The Peachtree Corners City Council voted unanimously Monday evening to approve a resolution in support of House Bill 369, creating a Public Facilities Authority. If approved by the state General Assembly, it will allow the city to form a separate authority with unique powers not available to the City Council or current Downtown Development Authority.
A Public Facilities Authority would have the power to enter into longer-term lease agreements, purchase materials tax exempt, issue and sell revenue bonds and other bond related authority.
As an example, should the city desire an arts center, the Downtown Development Authority can’t own a building, but a Public Facilities Authority would have that option. In addition, the city is currently restricted to one-year renewable leases. This authority would have the option to save money through longer lease agreements.