JULY 18 TO JULY 24, 2024 | JAXDAILYRECORD.COM
BUSINESS & LEGAL NEWS IN BAKER, CLAY, DUVAL, NASSAU AND ST. JOHNS COUNTIES
DEEGAN: $1.92B BUDGET FOCUSES ON ‘VITAL’ NEEDS
INSIDE
ST. JOHNS COUNTY
Rum-themed restaurant, distillery and more in works PAGE 8
DOWNTOWN
City of Jacksonville
Jacksonville Mayor Donna Deegan presents her proposed $1.92 billion 2024-25 budget to City Council on July 15 at City Hall.
The mayor’s 2024-29 Capital Improvement Plan includes $489 million in first-year spending on projects; no tax increase. BY RIC ANDERSON ASSOCIATE EDITOR GOVERNMENT AFFAIRS
D
espite budgetary pressures that include meeting rising demand for city services in the face of a shortfall in projected property tax revenue and the depletion of federal pandemic relief funding, Jacksonville Mayor Donna Deegan is challenging City Council members to increase city spending in the coming fiscal year. On July 15, Deegan presented Council a proposed $1.92 billion 2024-25 budget that exceeds the 2023-24 version by nearly $164.49 million. She also presented a $1.95 billion 2024-29 Capital Improvement Plan that includes $489 million in first-year spending, a more
than $65 million increase over first-year expenditures in the current CIP. Council will analyze the proposed budget and CIP in the coming weeks. A final Council vote is expected in September in advance of the start of the city’s fiscal year Oct. 1. Deegan’s second proposed budget and CIP came after a fiscal year in which the city’s ad valorem (property) tax revenue grew by $73 million but was $62 million short of projections, according to a fact sheet provided by Deegan’s office. Meanwhile, the city faces an increase in spending for infrastructure improvements and city services amid population growth of 17,000 people in the past year, Deegan said. Also, the city enters its 2024-25 fiscal
SUBSCRIBE NOW!
ONLY $5 FOR 2 MONTHS CALL TODAY 877-231-8834
or email subscriptions@jaxdailyrecord.com
INTRODUCTORY OFFER
Wells Fargo name flies off signature building PAGE 4
On the rise
9.1% Increase in the proposed $1.92 billion city budget over last year’s $1.76 billion spending plan.
9.3% Proposed increase in the JSO’s budget to a total of $640.2 million. Could rise to $680 million if union deal is approved.
SEE BUDGET, PAGE 10
THE BASCH REPORT
Cenntro’s sales fell far short of predictions The electric vehicle company that says it is “winding down” its Jacksonville operations said it would sell 74,800 vehicles in 2023, but sold only 1,135. PAGE 6
INSIDE Budget breakdown. Page 10 How it’s grown. Page 11
THE MATHIS REPORT
What’s in store as Aldi moves in The German grocer is beginning its first Northeast Florida conversion after buying the parent company of Harveys and Winn-Dixie. PAGE 12 RESTAURANTS
Caddyshack sticking at WGV The restaurant owned by the brother of Bill Murray signs a 10-year lease. PAGE 3
VOLUME 111, NO. 36 | TWO SECTIONS | PUBLISHED SINCE 1912