RESO Upon an Acknowledgement of Due Auth & the Making of Findings, Apv the Issuance by the JHFA of Its Multifamily Housing Revenue Bonds, in 1 or More Series, in an Aggregate Principal Amt Not to Exceed $16,625,000 for the Purpose of Financing All or a Portion of the Costs Related to the Acquisition & Construction of a Scattered Site Multifamily Residential Housing Facility for Persons of Low, Middle or Moderate Income, to Be Located at 0 Tracy Rd, S of Lone Star Rd on the E Side of Tracy Rd, 0 Justina Rd, Located at Justina Rd & Justina Ct, & 0 Ricker Rd Located S of Wilson Blvd on Ricker Rd, All Located in Jax, Duval County, FL, & to Be Commonly Known as “Tracy/Justina/Ricker Portfolio”; Determining Credit Not Being Pledged (Dillard) (Req of JHFA) 1/27/26 CO Introduced: R, F 2/2/26 R Read 2nd & Rerefer 2/3/26 F Read 2nd & Rerefer 2/10/26 CO Read 2nd & Rerefer 2/17/26 R Amend/Approve 6-0 2/18/26 F Amend/Approve 7-0 2/24/26 CO Amend/Approve 18-0

This resolution approves the issuance of Multifamily Housing Revenue Bonds by the Jacksonville Housing Finance Authority (JHFA) totaling up to $16,625,000. These bonds will finance the acquisition and construction of a scattered-site multifamily residential housing facility, known as the “Tracy/Justina/Ricker Portfolio.”

Project Details:

• Purpose: To provide housing for persons of low, middle, or moderate income.
• Locations: The project will be developed across three sites: 0 Tracy Road (south of Lone Star Road on the east side of Tracy Road), 0 Justina Road (at Justina Road and Justina Court), and 0 Ricker Road (south of Wilson Boulevard on Ricker Road), all within Jacksonville, Duval County, Florida.
• Units: The facility will consist of approximately 106 units.

Financials & Approval Process:

• The JHFA is authorized to issue these bonds under state law and Chapter 52 of the City of Jacksonville's Ordinance Code.
• A public hearing was held on December 18, 2025, with no public participation.
• The City Council finds that the project will have a substantial public benefit and approves the bond issuance.
• Crucially, the resolution states that the credit of the City, County, or State will not be pledged for these bonds; they are payable solely from project revenues.

Timeline & Votes:

• The JHFA authorized the bond issuance on February 19, 2025.
• The City Council's approval process involved multiple readings and amendments, culminating in approval on February 24, 2026.
• The resolution specifies an effective date upon signature by the Mayor or becoming effective without it.