Jacksonville City Council leaders question using pension assets to fund Jaguars stadium
A novel proposal from the Mayor’s Office to finance at least some part of the expected renovations on Jacksonville’s municipal stadium is raising doubts in the executive branch.
City Council President Ron Salem told Florida Politics on Saturday that he had serious questions about a move being explored by the Donna Deegan administration to borrow from the pension fund’s assets to fund the renovation costs that could approach a billion dollars.
“I am concerned that we are negotiating raises at the same time as this issue has surfaced. In addition, I want to understand the cost savings of borrowing from the pension fund vs borrowing the money in a traditional fashion. There is significant work...
