Duluth to finance stormwater facility with tax-exempt funds

The Duluth City Council approved a resolution Feb. 9 to reserve the city’s right to reimburse itself for the cost to acquire, expand, renovate and/or equip a planned stormwater detention facility.

On Feb. 28, Duluth will finalize the purchase of land for the construction of a downtown stormwater facility costing an estimated $2.5 million. Duluth staff is working with the Georgia Municipal Association to pay for this project with tax exempt financing through the GMA Direct Bricks and Mortar Program. It is the city’s intent to reimburse itself for the cost of the property and other related expenditures once the tax exempt financing is obtained.