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City of Roswell to Buy ‘Seven Branches’ Property
Posted on September 27, 2017 by Julia Brantley in Roswell
Good News Martin’s Landing Residents!
34+ acres located along Holcomb Bridge Road between Martin’s Landing and Eves Road could be a Passive Park Space for Roswell.
The City still has 3 adjacent Parcels to consider. Parcel 1 acquisition is expected to close by the end of 2017.
Roswell leaders voted on Monday to buy 34.370 acres along Holcomb Bridge Road that, fingers crossed, could be used as passive park space! This is a huge win for Roswell residents who, since 2015, have been urging the city to acquire this property to keep Roswell green.
Patch.com reports that City Council members at the Sept. 25 meeting unanimously voted to buy the land known as “Seven Branches” on Holcomb Bridge Road between Martin’s Landing and Eves Road for a price not to exceed $2.1 million. Roswell noted that the owner of the property has also agreed to donate about 13 acres of the property to the city.
According to meeting notes, the land purchase will be financed by using a Georgia Environmental Finance Authority Land Conservation Program loan. Roswell’s application has been submitted and is pending review and approval by GEFA. Loan term is 10 years, interest rate is .5%. The annual debt service on this purchase is estimated at $215,337 which would be funded through the General Fund. The final amount TBD upon GEFA approval and Mayor and Council acceptance of the loan.
Good move, city council. Here’s to keeping Roswell green.
What does this mean for you?
With the new construction going on all around Martin’s Landing off Old Alabama, Eve’s Road and Holcomb Bridge Rd, green space is a huge priority to ML residents and surrounding neighborhoods. The preservation of coveted green space in our community coupled with new construction helps to keep our home prices strong and our outlook on the rise. Want to know more? LIKE Martin’s Landing Real Estate and Julia Brantley Real Estate Facebook pages to stay up to date or simply email me. [email protected]