F'ville to consider redevelopment plan

Sun, 08/23/2009 - 10:52pm
By: Ben Nelms

It is a mechanism used in some Georgia localities to turn economically deficient areas into productive ones. The Fayetteville City Council will meet in called session Monday at 4 p.m. to consider the feasibility of initiating a Tax Allocation District (TAD) process in the city.

Essentially a redevelopment tool, the process requires voter approval to form a redevelopment agency, followed by the city council’s identification of an area through a public hearing process, that would qualify as a TAD project. A qualifying area must be either blighted or distressed, deteriorating or one with inadequate infrastructure.

Financing for TADs comes as the tax base for the project area is frozen to form a base valuation, with property taxes used to pay eligible redevelopment costs. Bonds may also be issued to help finance projects. Subsequent annual tax revenues in the project area are used for the redevelopment.

Perhaps the best known example of a TAD is the Atlantic Station project near downtown Atlanta.

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Submitted by tikigod on Tue, 08/25/2009 - 10:57am.

They should take tax dollars to fund the redevelopment of the pavilion into some nice grassy fields.

Now that would be an improvement.

Shoebox's picture
Submitted by Shoebox on Mon, 08/24/2009 - 10:13am.

what the city council wants to do and where? Maybe the whole city?


Tug13's picture
Submitted by Tug13 on Mon, 08/24/2009 - 1:38pm.

Well, a good place to start is... ask the Downtown Development Authority chairman (Al Hovey King)how much they paid for the old Travis Hardware Building. He happens to be on the city council too.

I hope Fayetteville citizens/voters will ask lots of questions and do lots of research! You might be surprised at what you find! Eye-wink

Tug Smiling


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