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DUVAL COUNTY · LOCALlocal legislationAdopted
Local Impact

Approval of $23 Million Bond Issuance for 'Village at Lake Forest' Housing Project

Original title: RESO, Upon an Acknowledgement of Due Authorization & the Making of Findings, Apv the Issuance by the JHFA of Its Multifamily Housing Rev Bonds (Village at Lake Forest), in One or More Series, in an Aggregate Principal Amt Not to Exceed $23,000,000 for the Purpose of Financing All or a Portion of the Costs Related to the Acquisition & Construction of a Multifamily Residential Housing Facility for Persons or Families of Low, Middle or Moderate Income, to Be Located at 901 Kennard St, Jax, Duval County, FL, 32208, & to Be Commonly Known as “Village at Lake Forest”; Determining Credit Not Being Pledged (Dillard) (Req of JHFA) 6/24/25 CO Introduced: NCSPHS, F 7/14/25 NCSPHS Read 2nd & Rerefer 7/15/25 F Read 2nd & Rerefer 7/22/25 CO Read 2nd & Rerefer 8/4/25 NCSPHS Approve 6-0 8/5/25 F Approve 7-0 8/12/25 CO Approve 18-0

Record date · August 12, 2025

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What This Bill Does

The City Council has approved a resolution allowing the Jacksonville Housing Finance Authority (JHFA) to issue up to $23 million in revenue bonds. These funds will support the acquisition and construction of a new multifamily housing facility for low- to moderate-income residents located at 901 Kennard Street.

Why it matters

This resolution authorizes the financing mechanism for a new affordable housing development in Jacksonville, enabling the construction of residential units for low- to moderate-income families without pledging the city's credit.

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 authority is granted the legal power to issue the bonds for the project.

Directly affected

Low to moderate income residents

These individuals are the target demographic for the housing units to be constructed.

Indirectly affected

City of Jacksonville taxpayers

The city's credit is not pledged, limiting the financial risk to the municipality.

Key Facts

  • The City Council approved the issuance of up to $23,000,000 in multifamily housing revenue bonds.
  • The bonds will finance the acquisition and construction of the 'Village at Lake Forest' housing facility.
  • The facility is located at 901 Kennard St, Jacksonville, FL 32208.
  • The housing is intended for persons or families of low, middle, or moderate income.
Show all 7 facts
  • The resolution explicitly determines that the credit of the city is not being pledged to back these bonds.
  • The resolution was approved by the City Council with an 18-0 vote on August 12, 2025.
  • The resolution was previously approved by the NCSPHS committee (6-0) and the Finance committee (7-0).

Frequently Asked Questions

Will taxpayers be responsible for paying back these bonds if the project fails?
No. The resolution explicitly states that the credit of the city is not being pledged, meaning the city is not liable for the debt.
Who is the housing intended for?
The facility is designated for persons or families of low, middle, or moderate income.
What is the status of this resolution?
The resolution has been adopted by the City Council as of August 12, 2025.

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Full breakdown

Who this bill affects and the strongest case for and against it, written only from the bill’s own text.

Discoveries

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Unanimous Legislative Support

The project received unanimous approval from both committees and the full City Council, indicating strong consensus on the housing initiative.

City CouncilNCSPHSFinance Committee

Sources

Open source document

webapi.legistar.com

Analysis Score

0–100
  • Significance65
    How much this matters to a regular citizen
  • Controversy10
    Intensity of disagreement among stakeholders
  • Entertainment5
    Compellingness for a non-policy-wonk reader
  • Buzz20
    Current news / social attention level

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