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Lilburn approves purchase of gateway property at 4844 Lawrenceville Highway for $745,000
Summary
Council approved acquisition of the property known locally as the 'sign shop' for $745,000 and a one-year leaseback at $47,000 annually; Councilmember van Maanen pressed to preserve a three-month reserve and staff agreed to draft a reserve policy proposal.
The City Council voted 3-0 to buy the property at 4844 Lawrenceville Highway for $745,000 and lease it back to the current sign company for at least one year at $47,000 annually. Mayor Johnny Crist described the parcel as a key gateway to Old Town and said city ownership would help guide future redevelopment: "the property, known locally as the 'sign shop,' is located at a key gateway to Old Town Lilburn."
Councilmember Christina van Maanen said she supported the acquisition but raised concerns about the impact on the City's savings and stated a "preference for maintaining a minimum of three months of operating reserves." Finance Manager Therese Brown reviewed the city's fund balance and said projected reserves "would remain above the three-month reserve." City Manager Jenny Simpkins and Mayor Crist agreed to return with a proposed financial policy establishing a minimum three-month reserve requirement as part of an upcoming budget amendment.
