Decide DeKalb Opens Kensington Tax Allocation District (TAD) Application
DeKalb County, GA – Decide DeKalb Development Authority is pleased to announce that applications are now open for the Kensington Tax Allocation District (TAD). Located in central DeKalb County, the Kensington TAD covers the Memorial Drive corridor with the City of Avondale to the southwest and the City of Clarkston to the north.
Known nationally as tax increment financing, Georgia introduced TADs in 1985 as a redevelopment tool to help revitalize underutilized or blighted areas. While the overarching goal of a TAD is to make the area appealing for improvement and redevelopment, the Kensington TAD supports the development of green space, new in-fill and anchor projects, and the implementation of public infrastructure and amenities.
Developers and investors have the option to apply for corridor streetscape and façade improvements and/or safety, security, and quality-of-life improvements with the Kensington TAD. Funding is $135,000 for each of the two options.
While this corridor of the county has suffered from uneven economic growth over the last several years, Decide DeKalb is adamant that significant opportunities lie ahead for this highly accessible and vibrant community. Dorian DeBarr, President of Decide DeKalb, believes “the intentional nature with which we approached this project is apparent. The Kensington TAD aligns perfectly with Commissioner Steve Bradshaw’s brilliant work with the Memorial Drive Revitalization Corridor Plan. We certainly want to see that multifaceted plan come to fruition and coupled with the new Kensington TAD, both efforts are positioned to bring about transformative change to this portion of the county.”
The Kensington TAD features a mix of low-density commercial and multi-family residential uses and has limited retail competition to its south. DeBarr continues that “developers and investors will clearly see the opportunity in this area. Decide DeKalb looks forward to facilitating those conversations and assisting those who wish to apply.”
Qualified developers, property owners, and business owners seeking to develop catalytic redevelopment projects, or to learn more about the Kensington TAD, are encouraged to review the program guidelines at DecideDeKalb.com/redevelopment before applying.
About Decide DeKalb
In partnership with DeKalb County via an intergovernmental agreement (IGA), Decide DeKalb serves as the primary facilitator of business development and job growth throughout the county. Follow Decide DeKalb on Twitter, Facebook, Instagram, and LinkedIn.
Media Contacts:
Terra Washington
Decide DeKalb
404. 277.5958
[email protected]