The Suwanee City Council recently approved amendments to the city’s Urban Redevelopment Plan, which was originally adopted in Sept. 2002. The updated 2002 plan clearly identifies Town Center on Main and other proposed projects. A public hearing on the draft plan was held on April 25.
In addition, the council also entered into an intergovernmental agreement with the Urban Redevelopment Agency outlining that the URA will agree to issue bonds and the city will agree to acquire, construct, equip and operate city projects, and pay the URA amounts sufficient to enable the URA to pay the debt service on the bonds.
According to the city’s documents, “the URA proposes to issue its Revenue Bonds, Series 2017, in an aggregate principal amount of up to $25,000,000 for the purpose of a paying all or a portion of the costs of the projects and paying the costs of issuing the bonds.”
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