Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Kennesaw council hears debate over proposed 15-year incentives, $70,000 annual payment for Lacey 2 development
Summary
City staff presented a preliminary incentive application for the Lacey 2 development and described a proposed financing structure that would span 15 years and provide the Kennesaw Downtown Development Authority with a $70,000 annual administrative payment.
City staff presented a preliminary incentive application for the Lacey 2 development and described a proposed financing structure that would span 15 years and provide the Kennesaw Downtown Development Authority with a $70,000 annual administrative payment.
The project team and staff told the council the Lacey 2 package would be structured similarly to a prior deal across the street but with three differences: it would run 15 years (not 10), include an administrative payment to the KDDA of $70,000 per year, and create pilot payments tied to new value. A city staff member said the $70,000 annual…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
