A private developer

is seeking help from the Peachtree City Council in establishing a high-income

apartment complex for seniors.

Rents for The

Parc at Peachtree City would range between $2,100 and $2,600 a month,

with amenities such as a cafeteria, 24-hour medical assistance and a putting

green in the rear of the facility. Council is being asked to establish

a senior facilities authority through which the developer could issue

bonds to pay for the $18.5 million, three-story structure.

As the process

was explained to council at its meeting last week, councilwoman Annie

McMenamin expressed concern about "creating another level of government."

Norm Hansen

of Prime Communities explained that the bond issue would lower the cost

of financing and, in turn, lower the rents that could be offered to local

residents.

The request

was tabled by council so a small committee could be formed to investigate

the matter further.

The federal

government is now allowing subsidies to be used for housing that's needed,

and in this case that's housing for senior citizens, said David Cole,

who explained the issue to council. The rents would be $500 less per month

than is proposed for a similar project that's under construction in north

Atlanta, Cole said.

The catch about

the deal could be that this is the first such type of project that would

be built in the area. Another question how much liability the city could

face if the business fails must also be answered.

In case council

decides to create a senior facility authority, plans are being discussed

to have Development Authority members named to the new seniors facility

authority. That makes sense because the authority has issued similar types

of bonds in the past, said Mayor Bob Lenox.

Councilman

Steve Rapson said given that the property is zoned for multi-family housing

anyway, this would be a nice way to develop the land.

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