JACKSONVILLE, Fla — As members of Jacksonville City Council call on JEA to end its exploration of privatization, the two bodies took part in a "fact-finding workshop" at City Hall Monday to discuss the factors that are playing a part in the utility's planning.
The workshop, held by the Committee on the Future of JEA, is one of many scheduled as the utility solicits potential buyers through 'invitations to negotiate.'
Meanwhile, the Florida Times-Union reports that JEA leaders are in Atlanta this week to present to interested parties.
The newspaper says that a document titled "Management Presentation" contains selling points that are being used in the presentations, which refer to JEA as a "unique, best-in-class utility" that is poised for growth.
At the workshop Monday afternoon, Council President Scott Wilson announced that legislation is being drafted and will be presented at Tuesday's city council to bring on a local law firm to serve the city.
Wilson said the firm has the ability to hire utility and environmental experts as the city looks to the future of JEA. Councilwoman LeAnna Cumber questioned the need for "hiring an attorney to hire other attorneys."
Later in the workshop, members of City Council grilled JEA President and Chief Operating Officer Melissa Dykes and Chief Financial Officer Bryan Wannamacher on the utility's need to privatize.
Both Dykes and Wannamacher led a presentation on the utility's need to explore other options for the future, including:
- Status quo: JEA continuing down its current path, which management said could lead to rate increases of 50 percent
- Tactical utility response: using tools available and shifting financial burden off customers, which management said could lead to deep cost cuts
- Community-owned: exploring the potential for the utility to become a co-op, similar to Clay Electric
- IPO: offering the public shares in the utility. Dykes said balancing Securities Exchange Commission regulations with state and local law would be difficult
- Privatization: the path currently being hotly debated which JEA is presenting to investors
Councilwoman Brenda Priestly Jackson is one of the council members calling on the utility to end privatization talks, claiming that the JEA Board failed to file a 30-day provision notifying council members that they would be soliciting interest in potential buyers, known as an 'invitation to negotiate.'
The city’s general counsel said the utility did not act outside their legal authority and ultimately JEA’s board has the final say on ending negotiation talks.
While negotiations with potential buyers have been closed-door up to this point, members of city council are calling for more transparency. JEA would release recordings of the meetings and related documents once a buyer is picked.
First Coast News has a crew at the workshop and will provide updates throughout the day.