Dunwoody, GA – May 23, 2023 – Members of the Dunwoody City Council approved a resolution last night to call for an election to issue general obligation debt up to $60 million. The approval puts the decision in the hands of Dunwoody voters during the General Election for the City of Dunwoody on November 7, 2023.
The Nov. 7 City of Dunwoody General Election ballot will include the following language: “Shall the City of Dunwoody, Georgia (the “City”) issue general obligation bonds in an aggregate principal amount not to exceed $60,000,000 for the purpose of financing (a) the acquisition, construction, installation, improvement and equipping of (i) parks and recreational areas, (ii) greenspace and (iii) trails, (b) the costs of issuing the bonds and (c) capitalized interest on the bonds? Such approval shall also constitute an approval of the increase in the City’s current millage cap of 3.04 only to the extent necessary to repay the bonds.”
If approved, the City of Dunwoody would work on capital improvements in the following areas using bond funding, along with other revenue sources. Note that the list below is not ranked by preference and is subject to modification based on the needs of the City:
• Parks and Greenspace: Roberts Drive Park, Homecoming Park on Vermack Drive, Softball Fields, Waterford Park, Brook Run Park
• Trails: Village Crossroads (Chamblee Dunwoody Road through Dunwoody Village, from Womack to the Park at Roberts), continuance of the Winters Chapel Multi-use Trail, North Peachtree Road, Mount Vernon Road
“For more than two years, we have solicited community feedback, analyzed, debated, heard directly from residents, and evaluated the prioritized capital needs of the City,” said Dunwoody City Council Member Tom Lambert. “We have done our due diligence and constructed a sound, well-thought-out plan that includes parks and trails.” The bonds would be paid off over 20 years. Based on preliminary 2023 digest numbers and conservative market rates, the typical home in Dunwoody ($500,000 value frozen at $400,000), would pay an extra $157.36 a year at a rate of 1.049 mills if the bond is approved. This would represent 2.3% of the total tax bill. See pie chart attached.
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For more information regarding the City of Dunwoody, please contact:
Jennifer Boettcher,
Communications Director
678.382.6881
Jennifer.Boettcher@dunwoodyga.gov
