Georgia Supreme Court, Atlanta, GA
ATLANTA, GA (June 4, 2013) — The Georgia Supreme Court
issued two opinions this week that reaffirm Invest Atlanta’s commitment to
redeveloping under-served areas of Atlanta.
 |
| Brian P. McGowan |
In Sherman v. Atlanta Independent School System, et.al, the
state's highest court affirmed that the use of school tax funds to spur
redevelopment in tax allocation districts is lawful.
In 2008, voters ratified a Constitutional amendment to allow
use of school taxes to fund redevelopment, and in 2009 the General Assembly
enacted a new Redevelopment Powers Law to implement the constitutional mandate.
“Today’s ruling gives us confidence as we continue the
critical redevelopment efforts in the most underserved areas of Atlanta,” said Brian
P. McGowan, President and CEO of Invest Atlanta. “We are able to continue
the work we see as so necessary to attracting the types of businesses and
development projects that serve as the foundation for thriving communities.”
 |
| John F. Woodham |
The decision upholds the constitutionality of the tax
allocation district as a crucial means of funding transformative redevelopment
projects like the Atlanta BeltLine and the Perry Bolton Tax Allocation District
(TAD).
The Georgia Supreme Court also summarily rejected an appeal
by John Woodham in a different bond validation action related to two
lease purchase bond transactions. This ruling will allow Invest Atlanta to seek
enforcement of the trial court's order imposing more than $300,000 in sanctions
against Woodham.
“These clear rulings today are huge wins,” McGowan said. “We
look forward to advancing the city's economic development initiatives using
these effective tools.”
For a complete copy of the company’s new release, please
contact:
Patti Ghezzi
The Wilbert Group
404-290-1996
.
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