City of LaGrange Tax Allocation District #7

City of LaGrange Tax Allocation District #7

Location: LaGrange, Georgia

Client: The City of LaGrange and EYC Companies

Lead Consultant: KB Advisory Group

Services Provided: Tax Allocation District

KB Advisory Group creates the Redevelopment Plan for Tax Allocation District #7 in LaGrange


KB Advisory Group (KB) Scope

The City of LaGrange engaged KB Advisory Group to create a Redevelopment Plan for a new Tax Allocation District (TAD) within the city. The TAD plan was developed in cooperation with EYC Companies.


The Tax Allocation District was intended to support EYC Companies’ proposed development at 220 Main in the heart of Downtown LaGrange. The 2-acre site would feature a commercial and residential mixed-use development that would boost the area’s livability and connect key areas within the Downtown core.


Existing Conditions

The proposed boundary qualified as a TAD for two reasons under the Redevelopment Powers Law. First, there were a substantial number of structures within the proposed TAD boundary that were older than 40 years; the average age of existing buildings within the boundary was over 100 years old. Additionally, the value of these structures was relatively low compared to other properties nearby in Downtown LaGrange.


The Findings

After establishing an appropriate boundary for the TAD, KB analysts identified potential revenues from future development within the TAD, which were estimated to generate $350,000 in new, incremental property taxes each year to Troup County, Troup County Schools, and the Downtown LaGrange Development Authority.


KB analysts concluded that the creation of the proposed TAD could have significant economic benefits to Troup County over the course of the next decade. Overall, the proposed TAD should leverage $44 million in new investment in 220 Main during the development period.