City To Discuss Purchase of Callaway Building Site TonightDecatur Metro | March 4, 2013 | 12:10 pm
Prior to tonight’s Decatur City Commission meeting, the city’s Urban Redevelopment Authority (which will consist of Mayor Baskett, and Commissioners Cunningham and Boykin) is scheduled to meet at 6:30pm to consider the purchase of DeKalb County’s Callaway Building site.
Documents for the meeting spell out that the city would pay the greater of…
(a) FIVE MILLION EIGHTY-NINE THOUSAND THREE HUNDRED AND N0/100 DOLLARS ($5,089,300.00), or (b) TWENTY-FIVE AND N0/100 DOLLARS ($25.00) PER SQUARE FOOT
According to an article in the Atlanta Business Chronicle last month, the city will potentially work with Cousins Properties to redevelop the site.
If the sale is finalized, the agreement between the city and the county would allow the county 18 months to move off the property, while the city could use currently unoccupied space for municipal court services while the Beacon Hill complex is under-construction.
If you’ve got some serious time to kill, you can read through all the legalese in the attachments HERE.