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Council hears fast‑track plan to create Innovation tax allocation district before year‑end
Summary
Outside counsel Charles Johnson and consultant KB Advisory Group told council a tax allocation district (TAD) tied to redevelopment near the former Owens‑Illinois site could be created by Dec. 31 if the council adopts a redevelopment plan and holds required public hearings; the TAD would capture incremental property‑tax growth for local projects.
Attorney Charles Johnson and redevelopment consultant KB Advisory Group briefed the City Council on launching an “Innovation” tax allocation district (TAD) to support redevelopment around the former Owens‑Illinois site and nearby industrial corridors.
Johnson said a TAD allows a city to lock in a current property‑tax base and then use the subsequent increment (growth in property‑tax revenues over the base) to finance infrastructure or incentivize development within a designated district. He said state law limits total TADs in a jurisdiction and noted East Point previously terminated the Camp Creek TAD in 2023 to preserve the legal capacity to create a…
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