Tuesday, August 24, 2010

DeKalb says no to GM redevelopment

By Megan Matteucci

The Atlanta Journal-Constitution

Balking at giving public money to a private developer, DeKalb County voted Tuesday against investing in the redevelopment of the vacant Doraville GM plant.
Instead, the county will likely use $36 million in federal stimulus bonds to upgrade its aging water and sewer system.

After months of closed-door meetings and negotiations, the DeKalb County Commission voted 5 to 2 to kill the $54 million project that called for a mixed use of retail and office space as well as residential units at the site near I-85 and I-285.

The plan called for giving $36 million in federal stimulus bonds to Florida developer New Broad Street. It also required another $18 million in interest, which would be paid for by a property tax increase.
ajc story

No comments: