The Jaxson

Jacksonville by Neighborhood => Downtown => Topic started by: thelakelander on August 12, 2020, 09:25:55 AM

Title: Vestcor seeks a $625,000 DIA loan for Lofts at Cathedral
Post by: thelakelander on August 12, 2020, 09:25:55 AM
https://www.jaxdailyrecord.com/article/vestcor-seeks-a-dollar625-000-dia-loan-for-lofts-at-cathedral
Title: Re: Vestcor seeks a $625,000 DIA loan for Lofts at Cathedral
Post by: bl8jaxnative on August 12, 2020, 11:21:58 AM

More or less a formality at this point?

Title: Re: Vestcor seeks a $625,000 DIA loan for Lofts at Cathedral
Post by: fieldafm on August 12, 2020, 12:18:27 PM

More or less a formality at this point?

I think Vestcor feels they have a more than good chance, which is why they are requesting the loan. The tax credits have not been awarded by FHFC yet, but the loan being requested from COJ is usually contingent on the applicant being awarded LIHTC... meaning that if Vestcor doesn't receive the tax credits, then they don't execute the loan from COJ.
Title: Re: Vestcor seeks a $625,000 DIA loan for Lofts at Cathedral
Post by: Ken_FSU on August 18, 2020, 11:24:41 AM
https://www.jaxdailyrecord.com/article/dia-committee-approves-lofts-at-cathedral-loan

Feels like every demo is a snap of a finger, and every rehab or new project requires like five steps of approval.
Title: Re: Vestcor seeks a $625,000 DIA loan for Lofts at Cathedral
Post by: heights unknown on August 19, 2020, 08:51:47 PM
https://www.jaxdailyrecord.com/article/dia-committee-approves-lofts-at-cathedral-loan

Feels like every demo is a snap of a finger, and every rehab or new project requires like five steps of approval.
Yeah...and all the while projects, developments, and skyscrapers are slamming the sky and the downtowns of Orlando, Tampa, Miami, and even smaller Florida Cities. I just don't get it...no, I do, but yes, I don't! (if that makes sense)