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Dalton council approves $1 million loan to housing authority for Walton Fields Phase 1 with deed to secure debt
Summary
The council approved a $1 million promissory note to the Housing Authority of the City of Dalton to support Walton Fields Phase 1. The loan carries 1% interest, delayed initial interest payment until Oct. 1, 2028, and is secured by an 8.6-acre tract at Fields Avenue and Dozier Street.
The Dalton mayor and council voted Monday to loan $1 million to the Housing Authority of the City of Dalton to support Walton Fields Phase 1, formalizing terms for repayment and securing the loan with real property.
City Administrator Andrew Parker presented details: the loan will be structured as a promissory note bearing 1% annual interest. The first interest payment…
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