Decatur’s commission has approved an intergovernmental agreement with the city’s newly established Public Facilities Authority to issue bonds for purchasing the United Methodist Children’s Home.
In April the commission approved paying $40 million for the Home’s 77 acres, or about $520,000 per acre. Financing the purchase could include not only bonds, but also loans and transfer from the general fund and/or capital improvement funds.
City Manager Peggy Merriss said it now appears that closing on the property should occur no later than mid August. Further the UMCH, which has occupied the site since 1873, and currently has 80 residents and 55 employees, will vacate by the end of September.
She added that a “community-based process” should commence in early 2018 to help develop an overall master plan for the property, which has 31 buildings, including several dating to the early 20th century.
Decatur is working with the Georgia Environmental Finance Authority to pursue low interest loan funding for a portion to remain undisturbed natural green space. It’s estimated that would total about 22 total acres including woods and a lake.
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