As evidenced in a recent city audit, lack of TAD accountability sparks promise from Invest Atlanta CEO, Brian McGowan.
After the findings of a recent city audit, conducted by Leslie Ward, exposed an acute lack of accountability regarding Atlanta’s ten tax allocation districts (TAD), CEO of Invest Atlanta Brian McGowan ensured the Atlanta City Council that within 90-160 days, steps to improve TAD administration would be completed. According to the audit, “there’s no way to tell when the city should stop supporting a TAD with tax dollars. In turn, such uncertainty tends to encourage TADs to pile up surplus tax revenue,” which is exactly what Atlanta is dealing with.
Taking the reigns of Invest Atlanta approximately a year ago, McGowan has full faith in the TAD program and is a strong proponent of their existence. “When I got here, it was pretty clear to me that this program was the most powerful tool we have to eliminate blight and create jobs, But it also needed some work, We really have identified where the issues are and what we need to do to make this program right,” he expressed on Monday. In addition to highlighting Atlanta’s TAD administration shortfall the Audit also suggested a revision of Invest Atlanta’s contract to include TAD review processes and a call to city officials to more efficiently and properly allocate excess tax revenues.
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