Marietta's TAD program seeks to capitalize on the opportunity to redevelop areas within walking distance of the Marietta Square and the Hilton Atlanta/Marietta Hotel & Conference Center. To support new development, the city has invested TAD funds in park renovation, sidewalk improvements, streetscape enhancements, infrastructure construction and demolition of blighted buildings.
Tax Allocation Districts (TAD) are created by local governments to fund infrastructure and other redevelopment costs within a defined area. Redevelopment costs are typically financed through bonds secured by the pledge of future incremental increases in property taxes. TAD bonds, or other forms of tax increment financing, allows cities to charge the costs of public improvements to those who directly benefit from resulting new development and business investments.
Center City Perimeter TAD
The Center City Perimeter tax allocation district was established in 2005 to assist in the city’s efforts to rebuild in-town neighborhoods, making Marietta a more enjoyable place to live, work and play. Property in the TAD includes aging residential buildings, outdated apartments, underutilized commercial property and greyfields and as well as a small tract of land requiring new infrastructure for downtown development. Redevelopment of commercial corridors and multifamily properties in the TAD is intended to expand housing choices for new home buyers and attract new businesses and retailers to areas that are currently undeserved.
The Center City South Renaissance (CCSR) tax allocation district was established in 2003 and expanded in 2004 to support redevelopment of two public housing sites near downtown Marietta into sustainable residential and mixed-use communities. The CCSR TAD is essential in ensuring that the city of Marietta maintains its historical position as the central location in Cobb County to enjoy arts, entertainment, history, dining and shopping by creating the residential base to support and expand a vibrant downtown activity center.