City of Longview seeks $12M grant to complete trail system

Longview News-Journal
By Yoleyne Romero yromero@news-journal.com
March 24, 2023 at 07:16AM

The city will apply for a $12 million grant that would complete Longview's extensive trail system.

Laura Hill, the city's Grant and Human Services director, talked to the City Council during its Thursday meeting about the future of Longview's trail system.

"The U.S. Department of Transportation issued a call for projects, and we have applied ... for funding to extend our trail system and actually complete the 2007 Master Trail Plan which will take Paul Boorman trail from Highway 80 south all the way down to the loop out by Komatsu," Hill said. 

The grant would not require any match from the city.

Information from the city states the funds would help the city develop effective means for crossing U.S. 80 and the railroad tracks that create a barrier from east to west as well as continue trails south through the Longview Arboretum and Nature Center and The Green, beneath Texas 31, past Stamper Park and continue along the Grace Creek floodplain to end at S. Loop 281.

"Finally, it would allow the city to prepare for future funding and construction opportunities similar to grants that provided for the Cargill Trail/Guthrie Trail/P.G. Boorman Trail linkage," according to the city.

In other business Thursday, the council also OK'd Partners in Prevention accepting a $42,000 grant for its Aspire Mentoring Program. The funds will be used to provide 30 mentors to 30 youths who are part of the program. Specifically, funds will provide mentor training materials, program supplies and personnel.

Also Thursday, the council heard from Will Harrell, vice president of Investments of Robert Harrell, Inc., who presented investment updates related to the Longview Fire Fighters' Relief and Retirement Fund. 

In May, voters approved a $45.6 million bond measure to address unfunded liabilities in the fund.

According to Harrel, the bond was invested in three parts in July, August and September to mitigate as much risk from timing as possible, he said. This worked out in the city's favor since two of three parts hit at the bottom of the market, he said. 

"So the amount of securities, bonds, etc. that that money was able to purchase was much larger than it had of been, say, just at the end of '21. It would've been much a different scenario had the bond been issued toward the end of '21," he said.

From July through February, the assets have grown 5.06%, which is net of all fees, contributions and withdrawals, Harrell said. That means the portfolio has grown 4.4%, or roughly $5 million from its starting point. 

He also referenced the negative cash flow that was first discussed in a council meeting earlier this year. He said it is running at $200,000 to $300,000 a month, but the investment performance far outweighs that deficit and makes up for it. 

He expects the portfolio to maintain its current health, adding that it's monitored closely and changes are made as necessary.