The Jacksonville Housing Finance Authority approved the issuance of up to $23,000,000 in bonds to finance the construction of a multifamily residential facility known as the Village at Lake Forest. The project will include approximately 120 units for low, middle, and moderate-income families. The bonds will not affect the city's general credit, and the construction will be located at 901 Kennard Street.
This project helps alleviate the affordable housing shortage in Jacksonville by providing necessary housing options for low and moderate-income families, promoting community welfare.