---
date: 2025-02-10
title: Urban Redevelopment Agency Agenda Packet
source: 2025-02/2025-02-10_Urban Redevelopment Agency_Agenda Packet.pdf
pages: 1
---

STOCKBRIDGE URA MEETING
URBAN REDEVELOPMENT
AGENCY
Agenda
Anthony Ford, Chair
February 10, 2025 5:00 PM
Alphonso Thomas, Vice-Chair
Board Member Elton Alexander
Board Member Yolanda Barber
Board Member Kyle Berry
Board Member LaKeisha Gantt

CITY MANAGER
Frederick Gardiner

BOARD SECRETARY
Vanessa Holiday

STOCKBRIDGE CITY HALL
CITY TREASURER
4640 NORTH HENRY BLVD.
Frank Milazi
STOCKBRIDGE, GA 30281

CITY ATTORNEY Website: www.stockbridgega.org
Quinton G. Washington
Phone: 770-389-7900

Fax: 770-389-7912
AGENDA
URA MEETING
CITY OF STOCKBRIDGE
MONDAY, FEBRUARY 10, 2025 5:00 PM

I. Call to Order
1. Invocation Followed by Pledge
2. Roll Call
3. Approve Agenda
4. Approve October 29, 2024 Minutes
II. PRESENTATION
5. TAD Presentation
III. Executive Session - Real Estate Matters
IV. Adjourn
STOCKBRIDGE
URBAN
REDEVELOPMENT
AGENCY
SUMMARY MINUTES
BOARD MEETING
TUESDAY, OCTOBER 29, 2024 6:00 P.M.
Board Members Administration
Anthony S. Ford - Chair Frederick Gardiner - City Manager
Alphonso Thomas – Vice Chair Vanessa Holiday – Secretary
Elton Alexander - Board Member Quinton Washington – City Attorney
Yolanda Barber - Board Member
Kyle Berry - Board Member
LaKeisha Gantt - Board Member

The meeting was called to order by Chair Ford at 5:37 P.M.

Invocation by Vice-Chair Thomas

Pledge of Allegiance in unison.

Board Secretary, Vanessa Holiday was asked for a roll call of the board; all Board
Members were present except Board Members Berry and Gantt.

Board Member Alexander motioned to approve the Agenda; seconded by Board
Member Barber. The motion passed unanimously 3-0.

Board Member Alexander motioned to approve the September 24, 2024 and October 7,
2024 Meeting Minutes; seconded by Vice-Chair Thomas. The motion passed
unanimously 3-0.

Board Member Alexander motioned to convene Executive Session for Real Estate
matters; seconded by Board Member Barber. The motion passed unanimously 3-0.

Board Member Gantt joined the meeting via phone during Executive Session at
6:09 p.m.

During Executive Session, Board Secretary Vanessa Holiday exited the meeting, and
Deputy City Clerk Cassandra Lester joined the meeting at 6:20 p.m.

4640 North Henry Blvd. Stockbridge, GA 30281 770-389-7900 www.cityofstockbridge.com
Board Member Barber exited the meeting during Executive Session at 6:56 p.m.

Board Member Gantt joined the meeting during Executive Session at 6:59 p.m.

Motion to adjourn Executive Session and sign an Affidavit with no action, and to
reconvene the meeting was made by Vice-Chair Thomas; seconded Board Member
Alexander. The motion passed unanimously 3-0.

Motion to adjourn the meeting at was made by Vice-Chair Thomas; seconded by Board
Member Alexander. The motion passed unanimously 3-0.

The meeting adjourned at 7:02 p.m.

Respectfully submitted by:

Vanessa Holiday, Board Secretary Anthony S. Ford, Board Chair

4640 North Henry Blvd. Stockbridge, GA 30281 770-389-7900 www.cityofstockbridge.com
City of Stockbridge Tax Allocation District #1
Downtown and N. Henry Boulevard Corridor

Request for Consent of the Henry
County Board of Commissioners
January 2025
Introduction
• In 2020 Henry County and Stockbridge voters granted the County and its municipalities
redevelopment powers to create tax allocation districts (TAD) and to finance
improvements within those districts using tax increment financing (TIF)
• On December 12, 2022, the Stockbridge City Council adopted a redevelopment plan
and created City’s first TAD focused on Downtown Stockbridge
• Purpose and objectives of this presentation:
• To summarize the most important elements of the Stockbridge Redevelopment Plan and its possible
impacts on Henry County
• To request BOC consideration to consent to TAD #1 and outline terms of an intergovernmental
agreement between which establishes the terms of that consent
• Estimate the size of the County’s potential contribution to TAD #1 and the resulting financial return
• Respond to questions and discuss possible next steps

A sample of Georgia Cities & Counties with Tax Allocation Districts
• Duluth • Brunswick • South Fulton (2) • Villa Rica
• Gwinnett County (6) • Clayton County (3) • Hapeville • Varnell
• Lawrenceville • East Point (2) • Norcross • Richmond Hill
• Woodstock • College Park (2) • Albany • Stockbridge
• Atlanta (10) • Forest Park • Dallas
• Savannah • Marietta (2) • Holly Springs
• Gainesville (2)
• LaGrange (3) • Bulloch County
• Augusta
• Rome (2) • Bartow County
• Athens
• Flowery Branch • Cartersville
• Smyrna
• Lawrenceville • Columbus (5)
• Fayetteville
• Acworth • Kingsland • Lilburn
• Douglas County • Dalton (4) • St. Marys (3)
• Douglasville • Canton • Union City (2)
Plan adoption and TAD approval process
• November 21 2022: Draft Redevelopment Define the Boundaries of District
Plan delivered to the City.
• November 29, 2022: City TAD public Initial TAD Financial Analysis
Hearing held.
• December 12, 2022: The City Council Draft a Redevelopment Plan
passed a resolution to adopt the
Redevelopment Plan and create the TAD. Hold Public Hearing(s)

• December 2022: The County Assessor certified the accuracy
of the TAD parcel values and the TAD base digest for City Council Adopts the Plan/TAD
submission to the Department of Revenue
• February 2023: The Georgia Commissioner of Revenue Request to DOR to Set Base Value
certified the TAD Digest as of 12/31/2022
• June 2023: The City held meetings with County and School We are here Secure County & School District Consent
District staff, drafted a consent resolution and an inter-
governmental agreement (IGA) for consideration by the Negotiate One or More Development
County Commission Agreements to implement Projects
• The BOC delayed action on the IGA until the City made more • The City cannot negotiate with developers until County and
progress in adopting a City millage rate and securing a School District IGA’s are approved and the terms of those
developer for the Town Center Project IGA’s are known
Stockbridge TAD #1Boundaries and Base Value
•The TAD includes 345 parcels and 501 acres, containing a 2022 tax
digest of just under $35.9 million
• Contained less than 3.4% of the City’s and 0.4% of the County’s net
M&O property tax base when certified
• 1.24 million SF of existing buildings and structures
• Average age of all
structures - 1970
• 653,687 SF of taxable
commercial buildings
• Average age 1972,
average taxable full
value $74.67 per SF
• 323 Housing units City Hall
including 134 single-
family homes
• Average age of single-
family homes 1966,
average taxable full
value $147,440 per
unit
The Town Center Project
• Potential $300+ million mixed-use development Adjacent to
City Hall and amphitheater, across N. Henry Blvd. from
Stockbridge Elementary and Patrick Henry HS
• Mix of new construction and adaptive reuse of existing buildings
• Implements City planning objectives dating back two decades
• Most parcels are already under the City’s control
• A Letter of Intent (LOI) has been executed with a developer
• $30 to $40 million in TIF and possibly other City funding is
needed to offset the excess cost of developing parking decks,
infrastructure and amenities to support density
• Without County and School District consent to the TAD, the
project is not financially feasible
Requested Consent Agreement and IGA
• The City has prepared a draft intergovernmental agreement (IGA) and consent resolution for your
consideration
• The City is requesting County increment from General Fund and Recreation SSD millage only.
County Water, Fire SSD and millage from any future County bond issues are not impacted by the
existence of the TAD.
• The first “County TAD payment” is due in early 2026, from tax bills issued in 2025
• The County’s only obligation is to deliver its annual tax allocation increment – it is not a party to any
bonds or other financing that may be issued by the City
• The proposed intergovernmental agreement attaches conditions on the terms of the County’s
commitment, deadlines for the start of construction, permitted uses of County increment, annual
progress reporting and procedures for returning “excess funds” to the County at the end of the
agreement
• The IGA contains reasonable controls to protect the County’s interests without hurting the City’s ability to
successfully implement projects
• If the County consents, the City will request a similar IGA with the Board of Education
Resulting TAD #1 Fiscal Impacts on Henry County
• The County received roughly $550,000 in total real estate taxes from all property located within
Stockbridge TAD #1 in 2023, representing 0.4% of the estimated $135.1 million in total county-wide
property taxes levied
• Absent of implementing the City’s redevelopment plan, total County real estate taxes collected over
the remaining 28-year life of the TAD are unlikely to grow by more than 3% annually
• IF the City is successful in implementing the Town Center Project the County receives:
• Future County M&O + Recreation SSD taxes associated with the TAD’s ($35.9 million) base digest
• 100% of increased in County Water and Fire SSD taxes over the life of the agreement
• 100% of total County property taxes levied on the value of new commercial personal property
• 100% of the County’s share of increased sales taxes from new commercial development
• The potential increase in County sales taxes collected within the TAD could be 9 to 10 times greater
than property tax impacts over the life of the agreement
Resulting TAD #1 Fiscal Impacts on Henry County
• As estimated in this table, if status quo conditions continue indefinitely, and the TAD digest grows at a
modest 3% per year, the County would collect an estimated $25.6 million in total real estate taxes over the
remaining 28-year life of the TAD.
• IF the Town Center Project is completed with BOC consent, the County could contribute roughly $26.6
million in tax allocation increment to the City’s TAD fund
• In turn, the County would retain nearly $31.1 million in real property taxes that are not pledged to the TAD
• Assumes completion of the Town Center Project with surrounding digest growth increasing to 5% annually as the
Town Center project spurs investment in surrounding commercial and residential properties
Comparative County Real Property Tax Revenue Forecast With and Without Redevelopment
Cumulative Revenues to Termination of the TAD (2053)
2024 Status Quo Redevelopment TAD Increase/(Decrease) • By consenting the TAD, the County
Cumulative Real Property Taxes Millage Forecast Forecast Compared to Status Quo Forecast
could potentially receive (17.5%) more
Retained by Henry County Rates No Redevelopment with TAD Number Percent
real property tax revenue over the
Cumulative Real Property Taxes Retained by Henry County
County General Fund 7.042 $14,124,923 $7,295,443 -$6,829,480 -48.4%
remaining life of the TAD than it would
County Recreation 0.762 $1,528,428 $789,425 -$739,004 -48.4%
otherwise receive if status quo
County Fire SSD 2.949 $5,915,137 $13,093,808 $7,178,670 121.4% conditions are allowed to continue
County Water 2.000 $4,011,623 $8,880,168 $4,868,545 121.4% indefinitely.
TOTALS 12.753 $25,580,111 $30,058,843 $4,478,732 17.5%
County Increment Contribution to TAD #1 $0 $26,565,548
Source: KB Advisory Group, Inc.
Questions?
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3. Public Financing/Tax Increment Financing E: gary@kbagroup.com

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