AUGUSTA,Ga (WJBF) Commissioners approving issuing up to 27 million dollars in bonds for the Foundry Place project, a 221 unit upscale housing development
The project was rejected in July because of complaints over the high price of construction, and the size of city’s contributions to the overall project.,
But after the developers agreed to change to reduce the costs commissioners voted six to three to move forward.
“I think it will really improve our community, it would even improve our tax base in our community so that’s something we have to look forward to and we also have to understand that everything will not be as smooth and exact as we like them to be,” says Commissioner Dennis Williams.
Under the agreement the city will be responsible for 80 percent of the costs, but to ease concerns developers agreed to be personally responsible for paying off all debts from the project.