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Downtown Investment Authority Rejects Plan to Keep EverBank in Downtown Jacksonville
The authority voted 7-2 against recommending a $10 million grant to help offset EverBank's security and parking costs.
Published on Feb. 23, 2026
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The Downtown Investment Authority (DIA) in Jacksonville, Florida voted 7-2 against recommending a $10 million grant over 10 years to help EverBank offset the costs of security and parking at its downtown corporate office, which employs 800 people. The DIA cited concerns over the high downtown vacancy rate, currently over 30%, and a preference to use resources to continue building up downtown rather than subsidizing an existing business.
Why it matters
EverBank's potential departure from its downtown headquarters would further exacerbate the high downtown vacancy rate, which is already significantly higher than other major Florida cities. The DIA's decision not to recommend the grant highlights the challenge of retaining major employers in the city's urban core.
The details
EverBank spokesperson Mark Gordon presented a proposal to the DIA to receive a $10 million grant over 10 years to help cover the costs of security and parking at its downtown office. Gordon argued that these costs would be lower if EverBank moved to the suburbs. However, the DIA ultimately voted against recommending the grant, with some board members stating they would rather use resources to continue building up downtown rather than subsidizing an existing business.
- The DIA voted on the proposal during its meeting on February 19, 2026.
- EverBank announced plans last year to potentially leave its downtown tower.
The players
Downtown Investment Authority (DIA)
The Downtown Investment Authority is the agency responsible for overseeing development and revitalization efforts in downtown Jacksonville, Florida.
EverBank
EverBank is a financial services company that maintains its corporate headquarters in downtown Jacksonville, employing 800 people.
Mark Gordon
The spokesperson for EverBank who presented the proposal to the DIA.
What they’re saying
“Our strong preference would be to remain downtown.”
— Mark Gordon, EverBank Spokesperson
“The cost of losing them is also high. I'm struggling with it, but I think, at the end of the day, we need EverBank to be in downtown.”
— Sondra Fetner, DIA Board Member
“We're paying someone to tolerate being in downtown, which instead, they should want to be here. They should see the value in downtown.”
— Patrick Krechowski, DIA Board Chair
“I would rather use our resources, I think, to continue to build, rather than subsidize something that is already there.”
— Carrie Bailey, DIA Board Member
What’s next
The decision by the DIA is only a recommendation, and the final decision will now go to the Jacksonville City Council to determine whether to approve the $10 million grant for EverBank.
The takeaway
The DIA's rejection of the grant proposal highlights the difficult balance between retaining major employers in the urban core and investing limited resources into continued downtown revitalization efforts. The future of EverBank's presence in downtown Jacksonville remains uncertain as the city council weighs the tradeoffs.
