October 10, 2007
Release from the City Manager's Office-
Albany - A tax question regarding the Redevelopment Powers Law will be on the November 6th ballot in Dougherty County.
This release is to announce that the Redevelopment Powers Law will be on the November 6th ballot under "Special Election" as shown below:
"Shall the Act be approved which authorizes the City of Albany to exercise redevelopment Powers under the "Redevelopment Powers Law; as it may be amended from time to time?"
The City of Albany Board of Commissioners is asking the voters to consider authorizing it to act under the Georgia Redevelopment Powers Law. The Redevelopment Powers Referendum, if approved, would authorize the City Commission to designate certain areas of the city as redevelopment zones. The Redevelopment Powers Law allows the Commission to create redevelopment district(s) in which to create incentives for development, and fund revitalization. Each redevelopment district must be approved individually by the Commission through a legislatively defined process including multiple public hearings.
Thoroughly confused now? Here's the bottom line-
Developers often need encouragement to take a risk on a depressed area, especially when there are other options for development. What better incentive than a commitment by government (the City) to dramatically improve infrastructure and services in the depressed area and to assist with development?
There are those who believe that one area of the community shouldn't be forced to fund the redevelopment in another and that revitalization effort could fund itself. That's exactly what a Redevelopment Powers Law does- it uses the additional tax revenue from growth and increasing property values within the redevelopment area/district to pay for the redevelopment- there is no obligation on Albany taxpayers to pay for the redevelopment efforts should the redevelopment district not generate sufficient revenue.
Public forums are scheduled for community education and comment on October 16th and 29th at the Government Center, beginning at 6:00PM.