FINANCIAL_SERVICESAMENDED

City of Jacksonville Neighborhoods, Community Services, Public Health and Safety Committee Agenda 2026-06-01

City Revises Forgivable Loan Terms for JU Law School

Two forgivable loans of $1,250,000 each (existing)City of JacksonvilleJACKSONVILLE UNIVERSITYJune 1, 2026

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Description

Jacksonville plans to execute a third amendment to its funding agreement with Jacksonville University to revise the conditions for forgiving two $1.25 million loans supporting the JU College of Law. The change recalibrates performance benchmarks without altering loan principal amounts.

Contract Details

Contract Amount

Two forgivable loans of $1,250,000 each (existing)

Vendor

JACKSONVILLE UNIVERSITY

Agency

City of Jacksonville, FL

Contract Type

FINANCIAL_SERVICES

Document Date

June 1, 2026

Renewal Info

Third amendment modifies forgiveness preconditions on existing loans; underlying maturity and forgiveness timelines remain subject to the master funding agreement.

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City of Jacksonville Neighborhoods, Community Services, Public Health and Safety Committee Agenda 2026-06-15

PENDING

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City of Jacksonville Neighborhoods, Community Services, Public Health and Safety Committee Meeting Minutes 2026-06-15

AMENDED

City of Jacksonville (Florida)2 forgivable loans of $1,250,000 each (total $2,500,000)June 15, 2026

City of Jacksonville Neighborhoods, Community Services, Public Health and Safety Committee Agenda 2026-06-01

AMENDED

City of Jacksonville (Florida)Two forgivable loans of $1,250,000 each (total $2,500,000)June 1, 2026

Issuing Agency