Decide DeKalb receives unanimous approval for the formation of the Southwest DeKalb Tax Allocation District
DECATUR, GEORGIA (December 19, 2023) – DeKalb County’s Board of Commissioners have unanimously approved the creation of the Southwest DeKalb Tax Allocation District (TAD) with hopes to kickstart economic development efforts in the area. The boundaries of the Southwest DeKalb TAD include Glenwood & Candler Roads, Flat Shoals Road, Constitution Road, and Moreland Avenue. The 794 parcels that make up the new TAD fall within unincorporated DeKalb County.
A TAD, also known as tax increment financing, is a tool that governments use to help generate new economic development in underdeveloped or distressed areas. Redevelopment costs are financed through the pledge of future incremental increases in property taxes generated by the resulting new development. TADs are created to promote economic development and TAD monies can be used to finance development that otherwise wouldn’t occur as well as to finance public infrastructure improvements to stimulate more activity in the district.
“The Southwest DeKalb Tax Allocation District represents an intentional effort by Decide DeKalb to focus on its mission of placing people in the community first. This TAD seeks to build new opportunities for those members of the community while simultaneously enhancing education, workforce development, business resources, small business growth, housing options, parks and greenspace, and various public amenities to make for a stronger community,” said Decide DeKalb President Dorian DeBarr. “With such a solid foundation we anticipate a Southwest DeKalb everyone can be proud of once again.”
The current Southwest DeKalb TAD area property value is appraised at $891 million. The potential new redevelopment value is estimated at $1.3 billion and includes additional residential units, retail, general office, and industrial/studio space. The Southwest DeKalb TAD estimated value is anticipated to be $2.1 billion total post redevelopment.
“We are extremely motivated and intentional with bringing smart, transformative development to the Southwest DeKalb corridor,” said Larry Johnson, DeKalb County Commissioner District 3. “This tax allocation district is certainly one way to further expand and build on the businesses. Also, this will keep the revitalization momentum going in our area. I am thrilled to be a partner alongside Decide DeKalb in making this community the best it can be.”
“A thriving, prosperous Southwest DeKalb fully equipped with community trails, parks, gardens and sidewalks benefiting residents along with a vibrant housing and business community is attainable and this TAD is the spark to help reset development in the area”, said Ted Terry, DeKalb County Super District 6 Commissioner. “I anticipate the positive outcome this TAD is sure to bring.”
More information on this TAD will be available on Decide DeKalb’s website in early 2024.