Forest Park development authority reviews pending property sales, lease dispute and economic development plans

Forest Park Development Authority members on June 25 received updates from counsel and staff on two properties under contract, a tenant lease dispute that may lead to dispossessory proceedings, an elevator inspection tied to third‑party litigation, irregular board appointment timing, and several ongoing economic‑development efforts including interest from a coffee vendor seeking a brick‑and‑mortar location.

Authority counsel summarized two pending sales: 794 Main Street is under contract to Georgia Utility Contractors Association, Inc., for $150,000 with a $5,000 retainer. Counsel said, “They have a 90 day due diligence period that began May 1,” and that the buyer’s title report showed only minor wording issues that counsel did not expect to affect closing. Counsel told the board the buyer must submit building plans by July so the authority can review them and respond at the next meeting if there are concerns.

A second contract is with PDC Land Acquisitions LLC, described as a single‑purpose entity created by Prestwick Development, for “$300,000” with a $5,000 earnest deposit, counsel said. Counsel reported that the buyer’s due diligence ends this month and that the contract is conditioned on the developer receiving an award of low‑income housing tax credits by year‑end, meaning construction or other activity likely would not proceed until after that award is made.

On a separate matter, counsel said the authority has not received an…