Financial Crisis for Jacksonville

JACKSONVILLE, FL -- The City of Jacksonville is going through a financial crisis. According to a new JCCI study, the city is facing a financial crisis bigger than many thought.

JCCI does studies on the state of Jacksonville. It does an annual report on the quality of life and race relations. It has also looked into infant mortality.

JCCI's latest study focuses on the city's financial problems and how to solve them. It is divided into two parts: "Jacksonville's Financial Crisis" and "The Public Trust."

The Deputy Director for JCCI, Ben Warner, told First Coast News the long term capital debt is $2 1/2 billion. He says this means Jacksonville is about at its limits of new debt it can take in.

Bottom line, Warner says the River City cannot do business as usual. He says changes will have to be made.

He suggests cuts and/or tax increases. Warner says city leaders and the community will have to decide the role of the government and what kind of services should be expected from it. He says they will have to decide if some services need to be cut or the city has to find a way to get more money.

You can take a look at the entire JCCI study. First Coast News will have much more on First Coast News starting at 5.

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