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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 the contract anticipates 6–12 owner-occupied residential units. Staff cited funding to support affordability: a $240,000 TIF contribution and funding from an ARPA agreement (the transcript references $36,060,000 from ARPA). The city would maintain stormwater improvements and shared driveways if built to city standards; the ground lease mechanics are intended to preserve affordability on resale.
Tesson also updated the board on three HVA infill homes completed with Habitat for Humanity partners and noted applications and approved applicants for Urban Core sites. Board members asked clarifying questions about lender arrangements for CLT buyers and whether the land trust or a developer constructs the homes; staff clarified the land trust will use partner builders and pledged to provide additional financial-equity math for homeowner equity accrual under the ground lease model.
On commercial programs, staff reported low take-up for the Commercial Property Improvement Program (CPIP) in Urban Core and said the program boundary had been expanded to attract applicants. Staff described hurdles—high abatement/remediation costs, match requirements and CRA-approval timing—that slow projects; board members suggested targeted owner outreach and faster administrative approvals for smaller projects.
Next steps: staff will bring the 925 East Jackson contract to the CRA board and city council for approval next month, share additional equity-calculation details for CLT buyers and continue outreach and application processing for RPIP/CPIP.
