Facing a looming deadline, the Anniston City Council held an unscheduled meeting Wednesday to approve stimulus-funded projects — including a local company’s request for $4.9 million to refurbish one of the city’s most notorious landmarks.

James A. Lloyd, a representative of Watermark Tower LLC, asked the council to set aside millions in stimulus funds for a facelift for the Watermark Tower — the fire-damaged structure known to most Anniston residents as the AmSouth Building.

Watermark currently owns the building, and Lloyd presented the council with a plan to restore the building with a new look that would mimic the appearance the tower had when it was built in the 1920s. Lloyd asked the council to earmark $4.9 million in stimulus funds to help Watermark finance the rebuilding project. Lloyd said the project has already been turned down by five banks.

The request came with a deadline. The Calhoun County Commission must report on its plans to use certain stimulus funds by April 30 or surrender those funds to the state government. Lloyd asked the City Council to make an appeal to the commission to set aside the funds as soon as possible.

“ The commission meets [today] so this is our last chance to keep these funds in the local area;” Lloyd said.

But council members were wary.  Councilman Ben Little said Lloyd had "ambush[ed] us at the 11th hour.”  Other council members expressed frustration at having little time to deliberate the proposal.

Under the proposal, Watermark would have until July 31 to show that it can sell bonds to support the refurbishment, or it would lose the stimulus funds.  Council members asked Lloyd and city staff if the city could be liable for the $4.9 million if Watermark failed to secure support for a bond issue.  City finance director Danny McCullars told the council that the $4.9 million would simply be returned to the state if Watermark didn't make its deadline. McCullars said, “That’s my belief.”

         But members of the County Commission staff sitting in the audience consulted with McCullars who returned and said he could no longer be sure his earlier statement was correct.

Councilman Herbert Palmore said hadn't even known Watermark owned the former AmSouth building.

"I'm not comfortable with this," Palmore said. "My impression until now was that the water company (the Anniston Water 'Varies and Sewer Board) owns the building."

Lloyd said the Water Works bought the building after it burned in 2003, then sold it in 2005 and has been renting space in the building from Watermark since November.  Lloyd said he is a former Water Works board member, and he said he recused himself from the board to work as a contractor on a refurbishment project.

Councilman John Spain initially praised Lloyd for working to refurbish the structure.

"This building seems to be a symbol of the success of Anniston," Spain said.  "It’s an eyesore, and it’s what people see as they approach the city, which is unfortunate.”

Spain made a motion to request a set-aside of stimulus funds for the project, but after much debate about the city's potential liability for the money, Spain amended his motion.  He added wording that would immediately withdraw the city's request for funds if Watermark fails to show "proof positive" that the city is not liable.

The council held a roll call vote. Little and Palmore voted against the measure, and Spain and Councilman David Dawson voted for it. Asked for his deciding vote, Mayor Gene Robin- son paused" faintly uttered "damn it" and then voted for the measure,

The County Commission take up the matter in its meeting today.