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Tuesday, October 28, 2008
Not every good project deserves a TAD
The Atlanta Journal-Constitution
Besides electing a president, Gwinnett County voters must make a decision about a proposed constitutional amendment.
On the ballot, it’s listed as Amendment No. 2:
“Shall the Constitution of Georgia be amended so as to authorize community redevelopment and authorize counties, municipalities, and local boards of education to use funds for redevelopment purposes and programs?
The law would allow the creation of TADS - special tax allocation districts. The growth in value of the property is diverted to developers to finance renewal projects.
I wrote about this issue in a column that appeared on Feb. 2, 2008, in the Gwinnett News. I said that TADs were indeed viable funding mechanisms for truly blighted areas whose redevelopment proved too costly for local governments and developers. My example: the OFS Brightwave fiber optics plant at Jimmy Carter Boulevard and I-85, which would require expensive sewer and infrastructure upgrades.
But as we have seen in metro Atlanta, sometimes the term blighted is applied to areas that don’t fit the bill. Examples: Centennial Olympic Park in downtown Atlanta and, in Suwanee, the area surrounding Exit 111 off 1-85 where growth is occurring naturally.
Not every good project merits a TAD.
The question is: Should they be allowed at all?
You get to decide the issue on Nov. 4.
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