KDDA Issues $480M Bond for Lacy Project

The Kennesaw Downtown Development Authority issued a Series 2022 Economic Development Revenue Bond up to $480 million for Kennesaw Development Owner, LLC to finance the multifamily project at 2652 South Main Street, structured with a 20-year tax abatement and annual PILOT payments. KDDA retains fee title to the project under a rental and option agreement.

Scope & details

The full contract record, as filed.

Contract amount

$480,000,000.00

Contract type

FINANCIAL_SERVICES

Contract term

20-year tax abatement; bond dated July 21, 2022

Renewal date

2042-07-21

Renewal

Bond and associated rental/option agreements dated July 21, 2022 with a proposed 20-year tax abatement term; subject to ongoing PILOT payments and eventual bond closing at end of construction phase.

Document type

AgendaPacket

Source document

Kennesaw Downtown Development Authority AgendaPacket 2026-08-14

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kennesaw-downtown-development-authority-authorizing-resolution_381.pdf

AMENDED

City of Kennesaw, GeorgiaSep 12, 2025

City of Kennesaw City Council Work Session Agenda November 2024

APPROVED

City of Kennesaw, GeorgiaNov 25, 2024

Frequently asked questions

Common questions about this contract, answered from the record.

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

Kennesaw Development Owner Llc was awarded this financial services contract by City of Kennesaw, as recorded on August 14, 2026. The contract value is $480,000,000.00.

How much is the Kennesaw Development Owner Llc contract with City of Kennesaw worth?

The Kennesaw Development Owner Llc contract with City of Kennesaw is valued at $480,000,000.00, covering financial services work.

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 AgendaPacket 2026-08-14 (AgendaPacket), dated August 14, 2026 from City of Kennesaw. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does Kennesaw Development Owner Llc hold?

Kennesaw Development Owner Llc may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.

View Kennesaw Development Owner Llc's profile

What is City of Kennesaw currently buying?

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