Members of the Montgomery City Council delayed moving forward on Tuesday with plans to borrow $375 million for a downtown convention center expansion and other city projects.
The city council split 4-4 on a resolution expressing official intent to issue up to $375,000,000 in tax-exempt general obligation warrants, series 2026B.
Since it was the first time the resolution had appeared on the council's agenda, it needed unanimous consent to pass on Tuesday. Since it didn't get unanimous consent, the resolution will be voted on at their next meeting.
Franetta Riley, CC Calhoun, Oronde Mitchell and Andrew Syzmanski voted in favor of suspending the rules on Tuesday to pass the measure. Ed Grimes, Julie Beard, Glen Pruitt and Charles Jinright voted against suspending the rules.
According to city officials, the proposed bond program would be used to pay borrowing fees and fund:
- Convention Center expansion
- Housing infrastructure improvements
- A new sports complex and amphitheater
- City facility and service enhancements
- Neighborhood improvement projects across Montgomery
According to the city's estimates, $200 million of the $375 million debt would go towards expanding the convention center.
"Montgomery is at an important moment in its history," Montgomery Mayor Steven Reed said in a statement on Tuesday. "As our city continues to grow and compete for jobs, visitors and private investment, we must also invest in the infrastructure, facilities and neighborhoods that support that growth. This proposal represents a long-term vision for building a stronger, more competitive and more vibrant Montgomery."
Grimes said at the meeting that the bond plan was using "very vague details."
"It's a ton of money. If we borrow $375 (million), we'll be real close to our legal limit. We'll probably borrow more money than this city has ever seen. It's a scary thing. These are very vague details," Grimes said.
Calhoun said the proposal would help attract concerts and events to Montgomery by expanding capacity.
"We don't have no where that people can sit," Calhoun said. "When we talk about expansion, these are the things that we need to do. 100% of people aren't going to agree on nothing that you do. I've heard everybody. I've made my statement. We are going to call for the vote. Vote your conscience. Get your projects or don't."
Pruitt said he wanted more time to discuss the proposal.
"I think from my perspective, it's the convention center that's the sticking point. Right, wrong, or indifferent we were sold a bill of goods on (Montgomery) Whitewater," Pruitt said. "It was going to print money for us and be great…it failed or is failing today. I just want to make sure, Mayor, I just think two weeks where we could sit down and talk to you and make sure that we are all comfortable or not comfortable, I don't think that's the end of the world."
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