Hoover in 'strongest financial position' ever, mayor says in 2023 state-of-the-city address

The city of Hoover had a stellar year in 2022 with strong economic growth and is poised to continue adding new amenities to bolster the quality of life in the city, Mayor Frank Brocato shared in his annual state-of-the-city address Wednesday.

The city’s Building Inspections Department issued more than 6,000 construction permits valued at almost $600 million in 2022, Brocato told about 225 people during his speech to the Hoover Area Chamber of Commerce at the Hyatt Regency Birmingham — The Wynfrey Hotel.

That included 317 construction permits for new homes valued at more than $195 million, Brocato said.

The Birmingham Business Journal recently included eight Hoover companies in its list of the 30 fastest growing companies in the metro area for 2022. One of those was Lake Homes Realty, which plans to create 400 new jobs over the next several years, 300 of which will be in newly built out space at Meadow Brook Corporate Park.

The mayor also noted that McLeod Software, which several years ago bought and renovated another building in Meadow Brook Corporate Park, has grown to more than 675 employees and continues to expand its workforce.

Civitan International, an organization with more than 30,000 members worldwide, also moved its headquarters to Meadow Brook, and Revere Control Systems is relocating its headquarters from Rocky Ridge Road to John Hawkins Parkway and adding 50 new jobs, the mayor said.

He also noted growth at BioHorizons, one of the largest suppliers of dental implants in the world, and BioCryst Pharmaceuticals, which is developing life-saving medicine for rare and serious disease. Both of those companies are based in the Riverchase Office Park.

Meanwhile, the city’s economic development team, which includes a couple of new development boards, is making plans to transform some of the office parks in the U.S. 280 corridor into multi-use economic and innovation districts and to establish guidelines to help give some of the city’s commercial areas a more cohesive look.

While the city is putting a lot of focus on expanding its technology and life science sectors, it hasn’t forgotten its strong retail roots, the mayor said.

“Retail is alive and well in the city of Hoover, Alabama,” Brocato said. “Hoover continues to be a retail destination in our state.”

The city approved more than 1,000 new business licenses in 2022, which is a testament to its economic vitality, the mayor said. A lot of those businesses were retail stores, restaurants and service providers such as doctors and dentists, he said. The city gained its first brewery — Brock’s Gap Brewery — in Trace Crossings.

The Riverchase Galleria continues to be a shining star, Brocato said. A lot of people have expressed concern about the former anchor store spot formerly occupied by Sears and another large empty space formerly occupied by Belk, but the owners of those sites are both in the final stages of leasing out the entirety of both sites, Brocato said.

The Galleria’s revenues per square foot are the highest they have been in seven years, the mayor said.

The city also is working with the owner of the Patton Creek shopping center to redesign that center into more of a town square that includes a new arts center and 3.4-acre park in front of the arts center that includes a small outdoor amphitheater.

And Broad Metro this fall broke ground for a new Village Green amphitheater and entertainment area in Stadium Trace Village.

New development continues coming as well. Signature Homes, Marbury Properties and CCN Asset Management have started developing the new Everlee community off Alabama 150 between Lake Cyrus and Ross Bridge. The 833-acre development is slated to include more than 2,300 houses and more than 100,000 square feet of commercial space.

Signature Homes and Terra Equities are working to develop 15 acres off U.S. 280 for 120 townhomes and 30,000 square feet of commercial space.

GOVERNMENT FINANCES

The government of the city of Hoover also is strong financially, Brocato said.

“We’re in the strongest financial position we’ve ever been in our city.”

The city ended fiscal 2022 with record revenue collections of almost $157 million. That was $34 million more than expenditures, which gives the city money for capital projects and potential debt retirement, Chief Financial Officer Tina Bolt told the City Council Tuesday night.

The mayor noted the City Council in June approved a policy to bolster the city’s general fund reserves so they can cover six months’ worth of expenses. The council also set up a “rolling reserve” account to help the city more easily weather potential economic downturns or emergencies if they occur in the future. That policy requires the council to predict a 4% increase in revenues for each budget year and to spend only 70% of that increase and save the other 30% in a budget stabilization fund.

The council’s fiscal responsibility has helped create a predictable business climate and business-friendly atmosphere that is attractive for companies, the mayor said. The city’s economic development team also has done a lot of work to help new businesses get started and nurture them as they grow, he said.

The mayor also talked about the important work that the National Computer Forensics Institute is doing at the Hoover Public Safety Center to train law enforcement and judicial personnel across the country how to fight cybercrimes.

This year, the institute, run by the U.S. Secret Service, will begin a multi-year $23 million expansion that should allow the number of people it trains in Hoover to grow from about 4,500 a year to nearly 10,000 a year, Brocato said. The institute has a $6.5 million impact on the economy each year, he said.

QUALITY OF LIFE

Brocato also took time in his speech to highlight how city officials are working to maintain and improve the quality of life in the city.

Public safety is a critical area, and both the police and fire departments have undergone rigorous self-assessments in recent years to achieve accreditation by national agencies, Brocato said.

The Fire Department in 2021 was accredited by the Center for Public Safety Excellence and in November had its Class 1 rating affirmed by the Insurance Services Office, the mayor said. Meanwhile, the Police Department in November earned accreditation from the Commission on Accreditation for Law Enforcement Agencies, becoming one of only 13 in the state to do so.

These efforts help ensure that Hoover’s public safety workers have the tools, training and best practices in place to serve the public with excellence, the mayor said.

The city, with financial help from Signature Homes, is putting together a comprehensive plan for its parks and recreation system, evaluating the current inventory of parks, facilities and programs and determining desired areas for expansion.

The city continues to reinvest in its current parks and look for additional land to add more amenities, the mayor said.

In January of last year, Signature Homes donated 43 acres of parkland along the Cahaba River in Trace Crossings, with 5 miles of hiking and biking trails developed, along with a pavilion, two restrooms and a gravel parking area. The park, called Flemming Park on the Cahaba, is the first phase of what will be 130 acres of parkland stretching 3 miles along the river.

Another project on the horizon is a joint project with Hoover City Schools to add artificial turf on 11 athletic fields owned by the city and school system. The city plans to invest an estimated $9 million to put turf on seven fields in city parks and the varsity baseball fields at Hoover and Spain Park high schools, and the school system is adding turf to the varsity softball fields at the high schools.

Other projects coming soon include a new pavilion at the Bluff Park Community Park, upgrades to Russet Woods Park and a facelift for the vestibule at the Hoover Senior Center, the mayor said.

The Hoover Public Library also continues to be a bright spot for the community, Brocato said. He noted the continued success of the Hoover Library Theatre and Southern Voices Festival at bringing in top-notch performers and internationally acclaimed authors.

Hoover in April was named by rent.com as the fourth best city in the country for book lovers, mostly because of the Hoover Public Library. The website cited the Library Theatre, concerts on the Library Plaza, board game nights, craft activities, book clubs, homework help and technology resources as positive features.

“Hoover’s been a great place to live since it was founded in the ‘60s, and it’s getting better,” Brocato said. “We’re an economic engine for the region and the state. [But] we will not rest on our laurels. We’re planning and investing in our future to make sure we’re a great place to live for the next generation, so our kids and grandkids have economic opportunity and can choose to continue to call Hoover home.”