The Downtown Investment Authority (DIA) board has come to terms with Colin Tarbert, agreeing on a contract that places him at the helm of the agency with an annual compensation of $297,000. According to the Jacksonville Daily Record, the unanimous vote on June 18th sealed the three-year deal for Tarbert, who is taking over from the retiring CEO Lori Boyer in August 2025.
Tarbert's salary reflects a significant increase from Boyer's $221,550, a choice the DIA characterized as a forward-looking move to ensure the continuance of Downtown Jacksonville's development trajectory. The DIA board evidently fast-tracked the negotiation process after Tarbert was identified as a leading candidate in a field whittled down from 173 applications to three finalists by Jorgenson Pace, a recruiting firm based in Greensboro, North Carolina, as reported by The Jacksonville.
In an interlude to Tarbert's arrival, the board has designated current Director of Operations Guy Parola as interim CEO. Tarbert, who previously orchestrated development strategies as the president and CEO of the Baltimore Development Corp., is expected to build upon an ongoing community revitalization plan that spans the St. Johns River as part of his new role in Jacksonville.
During Boyer’s final board meeting as CEO, she was lauded for her dedicated service and accomplishments, with board member John Hirabayashi commending her exhaustive knowledge and integrity. "But most of all, the way you've kept the integrity in the process and adhered to the CRA and the plans for the city, always trying to do the right thing," Hirabayashi said, a sentiment echoed in interviews obtained by First Coast News. Boyer's leadership, which board members deem invaluable, has been recognized as setting Jacksonville on a "critical path" with undeniable momentum for future growth and success.
With his impending CEO role in Jacksonville, and a track record of about 20 years in Baltimore's economic and neighborhood development, Tarbert steps down from the Baltimore Development Corp., effective last Friday. His extensive experience includes serving in the mayor's office as deputy chief of strategic alliances and deputy mayor, experiences he is expected to leverage to further the DIA's mission in downtown Jacksonville.
