JACKSONVILLE, Florida. – An ambitious affordable housing initiative that would potentially create 1,000 new rental apartments in Jacksonville has suffered another setback.

The Community Foundation of Northeast Florida and the Jessie Ball duPont Fund have pushed for the creation of the Jacksonville Affordable Housing Fund, which calls for $10 million in investments to combat the city’s ongoing housing crisis. The request sparked controversy during a City Council Finance Committee meeting Monday.

The Jacksonville Affordable Housing Fund proposes a solution to the city’s affordable housing problems, but requires a $10 million loan from the city to kickstart the initiative. The proposed fund would combine the city’s investment with contributions from the Community Foundation of Northeast Florida, the Jessie Ball duPont Fund and private sector partners, creating a $40 million pool for affordable housing projects.

James Coggin, senior director of grantmaking and impact investing at the Community Foundation of Northeast Florida, presented the proposal to key city council members on Monday, including Councilmembers Ron Salem, Matt Carlucci, Michael Boylan and Tyrona Murray.

Coggin emphasized the potential impact of the fund and the strong interest of private partners willing to invest alongside the city.

Despite the convincing arguments, the proposal met with resistance.

Salem announced that the $10 million request had been removed from the city budget. He approved this decision because he had concerns about the clarity and process of the initiative.

Salem expressed that such an important initiative must be thoroughly examined through the committee procedure, including public hearings.

“I’ve never seen an initiative like this in the budget,” Salem noted. “It should go through committee where it can be debated, and we should have public hearings where the public can voice their opinion.”

Matt Carlucci, a senior member of the City Council, expressed his disappointment and emphasized the urgency of the affordable housing crisis and that the city has the opportunity to make a significant contribution.

“We talk about housing all the time, week after week, year after year, and here we have a chance to make an investment and triple our investment in it,” Carlucci said. “This is a very well put together project.”

Despite the setback, Council Member Carlucci remains determined.

He wants to ensure that the $10 million is put back into the city budget, which is to be approved by the entire city council by October 1.

The outcome of this decision will determine whether Jacksonville can move forward with this important affordable housing initiative.