JACKSONVILLE, Fla. – The City of Jacksonville announced a new partnership with Pinnacle Bank to help Arlington business owners comply with the area’s revitalization plan, known as the Renew Arlington Zoning Overlay.
The city said in a release Tuesday that Pinnacle Financial Partners will be providing short-term financing to commercial property owners within the boundaries of the Renew Arlington (RA) Community Redevelopment Area to help them make the upgrades required in the plan.
Recommended Videos
On June 25, 2019, the city council approved the Renew Arlington Zoning Overlay, mandating that all commercial properties within the Renew Arlington (RA) Community Redevelopment Area (CRA) comply with the standards regarding fending signage and landscape/landscape buffers by April 28, 2025.
According to the city, the goal of the plan is to enhance the CRA’s aesthetics and appearance while improving property values. It’s also meant to promote an environment that’s visually appealing and safe for vehicular, bicycle and pedestrian traffic.
RELATED | Plan to revitalize Arlington moves forward in City Council | The official complete renew Arlington master plan
Back in 2019, some residents and Jacksonville business owners expressed their concerns to the city council after learning that they would be responsible for paying for the upgrades, arguing that it would bring added hardships.
“Simply to the fact, it’s a small business killer,” Robert Talebli, owner of Robert’s Seafood on Merrill Road, said in 2019.
However, Renew Arlington advisory board members said residents and businesses were notified well in advance of the proposed ordinance and pointed to the success of similar programs in other neighborhoods.
Below is a map of the Arlington CRA boundary
The Renew Arlington (RA) Mandatory Compliance Grant Program (MCGP) was created on Jan. 28, 2020, to help reduce blight and attract investment, create positive momentum in the area, and offset the cost to property owners related to coming into compliance with the Overlay.
Officials said property owners must enter into a project agreement with the city before starting the work associated with the project. Once the project is complete, the applicant then is required to provide documentation to the city, including proof of payment, and is then reimbursed 100% by the city. Most applicants must secure financing to fund the project costs.
With just over five months left to comply, the city said many property owners have struggled to secure short-term financing due to perceived risk factors and the availability of short-term cash.
For that reason, the city said it hopes this new partnership with Pinnacle Bank will help those business owners who still need to work on the upgrades required to comply with the Overlay plan. This partnership will create accessible funding for Arlington property owners, according to the city.
“This program is a win-win for the city of Jacksonville and Arlington business owners,” said Lauren Huynh, area manager at Pinnacle. “It’s an honor to play a role in renewing such an important and historic community. This shows the city’s commitment to improving quality of life for everyone, which is a mission Pinnacle shares whole heartedly. We’re ready to help small business owners in this area with Pinnacle’s promise of distinctive service and effective advice.”
MORE | $27 million investment by JU to ‘Renew Arlington’
Officials said more than 200 applications are in various stages of review by the city.
For more information about the MCGP please contact Karen Nasrallah with the Office of Economic Development at renewarlingtongrant@coj.net or (904) 255-5449.