The price tag on the downtown hotel goes up - WALB.com, Albany News, Weather, Sports

The price tag on the downtown hotel goes up

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March 9, 2004

Albany - Dougherty County must shell out nearly $500,000 to cover additional costs of the downtown hotel.

Albany Tomorrow is asking County Commissioners to reallocate $455,000 in tax money to relocate the 12 businesses now on the Hilton Hotel and Conference Center site and to buy additional property. Since the County is using Housing and Urban Development money to fund part of the $16.9-million project, HUD mandates the County give up to $20,000 in relocation fees to all displaced businesses. That amounts to about $215,000.

"Originally the project was attempted to be financed with no HUD money, so the HUD guidelines did not apply. So, the $16.9-million doesn't include the relocation assistance," said ATI President Tommy Chatmon.

The rest of the money will be used to buy the Wingate property on the corner of Front Street and Broad. The appraisal price was $180,000 more than the County anticipated. Commissioners will vote on the reallocation of money at their next meeting.

Posted at 4:00PM by kathryn.murchison@walb.com

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