In the early 1990s, with the resolution of the Cold War and the fall of the Soviet Union, plus impending defense budget cuts, the Charleston Navy Base was proposed for closure. In 1993, the Charleston Naval Base was given a closure date of April 1, 1996. Given its annual expenditures of approximately 1.4 billion dollars in the region, the base's closing represented a major loss of jobs and a blow to the entire Tri-County economy. Over the years, billions of federal dollars had flowed into the region's economy and hundreds of thousands of jobs were filled by military and civilian personnel, the vast majority being civilians. Many military personnel who worked at or passed through the base returned to the city to retire. Following the closure of the Charleston Naval Base and the Charleston Naval Shipyard, parts of the base and dry-docks were leased out to various government and private businesses. Community parks for North Charleston were established on old base grounds, to include Riverfront Park.