MONDAY August 5, 2019
Public legal notices begin on page 3
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Daily Record JACKSONVILLE
‘IMAGINE BEING Daily Record JACKSONVILLE
A DEBT-FREE CITY’
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Buc-ee’s is developing a 104pump gas station and convenience store in St. Johns.
Daily Record Daily Record JACKSONVILLE
JACKSONVILLE Mayor Lenny Curry explains how he’d spend a $3 billion windfall if the city-owned utility is privatized.
Buc-ee’s files more plans for St. Johns
The Texas-based convenience store chain proposes traffic improvements at I-95 and International Golf Parkway. BY SCOTT SAILER STAFF WRITER
BY MIKE MENDENHALL STAFF WRITER
M
ayor Lenny Curry said Thursday he would propose paying off Jacksonville’s $2.2 billion debt if city-owned utility JEA is sold. The JEA board voted July 23 to give CEO Aaron Zahn the authority to explore avenues of privatizing JEA, including becoming a privately held or investor-owned company; evaluating an initial public offering making JEA a publicly traded company; or converting into a customer-owned utility.
Any deal to privatize JEA would have to pay the city at least $3 billion, according to the resolution approved by the board. Curry would use the money to eliminate $1.1 billion in general and enterprise debt and $1.1 billion in Better Jacksonville Plan debt. “Imagine being a debt-free city. We would be the lowest-risk city to invest in in the country,” Curry said. “Maybe one of the lowest in the world. It would be a game-changer in what our city would look like facing the world.” Curry said eliminating the debt would free up $232 million in annual debt ser-
vice payments and “more than replace” JEA’s annual contribution to the city — projected at $118 million in fiscal year 2019-20. The remaining $800 million, Curry said, could be “thrown into a lockbox” with interest becoming another revenue source for the city. Any decision to privatize JEA must be approved by City Council and Duval County voters. Ordinance 2018-141-E, approved in November, requires a voter referendum SEE CURRY, PAGE 2
Buc-ee’s, the Texas-based gas and convenience store chain, submitted more plans for the 104-pump station it wants to build off Interstate 95 in St. Johns County. The company filed additional engineering plans with the St. Johns River Water Management District for roadway improvements next to the proposed travel center at southeast International Golf Parkway and World Commerce Center Parkway. The site is west of I-95. Traffic improvements include: n Construction of new turn lanes on International Golf parkway and World Commerce Parkway. n Construction of new turn lanes on the I-95 off-ramps. n Milling and resurfacing the existing roadway. SEE BUC-EE’S, PAGE 2
Land sold for Jacksonville Beach SpringHill Suites The proposed SpringHill Suites by Marriott hotel is a step closer to development along the Jacksonville Beach oceanfront. Jax Pier Lodging Group LLC bought the 0.99-acre property Tuesday at 412 and 422 N. First St. next to the Jacksonville Beach Pier. Chattanooga, Tennesseebased hotel developer Hiren Desai, manager of the Jax Pier Lodging Group, paid $6 million for the property that comprises The Pier Cantina & Sandbar restaurant and surface parking. The seller was 412 Boardwalk Inc. and 422 Boardwalk Inc., led by Chris and Elias Hionides.
VOLUME 106, NO. 183 • ONE SECTION