Chapter 52 - JACKSONVILLE HOUSING FINANCE AUTHORITY

Sec. 51A.113. - Annual presentation of affordable housing programs and goals required. Chapter 53 - COMMUNITY REDEVELOPMENT AGENCY ADVISORY BOARDS Chapter 52 - JACKSONVILLE HOUSING FINANCE AUTHORITY

Sec. 52.101. - Definitions.

The following terms, wherever used or referred to in this Part, shall have the following respective meanings for the purposes of this Part, unless a different meaning clearly appears from the context:

(a)

Act shall mean Chapter 159, Part IV, Florida Statutes (F.S. 159.601 et seq.), the Florida Housing Finance Authority Law, as may be amended from time to time.

(b)

Authority shall mean the public body corporate and politic created under the Act and established pursuant to this Chapter 52, Ordinance Code.

(Ord. 2014-185-E, § 2)

Sec. 52.102. - Jurisdictional power and authority.

The Authority shall have the power and is hereby directed to operate within the General Services District and Urban Services Districts 2—5.

(Ord. 2014-185-E, § 2)

Sec. 52.103. - Legislative Findings and Declaration.

The Council finds and declares that:

(1)

Within the City there is a shortage of housing available at prices or rentals which many persons and families can afford and a shortage of capital for investment in such housing. This shortage constitutes a threat to the health, safety, morals and welfare of the residents of the City, deprives the City of an adequate tax base, and causes the City to make excessive expenditures for crime prevention and control, public health, welfare and safety, fire and accident protection and other public services and facilities.

(2)

Such shortage cannot be relieved except through the encouragement of investment by private enterprises and the stimulation of construction and rehabilitation of housing through the use of public financing.

(3)

The financing, acquisition, construction, reconstruction and rehabilitation of housing and of the real and personal property and other facilities necessary, incidental and appurtenant thereto are exclusively public uses and purposes for which public money may be spent, advanced, loaned or granted and are governmental functions of public concern.

(4)

The Congress of the United States has, by the enactment of the Internal Revenue Code of 1986, as amended, found and determined that housing may be financed by means of obligations issued by any state or local governmental unit, the interest on which obligations is exempt from federal income taxation, and has thereby provided a method to aid state and local governmental units to provide assistance to meet the need for housing.

(5)

The state legislature has, by enactment of Chapter 159, Part IV, Florida Statutes (F.S. § 159.601 et seq.), found and determined that local housing finance authorities are the proper means by which counties may avail themselves of the above provisions of the Internal Revenue Code and thereby assist in meeting the local need for housing.

(6)

The provisions of this Section are found and declared by the Council to be necessary and in the public interest.

(Ord. 2014-185-E, § 2)

Sec. 52.104. - Creation.

There is hereby created a separate public body corporate and politic to be known as the "Jacksonville Housing Finance Authority," which is directed to carry out and exercise, without limitation except as expressly stated herein, all powers and public and governmental functions set forth in and contemplated by the Act.

(Ord. 2014-185-E, § 2)

Sec. 52.105. - Professional services contracts; City staff support.

The Authority shall contract for the professional expertise needed to conduct its operations, which shall include, but are not limited to, bond counsel, subject to the provisions herein, bond underwriter, investment banker, financial advisor, auditor, bond trustee, loan servicer, single family program administrator, compliance and monitoring agent, custodial bank, credit underwriter, and rating agency. The Authority may request staff support on a cost reimbursement basis from City employees or departments as needed.

(Ord. 2014-185-E, § 2)

Sec. 52.106. - Membership; terms; removal; vacancy; etc.

(1)

Authority membership. The Authority shall consist of seven members, four of whom shall be members appointed by the Mayor and confirmed by Council, and three of whom shall be appointed and confirmed by Council. All seven members shall represent one of the following organizations: labor, finance or commerce. A certificate of the appointment or reappointment of any member of the Authority shall be filed with the Clerk of the Circuit Court of the County, and the certificate shall be conclusive evidence of the due and proper appointment of the member. The members shall be Duval County residents.

(2)

Term of office and appointment. Each member shall serve a term of four years. Members shall serve for the term of their respective offices until their qualified successors have been appointed and confirmed. No member may serve more than two consecutive terms. All terms shall begin on July 1.

(3)

Removal. An Authority member may be removed without cause by a three-fifths vote of the Council, or for neglect of duty or misconduct in office by a majority vote of the Council, and in accordance with the removal procedures under the Act.

(4)

Vacancy. An Authority member's term shall automatically expire and his or her office shall be deemed vacant for purposes of appointment of a new member if, while in office, he or she shall cease to be qualified for membership under the provisions herein, or any other laws or regulations. All appointments of the Authority shall be confirmed by the Council. Each vacancy shall be filled for the remainder of the unexpired term.

(5)

Office-holding. The Authority membership shall be considered an office and limited by the office holding provisions as provided for under the Florida Constitution. No Authority member shall be eligible to serve as a member of the Authority while holding other office or being an employee of the City. All Authority members shall be required to take an oath of office required by the City and found in Chapter 2 (Oaths), Section 2.101 (Oaths of public officials), Ordinance Code.

(6)

Organization and proceedings.

(a)

Rules of procedure. The Mayor shall appoint the Chairman of the Authority, for a term of two years, and the Authority members shall elect the remaining officers. The Authority shall establish rules of procedure necessary to its governing and the conduct of its affairs. Unless otherwise provided herein, the Authority's rules and procedures shall be consistent with applicable provisions of the Ordinance Code.

(b)

Meetings. All meetings of the Authority shall be open to the public and compliant with the Sunshine Law under Chapter 286, Florida Statutes, as amended from time to time.

(7)

(a)

Quorum. Four members physically present shall constitute a quorum.

(b)

Voting. All decisions and recommendations of the Authority shall require a concurring vote of a majority of the members voting.

(8)

Notice. Reasonable notice of the Authority's meetings shall be given to the public in compliance with the Sunshine Law under Chapter 286, Florida Statutes, as amended from time to time.

(9)

Compensation. Authority members shall serve without compensation, pension or retirement benefits; however, they may be reimbursed for travel and other expenses.

(Ord. 2014-185-E, § 2)

Sec. 52.107. - Powers and duties.

The Authority shall have the following powers and duties:

(1)

To operate with all the powers and authority of a housing finance authority granted under Chapter 159, Part IV, Florida Statutes (F.S. § 159.601 et seq.), except the Authority shall not:

(i)

Issue tax-exempt revenue bonds without first obtaining the approval of the Council in compliance with the applicable provisions of the United States Internal Revenue Code and regulations promulgated thereunder;

(ii)

Employ its own legal counsel and shall only utilize the services of the City's Office of General Counsel except as provided in this subsection. With the approval of the General Counsel, and subject to available funding, the Authority may employ specialized outside private counsel, as set forth in Chapter 108 (Central Services), Part 5 (Legal Services), Ordinance Code; and

(iii)

Exercise any power otherwise prohibited by the Act.

(2)

To preserve debt, issue new debt, subject to the limitations of this Chapter, and shall shield the City from financial liability.

(3)

To receive and administer grants from public and private sources.

(4)

To adopt bylaws, rules, resolutions, and orders prescribing the powers, duties, and functions of the officers of the Authority, the conduct of the business of the Authority, and the maintenance of the records, consistent with Florida Statutes and the Ordinance Code.

(5)

To approve and execute all contracts and other documents, adopt all proceedings, and perform all acts determined by the Authority to be necessary or desirable to carry out the purposes of this Chapter.

(Ord. 2014-185-E, § 2; Ord. 2023-492-E, § 2)

Sec. 52.108. - Annual independent financial audit.

The Authority shall annually obtain an independent financial audit of its operations prepared by a certified public accountant. The Authority shall submit a copy of the audit to the Council Auditor in accordance with Section 102.114 of the Code.

(Ord. 2023-492-E, § 2)

Editor's note— Ord. 2023-492-E, § 2, amended the Code by repealing former § 52.108 and adding a new § 52.108. Former § 52.108 pertained to JHFA loan funds, and derived from Ord. 2014-185-E, § 2; and Ord. 2016-140-E, § 16.

Sec. 52.109. - JHFA multi-family development loan criteria.

The Authority is authorized to disburse funds from its established accounts for any of the purposes set forth in this Chapter, provided that any such multi-family development loan shall be made:

(1)

In response to a Notice of Availability of Funds issued by the Authority;

(2)

In conformance with a third-party credit underwriter's report prepared for the Authority or the Florida Housing Finance Corporation;

(3)

Subject to repayment; and

(4)

In compliance with the loan application program, the Council approved loan policies enacted pursuant to Ordinance 2014-185 (the "Loan Policies") and any additional policies and procedures adopted by the Authority not inconsistent with this Chapter and the Loan Policies.

Additionally, any single-family loan made by the Authority shall be in accordance with the eligibility criteria as authorized for the bond issue or existing single-family loan program pursuant to Ordinance 2012-683-E, as amended by Ordinance 2013-255-E, or new single-family loan program established by the Authority pursuant to this Chapter, except that the Authority may adjust the maximum loan amount to borrowers in said loan programs as necessary without further Council approval.

(Ord. 2014-185-E, § 2; Ord. 2023-492-E, § 2)

Sec. 52.110. - Approval of operating budget; budget transfers; audits by City Council Auditor.

The fiscal year of the Authority shall commence on October 1 of each year and end on the following September 30. The Authority shall prepare and submit its operating budget to the Council on or before July 1 for the ensuing fiscal year. The Council, consistent with the provisions of the Charter of the City of Jacksonville, may increase or decrease the budget requested by the Authority on a total basis or a line-by-line basis. The Authority may transfer funds between authorized budget line items; provided, however, the Authority shall provide to the Council Auditor a copy of the written documentation for each transfer made between approved budget line items within 24 hours of such transfer. The Authority's records may be audited at any time by the Council Auditor of the City of Jacksonville.

(Ord. 2014-185-E, § 2)

Sec. 52.111. - Limitation; no power of eminent domain.

The Authority shall not finance the acquisition, construction, reconstruction, or rehabilitation of any "qualifying housing development" for its own profit or as a source of revenue to the state or any local governmental unit, except when it is for the Authority's offices and affordable housing. The Authority shall not have the power to acquire any real property by the exercise of the power of eminent domain to accomplish any of the purposes specified in the Act.

(Ord. 2014-185-E, § 2)

Sec. 52.112. - Annual reporting.

The Authority shall submit an annual report to the Finance Committee of the Council on or before December 31 of each year, which shall include at a minimum the following information:

(1)

A servicing report summarizing the performance of all of the existing mortgages in the Authority's portfolio and any new loans issued during the fiscal year;

(2)

A list of rental developments funded by the Authority and the number of households assisted;

(3)

A compliance report to include occupancy numbers of rental projects and compliance with the affordability requirements; and

(4)

The goals and objectives of the Authority for the current fiscal year.

(Ord. 2014-185-E, § 2)

Sec. 52.113. - Amendment to structure; termination.

The Council may, at its sole discretion, and at any time, alter or change the structure, organization, programs or activities of the Authority, including the power to terminate the Authority, subject to any limitation on the impairment of contracts entered into by the Authority and subject to the limitations or requirements of the Act. The Mayor is authorized to take all necessary actions in structuring the Authority for the sole purpose of ensuring compliance with state law.

(Ord. 2014-185-E, § 2)

Sec. 52.114. - Compliance with the Act, laws, ordinances and regulations.

The Authority shall comply with the provisions of the Act and shall be subject to the limitations set forth herein. All members and employees of the Authority shall comply with all applicable laws, ordinances, and regulations, including but not limited to the Code of Ethics for Public Officers and Employees, Chapter 112, Part III, Florida Statutes, the Sunshine Law, Chapter 286, Florida Statutes, and the Public Records Act, Chapter 119, Florida Statutes, and the provisions of Chapter 602 (Jacksonville Ethics Code), Ordinance Code.

(Ord. 2014-185-E, § 2)

Sec. 52.115. - Procurement.

The Authority, as an independent agency of the City, may establish its own procurement code with procedures for purchasing supplies, services, and capital improvements consistent with applicable laws. However, the Authority shall be required to use and procure supplies, services, and capital improvements in accordance with Chapter 126, Ordinance Code, until such time that the Authority establishes its own procurement code. The Authority's procurement code shall be subject to the Office of General Counsel's review for legal sufficiency and compliance with applicable laws. The Authority shall provide the Council Secretary with a copy of established procurement code within five (5) business days of initial adoption.

(Ord. 2023-492-E, § 3)

Sec. 51A.113. - Annual presentation of affordable housing programs and goals required. Chapter 53 - COMMUNITY REDEVELOPMENT AGENCY ADVISORY BOARDS