The new program utilizes State Housing Initiatives Partnership (SHIP) funds to provide short-term construction loans to non-profit developers to build new single-family homes that will be sold to buyers earning at or below 50% of Area Median Income (AMI), which is $35,900 per year for a single person household or $51,250 per year for a family of four.
The loans will be fully repaid to the city at the home’s closing, allowing the funds to be reused for additional housing projects. This “revolving loan approach” will maximize the impact of SHIP funding while supporting the ongoing production of affordable units.
The benefits of the SHIP Single-Family Development Program include:
- Expanding Jacksonville’s affordable housing supply for very low-income families.
- Promoting homeownership and helping families build equity and stability.
- Strengthening neighborhoods through new construction and increased owner occupancy.
- Reinvesting public funds to create a long-term, sustainable funding source for future development.
Funding for this project was made possible by Ordinance #2026-0065-E, which was unanimously approved by the Jacksonville City Council in late February. It appropriates $2 million towards the program, including $1.5 million in construction loans and $500,000 for downpayment assistance. The City of Jacksonville Housing and Community Development Division is currently finalizing a construction RFP that will go through a transparent procurement process.
