Bad TAD

AJC, 6/7/18 page 1 article “Fight brewing over Eastside incentive funds” reports pushback on the City of Atlanta’s cancellation of redevelopment funds for Atlanta affordable housing, which is an oxymoron like military intelligence, because affordable housing is only found in the boondocks.

The Eastside TAD was established in 1992 and stretches from North Avenue to Memorial Drive and parts of downtown east to the Beltline.

A TAD is a Tax Allocation District where tax funds are used to subsidize “economic development”. These never work, because the developers have no long-term financial stake in the projects. They are tax subsidized boondoggles like the Trolley.

The TAD is the most expensive way a city can attempt to deal with urban blight.  Property in the city, once owned by an individual or corporation that is not maintained will deteriorate. Buildings will sit abandoned.

These failed land owners need to take their lumps and sell their land at a loss, but often cities overreact and get on the hook for a tax funded bailout or worse buy the land themselves.  All TADs are bad.

Atlanta has crumbling sewer and water issues and doesn’t need to be in the urban redevelopment business.

Norb Leahy, Dunwoody GA Tea Party Leader