The city of Sandy Springs has closed on the office building property at 620 Morgan Falls Road in a $10.9 million purchase for the new home to the police department and Municipal Court, officials announced on Oct. 6.
The city is in the process of developing a timeline for moving into the building. The next step is the design, said spokesperson Sharon Kraun, and a request for proposals will be issued to secure that service.
The four-story, 109,000-square-foot building dates to 1990. It sits on a 12.3-acre property with parking for more than 750 vehicles. The building’s most recent tenant was WorldPay. The city purchased the property from the TPA Group.
The city has paid $757,174 annually for three buildings in the Morgan Falls Office Park for its police department and court.
The City Council approved a budget amendment during the Oct. 6 meeting that moves $11.19 million from the city’s General Fund to its Public Facilities Authority (PFA) Fund. The transfer covers the purchase and replenishes the PFA’s contingency funding with $500,000.
On Sept. 15, the council approved refinancing the bonds it issued in 2015 for City Springs. By issuing the city’s Series 2020 Refunding Revenue Bonds, the city reduced its debt service payment by approximately $623,000 annually during the bonds’ life, saving approximately $17 million.
The city will issue up to $60 million in bonds to fund public safety capital projects including purchase of land and building, renovation of the public safety building and construction of two fire stations.