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CRA updates project list; 925 East Jackson to use Community Land Trust and ARPA/TIF funds
Summary
Staff reported the Malcolm Young site (925 East Jackson) is under contract negotiations with the Northwest Florida Community Land Trust using a 99-year ground lease to preserve long-term affordability; staff cited $240,000 in TIF and $36,060,000 from ARPA-related funding and described targets across 80%–120% AMI ranges.
Anne Tesson, incentives and land development program manager, updated the board on multiple items in the project list, most notably negotiations for 925 East Jackson (the Malcolm Young site) with the Northwest Florida Community Land Trust (CLT). Tesson said the proposed approach uses a 99-year ground lease intended to preserve long-term affordability and protect resale restrictions when homes change hands.
Tesson said the CLT model targets a range of affordability (80%–120% AMI depending on unit) and that…
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