The Board of Commissioners has approved $23.5 million in bonds to buy 39 acres of Gwinnett Place Mall as part of a major initiative to redevelop one of the key economic engines of the county. T
he purchase is part of an effort by the County, the Gwinnett Place Community Improvement District, and local property owners to create new opportunities to serve as a catalyst for redevelopment. Redevelopment of the area could reap tremendous benefits for the entire county by generating new businesses and jobs and increasing the county’s tax base.
The approval came after the three major rating agencies reaffirmed the County’s rare Triple AAA/Aaa bond rating, the highest available. The rating means the County can borrow money at most-favorable interest rates and refinance bonds at better rates than most counties.