COLUMBUS, Ga. (WTVM) - Columbus City Council is paving the way for redevelopment and economic progress in South Columbus.
Tuesday, the council approved the boundaries for what’s called a tax allocation district (TAD).
Although no projects are being proposed yet, Columbus Mayor Skip Henderson explained why TADs are important economic development tools.
“That’s an area you say is in need of redevelopment so what you do is you don’t spend any actual money from the government. You say we’re going to draw the line at the property taxes currently being brought in, anything above that will go into a TAD account to offset the cost of infrastructure needs to encourage development,” Henderson explained.
The boundaries of this eighth TAD are along the Riverwalk and Victory Drive. Ideas for prospective projects can be presented to city council beginning next month.