Albany Civic Center deed returning to city ownership
The Albany Civic Center - which the Albany Dougherty Inner City Authority (ADICA) owns the deed to - will soon be back in the hands of the city.
Back in 1981, the city owned the site where the Civic Center currently exists. City Attorney Nathan Davis says that year bonds were issued by ADICA to help get the building constructed and therefore the property was deeded to ADICA. He says city of Albany leased it back from ADICA to help pay the bonds.
Now that the debt is paid, ADICA agreed at tonight's meeting to turn the deed back over to the city.
"The next step will be on the city agenda next month to accept the deed. Deeds say 'signed, sealed and delivered,' so it will be delivered to the city, they'll accept it and then it will go across the street to the courthouse," says Davis.
The bond agreement in 1981 was for $11 million dollars.
The change is deed ownership will not affect any current employees at the Civic Center.