NCSPHS AMENDMENT

Finance Committee · 2026-06-16 · agenda_item

The City of Jacksonville Finance Committee is considering an amendment to a previous action regarding the Downtown East Apartments. This amendment would revise the funding source for a loan to the Jacksonville Housing Authority (JHA). The loan, not to exceed $1,000,000, is for the demolition and environmental remediation of the Downtown East Apartments. The JHA plans to redevelop this property into 130 units of housing for seniors. This item is currently pending review by the Finance Committee. The project involves demolition and environmental remediation, which would likely include site clearing, hazardous material abatement, and waste disposal. Following this, site preparation for future redevelopment would occur. Contractors specializing in demolition, environmental services, site preparation, and potentially utility work could find opportunities. Reaching out to the JHA and the City early could provide insight into the project's timeline and specific needs before formal bidding processes begin.

loan amount

1000000 $

loan term

3 year

loan interest rate

2 %

estimated cost

683224 $

previous appropriation

1500000 $

housing units

130 units