JIA to Present 2019 Budget

The Jekyll Island Authority meets tomorrow morning at 9:30 at the Morgan Center on Jekyll Island. The fiscal year 2019 budget will be presented for a vote. The balanced budget assumes $30 million in revenues with designated fund contributions of $1.2 million to tourism development, water and sewer, fire dept. equipment, and the Mosaic museum, and an additional $338,000 for cash reserves. The Authority also will consider a lease assignment of the Hampton Inn ground lease to the Peachtree Hotel Group. The Peachtree Hotel Group is currently under contract with JOO Hotel & Associates, LLC for the purchase of the Hampton Inn & Suites. This transaction is contingent upon the Jekyll Island Authority approval of the assignment and assumption of the ground lease.