CSU Stages Final Forums on Redevelopment Powers
COLUMBUS, Ga. -- Muscogee County residents have two more opportunities to attend a forum organized by Columbus State University to educate voters about Tax Allocation Districts before the Nov. 6 election.
Local voters will decide then if the City Council has the authority to establish TADs, which are used to stimulate economic development, particularly in underdeveloped and blighted areas.
Georgia established these redevelopment powers in 1985 to allow cities and counties to partner with private developers on projects. In areas where TADs are allowed, tax allocation bonds can be issued to finance redevelopment that’s expected to generate increased tax revenues, which are used to pay off the bonds. The process is known as tax incremental financing. Property taxes are unaffected.
Thanks to a Knight Foundation grant, CSU's D. Abbott Turner College of Business is providing the expertise to develop materials to give voters information about redevelopment powers and Tax Allocation Districts at these two remaining forums:
Thursday, Oct. 11 at 6 p.m. – Baker Middle School, 1215 Benning Drive.
Monday, Oct. 15 at 6 p.m. – Midland Middle School, 6990 Warm Springs Road.
Earlier forums were held Sept. 24 and Sept. 28.
Twelve of the 13 tax allocation districts created in Georgia are in the metropolitan Atlanta area. One of the best known is Atlantic Station, which involved transforming a 138-acre steel mill site into a mixed-use development of homes, retailers and entertainment venues.