KDDA Induces Revenue Bonds for Kennesaw Tap & Market

The Kennesaw Downtown Development Authority adopted an inducement resolution to issue economic development revenue bonds for HEYKIM2 LLC’s Kennesaw Tap & Market project at 2881 N. Main Street. The bonds will finance rehabilitation of the historic building under a 20-year tax abatement and PILOT structure, with KDDA leasing the project to the company and granting a purchase option after bond payoff.

Scope & details

The full contract record, as filed.

Contract amount

Economic development revenue bonds not to exceed an aggregate principal amount of $__________ (Maximum Bond Amount to be finalized)

Contract type

FINANCIAL_SERVICES

Contract term

Bond term to be set in bond documents; KDDA proposes a 20-year tax abatement structure under a usufruct lease with PILOT schedule through year 20

Renewal date

2046-12-31

Renewal

The Letter of Intent and Inducement Agreement expires if bonds are not issued by December 31, 2028, unless extended; KDDA proposes a 20-year abatement with no PILOT years 1–3 and $5,000 annual PILOTs in years 4–20. Renewal or extension beyond these terms would require new board action.

Document type

AgendaPacket

Source document

Kennesaw Downtown Development Authority Agenda Packet 2026-07-10

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Kennesaw Downtown Development Authority AgendaPacket 2026-08-14

APPROVED

City of Kennesaw, GeorgiaAug 14, 2026

Kennesaw Downtown Development Authority Minutes 2026-07-10

APPROVED

City of Kennesaw, GeorgiaJul 10, 2026

Kennesaw Downtown Development Authority Agenda Packet 2026-07-10

PENDING

City of Kennesaw, Georgia$100,000 grant from KDDA (plus separate $100,000 grant from KDA)Jul 10, 2026

Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the financial services contract by City of Kennesaw?

Heykim2 Llc was awarded this financial services contract by City of Kennesaw, as recorded on July 10, 2026.

What type of contract is this?

This is a Financial Services contract, documented as a agendapacket record.

Where was this contract approved?

This contract appears in Kennesaw Downtown Development Authority Agenda Packet 2026-07-10 (AgendaPacket), dated July 10, 2026 from City of Kennesaw. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

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