Doraville Mayor Donna Pittman announced Tuesday that DeKalb County approved an agreement with Doraville to create a tax allocation district, which is integral to the city’s economic development plans, including the city’s Assembly project.
Assembly is the name of the development project planned by Doraville city council. The vote allows for the issuance of $247 million in infrastructure bonds that will be repaid over the next 25 years. No existing tax monies will be used, but instead revenue from future increases from the project’s property values will be used to pay off the infrastructure bonds.
“I am pleased to announce that the DeKalb County Board of Commissioners unanimously voted to approve the intergovernmental agreement between them and the city of Doraville to create a tax allocation district that will help fund infrastructure for the Assembly project,” says Pittman.
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