Jacksonville Housing Finance Authority

The Jacksonville Housing Finance Authority (JHFA) was established pursuant to Chapter 52, Jacksonville Municipal Code in accordance with Section 159, Part IV, Florida Statutes. The JHFA exists for the purpose of addressing affordable housing needs in Duval County, Florida by stimulating the construction and rehabilitation of housing through the use of public financing. The JHFA is empowered to alleviate the shortage of affordable residential housing and to provide capital for investment in such facilities for low, moderate or middle income families and persons anywhere within Duval County, Florida through the issuance of its mortgage revenue bonds (subject to legislative approval).

A seven-member board appointed by the Mayor and the City Council governs the Authority.

Programs and Services
Bond issues - The JHFA issues tax exempt single-family mortgage revenue bonds to provide funds for below market rate mortgages to homebuyers. In addition, the JHFA also issues Mortgage Credit Certificates (MCCs) which allow taxpayers to claim a tax credit for some portion of the mortgage interest paid during a given tax year.

The JHFA has also issued multifamily bonds to finance the construction or acquisition and rehabilitation of apartment complexes. Because the interest paid to the investors who buy these bonds is exempt from federal income tax, the interest rate on the mortgage to the developer is generally lower than conventional interest rates. More importantly, tax-exempt bonds bring automatic federal Housing Credits to each deal—providing private sector equity investment that makes the transaction economically feasible.

By federal law, developments financed through the issuance of tax-exempt bonds include a requirement that a certain percentage of units be set aside for specific percentage levels of the local area median income. The development is also required to remain affordable for a specific period of time.

The Authority was created by the Jacksonville City Council as the Duval County Housing Finance Authority (DCHFA) in 1978 and renamed the Jacksonville Housing Finance Authority in 2004.

To review associated organizing legislation, please click on the links below:

Florida Statutes 159.601 Part IV Housing Finance Authorities

Chapter 52, Jacksonville Municipal Code

Feel free to contact us at jhfa@coj.net or (904) 255-8279.

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Contact Information:
Jacksonville Housing Finance Authority
c/o Laura Stagner, Director - Finance
214 North Hogan Street, 3rd Floor
Jacksonville, FL 32202
www.jaxhfa.net