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Committee approves emergency measure for JAXPORT power-line project after cost surge
Summary
A committee passed an emergency ordinance amending the city's share of a power-line raising project with JAXPORT and JEA after design updates increased the estimated total cost to about $117 million.
A TEU committee approved an emergency ordinance as amended that revises the city's contribution toward a power-line raising project serving JAXPORT after project cost estimates increased significantly during design.
Joey Grivy, chief financial officer for JAXPORT, told the committee that earlier planning estimated the project at roughly $45 million; updated design and engineering raised the cost to about $117 million. "As we moved into further along with design and engineering, they got updated quotes...that put the total project cost in at a hundred and 17,000,000," Grivy said. Under the revised funding plan described to the committee, the state would contribute $22.5 million, JEA would contribute $32.5 million, the port would contribute $32.5 million, and the city would adjust its prior mix of grants and loans to a grant-based approach with a $5,000,000 revolving line of credit as a potential contingency.
The committee approved the emergency as amended by voice and ballot; the final recorded tally was 5 yeas, 1 abstention. Councilman Mike Gay announced on the record that he would abstain because his business could potentially be involved in the project.
An amendment attached a revised budget transfer (BT) and included language that a $3,500,000 transfer "is intended to be replenished with the contribution from JEA next year as an aspirational goal," according to Edward Linsky of the council auditor's office. Linsky told the committee the amendment attaches a revised exhibit and clarifies that the $5,000,000 line of credit would only convert to a grant if project costs exceeded the currently budgeted amount.
Grivy said the revised funding plan is the result of negotiations among the mayor's office, JEA, the port and state partners. "It's a very, balanced funding approach across the 4 different parties that are participating in the project," he said.
The matter will return for full council consideration on the regular agenda; committee sponsors described the amendment as nonbinding on future budgets beyond the legislative revisions and said replenishment of reserves would depend on next year's budget decisions.
