Eastside News and Information

• Map: Boundaries of Eastside TAD (PDF, 1.13 MB)
• Newspaper Coverage: "Downtown boosters back east side tax district," Atlanta Business Chronicle, 10/20/03.

• Contact: For more information contact Tahmida Shamsuddin at 404-658-1877 or tshamsuddin@atlantadowntown.com.

• You can also contact the Atlanta Development Authority at 404-880-4100 and www.atlantada.com.

Eastside TAD Facts

• A tax allocation district (TAD), also known as a tax increment-financing district, is a local financial tool used to redevelop urban areas. It gives cities and counties additional powers to form partnerships with private enterprise without having to create new or increased taxes for the community.
• Tax-exempt bonds are issued to pay front-end infrastructure and eligible development costs in partnership with a private developer. As redevelopment occurs in the district, the “tax increment” resulting from redevelopment projects is used to retire the debt issued to fund the eligible redevelopment costs. The public portion of the redevelopment project funds itself using the additional taxes generated by the project.
• Creation of an Eastside Tax Allocation District for much of Downtown east of Peachtree Street, adjacent to the Westside TAD, will unify the Downtown area.
• An Eastside TAD will help stimulate new investment in this area and encourage new infill office, residential and retail development.
• Would also allow the City to pursue completed redevelopment plans (i.e., Memorial Drive/MLK Jr. Corridor Study and the City Center LCI study) that have not been implemented due to lack of funding. The TAD would provide the 20% of funds necessary as the City’s local cash match required to receive Federal transportation grants for streetscape and transportation improvements within the District.
• Cities such as Washington D.C., Chicago and San Diego have successfully used tax increment financing (TIF) districts (called TADs in Georgia) to revitalize their downtown areas
• Washington D.C. recently approved a $30-million funding package for a TIF district in an effort to lure retailers to their downtown retail core.
• The City of Chicago considers the Central Loop Tax Increment Financing (TIF) District its most successful. The TIF District helped create and retain more than 20,000 jobs, which otherwise would have been lost to surrounding communities. The use of TIF funds to attract and retain businesses will also translate into more than $68 million in new revenues in 2007 for the seven taxing entities, which share in property tax revenues, including schools and parks in the City of Chicago.
• The City of San Diego use of TIF funding has resulted in over $2.4 billion invested in downtown redevelopment, which translates into $410 million of public investment. Annual sales tax, hotel room tax and property tax escalated nearly $48.6 million. Over 6,120 permanent jobs were created, as well as 16,650 construction jobs.

For more information contact Tahmida Shamsuddin at 404-658-1877 or tshamsuddin@atlantadowntown.com.

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