Cagle Implements Informal Senate Working Group to Address TADs Issue

February 14, 2008

(Atlanta, GA) – Lt. Governor Casey Cagle announced today the implementation of an informal Senate working group, led by Senator Dan Weber, to address the decision by the Supreme Court of Georgia to remove a key portion of the funding stream for Tax Allocation Districts (TADs).

“The recent decision by the Supreme Court of Georgia has threatened a critical infrastructure and economic development tool for Georgia and we must act and develop a solution,” said Lt. Governor Casey Cagle.  “I am pleased to announce that Senator Weber has agreed to form and lead an informal Senate working group to develop a reasonable and responsible fix to this issue.   We look forward to working with the Speaker’s designees to address this issue and bring a remedy to the floor swiftly.”

“The Georgia Supreme Court's decision has serious ramifications for economic development in our state and I think we need to take a hard look at the effects of the ruling and what we can do in response,” said Senator Dan Weber.

TADs provide funding for specific redevelopment projects within communities that are generally underdeveloped.   The redevelopment projects are financed through the future increase in property taxes generated by the resulting new development.