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Chair: DDA received $236,000 from Peachtree Station bond flip; late Lumen/Bexley payment also cleared
Summary
At the May 26 meeting the Chamblee Downtown Development Authority reported receiving $236,000 from the Peachtree Station bond flip and a late Lumen/Bexley payment of about $192,000; members said these receipts improve near-term cashflow.
The Chair told the Downtown Development Authority on May 26 that the Peachtree Station bond closed May 7 and the DDA “took in the flip of your check of $236,000.”
In the same financial update a Committee member said the long-delayed Lumen/Bexley payment finally arrived. “And that was about… $192,000,” the member said. Board members said those receipts, together with other account moves, put the DDA on firmer financial footing this month.
The Chair described the Peachtree Station sale to a buyer from the Northeast after the bond closing and said members are monitoring occupancy and parking conditions in that development. The meeting’s finance discussion also noted separate debt-service and operating accounts, and moves to shift funds to cover upcoming loan payments.
