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DUVAL COUNTY · LOCALlocal legislationAdopted
Local Impact

Approval of $20 Million Bond for Riverside Park Apartments Renovation

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 (Riverside Park Apartments Project), Series 2025, in an Aggregate Principal Amount Not to Exceed $20,000,000 for the Purpose of Financing All or a Portion of the Costs Related to the Acquisition & Rehabilitation of an Existing Multifamily Residential Housing Facility for Elderly Families of Low, Middle or Moderate Income, Located at 750 Oak St, Jax, Duval County, FL, 32204, & to Be Commonly Known as “Riverside Park Apartments”; Determining Credit Not Being Pledged (Req of JHFA) (Wilson) 2/25/25 CO Introduced: NCSPHS, F 3/3/25 NCSPHS Read 2nd & Rerefer 3/4/25 F Read 2nd & Rerefer 3/11/25 CO Read 2nd & Rerefer 3/17/25 NCSPHS Approve 7-0 3/18/25 F Approve 6-0 3/25/25 CO Approve 17-0

Record date · March 25, 2025

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What This Bill Does

The City Council has approved the issuance of up to $20 million in by the Jacksonville Housing Finance Authority (JHFA). These funds will be used to acquire and renovate the Riverside Park Apartments, an existing housing facility for elderly residents with low to moderate incomes.

Why it matters

This resolution authorizes the financing for the acquisition and rehabilitation of a specific elderly housing facility at 750 Oak Street, ensuring the project can proceed using bond-funded capital.

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

Elderly residents of Riverside Park Apartments

The residents will be impacted by the acquisition and rehabilitation of their housing facility.

Directly affected

Jacksonville Housing Finance Authority

The agency is authorized to issue the bonds to finance the project.

Key Facts

  • The City Council approved the issuance of up to $20,000,000 in multifamily housing revenue bonds.
  • The bonds are designated as 'Series 2025' for the Riverside Park Apartments project.
  • The funds are intended for the acquisition and rehabilitation of an existing multifamily housing facility.
  • The facility is located at 750 Oak St, Jacksonville, Duval County, FL, 32204.
Show all 8 facts
  • The housing is specifically intended for elderly families of low, middle, or moderate income.
  • The resolution determines that the credit of the city is not being pledged to back these bonds.
  • The resolution was approved by the City Council with a 17-0 vote on March 25, 2025.
  • The resolution was previously approved by the NCSPHS committee (7-0) and the Finance committee (6-0).

Frequently Asked Questions

Will this project cost taxpayers money?
The resolution explicitly states that the credit of the city is not being pledged, meaning the city is not guaranteeing the debt.
Who is the target demographic for this housing?
The facility is intended for elderly families with low, middle, or moderate incomes.
What is the status of this resolution?
The resolution has been adopted as of March 25, 2025.

What else do you want to know?

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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

1 pattern noticed across the record

Patterns POLISCOPE noticed across the record. These are observations to investigate, not conclusions.

policy shift90% confidence

Unanimous Support for Elderly Housing

The project received unanimous support across all legislative stages, indicating strong consensus on the need for elderly housing rehabilitation.

Riverside Park Apartments

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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