SUBSTITUTE
Public Hearing: YES ☐ NO ☒ Department: Board of Commissioners - District 6
SUBJECT:
Title
Commission District(s): Commission Super District 6
A Resolution To Establish The “DeKalb For The People Dividend Fund” And Fiscal Stability Policy
Body
Information Contact: Commissioner Ted Terry
Phone Number: (404) 371-4909
PURPOSE:
A resolution to establish the “DeKalb For The People Dividend Fund” and fiscal stability policy.
NEED/IMPACT:
DeKalb County has been the forefront of booming, new industries throughout it’s history. As global tech giants and state-level incentives push massive data center developments into DeKalb, our residents are being asked to bear the physical weight of an industrial transition they did not request. This resolution establishes a "Social Dividend" model, ensuring that if DeKalb must host these facilities, or future facilities of booming industries we do not yet know about, the priority remains the financial stability and quality of life of our people over corporate profit.
This 50/25/25 fiscal framework captures 100% of high value projects’ (High Value Project) on parcels zoned as Light Industrial (M) and Heavy Industrial (M-2) tax revenue to directly mitigate the disruptions these projects create. This captured funding will provide utility relief and job retraining while bolstering core services and "Rainy Day" reserves, ensuring the dividend of this industrial shift belongs strictly to the people of DeKalb.
FISCAL IMPACT:
Unknown at this time
RECOMMENDATION:
Recommended Action
To approve this resolution establishing a “DeKalb For The People Dividend Fund” and Fiscal Stability Policy and to have the Chief Executive Officer or her designee to execute any necessary documents needed to execute.