Public Hearing: YES ? NO ? Department: Finance
SUBJECT:
Title
Commission District(s): All Commission Districts
Supplemental Resolution approves the final annual installment payments to be made by DeKalb County, Georgia (County) pursuant to the Agreement of Sale between the Urban Redevelopment Agency (URA) and the County related to the acquisition of the 4380 Memorial Drive property.
Body
Information Contact: Dianne McNabb, CFO, and Bob Atkins, Deputy Director of Finance/Treasurer
Phone Number: 404-371-2174 and 678-910-5638
PURPOSE:
Adopt the Supplemental Resolution to approve the final annual installment payments to be made by the County pursuant to the Agreement of Sale between the URA and the County related to the acquisition of the 4380 Memorial Drive property.
NEED/IMPACT:
Pursuant to the Urban Redevelopment Law, O.C.G.A. ?36-61-1 et seq., the County activated the URA in 2010, and the URA is authorized to issue its revenue bonds to finance specified urban redevelopment projects in the County. On May 20, 2025, the Governing Authority designated the property and related improvements thereon located as 4380 Memorial Drive, Decatur, GA 30032 as a "pocket of blight" pursuant to the Urban Redevelopment Law and approved an "urban redevelopment plan" with respect to such property. Adoption of the attached resolution will approve the final annual installments payments to be made by the County pursuant to the Agreement of Sale between the URA and the County for the acquisition the property and related improvements thereon located at 4380 Memorial Drive, Decatur, GA 30032 pursuant to the "urban redevelopment plan."
FISCAL IMPACT:
The cost of the acquisition of the 4380 Memorial Drive Urban Redevelopment Project located in an urban redevelopment area is expected to be paid for with the proceeds of the Urban Redevelopment Agency of DeKalb County, Georgia Revenue Bond (4380 Memorial Drive Pr...
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