Tuesday, June 4, 2013

Invest Atlanta Celebrates Two Wins in Georgia Supreme Court; Ruling Confirms School Taxes Can Be Used to Spur Redevelopment




         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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