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Commission hears plan for Chattanooga Riverfront Parks that would blend $15M state funds with $5M county contribution
Summary
Hamilton County staff presented Resolution 426-22 to authorize an interlocal agreement and spending for Chattanooga Riverfront Parks; commissioners pressed staff on the source of the county’s proposed $5 million contribution and were told multiple funding sources are under evaluation.
Hamilton County introduced Resolution 426-22 to enter a third interlocal agreement with River City Company and the city of Chattanooga to fund design, implementation and construction of Chattanooga Riverfront Parks.
"If you recall a couple months ago, we approved accepting $15 million from the state of Tennessee for this project," staff said, and described a plan in which the county would also contribute $5 million toward the project. "We have been in active conversations about where all we pull those from," said a county official, listing bond funds, fund balance and other options as possibilities.
Commissioner Graham asked whether the $5 million was county money or state money; staff replied the project is a blend of both state and county funds and that staff expects the county’s share could come from several sources, possibly including fund balance or remaining bond issue funds.
No formal vote was taken on the interlocal agreement during the session; staff said the funding plan will be evaluated further and return to the commission for future action.
