NASSAU COUNTY, Fla. — A federal USDA loan used to develop a Nassau County property, Peppertree Village in Fernandina Beach, is being paid off.
In a letter stuck to more than 60 doors, Hallmark Management, the owner of this property, wrote to residents that once the loan provided by the U.S. government is paid off, rent will no longer be reduced. It is expected to be paid off on January 25, 2027.
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Residents told Action News Jax some people pay as low as $200 for rent with that assistance. They say this is a community designated for elderly and disabled people. Many of them live on fixed incomes, so they will not be able to afford it.
“We got some here that can barely walk, got very bad breathing trouble, they’re on oxygen,” said Michael Iobino, a resident who has lived at Peppertree Village for eight years. “Our rent here is going to go up to the basic, which is going to be over 1,119 or so dollars, and you know, nobody on social security makes over a thousand dollars a month.”
Iobino and many of his neighbors told Action News Jax they’ve received the subsidy here for as long as they can remember. They want to know what can be done, as many of the properties listed as alternative places to live told them they aren’t taking applications.
We called the following people and offices to ask those questions.
The USDA Rural Development office gave out this loan.
The Rural Development contact is listed on the letter for questions.
The Regional Manager for Hallmark Management.
We are waiting to hear back.
While on the property, Action News Jax asked the on-site manager, but she had no comment.
“It’s like we’re the bottom of the food chain and we’re not that, we’re human beings too,” Iobino said.
We also reached out to Congressman Aaron Bean’s office to see if there’s anything they’d be doing to help residents.
A spokesperson says residents can call their office, file a case, and should hear back in 24 hours.
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