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Seven months into the Donna Deegan administration, we lastly have some readability about one potential mechanism to fund renovations for the municipal stadium.
At its core, it’s a easy fund switch, structured as a mortgage to town from its $5 billion in pension fund belongings to defray some undetermined portion of the prices of the stadium rebuild.
How a lot will probably be financed this fashion?
How a lot will the venture value?
Nobody is aware of but, together with the chief negotiator for town — Mike Weinstein, who we spoke with final week.
Weinstein briefed Metropolis Council President Ron Salem about it, who famous he had questions in regards to the math of the pension funding mechanism — questions that definitely must be answered about this and different financing choices ought to the deal go ahead.
Vice President Randy White? Finance Chair Nick Howland? They realized in regards to the risk from the print press.
Nobody is saying “no” simply but. However the Deegan administration must get them to sure, amid a confrontational local weather the place Salem noticed precisely what the Mayor’s Workplace thinks of him in a latest memo and the place Howland and the Mayor’s Workplace are battling over a transparency invoice he filed after Deegan inked a contract with a lobbying agency — a deal with out an open bidding course of.
The stadium deal was all the time going to be Deegan’s actual check. Eradicating the Ladies of the Southland monument was a promise she’d made to her base, delivered in an unorthodox approach that spent a lot of her political capital and that of the brand new Common Counsel.
However the stadium negotiations, which the Lenny Curry administration didn’t launch after the failure of Lot J to go, are one thing that might require the Mayor to fabricate consensus, work media relationships, and maybe use a political machine outdoors of the workplace to drive a story and put stress on Council and voters to see issues her approach.
You recognize, like we noticed throughout final decade’s pension reform push. Curry acquired 65% of the vote in a referendum to cease new outlined profit plans for metropolis staff, closing a monetary sinkhole of a retirement scheme, with a future half-cent gross sales tax paying the debt off.
That tax will probably be repurposed round 2027 from the Higher Jacksonville Plan, the nice infrastructure splash of the flip of the century that town remains to be paying off. Mayor John Delaney tirelessly constructed consensus for that, which paid dividends, simply as Curry’s push did.
Now it’s Deegan’s time to tug all of the levers — and she or he’s going to have to take action with out a political machine outdoors of Metropolis Corridor, with an adversarial Metropolis Council, and with a financing scheme that at its coronary heart is finally regressive, benefiting the Khans — who’re value upward of $12 billion at this writing. And the NFL — the last word Billionaires’ Boys Membership, which expects extra per capita from small markets than from first-tier international cities.
The deal is meant to be prepared this Summer time, per Weinstein, which suggests a strategic drop in late June across the time of a Council break and a change of management from Salem to White.
Salem has anticipated working the entire deal course of, and there are methods he can have a heavier hand in it. However his feedback on the potential pension financing would possibly incentivize the administration to slow-walk it.
“I’m involved that we’re negotiating raises concurrently this problem has surfaced. As well as, I need to perceive the price financial savings of borrowing from the pension fund vs borrowing the cash in a conventional trend. There’s vital work that must be accomplished if that is really another,” the Republican At-Giant Council member mentioned.
White could also be a neater associate, however he has the deepest connection to and understanding of town’s historic pension woes of any of those gamers.
The previous Fireplace and Rescue Administrator takes a wait-and-see strategy as he researches the proposal. He’s interested by what the Police and Fireplace Pension Board, the Fraternal Order of Police and the Jacksonville Affiliation of Fireplace Fighters assume.
These unions are at the moment negotiating with town. If historical past is precedent, they’re taking each free quote and coverage assertion into consideration as a part of their negotiations — held at a time when public security is a much less interesting profession to many individuals than it was in earlier a long time, suggesting huge raises are within the offing.
White could desire a quid professional quo of his personal, in the meantime. We perceive that he sees the Florida Retirement System as a viable pension possibility for public security staff. That could be a place unions have embraced earlier than, one which the Curry administration rejected in its pension and labor negotiations final decade.
With a assured earnings stream at an above-market charge of return, the administration could have a path if the numbers work out. Recent estimates are that town has $3.6 billion in pension debt, the seventh-highest municipal burden within the nation, and utilizing debt service to pay down the legacy pension obligation has a sure mathematical magnificence.
Some skeptical voices exist, together with individuals who have been excessive up in metropolis management in appointed and elected capacities.
One former Democratic official was blunt, saying he didn’t favor utilizing pension funds for stadium finance.
A Republican questioned its politics, contending that the administration’s comms crew ought to deal with the messaging and that utilizing Weinstein quotes to guide off “wasn’t the best way to a win.” They famous that within the earlier mayoral administration, Weinstein wasn’t speaking to the press and prompt not everybody within the Mayor’s Workplace understands the political or coverage implications of the proposal.
The stadium negotiations have been opaque and out of the general public eye these previous few months. However we anticipate the difficulty will probably be dominant in native politics going ahead, maybe for the rest of Deegan’s time period.
Code violation
Legal professional Common Ashley Moody is trumpeting the Jacksonville bust of Edrey Santo Rojas: a baddie who spent seven months shopping for wire with barcodes that made it cheaper than it ought to have been, solely to return the fabric to huge field {hardware} shops with a receipt suggesting he paid full worth.
“This thief stole greater than $28,000 value of wire rolls from home-improvement shops all through 15 counties in a fraudulent barcode scheme. He dedicated greater than 70 totally different thefts, crossing a number of judicial circuits. Due to legislation enforcement and our Statewide Prosecutors, his spree is wired shut, and now he faces a number of felony expenses.”
He pulled this rip-off off 78 instances and can get 4 counts for his hassle: two counts of individually committing or coordinating with others the fee of retail theft $3,000 or extra, a second-degree felony; one depend of individually committing or coordinating with others the fee of retail theft 20 or extra objects, a second-degree felony; and individually committing or coordinating with others the fee of retail theft $750 or extra, a third-degree felony.
He’s already in custody for housebreaking, casing a development joint and three grand-theft-level bank card scams.
Deathcare fixes
CFO Jimmy Patronis illustrated the necessity to reform the funeral house business with a narrative a few Jacksonville facility that had gone horribly improper when an undertaker deserted his obligations and left our bodies to rot alongside along with his damaged contracts.
“Following the alarming findings on the Marion Graham Mortuary in Jacksonville, my crew instantly started working with our legislative companions to amend our DFS company invoice and provides the state enhanced oversight over the deathcare business. When a member of the family passes, Floridians should be capable to relaxation assured their family members are handled with the utmost dignity and respect,” Patronis mentioned.
The CFO informed the Senate Appropriations Committee he’s backing SB 1098, which provides the Division of Monetary Companies extra oversight into pre-need contracts.
“By means of these reforms, if a funeral house in our state is deserted, we’ll have the ability to right away go in and examine. My workplace may also have additional oversight over pre-need contracts to make sure shoppers aren’t taken benefit of when planning funeral providers. Nobody in our state ought to undergo what these households needed to endure, and we’ll do all the things in our energy to make sure the perpetrators are held accountable, and the legislation is modified so this by no means occurs once more in Florida.”
Fairly a coincidence
Who says love and politics don’t combine?
Sen. Clay Yarborough and his spouse informed how the Jacksonville Republican used a seating association to rearrange a courtship.
Sen. Yarborough “conveniently knew” the organizer of a Christian group’s dinner in Jacksonville that his yet-to-be-wife Jordan and her dad and mom have been attending, and he requested his good friend that “perhaps with the seating preparations there may conveniently be (seated collectively) on the major desk.”
Jordan “suspected one thing,” provided that the 2 have been seated collectively regardless of being in a room of some hundred folks.
To observe the video, please click the image below.
Trying to spend extra time along with your crush this Valentine’s Day? ❤️
Senator @Clay_Yarborough shares his inventive technique for attending to know Mrs. @JL_Yarborough and his future in-laws.
Trace: It helps to know the occasion planner! 🍴🪑 pic.twitter.com/Mg7Y2X0Aai
— Florida Senate (@FLSenate) February 8, 2024
Custody battle
In the meantime, as you learn this on Valentine’s Day, the Florida Senate will probably be considering what occurs when love goes horribly improper because it mulls Yarborough’s laws that might govern how divorced dad and mom hand their youngsters off to one another throughout break up custody eventualities.
SB 580 is on the Particular Order calendar, the place it’ll possible be substituted with the an identical measure passed by the House (HB 385).
The invoice is known as the Cassie Carli Regulation to honor Cassie Carli, a 37-year-old Navarre girl who vanished in March 2022 following the scheduled trade of her preschool-aged daughter, solely to be present in a grave in Alabama weeks later.
The laws would require court-approved plans for shared custody to incorporate (except in any other case agreed to by each dad and mom) an inventory of “designated approved areas” to trade custody of their youngsters. Estranged dad and mom can opt-out with a written waiver, nevertheless, ought to they be capable to work issues out extra amicably.
In instances the place dad and mom present proof that they or their baby could also be susceptible to hurt, a court docket could require the dad and mom to trade within the parking zone of a county Sheriff’s Workplace.
Hillsdale Blues
Gov. Ron DeSantis has extolled Michigan’s Hillsdale School as a conservative mecca, going as far as to intestine New School in Sarasota to create what his coterie calls “the Hillsdale of the South.”
As for the Hillsdale of Duval, nevertheless, it’s a unique matter, as key supporter John Rood has apparently deviated from the Governor’s academic desire for “cultural” causes.
“Jacksonville Classical Academy is not a part of the Hillsdale community, not for ideological causes, however extra for administration ones. When Rood requested dad and mom why they have been pulling college students out of the varsity, he realized the varsity’s tradition wanted a change,” writes Mike Clark in Jacksonville Today.
The DeSantis administration has spotlighted JCA greater than even one of the best conventional colleges within the metropolis.
In 2020, the Governor after which Secretary of Schooling Richard Corcoran held a press occasion on the college. Three years later, Lt. Gov. Jeanette Nuñez spoke there to spotlight college alternative.
If he reveals up once more, it could be a superb time to ask him in regards to the Hillsdale disassociation.
Uncanny alliance
Rep. Jessica Baker doesn’t normally vote with Democrats, however when it got here to a invoice elevating the pay for the Governor, she was one in all simply three Republicans to hitch in.
In fact, there may be context: DeSantis labored to submarine her bid for Home management final yr.
However somebody near her described the vote as “humorous,” particularly given the particular person DeSantis favored — Rep. Jennifer Canady — “took a stroll” and didn’t vote.
Native Republicans have been on the opposite facet of this problem, however Democrats balked.
Notable was Rep. Angie Nixon, who prompt that DeSantis proved in 2023, along with his heavy journey schedule, that being Governor was a “part-time job.”
The raises don’t go into impact till 2027, when DeSantis will probably be term-limited, although there may be already some hypothesis First Woman Casey DeSantis could run for his job.
Excusable neglect
Jacksonville’s Director of Boards and Commissions Garrett Dennis desires a court docket to vacate a looming default judgment in opposition to his contracting enterprise, looking for an evidentiary listening to and explaining his delay in submitting motions.
“Defendant’s delay to file responses with the court docket on this motion quantities to excusable neglect,” reads the 4th Judicial Circuit submitting from the defendant’s lawyer.
“As established by the Affidavit of Averrell Thompson, Esq. in assist of defendant’s Movement to Vacate Default, the failure to file any paper on this motion was as a result of size of time wanted for defendant to amass the suitable authorized illustration and attributable to not understanding the authorized deadlines of litigation.”
Dennis was a two-term Metropolis Council member who chaired the Finance Committee for one yr, seemingly contradicting the declare that he didn’t perceive the legislation.
The evidentiary listening to is slated for March 1, per somebody linked with this authorized motion.
At problem, as Daring reported final week, is an alleged failure to pay at the very least one subcontractor through his Shifting Gears development firm, which owes McCurdy-Walden, Inc. $80K for a reroof of the BCBS constructing at 532 Riverside Avenue.
Right here’s language from the plaintiff’s lawyer’s demand letter within the ongoing authorized motion that alleges the sub has been stiffed for months.
“Up to now and regardless of repeated demand. Shifting Gears has failed and refused to pay McCurdy-Walden for the work it carried out. To make issues worse, we additionally perceive that Florida Blue has paid Shifting Gears in full for McCurdy-Walden’s work. Please permit this letter to function McCurdy-Walden’s demand that the full of $77,624.00 be paid to it inside 5 enterprise days of the date of this letter.”
Waters whoopsie
The Tributary reports that Jacksonville’s Sheriff is taking some warmth for seemingly contradictory statements relating to a latest settlement.
Officer Josue Garriga “was invited to attend a Could 30 assembly alongside along with his attorneys, Sean Granat and Gaby Younger, each of town’s Workplace of Common Counsel, earlier than a $200,000 settlement … over a police capturing of a FAMU scholar.”
That isn’t what he mentioned final yr when he mentioned he would have pushed this case to trial.
“Whereas JSO is certain by this settlement settlement, I’m deeply disenchanted by the end result of this litigation and JSO’s lack of correct notification by our attorneys,” Waters mentioned in November.
Legislation is now moving to permit the Metropolis Council to mediate disagreements between town’s attorneys and chief legislation enforcement officer over settlements, seemingly flouting the previous warning about too many cooks within the kitchen ruining the meal. The invoice beforehand imagined extra strong veto energy for the Sheriff.
Falling costs
Residence sale costs within the six-county Northeast Florida area took a tumble in January, reflecting state traits, in accordance with a report by the Northeast Florida Realtors Affiliation (NEFAR).
Whereas figures declined, NEFAR officers say the modest lower in house costs reveals indicators of a stabilizing market, which noticed the price of houses skyrocket in 2023.
The median sale worth for a house was $375,000 in the complete Northeast Florida area, a drop of two.2% in comparison with December. The variety of days a home was available on the market elevated to 56, a bounce of 24.4% over the earlier month. Stock additionally elevated to five,638 houses, up by 22.1%.
These indicators level to a extra buyer-friendly market the place 2023 primarily favored sellers. The month-to-month worth lower is an effective indicator for a market that wanted a calm down, mentioned NEFAR President Rory Dubin.
“Throughout a sometimes sluggish January, we now have seen the market stabilization proceed with (a) vital enhance in new listings and stock since December,” Dubin mentioned.
Probably the most vital share drop in Northeast Florida house gross sales costs was in Putnam County, which witnessed a 12.8% decline from December at a median worth of $205,000 in January.
St. Johns County, one of many fastest-growing counties in Florida, additionally noticed median house gross sales costs fall. The St. Johns median house gross sales worth was $519,000 in January, a dip of 6.8% from December.
Duval County, with the biggest inhabitants in Northeast Florida, together with Jacksonville, additionally noticed a fall in median house gross sales costs. Duval witnessed a 2.2% decline in comparison with December, dropping to $324,945 for the median house sale worth.
Baker County additionally dropped median house sale costs to $266,750, a 7.7% decline in comparison with December.
Two Northeast Florida counties noticed modest will increase in median house gross sales costs. Nassau County, which noticed a substantial enhance in house sale costs in 2023, remained comparatively flat in January. Nonetheless, there was a 0.3% uptick in these costs in comparison with December, with the determine at $424,990.
Clay County additionally noticed a bump in median house costs. Clay’s enhance was extra notable than Nassau’s, with the value leaping by 2.9% in comparison with December’s at $360,000.
What to do with Trevor?
The Jaguars offseason will boil all the way down to some key questions. After failing to return to the postseason, 2024 will probably be a pivotal yr for head coach Doug Pederson and his workers. The largest query is what to do with the quarterback.
Will the Jaguars signal Trevor Lawrence to an extension or just choose up his fifth-year possibility?
Getting into his fourth season within the league, Lawrence has proven potential to be one of many high quarterbacks within the league. Nonetheless, his injury-riddled second half of the 2023 season confirmed he wants higher safety and a greater understanding of enjoying in ache. As a first-round choose in 2021, the Jaguars have till Could 2 to train Lawrence’s fifth-year possibility for 2025. The Jaguars should determine within the coming weeks (in the event that they haven’t already) in the event that they need to negotiate a long-term take care of Lawrence now or wait to see how Lawrence performs subsequent season to make him a long-term provide.
There are execs and cons to every strategy.
If the Jaguars provide Lawrence now and he continues on the upward trajectory proven on the finish of the 2022 season and, at instances in 2023, the Jaguars will profit from long-term wage financial savings. Within the brief time period, Lawrence would earn extra on his new deal than he would below his rookie contract, however when in comparison with the going charge of quarterbacks sooner or later, the deal may appear like a discount.
For instance, when Patrick Mahomes signed his second contract with the Kansas Metropolis Chiefs, the 10-year, $450 million deal appeared preposterous. The biggest deal in NFL historical past was structured to permit for better flexibility sooner or later. As a result of the Chiefs locked Mahomes right into a long-term deal, they will borrow in opposition to the “Financial institution of the QB” by restructuring the deal to present Mahomes a brand new signing bonus and reallocating cash below the wage cap in vital years.
All people wins.
That’s if Mahomes performs at an elite degree and there’s no signal of slowing down anytime quickly.
Looking back, signing one of the best participant within the NFL to a 10-year deal was something however preposterous. It was genius.
For the Jaguars to make an analogous resolution with Lawrence, they need to ask robust questions. Extra to the purpose, they need to reply with their heads and never their hearts. Is Lawrence going to be an elite quarterback within the NFL? You may make the case that he has genuinely performed at an elite degree for half a season. He has not been as constant as Mahomes nor different friends like Cincinnati’s Joe Burrow or Josh Allen of the Payments.
If the Jaguars determine they want extra proof earlier than investing in a decadelong contract, they will merely train the fifth-year possibility. That transfer would lock in Lawrence for the 2025 season at round $22 million and assess Lawrence’s worth after the 2024 season.
There are two potential pitfalls to this strategy.
First, Lawrence’s wage cap would practically double from 2024 to 2025. That additionally interprets to nearly 8% of the wage cap tied up in a single participant. For comparability, if the Jaguars permit Lawrence to play on his present wage, he’ll take up simply over 4.5% of the wage cap for 2024.
The opposite hazard is that if Lawrence has a breakout season, the price to signal him for the complete time period of the contract will go up. The Jaguars can get a “discount” in the event that they signal Lawrence to a brand new deal this offseason. With the wage cap anticipated to extend yearly, even a monster deal (like Mahomes) might be checked out positively down the highway.
The Jaguars and Lawrence are each on the clock because the offseason opens.
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