Fulton County approves College Park Tax Allocation District

Last week the Fulton County Board of Education unanimously approved action to financially support the College Park Tax Allocation District (TAD). The school board’s action requires the finalization of an intergovernmental agreement containing four conditions necessary for board support.

Georgia’s Tax Allocation District allows property taxes generated by new development within a designated district or area to be used to finance public infrastructure, land acquisition, parking, storm drainage, curbs, sidewalks and other city-based uses. College Park voted in July to establish a Downtown TAD.

The overall goal in establishing the TAD is to plan for a revitalization of the downtown area by refurbishing and refreshing the city’s center. College Park’s aim is to attract new private development and investments, and therefore, new customers, jobs and eventually, additional tax revenues. The city’s Comprehensive Plan, a long-term plan to redevelop College Park, has been planned to have started in 2011 and be completed by 2031.