ADICA approves deal to buy downtown property - WALB.com, South Georgia News, Weather, Sports

ADICA approves deal to buy downtown property

ALBANY, GA (WALB) -

The Downtown Development Authority tonight approved a deal to buy property on the corner of Pine Avenue and Front Street.
 They'll then rent out storefronts to small businesses starting or expanding.
 Those businesses must report the number of jobs created.

"We're hoping to see some activity to include restaurants and other retail opportunities in the downtown area,” said Sharon Subadan, City Manager. “There will be specific guidelines for what we bring here, but we are looking for opportunities to develop that." 

City leaders say it's been hard to attract businesses downtown because they don't control much property and they can't force private owners to offer good lease terms.
They say new businesses could include at least one major franchise.
 The $619,000 purchase price includes $400,000 from the Tax Allocation District and $219,000 from the downtown Job Investment Fund just approved by the city.

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