New committee will oversee TAD -, Albany News, Weather, Sports

New committee will oversee TAD

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By Wainwright Jeffers - bio | email

ALBANY, GA (WALB) – A new advisory committee to oversee the City of Albany's tax allocation district met for the first time on Wednesday.

The committee approved their by laws, selection of board officials, and approved a TAD application for project financing.

The tax district includes downtown Albany and parts of east Albany.

Property taxes on new development within the district will be used for improvements and encourage future development.

City, county, EDC, and school board representatives make up the committee.

Right now a projected $58 million could come in from the tax district over the next 30 years.

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