Public Hearing: YES ☐ NO ☒ Department: Chief Executive Office
SUBJECT:
Title
Commission District(s): All Commission Districts
Authorization for DeKalb County (the “County”) to authorize a Commercial Property Assessed Conservation, Energy, and Resiliency (C-PACER) program under the Georgia C-PACER Act and execute an intergovernmental agreement with Decide DeKalb Development Authority (“DDDA”) to administer the program.
Body
Information Contact: Jacob Vallo, Chief Development Officer
Phone Number: 470-484-7253
PURPOSE:
The County desires to enable DDDA as Program Administrator of DeKalb’s C-PACER program which provides lower cost financing for commercial property owners to build or renovate their facilities. The property owner voluntarily requests the local government to impose assessments on the property for the installment payments of any financing. The assessments are collected with property taxes.
NEED/IMPACT:
With rising construction and financing costs, developers and owners of property are actively seeking to work in jurisdictions which have tools which can offset and mitigate these rising costs. Many jurisdictions throughout the State of Georgia and nationwide utilize the C-PACER financing as a tool to generate more economic development and investment.
FISCAL IMPACT:
None
RECOMMENDATION:
Recommended Action
Authorize the CEO to execute the necessary documents, in a form approved by the County Attorney.