Montego Bay mayor seeks private partners to optimise SJMC assets

According to Jamaica Observer (General News), ST JAMES, Jamaica — As part of efforts to optimise assets owned by the St James Municipal Corporation (SJMC), Mayor of Montego Bay Councillor Richard Vernon said the corporation is exploring public-private partnerships (PPPs). Speaking during the corporation’s public budget forum last Thursday, Vernon said the SJMC is seeking to raise $450 million through this avenue to support its capital expenditure programme. “I am issuing a direct open invitation this evening to our private developers, our financial institutions and our local entrepreneurs. Come to the table; let us discuss business,” Vernon declared. “Our doors are wide open for serious dialogue regarding strategic real estate ventures and public-private partnerships,” he added. The mayor was outlining the corporation’s plans to undertake $1.086 billion in capital expenditure during the 2027/2028 budget period. He said the funding w