Local & State Headlines

PDA adopts 2008 budget

Barbara Rivera Holmes

ALBANY – The Albany-Dougherty Payroll Development Authority adopted Monday a fiscal 2008 budget of almost $50,000, the most of its income streaming from MacGregor Golf Co. at Pecan Grove Industrial Park.

The budget adopted is for October 2007-September 2008.

During that time, the PDA expects to receive $184,500 in income – $134,460 from MacGregor Golf; $6,000 from Joe's Automotive and Olympus Properties each, $28,500 from investment interest and $9,600 from Water, Gas & Light Commission's investment in the Albany Dougherty Economic Development Commission's Imagine Albany 2010.

Money for Imagine Albany 2010 will be funneled to the EDC through the PDA, said Tim Martin, president and CEO of the Albany Area Chamber of Commerce.

According to material presented at the 9 a.m. meeting, the authority's expenses are expected to total $137,375.90, which breaks down to:

• $12,300 for the Parkway Industrial and Pecan Grove parks
• $9,600 for Imagine Albany
• $90,475,90 for bond interest
• $5,000 for an audit
• $15,000 for chamber administrative services
• $5,000 for legal services

The PDA's budgeted net income for fiscal '08 is $47,184.10.

Martin said the budget adopted Monday doesn't differ much from the 2007 budget.

PDA budgets, he said, are driven by the projects with which it's involved.

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