That’s the message that city officials probably heard when they learned that The Birmingham Fund had lost $10 million in the last six months. The sobering news may provide support to the Birmingham City Council‘s plans to not pledge money to support projects recently presented by Mayor Langford, including several that have been presented to council twice in recent weeks, though according to reports the account is still outperforming the benchmarks set for it.
The council’s current approach will face a challenge if Senator Shelby is successful in getting more monies appropriated for a mass transit solution here in metro Birmingham. The current $100 million will be forfeited soon – for several reasons. It will also face some challenges if stimulus monies are received for projects.