JACKSONVILLE, Fla — Action News Jax dug into the history of the RISE Doro building and the company that owns the still-burning structure that caught fire Sunday night.
>>> STREAM ACTION NEWS JAX LIVE <<<
The Doro Commercial Building was first built in 1903 to 1904. It was the last surviving commercial storefront building from the 19th-century suburb of East Jacksonville.
The building was home to the George Doro Fixture Company, continuously from 1919 to 2016.
Read: Dozens more bats found and removed from UGA dorm building
The company that owns the Doro, RISE Real Estate, was granted a $6 million tax break in late 2020. It’s a rebate on any property taxes the apartments would have generated.
Mayor Donna Deegan said the city isn’t out any money.
“That was a REV grant of about $6.5 million that doesn’t get paid until the project is completed. It has not been paid out yet and obviously won’t be now until the building is completed,” Deegan said.
Action News Jax spoke to a member of the city council, who said that depending on how much money the developer collects from the insurance company, the city may have to sign off on an even larger tax break in the future if the apartments are rebuilt.
Read: RISE Doro apartment complex structure deemed unsafe after fire, crews monitoring for flare-ups
[SIGN UP: Action News Jax Daily Headlines Newsletter]
Click here to download the free Action News Jax news and weather apps, click here to download the Action News Jax Now app for your smart TV and click here to stream Action News Jax live.
