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Council approves amendment to Section 108 loan for Roswell Road sidewalks project
Summary
The City Council approved an amendment to the HUD Section 108 loan agreement that extends deadlines for withdrawing loan proceeds and for temporary investment maturity to address construction delays on the Roswell Road sidewalk project.
The Sandy Springs City Council on March 4 approved the first amendment to the city's Section 108 loan agreement with the U.S. Department of Housing and Urban Development for the Roswell Road multi-year sidewalk project.
Michelle McIntosh Ross, planning and zoning manager, said the amendment revises Part 2, Section 1(a) of the original agreement to allow additional time to withdraw and disburse loan proceeds and to limit the maturity date for temporary investments to June 30, 2029. The change responds to unforeseen construction delays and is consistent with HUD's recognition that the delays were not the city's fault.
The original Section 108 loan agreement, dated March 18, 2019, authorized $2,000,872 in loan financing for the project with an original repayment schedule running from Aug. 9, 2019, to August 2030. McIntosh Ross said the city is current on principal and interest according to the amortization schedule and that the amendment would not change the underlying contract except to extend the disbursement and investment dates.
Project scope and locations: The staff memo described the sidewalk project as installation of sidewalks along Roswell Road inside I-285 from Northwood Drive to Stewart Drive and from Stewart Drive to Long Island Drive, and including Hope Road.
Financial implications: McIntosh Ross told the council the amendment carries "no additional financial" obligations beyond the original agreement. Councilmember John Paulson moved approval of the amendment; Dr. Melody Kelly seconded. The motion passed by voice vote.
Why it matters: The amendment preserves the city's ability to use the Section 108 loan funds for the Roswell Road sidewalks despite construction schedule delays and keeps the project aligned with the CDBG consolidated and annual action plans.
