Up to $12 million looks to be available for needed capital projects. The fates of accounts with possibly $22 million and $8 million aren't yet known.
There are figures floating around in city ledgers showing money that could be spent to repave roads and pay for other infrastructure projects. Whether the money is actually there is a question a City Council group digging into the city’s capital improvement plans hopes to have answered today.
The money is in accounts related to gas-tax revenue meant for projects and there’s a chance it’s actually there to use, said Lori Boyer, chair of the council’s Capital Improvement Plan subcommittee. There’s also a chance it’s sloppy bookkeeping, with the money already pledged to other needs or debt.
Boyer said Wednesday she’s been told up to $12 million could be real and spent on projects like intersection improvements and railroad crossings.
“That’s great news,” Boyer said. “Once that’s clear … we have a list of projects, projects waiting in all those categories.”
The finance department still needs to confirm the money is there, she said, which could happen today when the group meets.
There’s still no answer on the other potential pots of money, one being $22 million and another with about $8 million, she said, but the hope is today brings further clarity.
During the budget process, Mayor Alvin Brown sought to borrow from the city’s banking fund for new projects as part of his infrastructure spending. Council declined, instead putting off new spending and minimally borrowing for some items like road repaving and IT.
Boyer said with accounts showing the possibility of funds remaining, she wants to be sure it’s available before the city takes on new borrowing.
“Until somebody tells me it’s not really there, I’d rather spend that,” she recently said.
Once it’s determined how much actually is available, Public Works will create a list of projects and a spending bill will have to be approved by council.
Council member Reggie Brown has participated in the past several meetings. There’s been “great needs,” he said, especially in areas like sidewalks, roads and drainage. If any money is there that members didn’t know about, it should be spent as soon as possible.
The possible discovery is just part of the roller coaster the committee has seen since it started meeting late last year, Boyer said.
Initially, the group met to gather information about the city’s project list through the years, with a special focus on Better Jacksonville Plan projects. Members were told it was up to possibly $30 million in the hole and the plan itself — funded from a sales tax — didn’t have a positive cash flow.
So, the group went to work and began closing project accounts because there was no money.
Then in early December, the group was told the plan had a positive cash flow in the $13 million to $16 million range. After debt service and other related items are paid, the plan could be in the black as soon as 2016.
“When the numbers change that dramatically, it’s hard to know what to go on,” Boyer said. She said the group hopes to wrap its work — a cleaned-up spending plan — in the next couple of months. The timing would allow legislation to be filed and approved before the current council’s term ends June 30.
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