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Council approves $3.3M TAD developer agreement for 62 single‑family homes
Summary
Council approved a Fort Benning Technology Park TAD developer agreement and grant of $3,317,340.29 to NeighborWorks for development of 62 single‑family homes off Far Road; payment schedule tied to TAD tax increment was noted in the agreement.
Council approved a developer agreement funded by the Fort Benning Technology Park tax allocation district (TAD) with NeighborWorks for $3,317,340.29 to help develop 62 single‑family homes off Far Road. Deputy City Manager said payout would follow a schedule tied to TAD increment and that staff and the developer will coordinate distribution timing based on incremental receipts. The motion carried after a brief presentation and council vote.
Councilors asked staff to clarify distribution timing and the development schedule; staff said the agreement contains a payout schedule and that the developer must meet milestones tied to tax‑increment availability.
