DeKalb will get $90 million boost from stimulus bonds
DeKalb County now has $90.8 million in low-interest rate bonds to add jobs and redevelop poor areas that have taken a significant hit from the economic recession, CEO Burrell Ellis's office said Thursday. The bonds are part of the $787 billion federal stimulus act. They allow the county to create "Recovery Zones," ? ones that have significant unemployment, poverty or a high rate of home foreclosures ? and lets more manufacturing projects to qualify for tax-exempt bond financing, making them more attractive for banks to loan money. The bonds come in two forms ? $36.3 million for projects in a so-called Recovery Zone ? and $54.5 million for bonds that can be used to build or renovate certain types of private property in those areas, county spokeswoman Kristie Swink said.
