TAD FINANCING

The development site is in the westside TAD. As such, a new development is entitled to apply to the Atlanta Development Authority for an allocation of bond money to fund development costs from eight percent (8%) to ten percent (10%) of the total development budget.

There is no affordable housing requirement for residential projects that receive TAD funds.

A number of projects within a mile have already been funded including
the following:

Project Westside TAD Funding Total Project Cost 55 Allen Plaza $5,400,000 $78,042,300 Historic Westside Village $4,100,000 $34,674,200 Marietta Place $1,300,000 $11,310,000 Park Pavilion $2,400,000 $38,152,000 The Glenn Boutique Hotel $1,500,000 $20,900,000 Winecoff Hotel $1,300,000 $20,528,000 World of Coke $5,400,000 $96,400,000 Subtotal $21,400,000 $300,006,500

 

If you have questions about the TAD and the application process, please contact:

Amanda Rhein
Project Manager, Tax Allocation Districts
Atlanta Development Authority
86 Pryor Street, SW
Suite 300
Atlanta, GA 30303-3131
Direct: (404) 614-8282
Fax: (404) 880-9333
Email: arhein@atlantada.com
www.atlantada.com/buildDev/westside.jsp

 

Below is a link to the program description of the westside TAD.  Projects are entitled to up to 70% of their bond allocation, with 10% going to a new Public Purpose Development Fund and the remaining 20% to the Neighborhood Fund to promote the redevelopment of English Avenue and Vine City neighbhorhoods.

Issuance of bonds requires bundling a number of projects together.  Market conditions now dictate that no bonds will be issued until at least 2014.

TAD Program Description (Word Doc)