Alpharetta authority approves bond inducement for Equifax expansion, pledges 10-year abatement for one building

The Development Authority of Alpharetta on Wednesday unanimously approved a bond inducement resolution for Equifax Inc. that would support conversion of approximately 65,000 square feet on the third floor of a campus building at 1505 Windward Concourse into office space for the company’s technology team.

The inducement would limit tax-incentive treatment to the renovated three‑story building after Equifax subdivides its 17‑acre campus into separate tax parcels; the authority and the company intend to leave the garage and larger existing building on a separate parcel, according to staff and counsel. The authority’s action authorizes staff to return later with final bond documents and bond closing steps.

The inducement matters because it is intended to promote local employment and property tax growth: staff said the project is expected to create 244 new jobs with an average annual salary of about $150,000 and to increase assessed value for property taxes. Bond counsel and staff described an estimated assessed value for the renovated three‑story building of about $37,000,000 and said the incentive would be the standard Fulton County 10‑year abatement applied only to that subdivided parcel.

Charlie Jewell, Alpharetta economic development staff, told the authority that Equifax plans to renovate the third floor “to convert it from a data center space into a workspace for its corporate technology team” and that, if approved, the company anticipates moving forward later this year. Woody Vaughn of Holland & Knight, serving as bond counsel, described the inducement as a routine resolution with one wrinkle: because the campus sits on a single tax parcel, the company will subdivide the campus so only the renovated building receives the abatement.

Trey Briscoe, senior vice president of global real estate and strategic sourcing at Equifax, said Equifax has operated in Alpharetta since 1989 and described the campus as the company’s largest location globally. Briscoe said the company currently employs “a little over 1,400 employees” at the Alpharetta location and has roughly 1,700 seats today; the project, he said, will allow growth “to close to 2,000” seats over time.

Bruce McCall, attorney with Miller & Martin representing Equifax, and company real estate leaders Pete Skaggs and Laura Padgett Waterman were present for questions. No members of the public spoke in favor or opposition during the public‑comment period for the item.

Authority member Sean (surname not provided) moved to approve the inducement resolution; Authority member Dan (surname not provided) seconded. The motion passed unanimously.

Staff and counsel said the inducement is not the final bond closing. If the authority proceeds, it will return with a final bond resolution and the related bond documents; the incentive is conditioned on the company subdividing the tax parcel and on later bond closing steps.

The authority’s statement of purpose notes it derives powers from the Georgia General Assembly and a City Council resolution adopted Sept. 3, 1996. The inducement resolution approved Wednesday does not itself obligate the authority to issue bonds; it authorizes future steps toward bond issuance and tax‑incentive treatment limited to the described building.

Looking ahead, staff and counsel said Equifax may consider converting the first floor in the future, but any additional incentives or approvals would require separate authority action and documentation.