City unveils plans for paying off parking deck

Augusta, Georgia Seal graphic
Augusta, Georgia Seal graphic

AUGUSTA,Ga (WJBF) Augusta is getting back into the building the parking deck business.

“If we’re going to complement all this cyber input both on Fort Gordon and locally we have to take this step,” says Commissioner Sammie Sias.

The step is a 12 million dollar   parking deck for the cyber center paid for with bonds

City leaders gathering today to say the plan is to service only the interest on the debt about a half million dollars a year for seven years, then a future commission could vote to retire the bonds using SPLOST dollars.

“It’s is eligible for SPLOST you can pay bond debt from SPLOST funds the commission could also choose to do another bond and make full principal and interest payments,” says City Administrator Janice Jackson.

Administrator Jackson says a variety of sources will be used to come up with the interest payments including 125 thousand dollars in mix drink taxes. That money is currently going to the Convention Bureau, but the CVB will see it made up with new tax on Airbnb

‘Looking to execute that start collecting on Air B n B rentals lodging tax on Air b and B rentals,” said Barry White, Executive Director of the CVB.

With the Reynolds Street deck there was an outcry because at first the city didn’t own the land it sat on and only had air rights.

The mayor says there will be no air rights language in the agreement with the state for the cyber center deck.

“So this will not be TEE Center Parking Deck 2.0 one to be very transparent that’s why you are here today,” said Mayor Hardie Davis.

In 20-14 The commission increase property taxes with a portion going to raise five million dollars to replenish the emergency fund depleted by the ice storm that five million dollar mark has been reached so some of those  taxes will help pay off debt, so will T-SPLOST dollars and revenues from the parking deck.

 

The City Administrator says nothing final has been worked out on the costs of staffing and maintaining the deck.

 

 

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