Lookout Mountain, Ga., has been approved for a loan from USDA Rural Development to move forward with building a new city hall and fire station that will be the anchors for what will become the new Town Center. In addition to the municipal buildings, the development will have a commercial component including restaurants and shops.
A letter from the agency spelled out the requirements for getting financing in place and the buildings under construction. In a teleconference meeting Wednesday afternoon, USDA Community Programs Director Jack Stanek highlighted points in the letter that the council had to vote on for approving the loan resolution. The loan is for $3,490,000 for the buildings that will be constructed on the 1.67-acre tract owned by the town.