As the City of Jacksonville and JEA continue to work on what could be the next contract between the parties, we’re getting a better idea of when we could see action.
The JEA Finance Committee today deferred action on the current draft, but want talks to continue heading in to another meeting in about two weeks. If that goes well, JEA’s CEO Paul McElroy tells WOKV he hopes to see the proposal up for a vote at next month’s board meeting- which would then send it to City Hall for approval.
“There are still a number of questions structurally within the document that need to be worked through,” he says.
WOKV has obtained a draft of the interlocal agreement that’s currently being worked on. It includes language outlining the five main pillars JEA wants to see in the final agreement. McElroy believes bringing down the annual JEA payment to the City is one of the most significant portions- from the utility’s perspective. In exchange for the long-term savings, JEA would pay the City a $120 million one-time lump sum as soon as a month after the contract is signed. The Mayor’s Office supports a plan that would use the money to pay down the City’s pension debt, but that hasn’t been vetted by the City Council at this point.
JEA would also be allowed to set up its own independent pension system under the five pillars. There are other governing and economic development provisions as well.
McElroy says they’re working now on finding areas of disagreement.
“Go over the points and see if we can get an agreement or closer to an agreement,” he says.
McElroy says, beyond the February meeting, they would be facing a tight time schedule. He hopes to see a new agreement on the books by June.
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