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

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:
 

Number	Title	Budget Amount	Account Number
950946	Spring & Hondo Riverbank Slopes	$ 8,414,905.50	26033005-817504
951173	Walking & Bike Trails	$ 1,522,283.25	26033005-817504
806261	Convention & Civic Center Damages	$ 4,916,117.42	26033005-817506
951175	Spring River Golf Course Damages	$ 550,133.00	26033005-817508
950953	Pks & Rec- River Fencing Damages	$ 896,780.77	26033005-817508
806258	Roswell Adult Center Replacement	$ 974,217.30	26033005-817506
950922	Parking Lot Repairs	$ 944,432.00	26033005-817508

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 (26033005-817503): $ 5,890,334.72                  
                  FEMA Capital Outlay Land Improvement (26033005-817508): $ 2,391,345.77

Not applicable for this agenda item

Infrastructure Committee voted 5-0 to send this item to Finance.

Staff recommends approval