Substitute
Public Hearing: YES ☐ NO ☒ Department: Chief Executive Office
SUBJECT:
Title
Commission District(s): All Commission Districts
To enter into a Second Amended and Restated Intergovernmental Agreement between DeKalb County and the City of Doraville for Economic Development Purposes.
Body
Information Contact: Zachary Williams
Phone Number: 404-371-2881
PURPOSE:
To consider authorizing a Second Amended and Restated Intergovernmental Agreement between DeKalb County and the City of Doraville for certain economic development purposes.
NEED/IMPACT:
Pursuant to the Second Amended and Restated Intergovernmental Agreement, the County will consent to the continued inclusion of the County’s ad valorem taxes levied on real property located in “Tax Allocation District Number One - Doraville Transit-Oriented Development” created by the City of Doraville in the computation of the tax allocation increment for such TAD through December 31, 2057.
FISCAL IMPACT:
Approximately $80,306,345 in foregone tax increment.
RECOMMENDATION:
Recommended Action
To approve and enter into the attached agreement dated November 11, 2022 in a form acceptable to the County Attorney and authorize the Chief Executive Officer to execute and deliver all necessary documents.