Wednesday, December 18, 2019

Developer seeks ‘pause’ for controversial tax break on Beltline

By: J. Scott Trubey, The Atlanta Journal-Constitution

A developer requesting $22.5 million in tax breaks from the city of Atlanta for a posh project along the Beltline asked for a delay amid complaints from critics and as the project appeared to lack votes to win approval from a city board.

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Experts who study government incentives questioned the need to provide a tax break for a luxury project in one of the city’s hottest neighborhoods. They also questioned the wisdom of providing such an incentive in a TAD, which relies on growth in the tax base to help fund the Beltline.

J. Mac Holladay, the former chief operating officer of the Governor’s Development Council under former Gov. Zell Miller, said incentives for the project should not immediately be rejected.
Holladay said Irwin helped make the Beltline’s Eastside Trail what it is today as an executive at Jamestown when it revitalized a hulking former Sears warehouse into Ponce City Market.

“If you have got somebody who will do an enormous and important project like this, way beyond what has been proposed for that property previously, it’s worth taking a look what they’re asking for and why they’re asking for it,” Holladay said.

Holladay, who runs Market Street Services, an economic and community development consultancy, said Invest Atlanta and New City should be able to tweak the proposal and find common ground.

To read the full article, click here or email Alexia Eanes.