's Jacksonville footprint.
• Downtown Cleveland Inc. Nonprofit / public-private partnership managing Downtown Cleveland's revitalization, business improvement district services, and incentive coordination. Directly comparable to DIA in its role as a municipally-anchored downtown redevelopment entity stacking grants, TIF-style tools, and developer partnerships.
• Orlando Downtown Development Board: Downtown Orlando's CRA-equivalent economic development and BID organization administering incentive programs and development coordination. Closest Florida peer competing for the same developer and retail capital.

Broad incumbents

• Invest Atlanta: Municipal economic development authority for the City of Atlanta administering tax allocation district (TAD) financing, affordable housing programs, and incentive stacking. Same public-sector economic development model at larger scale than DIA.
• St. Louis Development Corporation: Municipal economic development corporation administering TIF and incentive programs for downtown St. Louis. Same public-sector redevelopment role as DIA.
• Pittsburgh Urban Redevelopment Authority: Municipal redevelopment authority administering TIF, housing, and commercial incentive programs across Pittsburgh's urban core. Same public-sector economic development model as DIA with a deeper affordable housing portfolio.
• Nashville Metropolitan Development & Housing Agency: Municipal agency administering TIF, CDBG, affordable housing, and downtown incentive programs in Nashville. Same combined redevelopment-and-housing-finance mandate as DIA.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Downtown Investment Authority