ORD Making Certain Findings, & Auth the Mayor, or Her Desig, to Execute: (1) an Economic Dev Agrmt btwn the City & Tracy Justina Ricker TC LLC; & (2) Loan Docs & Related Docs as Described in the Agrmt, to Support the Dev by Company of ±108 Affordable Housing Units in a Scattered Site Multifamily Residential Housing Facility in the City; Auth a Dev Loan in the Amt of $3,200,000 with a Term of 20 Yrs in Connection with the Proj, to Be Approp by Subsequent Legislation; Desig the Chief of the Housing & Community Dev Div as Contract Monitor for the Agrmt & Related Agrmts; Prov for City Oversight of the Proj by the Neighborhoods Dept, Housing & Community Dev Div; Auth the Execution of All Docs Relating to the Above Agrmts & Transactions, & Auth Technical Changes to the Docs; Prov a Deadline for the Company to Execute the Agrmt; Waiver of That Portion of the Public Investment Policy Adopted by Ord 2024-286-E, as Amended, to Auth a Dev Loan That is Not Currently Authd by the Public Investment Policy (Staffopoulos) (Introduced by CMs Amaro & Clark-Murray) 4/14/26 CO Introduced: NCSPHS, R, F 4/14/26 CO Withdraw 19-0 Public Hearing Pursuant to Ch 166, F.S. & C.R. 3.601 - 4/28/26 — 2026-266 Original Bill — City Council (2026-04-14)
Jacksonville city, Duval County, Florida
AI Summary
Jacksonville City Council authorized an Economic Development Agreement with Tracy Justina Ricker TC LLC to develop approximately 108 affordable housing units across three scattered-site locations in Jacksonville. The city will provide a $3. 2 million development loan with a 3% interest rate over 20 years, to be repaid upon substantial completion of the $18...
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