JACKSONVILLE, Fla. – Mayor Lenny Curry’s plan to pay off the city's $2.8 billion pension debt took another step forward Monday.
The board of the Police and Fire Pension Fund and its financial committee both voted unanimously to approve the segment of the plan that deals with the projection of revenues from the local half-cent tax that will be used to pay down the deficit.
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While there was a discussion on studies that show the mayor might be too optimistic when it comes to how much revenue the tax will raise, the board decided to agree with city attorneys and approve the projections, which will now go to City Council.
A public hearing will be held at Tuesday night's council meeting.
But the multi-decade, multi-billion plan is far from being approved. Another council workshop will be held Wednesday and the Police and Fire Pension board will meet again next Monday to offer its opinion of the plan.