The city of Jacksonville announced March 19 it will provide financial assistance to nonprofit developers to build homes and low-income families to buy them.
Marking the launch of the SHIP Single-Family Development Program, the city said it will grant $1.5 million in loans to nonprofit businesses to build 10 homes for families earning at or below 50% of area median income. It will offer $500,000 in down payment assistance for families seeking to buy those homes.
The income limit for eligibility is defined by the city as $35,900 per year for a single-person household or $51,250 per year for a family of four.
The program draws its name from its funding source, the state of Florida’s State Housing Initiatives Partnership program.
In February, Jacksonville City Council voted to reallocate $2 million in SHIP grant money to create the local program. The reallocation came from $7.41 million in state SHIP grant funding to the city, which came from the Florida Department of Economic Opportunity through the Florida Housing Finance Corp.
In a news release, Mayor Donna Deegan said the program would “create new pathways for families to build generational wealth.”
“Thanks to our Housing and Community Development Division for creating this innovative program and to the City Council for approving it,” she said.
The Council vote came on Ordinance 2026-0063, which authorized the reallocation.
According to the release, the loans to the homebuilders must be fully repaid to the city at the time of each home’s closing, allowing the funds to be reused for other housing projects.
“The SHIP Single-Family Development Program provides a practical, sustainable strategy for building more housing that is affordable,” said Travis Jeffrey, Housing and Community Development Division chief, in the release.
“By leveraging short-term construction loans that are repaid at closing, the city will create a continuous pipeline of new homes for families who need them most.”