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DeKalb URA approves supplemental 2025 bond to buy 4380 Memorial Drive
Summary
The Urban Redevelopment Agency of DeKalb County approved a supplemental Series 2025 bond resolution to purchase 4380 Memorial Drive, authorizing $18,270,000 in proceeds with a 3.62% interest rate and a maturity of Nov. 1, 2035; commissioners discussed master planning and next steps for redevelopment.
The Urban Redevelopment Agency of DeKalb County on June 17 approved a supplemental Series 2025 bond resolution that will provide $18,270,000 to acquire the office building at 4380 Memorial Drive, a finance adviser told the board.
Tom Roth with QTAC Rock summarized the final terms: “So, you're approving a final principal amount of $18,270,000 you're you're approving a final interest rate of 3.62%, and a maturity date of 11/01/2035. The annual debt service on this bond during that 10 year period, will not exceed, dollars 2,213,000.” Roth said Regions will purchase the bonds and the transaction is scheduled to close…
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