The Jacksonville City Council approved a resolution authorizing the issuance of up to $17,000,000 in Multifamily Housing Revenue Bonds by the Jacksonville Housing Finance Authority (JHFA) to finance Egret Landing, an affordable multifamily housing development for elderly families. The project will be located at 5804 and 5806 North Main Street and will consist of approximately 88 units. The resolution enables bond financing to cover acquisition and construction costs for the project, which addresses the growing need for senior housing in Jacksonville. The bonds are not a debt of the city or county, and will be repaid solely through project revenues. A public hearing was held with no opposition, and the project was found to deliver substantial public benefit.
This bond issuance supports the creation of new affordable housing tailored to seniors, addressing critical demand in Jacksonville and expanding housing access for low- to moderate-income elderly residents.