Tax Allocation Districts (TADs) are Georgia's form of Tax Increment Financing (TIF). This tool is very similar to a PILOT except it allows you to leverage the property taxes from multiple parcels instead of just one. This tool is especially useful when a new development is expected to help lift the values of a large number of properties in a whole area or neighborhood. Downtown Macon already has a number of TADs in place and new TADs can be created. Generally speaking, TADs will issue bonds to pay for major infrastructure improvements like streetscapes, parks, road diets, bike facilities, pedestrian improvements, and parking. These bonds are then repaid by the increase in property values from the developments that are leveraged from this infrastructure. If you are interested in a project downtown but deterred by access to parking or a lack of public space amenities, please let us talk to you about how a TAD could help fund these improvements to make your project a reality without increasing your costs!