Council moves to dissolve Atlantic Station TAD after Invest Atlanta presentation; distributions to taxing jurisdictions to follow

Invest Atlanta told the City of Atlanta Finance and Executive Committee on Jan. 29 that the Atlantic Station Tax Allocation District (TAD) has fulfilled its redevelopment objectives and recommended dissolving the district; the committee approved a related ordinance and ordered distributions to taxing jurisdictions.

Eloisa Clementich, president and CEO of Invest Atlanta, described the TAD-backed cleanup and infrastructure work that enabled redevelopment of the former Atlantic Steel site into Atlantic Station, and she presented a timeline and outcomes including remediation volumes, infrastructure investments and awards. Clementich said the TAD funded “approximately $250,000,000” in public investment for infrastructure and environmental cleanup and that “approximately a hundred and 67,000,000 of the 250,000,000 needed for the cleanup…was directly provided by the tax allocation district.” She said the redevelopment produced significant property value increases over time.

Clementich described remediation actions including excavation of contaminated soil, placement of clean fill over remaining slag, a groundwater collection and treatment system, demolition and asbestos abatement and recycling of concrete from mill foundations. She said the site now supports mixed-use development, nearly all infrastructure work originally targeted by the TAD and ongoing programs such as an Access and Mobility program (ASAP) to reduce vehicle-miles traveled.

On projected fiscal effects, the presentation listed estimated 2025 collections that would flow to taxing jurisdictions once the TAD dissolves — the city “about 7,000,000,” Fulton County “6.5 million” and Atlanta Public Schools “15,000,000” (figures stated on the record by Invest Atlanta). The presentation also included another set of “payment upon dissolution” figures that were unclear in the transcript; committee discussion treated the listed estimates as approximations to be finalized in closing accounting.

Council members widely praised the TAD’s redevelopment results. Councilmember Overstreet called it “a great example” of TAD use; Councilmember Winston and others thanked Invest Atlanta staff and noted investments in infrastructure, jobs and environmental improvements. Neil Chapett, Invest Atlanta’s CFO, answered questions about assessed value trends and noted that development and market cycles affected timing of assessed value growth.

After discussion, the committee voted 7–0 to approve the ordinance that finds the Atlantic Steel/Atlantic Station TAD substantially complete and directs dissolution procedures and distribution of remaining TAD funds to the city, Fulton County and Atlanta Public Schools in the shares described in the legislation.

Ending: With adoption of the ordinance, the committee directed staff to proceed with dissolution steps and distribution accounting; council members asked Invest Atlanta and county partners to continue post-dissolution analysis of long-term neighborhood impacts.