From the Atlanta Business Chronicle:

Governor inks local development measures

Atlanta Business Chronicle – by Dave Williams Staff Writer

Gov. Sonny Perdue Thursday announced the signing of four local bills aimed at fostering development in several of metro Atlanta’s suburban communities.

Three of the measures will allow voters in Douglas County and the cities of Douglasville and Roswell to decide whether to create tax allocation districts (TADs) in those areas.

The fourth bill, which is not subject to voter approval, authorizes the formation of one or more community improvement districts (CIDs) in the city of Woodstock.

When local governments create TADs, a widely used approach to redevelopment in Atlanta, they borrow money to pay for redevelopment projects, then repay the funds using the additional tax revenues those improvements generate.

Community improvement districts are formed by businesses that agree to tax themselves to finance infrastructure and other improvements within the districts.

Under the Douglas County and Douglasville bills, residents will vote this November on whether to create TADs. The Roswell TAD legislation calls for a referendum no later than the fall of 2010.

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