Sherri Rollins stated at the June 10 DDA meeting that the city’s master plan was approved by Gray’s City Council, and work is being done on the zoning needed for the plan.
She said the next step is the selection of a project. Two members of the Georgia Department of Community Affairs attended the DDA’s May meeting and explained a wide range of funding opportunities that are available to authorities, which are legal entities with borrowing power that may be spread over a maximum of 50 years.
“We are at a point where we need to make a decision. We’ve worked several years on the master plan, now we need to take the next step,” Rollins said.
She pointed out that funding is a long process and will not take place overnight, which is another reason to get started.
Parts of downtown can be considered blighted, and that is a plus for securing state and federal redevelopment funds. She noted that all the options appear to be low-interest loans and that makes it necessary for the project to be income producing.
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