This page features information about two programs that provide financing to build or expand businesses in Atlanta’s neighborhoods targeted for redevelopment:
New Markets Tax Credit Program
NMTC funds can be used for larger projects (requests for $2 million and up) as loans for operating businesses or real estate developers. The funds can be used for operating and capital costs.
The NMTC program is managed by Atlanta Emerging Markets, Inc, (AEMI), a wholly owned subsidiary of the Atlanta Development Authority.
Here are links to more information about the New Markets Tax Credit program:
Tax Allocation Districts
This program is managed by The Atlanta Development Authority.
Tax Allocation Districts, or TADs, are established for the purpose of catalyzing private investment by financing certain redevelopment activities in underdeveloped or blighted areas using public dollars. TAD funds, known in other communities as TIF or tax increment financing, can be used as grants for capital costs. The redevelopment plan for each district specifies the permissible uses of the funds that support the goals outlined in the plan. The amount of TAD funding allocated for projects in a TAD is determined by the projected increase in property value that will result from the new development. Tax increment financing is a widely used economic development tool that offers local governments a way to revitalize their communities by expanding their tax base. TADs act as a catalyst to attract and leverage further private investment into economically depressed areas.
The City of Atlanta has ten TADs:
More information is available at www.atlantada.com
How Developers Can Access TAD Incentives in Atlanta's Emerging Markets, Feb 24, 2010