DeKalb County Tax Allocation District #4: Market Square TAD

DeKalb County Tax Allocation District #4: Market Square TAD

Location: DeKalb County, Georgia

Client: Decide DeKalb Development Authority

Lead Consultant: KB Advisory Group

Services Provided: Tax Allocation District

KB Advisory Group develops a Redevelopment Plan for DeKalb County’s Tax Allocation District #4


KB Advisory Group (KB) Scope

DeKalb County engaged KB Advisory Group to create a Redevelopment Plan to outline the rationale, boundaries, data, and potential projects that could result from the formation of the proposed DeKalb County Tax Allocation District (TAD) #4: Market Square TAD.


Existing Conditions

The goal of the proposed tax allocation district was to ultimately achieve the vision of the DeKalb Unified Plan and the Edens North DeKalb Mall redevelopment vision. The TAD would enhance the North DeKalb Mall area to encourage private development.


The Findings

The Redevelopment Area and TAD were defined by the same boundaries, and included the North DeKalb Mall, adjacent commercial corridors, and blighted, distressed, and underdeveloped areas with redevelopment potential near the mall.


KB analysts found the redevelopment area qualified as such, and therefore could benefit from the establishment of a TAD, because of existing demographic conditions. The area was characterized by pervasive property, high unemployment, chronic population decline, an aging building stock, high commercial vacancies, and slower growth of the tax digest compared to DeKalb County as a whole.


The plan considered a variety of proposed and existing redevelopment projects, including the expected successful redevelopment of the North DeKalb Mall. The anticipated “halo effect” of this redevelopment was also taken into account. Given these expected developments, KB analysts found that the TAD parcels, currently worth $40.5 million, could eventually be valued at $806 million.


Over the course of the 25-year projected life of the TAD, KB analysts projected the cumulative TAD revenues would be $208 million for DeKalb County millage and $448 million from County and School District millage, greatly benefitting the county and its residents.


Read more about the adoption of the Market Square TAD here.