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Chamblee DDA reports healthy balance after Lumen and Peachtree Station payments
Summary
At its July 28 meeting the Chamblee Downtown Development Authority heard a financial report from Jonathan Smith showing roughly $500,000 on the balance sheet after a $190,000 Lumen payment and a $236,000 Peachtree Station windfall; the board discussed loan repayment timing tied to an expected September closing.
The Chamblee Downtown Development Authority on July 28 received a financial update from board member Jonathan Smith, who said the authority’s balance sheet is “around 500 k total” after recent receipts.
Smith detailed two recent inflows: “$190,000 from Lumen for their $20.25 admin payment,” and “the $236,000 windfall payment for the Peachtree Station project.” He told the board the authority has drawn the full $300,000 city loan and expects budgeted accounts receivable for administrative payments in October. Smith said sale proceeds tied to a pending 7th Amendment closing should arrive around September, and the board could begin repaying the city loan closer to that closing.
The report framed the authority as financially stable in the near term but tied to upcoming transactional milestones. Members did not raise substantive questions during the discussion.
