FINANCIAL_SERVICESAMENDED

City of Jacksonville City Council Agenda 2026-06-23

City Modifies Forgivable Loan Terms for JU Law School

2 forgivable loans of $1,250,000 eachCity of JacksonvilleJACKSONVILLE UNIVERSITYJune 23, 2026

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Description

The Jacksonville City Council authorized execution of a third amendment to the funding agreement with Jacksonville University to modify the preconditions for forgiveness of two $1.25 million loans supporting the JU College of Law. The change adjusts how the university can achieve loan forgiveness while maintaining the City's financial commitment to the law school project.

Contract Details

Contract Amount

2 forgivable loans of $1,250,000 each

Vendor

JACKSONVILLE UNIVERSITY

Agency

City of Jacksonville, FL

Contract Type

FINANCIAL_SERVICES

Document Date

June 23, 2026

Renewal Info

Third amendment to existing City Funding Agreement; modifies conditions for loan forgiveness of two existing $1,250,000 forgivable loans.

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Issuing Agency