Invest Atlanta Now Accepting Applications for New Eastside TAD Projects
Tuesday, September 20, 2016
After achieving success with previous Eastside Tax Allocation District (TAD) development and façade improvement grant projects, Invest Atlanta is now accepting new applications for qualified development and improvement projects in the Eastside TAD. Through the Eastside TAD, the City of Atlanta is providing tax increment financing to fund infill projects in Downtown and surrounding neighborhoods and to promote the implementation of public infrastructure and amenities that are critical to building a sustainable community.
The Eastside TAD includes the areas of Sweet Auburn, Old 4th Ward and parts of Grant Park, Cabbagetown and Downtown Atlanta. As the redevelopment agent for the Eastside TAD, Invest Atlanta periodically invites developers, property owners and businesses seeking to develop real estate projects or improve eligible property within the Eastside TAD to apply for funding from one of two programs:
- Resurgens Fund Grant, providing gap financing for catalytic real estate projects; or
- Downtown Façade Improvement Grant, offering matching grants toward the exterior improvement of buildings.
Projects applying for TAD funding must show how they positively impact and revitalize the community by creating a diverse base of permanent jobs, reusing vacant or obsolete buildings, developing near public transit stations or stops, and increasing the property tax base. One example of a recently completed Eastside TAD-funded project is the exterior renovation of property along Auburn and Edgewood Avenues that was funded through $900,000 in Eastside TAD grants.
Learn more about the Eastside TAD and obtain program guidelines and an application here.Tweet