Invest Atlanta Announces Application Process for Westside TAD
Funding will spur development projects and economic revitalization in the Vine City, English Avenue and Castleberry Hill neighborhoods
Invest Atlanta announced that the application process for the Westside Tax Allocation District (TAD) Community Improvement Fund is open to developers and community groups. The Fund will invest $15 million in capital projects aimed at revitalizing the Vine City, English Avenue and Castleberry Hill neighborhoods.
Created to leverage the ongoing economic benefits spurred by the construction of the new Atlanta Falcons’ Stadium project, the Community Improvement Fund will invest in transformational capital projects that result in lasting impact over a generation and spur private investment and redevelopment of the neighborhoods in the Westside TAD. The Arthur M. Blank Family Foundation has created its own fund, the Westside Neighborhood Prosperity Fund, which will invest an additional $15 million in projects and programming in areas such as human services, education, and youth development.
“After five months of robust community engagement through the Community Benefits Plan Committee, we are ready to get moving,” said Mayor Kasim Reed. “The redevelopment priorities are clear, the application process for funding is transparent and fair. This is a tremendous opportunity to transform these Westside neighborhoods and improve the quality of life for residents.”
Applications will be accepted until April 14, 2014. Funding decisions are expected by May 2, 2014. Applications will be evaluated on their fit into the priority categories established in the Community Benefits Plan and their ability to accelerate quality of life improvements, leverage other public and private funding sources and attract new investment, jobs and residents.
“Through these investments and others, Invest Atlanta is excited to kick-off an historic effort that will transform these neighborhoods into thriving communities where more families will choose to live,” said Brian P. McGowan, President and CEO of Invest Atlanta. “The time is now to focus our collective efforts and resources to help these communities of need which will in turn make our city stronger.”
Invest Atlanta is also offering the services of a business consultant to help with the rigorous application process.