Incentives

A tax-allocation district (TAD), also known as tax increment financing, is a defined area where real estate property tax monies gathered above a certain threshold for a certain period of time (typically 25 years) is used for a specified improvement. The funds raised from a TAD are placed in a tax-free bond where the money can continue to grow. These improvements are typically for revitalization and to complete redevelopment efforts in a specified area. Douglasville citizens approved a TAD in 2019.

To see if your home or business is in the Douglasville TAD, enter your address here (Please be sure to use abbreviations for Street and Road).

Site selection in economic development encompasses a meticulous process of choosing the optimal location for businesses and retail establishments to flourish, playing a pivotal role in regional growth. This comprehensive decision-making involves evaluating factors like infrastructure, labor availability, transportation networks, tax incentives, regulatory environment, and, notably, traffic counts. In the realm of retail site selection, understanding and analyzing traffic counts become paramount. Retailers seek locations with high traffic volumes, as this indicates a potential customer base and increased visibility for their products or services.

The success and sustainability of retail businesses are intricately tied to their chosen sites. Strategic decisions in site selection aim to create an environment conducive to attracting customers and driving sales. Beyond the traditional economic development factors, retail site selection emphasizes footfall and accessibility, leveraging insights from traffic counts to predict consumer engagement. This approach not only benefits the retail establishments but also contributes to the overall economic vitality of the chosen location and its surrounding communities. In essence, the art and science of site selection play a crucial role in shaping vibrant, economically thriving regions.

The New Markets Tax Credit (NMTC) was established in 2000. Congress authorizes the amount of credit, which the Treasury then allocates to qualified applicants. From 2003 through 2020, the program has parceled out credits worth $26 billion (in 2020 dollars). The NMTC has supported more than 5,300 projects in all 50 states, the District of Columbia, and Puerto Rico through program year 2016. Some 43 percent of the US’s roughly 73,000 census tracts qualify for NMTC investments; by 2016, approximately 3,400 had received NMTC projects. In recent years, all applicants have pledged to place at least 75 percent of their NMTC projects in “severely distressed” census tracts. The credit is currently set to expire in 2021, though Congress has extended it several times over its lifetime.

HUBZone is a Small Business Administration (SBA) program for small businesses that operate and employ people in Historically Under-utilized Business Zones. The HUBZone Program mission is to promote job growth, capital investment and economic development to historically underutilized business zones, referred to as HUBZones, by providing contracting assistance to small businesses located in these economically distressed communities.

The purpose of the Downtown Development Revolving Loan Fund (DD RLF) is to assist cities, counties and development authorities in their efforts to revitalize and enhance downtown areas by providing below-market rate financing to fund capital projects in core historic downtown areas and adjacent historic neighborhoods where DD RLF will spur commercial redevelopment.

Eligible applicants under this program shall be municipalities with a population of 100,000 or less, counties with a population of 100,000 or less proposing projects in a core historic commercial area, and development authorities proposing projects in a core historic commercial area in municipalities or counties with a population of 100,000 or less. The ultimate user of funds may be a private business or a public entity such as a city or development authority.

Applicants must demonstrate that they have a viable downtown development project and clearly identify the proposed uses of the loan proceeds. Once approved, funds may be used for such activities as: real estate acquisition, development, redevelopment, and new construction; rehabilitation of public and private infrastructure and facilities; purchase of equipment and other assets (on a limited basis).
The maximum loan is $250,000 per project. Applications will be accepted throughout the year and as loan funds are available to the Department.

Applications for the Revolving Loan Fund program may be submitted at any time. The Foundation's staff will review applications to determine if the project fits the overall objectives of the Foundation and is likely to have a positive economic impact on the community.
Applications are evaluated based on leadership, accountability, long-term sustainability, and potential for private investment. Projects should encourage spin-off development, add jobs, promote downtown housing, or add to the cultural enrichment of the community. Each application must also undergo credit underwriting.