Community Corner
Judge Delays Ruling on Riverwalk Bond Deal
The next hearing on the bond deal for the $100 million project in the Cumberland area will be held on Dec. 30.
The bond deal that would give significant tax breaks to a planned $100 million development in the Cumberland Community Improvement District will likely not be implemented until next year.
Cobb Superior Court Senior Judge Michael Stoddard wanted more time to look at the arguments for and against the bond deal and tax abatement proposed for the Riverwalk development at the intersection of Cumberland Boulevard and Cobb Galleria Parkway and extended the hearing to Dec. 30 at 10 a.m.
The Cobb County School District has come out against the deal because it had no say in the process and stands to lose hundreds of thousands of dollars in unrealized property tax income if the bond agreement and tax abatement are approved.
Riverwalk is currently slated to contain 236 condos, 14 three story townhomes, and a ten story office tower which will contain 200,000 sq. ft. of Class A office space.
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