The final piece of public financing is finally in place to redevelop the former General Motors plant in Doraville, a project that will start with 500 new jobs.
The DeKalb County Board of Commissioners voted 7-0 on Tuesday to invest in the 165-acre Doraville site, now called Assembly.
The board created a tax allocation district that will leverage anticipated future tax revenue to pay for infrastructure, including a covered street connecting the site to MARTA.
A total of $180 million in public money is being allocated to improve the site and attract businesses.
The county school system didn't sign on to the tax allocation district, but money that would have otherwise gone toward public education is nevertheless being diverted to the development through a complex financing arrangement that includes tax breaks approved by the Doraville Development Authority in August.
An unnamed corporation plans to relocate 500 jobs to the site now that taxpayer funding of infrastructure is in place, according to developers.
Please read the full story on MyAJC.com.
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