The Atlanta Development Authority (ADA) serves as a redevelopment agent for all tax allocation districts (TADs) formed within the City of Atlanta. Ten such TADs have been established:
- Atlantic Station
- BeltLine
- Campbellton Road
- Eastside
- Hollowell/ML King
- Metropolitan Parkway
- Perry-Bolton
- Princeton Lakes
- Stadium Area
- Westside
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Tax allocation districts are one of the City of Atlanta’s most valuable economic development tools. Also known as tax increment financing (TIF), tax allocation financing is a redevelopment and financing tool by which governments can provide financial assistance to eligible public and private redevelopment efforts within an officially designated area or TAD. Increases in property tax revenues, which are generated primarily from new investment in the district, are allocated to pay infrastructure costs or certain private development costs within the TAD. This is primarily done through the issuance of tax allocation district bonds. Approval to establish a TAD must be obtained from all governments with tax authority within the district (City, County, and school) in order to use all portions of property tax revenues.
TAD Process
In the first step of the project approval and bond issuance process ADA staff meets with each developer to discuss the conceptual project overview. After reviewing the project scope, ADA determines the project’s eligibility. If the project appears consistent with the goals outlined in the Redevelopment Plan, the developer’s next step is to complete and submit the TAD application and application fee. In addition to thorough staff evaluation, underwriting, feasibility and fiscal analysis, projects are presented to a community advisory board or committee, which makes recommendations to the ADA Board in support of or against individual projects. Developers of approved projects enter into a ‘Developer Agreement’ with the City and ADA, the conditions of which must be approved by the ADA Board. City Council must then approve the full bond document and funding amounts before tax allocation bonds are sold. The proceeds from the bond issue are distributed to the developers as outlined in the bond documents.
TAD Project Selection and Bond Issuance Process
TAD Developer Requisition Process
Map of the City's 10 Tax Allocations Districts with MARTA Stations
Status of Approved Residential Projects
Approved TAD Projects
4Q 2011 Financial Statements
For more information about Tax Allocation Districts, please contact Amanda Rhein at arhein@atlantada.com or 404-614-8282.
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