$17.75 million package bond for low-income family housing in Jacksonville Beach

JACKSONVILLE BEACH, Fla. — The City of Jacksonville Finance Committee approved a new $17.75 million bond package to go toward low-incoming family house at Jacksonville Beach.

As it waits for approval from City Council, neighbors said they are hopeful for a change.

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“It’s needed because everybody wants something new,” Shirzad Fanoos, a neighbor, said. “It might be a little bit old but we still love it.”

If approved, the City will essentially raise money for this project through investors, who will later get a return on their investment.

The Jax Finance Authority’s proposed plan includes 127 new units, scattered throughout a neighborhood in Jax Beach. Each unit is designed as a multifamily residential rental housing facility at the following locations:

• 1st Avenue South, southeast of the intersection of 1st Avenue South and 8th Street South, Jacksonville Beach;
• 1st Avenue South, northwest of the intersection of 1st Avenue South and 9th Street South, Jacksonville Beach;
• 1st Avenue South, northeast of the intersection of 1st Avenue South and 9th Street South, Jacksonville Beach;
• 2nd Avenue South, northeast of the intersection of 2nd Avenue South and 8th Street South, Jacksonville Beach;
• 5th Avenue South, northwest of the intersection of 5th Avenue South and 9th Street South, Jacksonville Beach;
• 5th Avenue South, northeast of the intersection of 5th Avenue South and 9th Street South, Jacksonville Beach;
• 5th Avenue South, southwest of the intersection of 5th Avenue South and 9th Street South, Jacksonville Beach;
• 5th Avenue South, southeast of the intersection of 5th Avenue South and 8th Street South, Jacksonville Beach; and
• 5th Avenue South, southeast of the intersection of 5th Avenue South and 7th Street South, Jacksonville Beach

Action News Jax found a similar plan was approved in past. However, it took more than a year to begin, so it needs to be re-approved by City Council.

“Improvement is always good and there’s a lot of houses that ran out and poor people can’t afford to have them fixed up,” Sherman Easley, a neighbor, said.

Cox Media Group