Following a closed session that lasted approximately 20 minutes during the Aug. 21 meeting, the Banks County Development Authority unanimously approved the purchase of some property at Banks Crossing.
The authority approved chairman Scott Ledford to purchase the property for $1.6 million and sign the contract on the 109.489 acres being purchased from Black Family Enterprises, L.P. and Wiley Black.
The property, located in the southeastern portion of Banks County, is across from Wendy’s and runs behind Boots, etc.
In a handout prepared by Brad Day, Banks County Planner, Day reported the funds for the purchase of the property comes from Development Authority reserves that were saved and intended for this purpose.
Day said, “It is hoped that this investment will spur additional investment by private sources in Banks County. This investment should result in 250 jobs or more at full development. The investment should add $10-$20 million to the Banks County tax base at full development.”