Mike Weinstein retiring after high-impact career at Jacksonville City Hall
Weinstein, who ran unsuccessfully for mayor in 2003 and served as finance director for three different mayors, got plaudits Monday from Mayor
"He's been instrumental in a lot of big changes in local government," City Councilman
Crescimbeni said Weinstein and veteran city administrator
Most recently, Weinstein came up with the idea for using future revenue from a half-cent sales tax to help pay for the city's pension obligation, a concept that Curry embraced and carried to a successful outcome by winning support from voters in a 2016 referendum.
"There was no simple solution," Weinstein said. "We owed billions of dollars, and we couldn't solve it without some effort. I think it was the least painful, smoothest solution that we could come up with."
Financial rating analysts aren't completely sold on the approach. Fitch Ratings said in an August report that securing a dedicated funding source for pension debt is positive for the city. But Fitch said the city's assumptions for future sales tax growth are "somewhat optimistic" and could affect city finances down the road.
Weinstein said so far, sales taxes are growing at a faster rate than projected. Investment returns for pension funds also have beaten targets. The half-cent sales tax for pension costs will start bringing in money when the half-cent sales tax for the Better Jacksonville Plan terminates by the end of 2030.
Weinstein said the Better Jacksonville Plan sales tax could end one or two years earlier than 2030, in which case the money will start flowing sooner for pension debt. When the cash starts coming in, Weinstein said, "I think everyone will be even more comfortable" with the city's approach, which shifts a chunk of the pension obligations into the future.
"It was outside the envelope, and that's why so many of the reviews of it are somewhat cautious, but it's working," Weinstein said.
His own career in city government has likewise been "outside the envelope."
He actually is an attorney and logged 20 years in the
"I like and enjoy figuring out how to make big, complicated things happen," Weinstein said. "I'm more of an idea person than a number person."
Weinstein worked with Austin on the River City Renaissance Plan. When
Weinstein, 69, came out of retirement in 2015 when Curry hired him as finance director. Weinstein said he originally offered to work as a volunteer on pension reform when he met with Curry to talk about tackling the city's huge pension debt by extending the existing half-cent sales tax from the Better Jacksonville Plan. Curry asked him to come back full-time to
"I said 'no' a couple of times and finally said 'yes,'" Weinstein said.
Curry on Monday called Weinstein a "trusted adviser and friend."
"His expertise and depth of knowledge helped me prepare balanced budgets that met our city's priorities, create a solution to the pension crisis, and set
Weinstein's career intersected with
He was the original director of the
Weinstein ran for mayor in 2003, finishing third in the campaign won by
Weinstein later won election to the state
His retirement pegs his last day at the office as
"I'm convinced, as well as I know Mike, that even if he doesn't show up every day, he's not going to walk away from it all," Bowman said. "He will continue to be a big part of the city."
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