Voters Approve City Referendum - WALB.com, Albany News, Weather, Sports

Voters Approve City Referendum

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November 6, 2007

Albany - - Voters overwhelmingly passed a referendum that could help boost development in Downtown Albany.

The Redevelopment Powers Authority referendum got 68 % of the vote.

Now that you passed the referendum, city leaders have the power to create special tax districts in blighted areas. New businesses that come into those districts will get special incentives.  

"It's going to be a great help to the development of Downtown. In effect, what the redevelopment power act is going to do is allow downtown area to be able to take care of itself," says Phil Cannon of the Downtown Merchant's Association.

Additional tax revenue generated from new development in a tax allocation district will be spent in that district to encourage even more development.

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