NORTHEAST REGION
TOTAL PROJECT $23.9 million
FCLF NMTC ALLOCATION $10 million
129,000 square feet
881 permanent jobs created or retained
345 temporary jobs created

In downtown Jacksonville the former Haydon Burns Library, a mid-century modernist building, stood vacant for a period of 8 years. The 129,000 square-foot building is located at the intersection of two key thoroughfares in downtown Jacksonville and near the gateway to downtown, giving it a very visible profile. As an anchor piece of real estate, the Haydon Burns Library project will be a catalyst for downtown reinvestment within the city core, which has been stagnant in recent years.

Renovation of the building, a $23.7 million project, created or retained an estimated 881 permanent and created 345 temporary construction jobs. Completed in 2015, the re-named Jessie Ball duPont Center provides increased efficiencies and savings for 12 to 18 area nonprofit organizations that will co-locate in the facility. Rent offered to these area nonprofits is kept low, calculated just to cover operational costs of the facility.

The New Markets Tax Credit (NMTC) Program is providing financing for the LEED-certified renovation of this landmark historically significant property. Built in 1965, Architect Taylor Hardwick intended it to be different from a "classic library." It was designed to be airy and open, with an interior featuring bright tile mosaics. The Jessie Ball duPont Fund, headquartered in Jacksonville, purchased the building in 2013 and relocated to this location.

Florida Community Loan Fund (FCLF) provided $10 million in federal NMTCs for the Center. This early commitment assisted the borrower in soliciting additional NMTC allocation from the New Markets Support Company, Consortium America, and Chase New Markets Corporation. The investor is JP Morgan Chase, and a portion of the project funding is from local public sources. This transaction was finalized in September 2014.

For more information, visit www.dupontcenter.org

View more photos of duPont Center on FCLF's Flickr Page.

Pictured above, the Haydon Burns Library building prior to renovation. 
Pictured below, a colorful tile mosaic on the interior of the historic building.