Officials of Walker County, Ga., announced Sunday that the Georgia Department of Community Affairs has made available $15 million in Recovery Zone Bonds for the design and construction of a 150-room hotel and conference center at the Canyon Ridge Resort on Lookout Mountain.
Walker County Commissioner Bebe Heiskell said, "First and foremost, we want to thank Gov. Sonny Perdue and Sen. Jeff Mullis for believing in us and helping make this a reality for Walker County.
"This will have a tremendous economic impact including providing over 250 jobs with pay rates well above the local average and adding significant value to our tax revenue base. This is an incredibly important development, particularly during these challenging economic times."
The money was made available by the state of Georgia through stimulus funding targeted to help get new economic development projects off the ground in a tough economy.
The Walker County Development Authority will continue what has been a two-year due diligence process in hopes of holding an issuance meeting in late November to lock the bonds in place for the project.
Walker County Resources Coordinator Larry Brooks said, "In essence, this money is simply passing through the development authority. Under the plan, no county tax dollars are required to develop the project and create these jobs.
"In exchange for its cooperation, the development authority will require that all jobs first be offered to qualified Walker County residents."
Developers said the final design is in process and a complete unveiling of the project will occur in January.
Canyon Ridge is 3.1 miles south of the intersection of Highways 136 and 157.
An 18-hole golf course has been completed and homesites are for sale.