Refunding of Eastside TAD Bonds Saves Atlanta $10 Million
Thursday, June 16, 2016
Invest Atlanta and the City of Atlanta have refunded $36.4 million of Atlanta’s outstanding Eastside Tax Allocation District bonds. The transaction will save Atlanta $10 million on interest payments over the next 14 years.
The Eastside Tax Allocation District, encompassing parts of east and south Downtown, Sweet Auburn, the Old Fourth Ward and Grant Park, has provided $39 million in funding assistance to several projects that have created jobs, boosted the tax base and improved the District’s economic vitality. In turn, that TAD financial assistance has leveraged $367 million in private investment in projects including: TWELVE, 30 Allen Plaza, Renaissance Walk, Capitol Gateway, land acquisition for Memorial Greenway and building façade improvements along the Atlanta Streetcar route.Tweet