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Voters to weigh funding source for $2 billion Gathering project By JON WILCOX jon@appenmedia.com
PROVIDED BY FORSYTH COUNTY
Commissioners discuss zoning for The Gathering, a multibillion-dollar project that aims to attract an NHL franchise, at their Oct. 22 meeting.
Commissioners consider phasing rules for The Gathering project By JON WILCOX jon@appenmedia.com FORSYTH COUNTY, Ga. — The multibillion-dollar Gathering project may be able to proceed with a scaled down plan if it fails to attract a National Hockey League franchise, commissioners said at an Oct. 23 work session.
ROI
matters.
If the $2 billion mega-mixed-use development project off Ronald Reagan Boulevard and Union Hill Road does not attract a team, it also would lose an arena, hotels, retail space and hundreds of homes. Alpharetta Sports & Entertainment Group submitted in March a petition to attract an NHL franchise at North Point Mall. New York Life Co., the
insurer that owns the property, said they have plans to create a mixed-use project around the team. Construction at the Gathering is set to be completed in four phases with the last three contingent on obtaining the construction of an arena, according to county documents.
See PROJECT, Page 14
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FORSYTH COUNTY, Ga. — A ballot measure for the Nov. 5 election will ask voters to allow a tax district that will streamline the repayment of bonds for the $2 billion Gathering development. Voters are being asked whether to approve “redevelopment powers” allowed under a state law. Passage of the measure would allow the county to form a tax allocation district, or TAD, to help service $225 million in bonds anticipated for funding the project. The Gathering, which hopes to include a National Hockey League team on the site, is not dependent on voter approval of the TAD, County Manager David McKee said. But creating such a district would assure the 20-year bonds are repaid through an increase in ad valorem taxes, he said.
See GATHERING, Page 14
Forsyth County ballot question “Shall the Act be approved which authorizes Forsyth County to exercise all redevelopment powers allowed under the ‘Redevelopment Powers Law,’ as it may be amended from time to time solely in the designated 100.3 acres of property designated for ‘The Gathering at South Forsyth’ project?”
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