Public Hearing: YES ? NO ? Department: Finance
SUBJECT:
Title
Commission District(s): All Commission Districts
Resolution authorizing the Intergovernmental Agreement of Installment Sale between DeKalb County, Georgia and the Urban Redevelopment Agency of DeKalb County, Georgia, related to the financing of the acquisition of 4380 Memorial Drive.
Body
Information Contact: Dianne McNabb, CFO, and Bob Atkins, Deputy Director of Finance/Treasurer
Phone Number: 404-371-2174 and 678-910-5638
PURPOSE:
To adopt a Resolution authorizing execution of an Intergovernmental Agreement of Installment Sale between DeKalb County, Georgia and the Urban Redevelopment Agency of DeKalb County, Georgia ("URA") for the purpose of acquiring and financing the property and related improvements thereon located as 4380 Memorial Drive, Decatur, GA 30032. This agreement serves as security for the proposed URA bonds for the acquisition of 4380 Memorial Drive.
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 13, 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 which will authorize the execution and delivery of an Intergovernmental Agreement of Installment Sale between the URA and the County for the acquisition and financing of the property and related improvements thereon located at 4380 Memorial Drive, Decatur, GA 30032 pursuant to the "urban redevelopment plan."
FISCAL IMPACT:
All-in Total Interest Cost (NIC) estimate of x.xx%, which includes an estimated Cost of I...
Click here for full text