The Jacksonville City Council approved a $2.8 million loan for the Tori Meadows affordable housing project, prompting a broader debate about how the city should use its housing fund.
JACKSONVILLE, Fla. — Jacksonville’s affordable housing strategy came under scrutiny at City Hall Tuesday as council members considered whether to tap the city’s Affordable Housing Trust Fund to help finance a planned apartment community in Spring Park.
The council voted 15-3 to approve the $2.8 million loan for Tori Meadows. The decision came after members rejected a Finance Committee substitute that would have redirected funding from the affordable housing trust fund.
Tori Meadows is planned for an 8.7-acre property near San Diego Road and Spring Park Road. The development would feature roughly 180 affordable apartments and carry an estimated price tag of $39 million.
The dispute follows a September vote in which council members restored $4.9 million to the Affordable Housing Trust Fund after budget negotiations. That money is intended to support down payment assistance, affordable housing construction and utility tap fees.
During Tuesday’s meeting, residents asked the council to leave the trust fund money in place instead of directing it toward Tori Meadows.
“From how hard we had to work to get you guys to put the trust fund in place, the fact that the turnaround was so quick to give it to a massive developer who’s already building something is crazy,” resident Teagan Belloit said during public comment.
Another resident called on council members to preserve the bill’s original language and safeguard funding that had already been designated for the trust fund.
Finance Committee Chair Will Lahnen supported the proposed change, saying Jacksonville must address its current financial obligations instead of postponing them for future budgets. Lahnen said the city is facing about $35 million in unbudgeted commitments during the 2028-29 fiscal year.
Several council members opposed using the trust fund for the project. Council Member Matt Carlucci said the move would conflict with the fund’s original mission.
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“It hurts the intentions of what the housing trust fund was supposed to do, which was to build homes,” Carlucci said.
Council Member Ron Salem questioned why the city was revisiting its funding plan so soon after approving the budget.
“I have never seen in my seven years here, where something passes in the budget and two weeks later, we’re changing it and that concerns me,” Salem said.
“When I voted yes two weeks ago, I said I would support the 4.9 and I don’t like this approach of snatching from it,” Councilmember Ken Amaro said.
Council Member Raul Arias said the funding should remain focused on homeownership instead of being used for affordable rental units.
Other council members said Jacksonville still has as long as two years to find a different funding source for Tori Meadows, allowing the city to protect money set aside for other affordable housing needs.
The approved legislation authorizes the city to enter an economic development agreement and complete related loan documents for Tori Meadows. The proposed loan would run for 20 years at an interest rate of 1%, with repayment due once the project reaches substantial completion.
The loan will still require a separate appropriation through future legislation.
City officials say Tori Meadows could expand Jacksonville’s supply of affordable housing while bringing an estimated $39 million in private investment to the city.