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Live Bar, Myth Nightclub, and Element Bistro + Bar are all hoping to receive major upgrades later in the future in Downtown, located at 327–333 E. Bay St.
The Downtown Investment Authority board voted 6-0 to approve a forgivable and deferred principal loan package to Nightlife Innovations Inc., according to Jacksonville Daily Record. Owner Jon Mroz hopes to use these funds to complete a $7.412 million building renovation project. While the DIA unanimously approved the $1.655 million, ownership needs the Jacksonville City Council to sign off on the deal. If approved, the city would pay 53% of the total $3.094 million construction cost and 22% of the total $7.412 million development cost.
There are multiple aspects to this $1.655 million award. The deal includes a $775,000 Code Compliance Renovations Forgivable Loan, a $549,000 Historic Preservation Restoration and Rehabilitation Forgivable Loan, and a $331,000 Downtown Preservation and Revitalization Program Deferred Principal Loan. If approved, Nightlife Innovations will have six months to start construction, and the project must be completed within 18 months. The building is 39.2% occupied, and ownership believes these city incentives could help them fill the space.
“(Jon Mroz) and his partners have a combined 80 years of experience in the restaurant and bar industry, and they specialize in management and marketing,” according to the staff report. “Jon has turned failing bars into sustainable businesses by incorporating his unique approach to training staff. Additionally, Jon owns several online marketing companies that he started from scratch and turned into a multi-million-dollar organization(s).”