The City of Stone Mountain has posted the adopted version of its $4.696 million FY2020 budget, which is 10 percent larger than its 2019 budget. Approximately $80,000 was added to the budget during the budget process, with the money coming from taxes and "other financing sources."
The city's Downtown Development Authority accounts for 10 percent of the city's budget. It will receive more than $465,000 from the city, a figure that represents more than 99 percent of the DDA's budget.
The budget document indicates the DDA needed an additional $98,000 for capital improvements to the Old Post Office building it owns. The DDA spent $288,000 on the building last year. The building has sat vacant and unused ever since it was purchased by the DDA in the summer of 2018. The county estimates the property, which is adjacent to the city's Art Station, is worth $190,000.
The DDA last year sold a former county health building to an LLC.
