City Takes Next Step Toward Downtown Redevelopment
Albany, GA (January 8, 2019) – The Board of City Commissioners approved the execution of a Memorandum of Understanding (MOU) between the City of Albany and the Downtown Development Authority (DDA) to transfer ownership of the property located at 207 Pine Avenue, (formerly Water, Gas, and Light), from the City to the DDA.
The purpose of the transfer is to make the property available for redevelopment opportunities and to pursue funding for environmental remediation.
The Board of Commissioners will have final approval over any recommended redevelopment project. If redevelopment plans are not presented within 12-months, the City reserves the right to reclaim the property.
Sharon D. Subadan, City Manager, stated, “Downtown redevelopment takes hard work and bold moves. The DDA is a strong partner and possesses redevelopment powers to allow the momentum we have downtown to continue.”
In a unanimous vote during a special called meeting following the Commission meeting this morning, the DDA approved acceptance of the property for redevelopment.
For more information, please contact Monique Broughton Knight, Public Information Office at 229.733.2225.