Financial Planning Committee Votes to Look into Funding Downtown Albany Development
Friday, May 29th, 2015
The joint Albany City Commission/Albany Utility Board Long-Term Financial Planning Committee approved in principle Thursday a Downtown Development Authority proposal that would allow for a loan from the city’s so-called Deal-Closing Fund to be used to stimulate downtown development.
In a meeting that featured heated verbal exchanges between LTFPC Chairman/Albany City Commissioner Tommie Postell and committee member/Albany Utility Board member Chad Warbington, the committee voted 4-1 to “explore the opportunity of loaning money from the Deal-Closing Fund” to spur downtown development.
