Gwinnett commissioners have voted to move ahead with a taxable bond issue to buy part of the OFS Brightwave Solutions site on I-85 at Jimmy Carter Boulevard in Norcross. The property is within the Gwinnett Village Opportunity Zone, making it eligible for Urban Redevelopment Agency financing. The recent resolution sets a maximum of $36.5 million, which includes the $34 million purchase price for the property and costs associated with issuing debt, and other parameters for the bond issue. OFS is expanding its optical fiber manufacturing operations on the 66 acres they will retain.
District 2 Commissioner Lynette Howard said, “The land and buildings in this acquisition will continue to be used for feature film productions. It is our intention that this asset will become a major catalyst for redevelopment along the Jimmy Carter Boulevard corridor.”
The URA will purchase about 103 acres of the 169 acres owned by OFS. Revenues from ongoing film production plus lease payments from OFS are projected to cover most of the annual debt service.
The site has been a principal production facility for more than 35 movie and TV productions in recent years, including multiple major film franchises. OFS will continue to manage and operate the studio space on behalf of Gwinnett County.
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