Soapbox: Say ‘no’ to Amendment 2
Friday, October 31st, 2008Mike Dobbins, a former City of Atlanta planning commissioner who now teaches at Georgia Tech, urges voters say ‘no’ to Amendment 2. If approved, the amendment would allow school systems to participate in tax allocation districts. CL recently endorsed Amendment 2 — click here to see why.
There has been a lot of misinformation spread about TADs and what the constitutional referendum is about. Its supporters have been using tax-generated funding to lobby, and I would say mislead, the public to try to get us to vote for it. TADs allow local governmental jurisdictions to sell bonds to pay for public infrastructure in designated areas where disinvestment and blight bring down the neighborhood and discourage private investment. The bonds are supposed to be paid back from the tax value increases generated by development supported by the improved infrastructure. Many advocates imply that without a yes vote TADs won’t be available to local governments to induce prospective developers’ investment.
But TADs are still available. It’s just that the school portion of anticipated tax value increases must be dedicated to school purposes. So voting no on the referendum doesn’t jeopardize TAD programs; it only reduces the amount of proceeds available.





