Collateral for the loan will be future earnings from the Atlanta's economic development sales tax. The Texas agency is funding the project through the Texas Leverage Fund Program. The interior of the building won't be finished until a buyer or tenant is found.
"Having a shell building will provide a significant competitive advantage in the business attraction process," Richard Clayton, president, Atlanta Economic Development Corp. board of directors, says in a prepared statement.
Clayton says the loan "provides maximum flexibility for the Atlanta Economic Development Corp. to market the shell building, as well as the remainder of the Atlanta Business Park itself."
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