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That's not alot of money anymore.
Around me, the biggest issues are homelessness and drug use. Millions won't solve either but could put a bigger dent, long term, in the housing issue.
I think I'd build a bunch of low cost houses, in the sub $100k range if possible. They wouldn't be mansions by any stretch but it might put a dent in the housing market.
Yeah, to a modern urban government, millions are a pet project, it's when you start saying what portion of a billion it is that it's a real line item
That said, to a rural government the mayor can break the finances of a town for years by buying new fire trucks before the old ones need replaced. At least according to a rural mayor I spoke to at a party years ago.