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Downtown Development Authority requests up to $300,000 loan; council presses for documents and contingency planning
Summary
The Downtown Development Authority asked the city for a short‑term loan of up to $300,000 to cover debt service and operating costs tied to the city center project; DDA cited unexpected remediation and legal costs and said proceeds from a planned property sale (expected July/August) would repay the loan. Council members demanded greater transparency, written contingency plans, and more regular DDA briefings before approving any loan terms.
The Downtown Development Authority requested a short‑term loan from the City of Chamblee of up to $300,000 to cover debt service and operating expenses tied to the city center project.
The DDA chair told council the shortfall stems from unanticipated transaction costs associated with the Pierce properties, including higher legal fees and the discovery and removal of underground storage tanks during remediation. The DDA said it…
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