When the Atlanta City Council approved the city’s $567 million budget on Monday, the Eastside Tax Allocation District (TAD) stayed intact.
The Eastside TAD was established in 2003 to help fund economic development in a number of Atlanta neighborhoods adjacent to the Downtown Connector, Freedom Parkway, and I-20. The Eastside TAD includes portions of downtown, Sweet Auburn, the Martin Luther King, Jr. Historic District, the Old Fourth Ward and Memorial Drive.
Councilmember Carla Smith introduced the amendment to keep the TAD open. Councilmembers Smith, Kwanza Hall, Cleta Winslow, and Natalyn Archibong – whose districts include portions of the Eastside TAD – said the TAD is still needed to help revitalize these areas.
“There is so much that still needs to be done in this TAD,” said Smith. “It’s an important economic development tool and we still need redevelopment in this area.”
“Carla Smith championed this legislation by introducing an amendment to keep the Eastside TAD money in place for businesses in dire need of assistance,” said Winslow.
The Eastside TAD also includes much of the Atlanta Streetcar route and the Auburn-Edgewood business corridor. Hall said not retiring the TAD is great news.
“I am grateful to Mayor Reed and his administration as well as our council colleagues for working with us to identify resources to retain the Eastside TAD,” said Hall. “The recession was tough on many property owners in the Eastside TAD. Now that the economy is moving again, the TAD is poised to help us seize the momentum made possible by the arrival of the Atlanta Streetcar and the popularity of the Atlanta BeltLine’s Eastside Trail.”
You can see a full-size map of the Eastside TAD at this link.