JACKSONVILLE, Fla. – An ambitious affordable housing initiative aimed at creating a potential 1,000 new rental units in Jacksonville has encountered yet another setback.
The Community Foundation of Northeast Florida and the Jessie Ball Du Pont Fund spearheaded the creation of the Jacksonville Affordable Housing Fund which is calling for a $10 million investment to address the city’s ongoing housing crisis, a request that sparked controversy during a Monday afternoon informational session hosted by City Council Member Matt Carlucci Sr.
The Jacksonville Affordable Housing Fund proposes a solution to the city’s housing affordability issues but requires a $10 million loan from the city to jumpstart the initiative. The proposed fund would combine the city investment with contributions from the Community Foundation of Northeast Florida, the Jessie Ball duPont Fund, and private sector partners, creating a $40 million pool dedicated to affordable housing projects.
James Coggin, the Senior Director for Grantmaking and Impact Investing at the Community Foundation of Northeast Florida, presented the proposal to key city council members Monday, including Councilmembers Ron Salem, Matt Carlucci, Michael Boylan and Tyrona Murray.
Coggin emphasized the potential impact of the fund and the strong interest from private partners willing to invest alongside the city.
Despite the compelling pitch, the proposal faced opposition.
Salem revealed that the $10 million request had been removed from the city budget, a decision he approved due to concerns over the initiative’s clarity and process.
Salem expressed that such a significant initiative should undergo thorough scrutiny through the committee process, including public hearings.
“I’ve never seen an initiative like this in the budget,” Salem noted. “It should go through the committee process, where it can be debated, and we should have public hearings where the public can weigh in.”
Matt Carlucci, a senior city council member, expressed his disappointment, highlighting the urgency of the affordable housing crisis and the potential for the city to make a significant impact.
“We talk about housing all the time, week after week, year after year, and here we have a chance to make an investment and triple our investment on it,” Carlucci said. “This is a very well-put-together project.”
Despite the setback, Councilmember Carlucci remains determined.
He plans to advocate for the $10 million to be reinstated in the city budget, which will be finalized by the full council by Oct. 1.
The outcome of this decision will determine whether Jacksonville can move forward with this critical affordable housing initiative.