Diane Wagner - Oct. 25, 2016
The Rome City Commission signed off Monday on a $3.3 million tax break that clears the way for a 124-unit upscale apartment complex next to State Mutual Stadium. Developer Wright Ledbetter Jr. said the RiverPoint complex would be built on 6.29 acres of a 15.8-acre tract, which will leave room for the stores and restaurants he expects to follow. "In our view, this corridor has the greatest potential for growth in Rome and Floyd County," he told the board. Commissioners voted 6 to 1 to allow tax allocation district financing for the project Ledbetter will do with Charles Williams as RiverView Partners.
Local developers of a proposed upscale apartment complex next to State Mutual Stadium are asking the city of Rome for financial assistance through tax allocation district status. Wright Ledbetter and Charles Williams discussed the issue with the Rome Redevelopment Committee on Thursday, seeking a tax break of $3.6 million over 10 years to make the project financially feasible.