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City staff proposes using $12M‑plus surplus for parks, riverwalk and safety projects
Summary
City staff told the committee it has roughly $12 million available from RFFI surplus and proposed reallocating funds to parks (including Freeman Park pool), River District projects, bond closeouts and public-safety facility work; staff also outlined restricted and earmarked sources such as the Alabama Trust Fund and tourism capital.
Carly, a finance staff member, told the committee the RFFI surplus available to spend is "a little bit over $12,000,000," most of which comes from the general-fund surplus after fiscal year 2025. She said small carryovers from completed projects add roughly $201,000 for closeout items and that staff will provide a list of those line items on request.
Staff identified several specific pots of money for reallocation. Carly said the city receives an annual Alabama Trust Fund check — interest from state mineral royalties — of about $800,000, from which a $400,000 debt-service payment is subtracted, leaving an estimated $450,000 that must be used on infrastructure per state law. She also said River District Fund reserves total about $429,000 and that staff is asking to earmark a portion of that balance for River District projects including a parking lot and riverwalk railing replacements.
The presentation noted proceeds from the Hopkins Building sale and bond-closeout surpluses as additional resources. Staff reported Barnes YMCA bond proceeds came in roughly $1.2 million under budget and that Odom Park closeout left about $361,000; staff proposed reallocating those bond surpluses, together with other amounts, toward Freeman Park and pool improvements in a package totaling just under $1.5 million. Carly said the Hopkins Building sale leaves "a couple million dollars" and the packet lists a $3.75 million figure for a gateway/fire-administration item.
Why it matters: the funding plan would move one-time capital dollars to complete deferred maintenance and several visible public projects. Committee members pressed staff on whether shifting responsibilities (for example, assuming park operations previously performed by PERA) would create recurring general-fund costs. Staff said any new operating costs would be covered from the city's designated 15% set-aside of sales-tax proceeds for parks and related services when feasible and that they would first attempt to use existing crews before adding personnel.
Next steps: staff will supply detailed line-item listings for the small closeout balances, confirm the exact amounts available from Hopkins Building proceeds and the River District earmark, and return with ordinance or resolution language at a subsequent meeting for formal approval.
