AMENDMENT

Transportation, Energy & Utilities Committee · 2026-06-12 · agenda_item

The City of Jacksonville is considering a loan to the Jacksonville Housing Authority (JHA) for the demolition and environmental remediation of the Downtown East Apartments. This project is currently under review by the Transportation, Energy & Utilities Committee. The proposed loan amount is up to $1,000,000 at 2% interest over 3 years. The estimated cost for demolition and environmental cleanup is $683,224. Following this work, JHA plans to redevelop the site into 130 housing units for seniors. This project will involve site clearing, demolition, and environmental remediation services. Contractors specializing in demolition, environmental cleanup, and potentially site preparation could find opportunities as this project moves forward. Early engagement is advised before final bids and permits are established.

loan amount

1000000 $

loan term

3 year

interest rate

2 %

estimated cost

683224 $

ARP funding

1500000 $

dwelling units

130 units

senior age

55 +

AMI percentage

70 %

AMI percentage

30 %

commercial paper rate

2.5 %