Flowery Branch Council approves downtown option

FLOWERY BRANCH - With the start-up of Flowery Branch’s downtown Tax Allocation District redevelopment still months away, City Council approved a half million-dollar project financing option Wednesday morning.

Approval came with assurance that taxpayers would not bear any cost. The option is reimbursement financing of the Hortman and Dobbs project to the city from United Community Bank.
Bleakly Advisory Group consultant Gary Mongeon told Council said the developer preferred the bank option as opposed to ‘pay as you go’ from TAD funds.

“When the project is finished the developer would receive the entire amount due him at that point rather than be paid over a five year period,” Mongeon said. “The ball’s in the developer’s court to start construction and nothing further is going to happen until construction starts.”

Phase One of the ‘Old Town’ project includes a restaurant, a commercial building and installing Pine Street from Church Street to Railroad Avenue.
The ‘Old Town’ project was touted as a way to open up historic downtown Flowery Branch and make it a retail and travel destination, but Mayor Diane Hirling said the recession economy has delayed it.

“Hopefully they’re going to break ground by June, this is what I’ve heard,” Mayor Hirling said. “The economy has definitely impacted it but I believe maybe with the help of this financing it’ll get start it quicker.”