TYBEE ISLAND, Ga. (WTOC) – The City of Tybee Island reached a major financial milestone Wednesday, officially retiring its debt on River’s End Campground & RV Park and celebrating the occasion by burning the mortgage over a campfire.
Elected leaders, Chatham County commissioners, campground staff and community members gathered at the 5 Fort Ave. property to celebrate the debt-free status with a campfire lunch of hot dogs and s’mores.
The city purchased the site in June 2006 for approximately $7.13 million through Chatham County Recreation Authority Revenue Bonds, stepping in to acquire the land from a developer to block a proposed condominium project. Over the past two decades, revenue generated directly by the campground paid off the bonds…