DeKalb County approves stimulus money to remake GM plant
DeKalb County agreed to use $36 million in federal stimulus bonds to assist a Florida developer in remaking Doraville's former General Motors plant into shops, offices and condominiums, though how it evolves is unclear.
On Tuesday, the County Commission approved the bonds for the project because it faceda state deadline to discontinue the program.
The county has been negotiating with Orlando-based New Broad Street to renovate the 165-acre former factory site into an urban center.
"All today's vote does is allow us to stay in the game," DeKalb CEO Burrell Ellis said.
The county has said it will use tax money from an increase in property or sales tax to repay the bonds. However, DeKalb's county commissioners and Doraville officials said they won't support a tax increase to redeem the bonds.
Which means before DeKalb Development Authority can issue any bonds, all sides have to agree on the amount of debt each will assume.
"Everything is still on the table," Ellis said.
“As far as I’m concerned, we’re still in the dark,” Doraville Mayor Ray Jenkins said.
The county’s consultants provided a project overview to city leaders on Monday night, including the stipulation that the city assume part of the debt. Carter Dawson-Thompson representatives previously pinpointed $10 million, but would not commit to a figure this time.
DeKalb Commissioner Larry Johnson voted against the plan because he was concerned jobs eventually created by the project would take employment and business away from existing shopping malls.
