Forthcoming apartment complex the Peaks of Dawsonville has been granted an additional $2 million in bonds to cover overages incurred during the project’s building process.
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Dawson County’s Board of Commissioners adopted a resolution 3-0 to issue the revenue bonds on Nov. 3. The Development Authority of Dawson County approved the bonds’ issuance during their Oct. 18 meeting.
Last September, the BOC and DADC voted to issue an initial $10 million in bonds for the workforce housing, which is being built by Landbridge Development.
“They ran into some issues with some of the land disturbance as well as inflation for some of the costs that they had,” Director of Economic Development Kevin Herrit said about the developer on Nov. 3. “So they came back, and they needed $2 million to get past that point so they could finish out the project. We were happy to do that for them.”
The apartments are now expected to be done in May 2023, according to a letter included in the meeting agenda from Chase Northcutt of RHG GP Management, an associate of Landbridge Development.
District 2 Commissioner Chris Gaines clarified that there would be “no commitment on the county’s side” as to the bonds and that the board is just acting as a “pass through” entity for their authorization.
“Most of the time the development authority does anything like that, it is not constricted to your government,” Herrit said.
A planned roundabout project in Dawson County will soon see another infusion of cash, Chief Financial Officer Vickie Neikirk told the Board of Commissioners at the Nov. 3 work session.
The Georgia Department of Transportation recently approved the county’s funding request of $500,000 for the planned roundabout at Thompson Creek Park Road’s intersection with Dawson Forest Road and Ga. 53. GDOT has committed $500,000 or 70% of the project’s cost, whichever is less, in Local Maintenance Improvement Grant (LMIG) funds.
This two-phase project will include the realignment of Thompson Creek Park Road and the construction of a roundabout.
GDOT’s approval follows the BOC’s Oct. 6 rejection of an initial $556,000 bid for the project to allow for the county’s scope of work to include both project phases. Then-county manager David Headley recommended the county go back and ask for the additional LMIG funds.
Typically, Dawson County gets those funds on an annual basis.
Developers for the Advenir at Dawson Hills and the Enclave at Dawson Forest will each give $250,000 toward the roundabout project, and another $250,000 is expected to come from SPLOST VI funds.