Might Tax Allocation District jump start Albany economy? - WALB.com, Albany News, Weather, Sports

Might Tax Allocation District jump start Albany economy?

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By Karen Cohilas - bio | email

October 20, 2008

ALBANY, GA (WALB) - On Monday, Assistant City Manager James Taylor presented an update to county commissioners about the status of the district, called a 'TAD.'

He says if all goes as planned, the city will adopt and create the district next week. It will allow the city to give incentives to businesses, growing the tax base and economy.  

"We get them wanting to be here because there's an economic benefit to being downtown and being in and around Walmart and we back out of the game. There's no reason to be in the game. Our reason we're in the game is to incentivize those to come here. Once they're here and they're successful, and this becomes a money making area, we won't have to ask people to come, they'll be asking us to come and that's when we shut down the TAD," Taylor said.

The city hopes to have the tax allocation district finalized by December 31st. If it's not, the city will have to wait another year before adopting a TAD.

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