Approval of $100 Million in Housing Mortgage Bonds for Duval County

Original title: RESO, Upon an Acknowledgement of Due Authorization & the Making of Findings, Apv the Issuance by the JHFA of Its Homeowner Mortgage Rev Bonds, in One or More Series, in an Aggregate Face Amt Not to Exceed $100,000,000 for the Purpose of Purchasing Mortgage Loans Originated by Participating Local Lending Institutions to Finance the Purchase or Rehab of New or Existing Owner-Occupied Residences Situated in Duval County, FL, or Purchasing Securities Guaranteed by the Federal Govt or Agencies Thereof or for the Purpose of Refunding Outstanding Bonds of the JHFA Previously Issued for Such Purpose; Auth the Submission of a Request for a Private Activity Bond Volume Cap Allocation; Determining Credit Not Being Pledged (Dillard) (Req of JHFA) 9/23/25 CO Introduced: NCSPHS, F 10/6/25 NCSPHS Read 2nd & Rerefer 10/7/25 F Read 2nd & Rerefer 10/14/25 CO Read 2nd & Rerefer 10/20/25 NCSPHS Approve 7-0 10/21/25 F Approve 6-0 10/28/25 CO Approve 18-0

Record date · October 28, 2025

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What This Bill Does

The Jacksonville City Council has approved a resolution allowing the Jacksonville Housing Finance Authority (JHFA) to issue up to $100 million in . These funds will be used to purchase mortgage loans from local lenders to help residents buy or renovate homes in Duval County, or to refinance existing housing bonds.

Why it matters

This resolution authorizes the JHFA to raise $100 million to support local homeownership and housing rehabilitation through mortgage financing programs in Duval County.

Who It Affects

Groups the bill's text affects, as described in the record. Being affected is not a position for or against it.

Directly affected

Jacksonville Housing Finance Authority

The agency is authorized to issue up to $100 million in bonds to fund its mortgage programs.

Directly affected

Local Lending Institutions

These institutions may participate by originating mortgage loans that the JHFA will purchase.

Directly affected

Duval County Homebuyers

Residents seeking to purchase or rehabilitate owner-occupied homes may access mortgage financing supported by these bonds.

Key Facts

The Jacksonville City Council approved the issuance of up to $100 million in Homeowner Mortgage Revenue Bonds.
Funds will be used to purchase mortgage loans from local lenders for the purchase or rehabilitation of owner-occupied residences in Duval County.
Funds may also be used to purchase securities guaranteed by the federal government or to refund previously issued JHFA bonds.
The resolution authorizes the submission of a request for a Private Activity Bond Volume Cap Allocation.

Show all 7 facts

The resolution specifies that the credit of the City of Jacksonville is not being pledged to back these bonds.
The resolution was adopted by the City Council on October 28, 2025, with an 18-0 vote.
The resolution was previously approved by the NCSPHS committee (7-0) and the Finance committee (6-0).

Frequently Asked Questions

Will my taxes increase to pay for these bonds?

No. The resolution explicitly states that the credit of the City of Jacksonville is not being pledged, meaning the city is not guaranteeing the debt with taxpayer funds.

What can the bond money be used for?

The money is used to buy mortgage loans from local banks to help people buy or fix up homes in Duval County, or to refinance older housing bonds.

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