ROSWELL NEW MEXICO
AGENDA ITEM ABSTRACT
AGENDA ITEM ABSTRACT
Item No. 7.
Regular City Council Meeting
- Meeting Date:
- 10/08/2026
COMMITTEE:
Finance
CONTACT:
Tammi Smith
CHAIR:
Kurt Gass
ACTION REQUESTED:
Approval of a budget adjustment for flood recovery funds made available through NMFA loan PPRF-07035. (Gass/Rogers)
BACKGROUND:
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:
$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 CONSIDERATION
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
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
LEGAL REVIEW:
Not applicable for this agenda item
BOARD AND COMMITTEE ACTION:
Infrastructure Committee voted 5-0 to send this item to Finance.The Finance Committee recommended approval 5-0 at its meeting on October 1, 2026.
STAFF RECOMMENDATION:
Staff recommends approval