City of Jacksonville Neighborhoods, Community Services, Public Health and Safety Committee Agenda 2026-06-01
City revises loan-forgiveness terms for JU College of Law
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Description
The City intends to modify its funding agreement with Jacksonville University by a third amendment to revise the conditions under which two $1.25 million loans supporting the JU College of Law will be forgiven. The change keeps total loan amounts intact while updating performance requirements tied to loan forgiveness.
Contract Details
Contract Amount
Two forgivable loans of $1,250,000 each (total $2,500,000)
Vendor
JACKSONVILLE UNIVERSITY
Agency
City of Jacksonville, FL
Contract Type
FINANCIAL_SERVICES
Document Date
June 1, 2026
Renewal Info
Third amendment alters preconditions for loan forgiveness of two existing $1.25 million forgivable loans; no change in principal or stated maturity detailed in the agenda.
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