What Is Amendment 2 All About?
In February 2008, a Georgia Supreme Court ruling took away the right of school districts statewide to invest future financial resources in redevelopment projects. This decision has severely handicapped a valuable redevelopment incentive: tax allocation districts, or TADs. Amendment 2 would restore to each school district the right to choose for itself and its community whether or not to contribute future property tax revenue to a TAD. TADs have been around for 50 years. Midtown Atlanta’s own Atlantic station, a 138-ace former brownfield, is a well known and nationally commended example of a successfully implemented TAD. Today, TADs are a national best practice, approved by the laws of 49 states. In fact, all but three of those 49 states permit the participation of local school districts. The purpose of the upcoming referendum, on the ballot on November 4, 2008, is to restore the ability of local boards of education to opt into a TAD. It’s all about restoring local control to schools. A
