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Voice Your Views on Riverwalk Monday Morning

The Cobb County School District is expected to lay out its case against the deals being offered to the developers of Riverwalk early next month.

A Cobb County Superior Court judge will hear residents' thoughts on the proposed Riverwalk bond deal and tax abatement during a hearing on Monday morning. Credit: Patch File Photo
A Cobb County Superior Court judge will hear residents' thoughts on the proposed Riverwalk bond deal and tax abatement during a hearing on Monday morning. Credit: Patch File Photo
Cobb County residents who wish to express their opinions about a controversial tax break that may be given to a $100 million development will get to talk with a judge Monday morning.

Cobb Superior Court Senior Judge Michael Stoddard wants to hear from you during his 10 a.m. hearing in Courtroom 2000 regarding the proposed bond and tax abatement for the Riverwalk development, planned for a seven acre site in the Cumberland Community Improvement District.

Riverwalk is currently slated to contain 14 three-story townhomes, 236 condominiums, and 200,000 sq. ft. of Class A office space.

The deal as proposed would see the Development Authority of Cobb County issue bonds to buy the land Riverwalk would be built on and then lease the property to the developers, Cumberland-based Greenstone Properties. There would also be a tax abatement that would keep the developer from paying full property taxes on the site until 2025.

The Cobb County School District has filed an official motion against the deal and will be present at Monday's meeting, but the Marietta Daily Journal reports that the School District won't be making its case until a Jan. 10 hearing.

School District officials are concerned that a board that does not interact with the schools in any official capacity can make decisions that affect School District income; the CCSD could lose out on $700,000 in unrealized property tax income due to the abatement.

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