Commission OK’s Money To Develop Mills

GRU Pumps $1.8 Billion Into Local Economy (Image 1)
GRU Pumps $1.8 Billion Into Local Economy (Image 1)

 

Augusta commissioners want to move forward to bring some old mills back to life.

City leaders approving 300 thousand dollars to begin the process of developing the old King and Sibley Mills.

The city is hoping to lure GRU to the mills to be used as dorms and class-rooms.

Property near the mills will also become a solar power farm   that will allow the city to bring in revenue from the sale over the next 20 years.

“We applied for and received a power purchasing agreement from Georgia power in that they gave us a guarantee of the purchase of power for 20 years then we found a vendor who will actually build and maintain the facility and pay us annually for the right do so on city land,” says Matt Kwatintz of the Augusta Regional Collaboration Project.

The pay back will take 20 years so the city will need to come up with 300 hundred thousand dollars now to begin work on the mills.

That will come from reserves.

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