HomeMy WebLinkAboutRESOLUTION IN SUPPORT OF THE CONSOLIDATED GOVERNMENT OF AUGUSTA, GEORGIA SUPPORTING THE FINANCING OF DISCOVERY PLAZA, INCREASED DECURITY ON RIVERWALK AND THE CONSTRUCTION SURFACE PARKING LOT TO SUPPORT NEW JOBS AND EXISTING BUSINESS DOWNTOWN RESOLUT
A R S OF ONSAVMT O
AUGUSTA ESOLUTION , GEORGI IN SUPPORTING THE FINANC OLID OF GO DISCOVERY PL AZA
INCR SECUR ON UPPORT RIVERW ALK AND THE CONS TRUCTION EN OF A F
SURFACE PARK LOT TO SUPPORT C NEW JOBS AND EXISTING ERN BUSINESS ES
DOWNTO
WHEREAS the consolidated government of Augusta Georgia desires to work in
partnership with the Downtown Development Authority (DDA) and Augusta Regional
Collaboration (ARC) Project to bring more jobs downtown to support downtown
businesses and economic growth
WHEREAS the DDA and ARC Project have identified a tenant who will retain 40
jobs in Augusta, bring them downtown and add at least 150 new jobs
WHEREAS the rent paid by this tenant will fully cover the payments of the
financing provided for 15 years, after which the tenant will renew, a new tenant will be
found, or the building will be sold or refinanced
WHEREAS the development will also provide spaces for restaurants on the river,
and bring much needed activity to the Riverwalk
WHEREAS the development will bring back the Fort Discovery theatre for use by
arts non - profits, reducing the anticipated SPLOST funding requests
WHEREAS the development provides small business development and
education resources through GRU, Augusta Tech, Paine, UGA and GA Tech
WHEREAS fees generated by the development will provide a management fee to
the DDA, thereby reducing general fund obligations to the DDA in 2014 and beyond
WHEREAS the deal will generate cash to provide a debt reserve fund and
contribute monies toward future economic development deals in Augusta
WHEREAS the development will pay for additional security on Riverwalk
WHEREAS this economic development deal cannot happen but for the support
of the consolidated government of Augusta Georgia in financing and the construction of
surface parking to support the number of jobs provided and the theatre
COMMISS OF AUG GEORG HEREBY RESVES that they support
the financing of D Plaza and the co nstruct i on of a surfa parking lot to sup
new jobs and exist bus downtown and hereby charges the ARC Project and
DDA to come back before th body USTA with a s plan fo OL the above guidel
for THE approva
Ad opted t i day o D ecem b er, 2013
Augusta,
.(Lf As its Mayor
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