Description
Title: RESO Upon an Acknowledgement of Due Auth & the Making of Findings, Apv the Issuance by the JHFA of Its Multifamily Housing Revenue Bonds, in 1 or More Series, in an Aggregate Principal Amt Not to Exceed $16,625,000 for the Purpose of Financing All or a Portion of the Costs Related to the Acquisition & Construction of a Scattered Site Multifamily Residential Housing Facility for Persons of Low, Middle or Moderate Income, to Be Located at 0 Tracy Rd, S of Lone Star Rd on the E Side of Tracy Rd, 0 Justina Rd, Located at Justina Rd & Justina Ct, & 0 Ricker Rd Located S of Wilson Blvd on Ricker Rd,
Summary
Resolution 2026-81, introduced by the Council President at the request of the Jacksonville Housing Finance Authority (JHFA), authorizes the issuance of multifamily housing revenue bonds totaling up to $16,625,000. The funds will finance the acquisition and construction of a scattered-site multifamily residential facility aimed at serving low, middle, and moderate-income individuals. The project, known as the Tracy/Justina/Ricker Portfolio, encompasses approximately 106 housing units located at three distinct sites in Jacksonville, Duval County. This legislation is significant as it seeks to address the shortage of affordable housing in the area, thereby contributing to the community's overall welfare and enhancing the local tax base. The bonds will not constitute a debt obligation of the City