Financing hindering deport project support

CSRA News

Augusta,Ga (WJBF) Those behind the downtown Augusta Depot project are in for some tough questioning.

The 93 million dollar mixed use development will be the topic of a legal session Monday, as city leaders sit down with the developers and the Downtown Development Authority.

Commissioners need to approve 12 million dollars in bonds for the project to move forward.
But some are raising concerns that tax dollars will be needed to cover the bond payments.

“The city still cannot go into debt for this project like we we’re talking earlier the bond payments will eventually have to come out of the general fund we can’t put that on the city right now,” said Commissioner Marion Williams.

The 2020 budget recommendations from the interim city administrator includes -350 thousand- dollars for debt service payment -if- commissioners approve the bonds for the depot project.

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