Tax Allocation District Plan (TAD)
The South Fulton Redevelopment Plan, presents the rationale, boundaries, fiscal data, and proposed projects that could result from the formation of the City of South Fulton, Tax Allocation District #1: East Side, and Tax Allocation District #2: West Side. These two Tax Allocation Districts (TADs) are located within the larger redevelopment area and are complementary components of a comprehensive revitalization effort for the City of South Fulton. This redevelopment plan was prepared by Bleakly Advisory Group, Inc. (BAG) in conformance with the provisions of Georgia Redevelopment Powers Law (O.C.G.A. Title 36 Chapter 44), which governs the creation of the Tax Allocation Districts (TADs) in the state. The intent of proposing two TADs within a larger redevelopment area is to coordinate a comprehensive revitalization strategy that will enable the City to support complementary redevelopment projects that collectively would have a considerable positive economic impact.
Tax allocation districts (TADs) are Georgia’s version of tax increment financing. Tax increment financing (TIF) is a redevelopment funding mechanism that reinvests the future taxes from real estate development back into a project as an incentive to attract new private investment into an area.
In total, the proposed two TADs contain 1,298 parcels totaling roughly 5,845 acres, with a taxable real estate digest of $157 million. A map is provided below.
- TAD #1: East Side would incorporate a total of 961 parcels, an area of 1,113 acres. The properties in TAD #1 have a fair market value of $233 million and a taxable value of $93 million.
- TAD #2: West Side would incorporate a total of 337 parcels, an area of 4,732 acres. The properties in TAD #2 have a fair market value of $159 million and a taxable value of $64 million.
Together, the value of the properties in the TADs represents approximately 6.1% of the City’s tax digest, well under the 10% maximum limit for all TADs in the City, as required by Georgia’s Redevelopment Powers Law.
The City of South Fulton Redevelopment Plan envisions various potential redevelopment within the two TADs areas that reflect community objectives as the type of development they would like to see in the respective areas over the next decade. The objectives and desirable development character were identified in:
- The 2035 Fulton County Comprehensive Plan,
- Recommendations for the areas within each of the two TADs in the Economic Development Strategic Plan prepared for the city by BAE Urban Economics, and
- Input, gathered by Bleakly Advisory Group from city staff and district leadership representatives.