What can TAD funds be used for?
The Redevelopment Powers Law outlines the possible uses for TAD funds. In Georgia, TAD funds can be used for grants for capital costs, which include: construction of new buildings; public works or improvements; renovation, rehabilitation, demolition, or expansion of existing buildings; acquisition of equipment; and clearing and grading of land. The Redevelopment Plan for each district specifies the permissible uses of the funds that support the goals outlined in the Plan. TAD funds must be spent on uses consistent with the Redevelopment Plan for the TAD as approved by City Council. Funds must be allocated to projects and spent within the boundaries of the district, as set forth in the Redevelopment Plan.
The Redevelopment Powers Law outlines the possible uses for TAD funds. In Georgia, TAD funds can be used for grants for capital costs, which include: construction of new buildings; public works or improvements; renovation, rehabilitation, demolition, or expansion of existing buildings; acquisition of equipment; and clearing and grading of land. The Redevelopment Plan for each district specifies the permissible uses of the funds that support the goals outlined in the Plan. TAD funds must be spent on uses consistent with the Redevelopment Plan for the TAD as approved by City Council. Funds must be allocated to projects and spent within the boundaries of the district, as set forth in the Redevelopment Plan. Do other cities and counties provide this type of financing? Tax increment financing has been utilized in the United States since 1958; it is a national best practice. Currently, 49 states and the District of Columbia have enabling legislation for tax increment financing. There are mor
