New proposal could help downtown development in Albany

New proposal could help downtown development in Albany

ALBANY, GA (WALB) - Albany Dougherty Inner City Authority board members Wednesday night discussed a proposal they hope will spur development downtown.

They plan to ask the city to set up a Downtown Improvement Loan Fund that would give ADICA the opportunity to buy property and make it available to developers.

"There are no particular properties that we've identified. It's just the concept and the concept was supported by the Long Term Financial Planning Committee before anything could be done it has to be adopted by the city commission and it will be through the city department not through the development authority,” said Thelma Johnson Chairman.

ADICA leaders said they do not have a dollar amount for the loan fund and they're not sure when they'll take a formal proposal to the city commission.

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