Metro Atlanta
Lilburn approves DDA funding to purchase 3 properties
Lilburn recently approved a resolution to provide $1.6 million, plus closing costs to the Lilburn DDA for the purchase of 57 Railroad Avenue. (Google Maps)
The Lilburn City Council recently approved a resolution that will provide $1.975 million in necessary funding for the Lilburn Downtown Development Authority to purchase three properties in the downtown central business district for the purposes of revitalizing and redeveloping the district.
The properties include 57 Railroad Avenue, 4845 First Avenue, and 4855 Velva Way. Two intergovernmental agreements detailing the advances and payback provisions were included with the resolution. $1.6 million, plus closing costs will be used to purchase 57 Railroad Avenue, and $375,000, plus closing costs will be used to purchase the properties on First Avenue and Velva Way.
