The Downtown Investment Authority canceled its meeting scheduled Wednesday because CEO Aundra Wallace has a health issue, according to board Chair Jim Bailey.
Citing privacy, Bailey declined to specify Wallace’s condition.
The main agenda item was the board’s initial discussion of the first draft of a development agreement with Elements Development of Jacksonville LLC for The District development on the Southbank.
Elements, led by Peter Rummell, is negotiating with JEA to buy the former Southside Generating Station site for construction of the mixed-use project that would include apartments and condominiums, restaurants and office space.
Bailey said Wallace is the lead drafter of the development agreement and “we can’t have the discussion without him.”
He said the meeting was tentatively rescheduled for the first week in January.
On Nov. 28, JEA’s board granted Elements a 90-day extension to close on the $18.5 million sale contract for the 30-acre parcel along the St. Johns River.
The board also agreed to allow Rummell to assign the contract to the city and the investment authority.
The parties have until March 30 to agree on terms and until July 16 to close the sale.
Bailey said the authority is “ready to move forward” with Elements and “we’re looking forward to discussing the terms.”