Staff Photo by John Rawlston/Chattanooga Times Free Press
Barry Walston addresses members of the Walker County Development Authority as they take questions and comments about a bond proposal during a public hearing at the Walker County Civic Center on Monday.ROCK SPRING, Ga. — Walker County residents won’t be on the hook for any of the $15 million in federal stimulus money being sought for a proposed hotel and conference center on Lookout Mountain, county officials told a crowd Monday.
What officials didn’t admit until repeated questions from the crowd is that a property tax increase could be levied on residents to make up $36 million in bonds backed by the county if the development goes bankrupt.
“Is it the right thing to do for us as taxpayers to stick our neck out for a hotel?” asked Brian Hart, of Villanow, Ga.
Walker officials have only a few days to decide whether or not to approve a bond issue that would give the development $15 million in stimulus money to pay for part of the $51 million tab.
On Monday, about 50 residents flooded a meeting room at the Walker County Civic Center, expressing wariness of so-called “free money.”