One day before Brookhaven voters were to go to the polls to decide whether to give city leaders redevelopment powers, the city is hosted an education forum on the issue Monday, Nov. 3, at Brookhaven City Hall, 4362 Peachtree Road.

Ken Bleakly Jr. of Bleakly Advisory Group gave the some 20 attendees some basic information on what redevelopment powers would mean for the city:

• Approval of referendum lets Brookhaven join 70+ Georgia cities and counties with the ability to use redevelopment powers.

• The Redevelopment Powers Law is Georgia’s version of tax increment financing – the nation’s premier economic development tool used n 49 states and D.C. – with over 6,000 transactions completed nationally.

• It does not create any TAD districts or commit funding – just authorizes its potential use.

• TADs accelerate the growth in the city’s tax base by encouraging redevelopment of underperforming assets, lessening the tax burden on homeowners.

While one attendee voiced a concern that the Brookhaven City Council didn’t have enough experience to utilize these powers, Bleakly said the biggest downside is that often nothing happens with the tool.

He pointed to Atlanta Station and the BeltLine as successful TAD projects.

Follow this link for more information on the referendum, including guest columns outlining both the pros and cons.

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