Critics of the way the parking deck project has been handled, including former Mayor Dan Coody and Brian Swain, administrator at Central United Methodist Church, warned Jordan and city aldermen in 2011 that bonds shouldn't be issued until the city was ready to break ground on the deck.

Now, even after bond money is combined with about $970,000 in other parking revenue and the Walton Arts Center's estimated $1.9 million share of a north liner building, city officials are faced with a roughly $3.9 million funding gap.

The Jordan administration's solution?

Use $1.5 million the arts center returned to the city in exchange for City Council approval of new governance documents as well as $2.4 million in general fund reserve.

"None of us would prefer to use the reserves, starting with me," Paul Becker, Fayetteville finance director, said Thursday. "I don't like us using reserves unless it's absolutely necessary."

"However, we have to look at the reality of situation," he said. "We've embarked on the project, and it should be an economic engine for us. It's a one-time expenditure, so it's not reoccurring, ... and it's a project that's going to be a driver for the Dickson Street area. It certainly will be beneficial to the Walton Arts Center, and, at this time, it's the best option for us."

Becker said, after the $2.4 million is withdrawn, about $2.6 million will be left in the reserve fund. About $6 million must be kept on hand as 60 days worth of operating expenses, bring the total in reserve to about $11 million.

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