Consider recommending approval of a budget adjustment for flood recovery funds made available through NMFA loan PPRF-07035.

Initiated by Mac Rogers:

$25,000,000.00 was made available to the City with the closing of the flood recovery bonds completed on September 9,2026 . Principal and interest payments will commence on June 1, 2027 and the City has three years to spend the bond proceeds. Flood Recovery GRT revenues can only be spent on debt service. This request is for approval to budget funds for the following obligated/approved projects where FEMA has agreed to reimburse 75% of the total project costs:

FEMA Project 950946, Spring & Hondo Riverbank Slope Repairs
FEMA Project 951173, Walking & Bike Trails
FEMA Project 806261, Convention & Civic Center Damages
FEMA Project 951175, Spring River Golf Course Damages
FEMA Project 950953, Pks & Rec- River Fencing Damages
FEMA Project 806258, Roswell Adult Center 50% Rule Replacement
FEMA Project 950922, Parking Lot Repairs

Financial Impact (Revenue & Expenses): Budget Adjustment Needed

Revenue - FEMA (2603-489100): $18,218,869.24

Expense - FEMA Capital Outlay Infrastructure  (26033005-817504): $ 9,937,188.75
                  FEMA Capital Outlay Buildings (26033005-817506): $ 5,890,334.72                  
                  FEMA Capital Outlay Land Improvement (26033005-817508): $ 2,391,345.77

Not applicable for this agenda item

This is the first Council consideration of this item

Staff recommends approval