Tax Allocation District (TAD)
Laural Island Annexation & TAD Proposal – (PDF) This is a 6 meg file so it will take a minute or two to load (assuming fast DSL connection).
Georgia’s Redevelopment Powers Law: A Policy Guide to the Evaluation and Use of Tax Allocation Districts – (PDF) This is a third party review of the pros and cons of TADS from the Andrew Young School of Policy Studies, Georgia State University.
Tax Allocation District Financing Revitalized by Georgia Voters – 2 page review of Georgia's TAD by the Southerland law firm (PDF)
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Comments on Tax Allocation District (TAD)
3:12 pm
Dear Winston Barlow and other members:
I would like to talk to you about this initiative. No munipalities – the county, city, or otherwise – will guarantee Tax Alloation District bonds, or any other bonds, associated with this initiative. Instead, the bonds would be backed by the ad valorem revenues above what is being paid to the county now on the ~ 2,000 acre Laurel Island Tract, which is currently in unincorporated Camden County. Instead, the bonds would be funded by a private investor. Also, and contrary to what has been inaccurately conveyed by some, no power of condemnation will be associagted with this initiative in any manner or fashion. I would like to request an opportunity to meet with Winston Barlow and the rest of your group that may want to attend at your earliest convenience and present why I think this intititive is beneficial to the county, city, and people of this area. In short, the economy is horrible and we need to be creative to stimulate economic activity here. Specifically, this intitive will produce (i) jobs, both one-time and permanent, (ii) sales tax revenues, (iii) a customer base for the 2 mgd of sewer St. Marys is coming on line with in the near future at its Point Peter plant, (iv) funing for ~ $20 million in infrustructure improvements in St. Marys, (v) new money coming into the area, and (vi) once the bonds are paid off, ad valorem revenues for the county, school board, and city coffers – these ad valorem revenues may never be produced but for the utilization of this economic development tool. Sincerely, Chip Drury (404-784-0058 & chip@chipdrury.com)